Comprehensive Study Notes on Project Management Concepts from Transcript.

A collection of 200 flashcards designed to help students prepare for their project management exam, covering various key concepts and principles.

What is the PMI Mindset regarding project managers?

PMI expects the project manager to act as a servant leader who proactively prevents problems, supports the team, follows organizational processes, and focuses on delivering business value.

How should conflict be addressed according to PMI?

Conflict should be addressed early using collaboration and problem-solving techniques. Escalation is only appropriate when the team cannot resolve the issue on its own.

What is the difference between a risk and an issue?

A risk is an uncertain future event that may affect the project, while an issue is a problem that has already occurred and requires immediate action.

What does the project charter do?

The project charter formally authorizes the project, defines high-level requirements, and gives the project manager authority to use organizational resources.

What is Integrated Change Control?

All change requests must be documented, analyzed for impact, reviewed by the Change Control Board, and formally approved or rejected before implementation.

What is included in the scope baseline?

The scope baseline includes the scope statement, work breakdown structure, and WBS dictionary, and is used to measure and control scope changes.

What is the difference between Validate Scope and Control Quality?

Control Quality focuses on internal inspection of deliverables, while Validate Scope focuses on formal customer acceptance of completed deliverables.

What are Fast Tracking and Crashing in project management?

Fast tracking shortens the schedule by overlapping activities and increases risk, while crashing shortens the schedule by adding resources and increases cost.

What is Earned Value Management?

Earned Value Management integrates scope, schedule, and cost to assess project performance using planned value, earned value, and actual cost.

What is the Scrum Framework?

Scrum is an Agile framework that delivers value through time-boxed sprints, defined roles, regular inspection, and continuous improvement.

What role does a project manager play according to the PMI Mindset?

The project manager acts as a servant leader who prevents problems and supports the team.

When should escalation in conflict resolution be considered?

Escalation is appropriate when the team cannot resolve the issue on its own.

What is an issue in project management?

An issue is a problem that has already occurred and needs immediate action.

How does a project charter benefit the project manager?

It gives the project manager authority to use organizational resources.

What is the purpose of documenting change requests?

To analyze for impact, review by the Change Control Board, and gain formal approval or rejection.

What is the role of a WBS dictionary?

It is part of the scope baseline used to measure and control scope changes.

What type of customer interaction does Validate Scope involve?

Formal customer acceptance of completed deliverables.

How does crashing a project schedule affect its cost?

Crashing increases the cost due to the addition of resources.

In Earned Value Management, what is planned value?

Planned value is the estimated value of work scheduled to be completed by a specific time.

What event triggers the use of the Scrum Framework?

The need for delivery of value through iterative project management.

According to PMI, what is the proactive role of a project manager?

To prevent problems before they occur.

What should project managers do if they identify a potential conflict early on?

Address the conflict through collaboration and problem-solving techniques.

What qualifies something as a risk in project management?

Its uncertain nature and potential effect on the project outcome.

Who approves the project charter?

Typically, a sponsor or organizational authority authorizes the project charter.

How are change requests formally handled in project management?

They must be documented, analyzed, reviewed, and either approved or rejected.

What is risk management's relationship with scope baseline?

The scope baseline is used to control changes related to risks identified.

What is the focus of Control Quality in project management?

Inspection of deliverables to ensure they meet quality standards.

Can Fast Tracking increase project risk?

Yes, it can increase risk by overlapping activities.

What three elements does Earned Value Management integrate?

Scope, schedule, and cost.

During which methodology is value delivered in time-boxed sprints?

Scrum framework.

What is the essence of the PMI Mindset?

Servant leadership and focus on delivering business value.

What prompt necessitates a formal escalation of conflict?

The inability of a team to resolve an issue independently.

What occurs if issues are not addressed immediately in project management?

They may escalate and affect the project's timeline and budget.

Who is responsible for authorizing the use of resources in a project?

The project charter provides this authority to the project manager.

What happens to change requests that are not documented?

They may lead to unmanageable scope changes.

How can a scope statement help in measuring project performance?

It provides a clear definition of what is included in the project's scope.

What is involved in a formal customer acceptance process?

Validation of completed deliverables.

How does crashing shorten a project's schedule?

By adding resources to perform tasks more quickly.

What method is used in Earned Value Management to measure progress?

By comparing planned value, earned value, and actual cost.

What does Scrum promote during its sprints?

Regular inspection and continuous improvement.

What is one key responsibility of a project manager as a servant leader?

Supporting team members to ensure project progress.

What is a key factor in conflict resolution according to PMI?

Collaboration and problem-solving techniques.

Can a risk also be an issue?

No, a risk is potential and uncertain, while an issue has already occurred.

What does a project charter provide to stakeholders?

Clarity on high-level project requirements and authorization.

What are the outcomes of properly managed change requests?

They can lead to project success and stakeholder satisfaction.

What are the components of a scope baseline used in project management?

Scope statement, work breakdown structure, and WBS dictionary.

What type of quality assessment is Control Quality?

Internal inspection of project deliverables.

What does Fast Tracking do to project resources?

Increases the workload on existing resources.

In terms of project management, what can Earned Value Management indicate?

Overall project health and performance.

What helps teams continuously improve in a Scrum framework?

Time-boxed sprints and regular retrospectives.

What aspect of project work does PMI Mindset highlight?

Delivering measurable business value.

When is escalation in conflict completely justified?

When the resolution attempts are unsuccessful by the team.

What category does an issue fall into regarding time?

An issue is a current problem requiring immediate attention.

What governance does the project charter establish for a project?

It authorizes the project and defines the project's scope.

What should happen to the change requests that are not analyzed?

They risk being improperly implemented, causing scope creep.

How should scope changes be documented?

Each change request must be formally documented and analyzed.

What does Validate Scope require from stakeholders?

Formal acceptance of completed project deliverables.

How does crashing affect project cost and resources?

It can significantly raise the cost due to required additional resources.

What is the purpose of comparing earned value to planned value?

To assess if the project is on track and within budget.

What is a principle of Scrum regarding delivering value?

Values are delivered incrementally through small sprints.

What is an essential trait for a project manager in the PMI framework?

To prevent conflict proactively.

What is one of the main methods for addressing conflict within teams?

Engaging in collaborative problem-solving.

What defines a project issue?

An occurrence that requires immediate action.

Who typically signs off on the project charter?

The project sponsor or an executive authority.

What should be included in the impact analysis for change requests?

Potential benefits, risks, and consequences of the change.

What outlines the project's expected deliverables?

The scope baseline including scope statement and WBS.

What does Control Quality directly relate to?

Ensuring project outputs meet defined standards.

What is a potential drawback of Fast Tracking in project execution?

It increases the risk of overlapping tasks leading to errors.

What does Earned Value Management help project managers analyze?

The performance of project scope, schedule, and cost simultaneously.

How do sprints relate to continuous improvement in Agile methodologies?

Sprints promote frequent reassessment and adaptation in processes.

What underlying philosophy drives the PMI Mindset?

Servant leadership contributing to team success.

What should a team do if they encounter a conflict?

Address the conflict quickly using collaborative techniques.

What occurs when a potential risk materializes into an issue?

It requires immediate resolution actions from the project team.

What formal document launches the project officially?

The project charter.

What needs to be the attitude towards change requests?

They should be seen as opportunities that require proper management.

In what form should the scope changes be evaluated?

Documented analysis for impact before any decision making.

What distinguishes Validate Scope from Control Quality?

Validate Scope is focused on acceptance, while Control Quality is focused on conformance.

What can happen if the project team fails to add resources during crashing?

The project timeline may be delayed.

What project measure indicates that money has been spent effectively?

A favorable comparison of earned value to planned value.

In what manner does Scrum facilitate team dynamics?

By defining roles and promoting inspection and adaptation.

What overall aim does the PMI mindset focus on?

Delivery of tangible business value through effective leadership.

When should team escalation procedures be implemented?

When all internal conflict resolution methods have failed.

What is the nature of an issue in project management?

An identifiable problem that needs immediate attention.

What warrants the project manager's authority in resource allocation?

The project charter provides that authority.

What must accompany every change request for effective management?

Proper documentation and impact analysis.

What defines the scope baseline?

It combines the scope statement with the work breakdown structure.

How often should Control Quality checks be performed?

Regularly throughout the project development phases.

What does the use of Fast Tracking potentially compromise?

Quality due to overlapping tasks increasing the likelihood of errors.

What does Earned Value Management provide insight into?

Overall project performance relative to the budget and schedule.

How does Scrum approach the concept of value delivery?

Through iterative and incremental processes within defined sprints.

What mindset should project managers adopt to effectively lead their teams?

Servant leadership is essential in the PMI framework.

What is the main goal of resolving conflict within a project team?

To maintain a productive work environment and focus on project goals.

What becomes essential once a risk is realized?

It must be treated as an issue requiring immediate resolution.

What does the project charter essentially serve as for a project?

The foundational document that authorizes the project.

What key aspect should accompany a change request?

A detailed analysis of potential impacts.

What are the main components necessary for scope management?

Clear scope statements and well-defined work breakdown structures.

In what context do Quality Control processes operate?

Within the quality management framework to ensure compliance.

What is a drawback of excessive Fast Tracking?

Increased project complexity with potential quality risks.

What does a positive ratio of earned value to actual cost indicate?

Effective resource utilization and potentially high project success.

What key features define the Scrum methodology?

Roles, time-boxed sprints, and continuous improvement.