PMP Exam Prep Cheat Sheet Flashcards

Vocabulary practice flashcards generated from the PMP Exam Prep Cheat Sheet aligned with PMBOK 8.

A.R.T.U.

The sequence for identifying root causes before taking action: Assess/Analyze $\rightarrow$ Review $\rightarrow$ Take Action $\rightarrow$ Update Documents.

Risk

An uncertain event that might occur in the future and could impact the project positively or negatively, addressed through preventive responses and recorded in the Risk Register.

Issue

A problem that has already occurred or is currently happening in the project, addressed through corrective responses and recorded in the Issue Log.

Rolling Wave Planning

A progressive elaboration technique where near-term work is planned in detail, while future work is planned at a higher level and refined as more information becomes available.

Adaptive Planning

A flexible planning approach used in dynamic environments where plans, priorities, and deliverables are continuously adjusted based on feedback and changing conditions.

Lead and Lag

Lead is an overlap where a successor task starts before its predecessor completes; Lag is a required delay between the completion of a predecessor task and the start of a successor task.

Resource Leveling

A schedule optimization technique that adjusts activity start and finish dates to balance resource demand with availability, which may change the critical path and extend project duration.

Resource Smoothing

A schedule optimization technique that adjusts activities within their free and total float so that the critical path and overall completion date are not delayed.

Analogous Estimating

A top-down technique that uses historical data and parameters from a similar previous project to estimate duration or cost.

Parametric Estimating

An estimating technique that uses an algorithm based on historical data and project parameters to calculate activity duration or cost.

Bottom-up Estimating

A method of estimating project duration or cost by aggregating detailed estimates of individual lower-level components of the Work Breakdown Structure (WBS).

Three-Point Estimating (PERT / Beta Formula)

A weighted average formula considering estimation uncertainty expressed as $E = \frac{O + 4M + P}{6}$, where $O$ is Optimistic, $M$ is Most Likely, and $P$ is Pessimistic.

Three-Point Estimating (Triangular Formula)

A simple average formula considering estimation uncertainty expressed as $E = \frac{O + M + P}{3}$, where $O$ is Optimistic, $M$ is Most Likely, and $P$ is Pessimistic.

Fast-Tracking

A schedule compression technique where activities normally performed sequentially are performed in parallel, increasing risk and potential rework without increasing cost.

Crashing

A schedule compression technique where additional resources are added to shorten task duration, typically resulting in increased project cost.

Cost Baseline

The approved time-phased project budget, including contingency reserves but excluding management reserves, used to measure and monitor cost performance.

Contingency Reserve

Budget allocated within the cost baseline for identified risks and approved risk responses (known-unknowns).

Management Reserve

Budget allocated outside the cost baseline for unidentified risks (unknown-unknowns), requiring sponsor or CCB approval to utilize.

Cost Performance Index (CPI)

A measure of cost efficiency calculated as $\text{CPI} = \frac{\text{EV}}{\text{AC}}$, where a value greater than $1.0$ indicates under budget and less than $1.0$ indicates over budget.

Schedule Performance Index (SPI)

A measure of schedule efficiency calculated as $\text{SPI} = \frac{\text{EV}}{\text{PV}}$, where a value greater than $1.0$ indicates ahead of schedule and less than $1.0$ indicates behind schedule.

Project Business Case

A documented business justification and feasibility study created before project initiation to explain why the project should be started.

Project Benefits Management Plan

A document defining how project benefits will be measured, realized, maximized, and sustained over time.

Project Charter

A formal document issued by the Project Sponsor that authorizes the project existence and grants authority to the Project Manager.

Scope Baseline

The approved version of the Project Scope Statement, Work Breakdown Structure (WBS), and WBS Dictionary.

Validate Scope

The process of formalizing acceptance of completed project deliverables by key stakeholders.

Control Quality

The process of evaluating deliverables against quality requirements and standards to ensure technical correctness before Validate Scope.

Power/Interest Grid

A stakeholder analysis tool that groups stakeholders by authority level and concern, guiding management strategies: manage closely, keep satisfied, keep informed, or monitor.

Team Charter

A working agreement developed collaboratively by team members establishing values, operating rules, communication norms, and conflict resolution guidelines.

Servant Leadership

A leadership model that prioritizes serving team needs, removing obstacles, coaching, and empowering members rather than exercising command and control.

Tuckman Ladder Model

A model defining the five stages of team development: Forming, Storming, Norming, Performing, and Adjourning.

Collaborate / Problem Solve

A win-win conflict resolution technique that incorporates multiple perspectives through open dialogue to reach consensus and commitment.

Residual Risk

The remaining risk that lingers after all planned risk responses and mitigation efforts have been implemented.

Secondary Risk

A new risk that arises as a direct consequence of implementing a risk response.

Communication Channels Formula

A calculation determined by $\frac{N(N - 1)}{2}$ to identify potential communication paths among $N$ stakeholders.

Product Owner

The Agile role responsible for maximizing product value, defining product vision, and managing and prioritizing the Product Backlog.

Scrum Master

The Agile role that provides servant leadership by coaching the team, facilitating Scrum events, and removing impediments.

Theme, Epic, User Story, Task Hierarchy

The breakdown of Agile work: Themes guide high-level goals, Epics define broad features, User Stories specify concise user-value requirements, and Tasks represent actionable step-by-step activities.

Team Velocity

An Agile planning metric calculated by summing completed story points in an iteration to forecast future workload capacity.

Burn-Down Chart

A chart showing the amount of remaining work (story points) over time across iterations.

Lead Time

In Kanban, the total duration from when a work request is first submitted until it is fully completed and delivered.

Cycle Time

In Kanban, the elapsed time from when work actively begins on a task until it is completed.

Fixed-Price Contract

A agreement establishing a set price for well-defined scope, transferring financial risk primarily to the seller.

Cost-Reimbursable Contract

A agreement reimbursing actual seller costs plus a fee, flexible for evolving or uncertain project scopes.

Time and Materials (T&M) Contract

A hybrid contract type combining fixed hourly labor rates with variable material expenses, ideal when scope duration is undefined.