Introduction to PMP

These flashcards cover key concepts related to project management, governance, and compliance, based on the lecture notes.

Risk Appetite

The level of risk that an organization is willing to accept in pursuit of its objectives.

Risk Threshold

The level of risk exposure beyond which action must be taken to reduce risk.

Change Management

A structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state.

ADKAR Model

A change management model that focuses on Awareness, Desire, Knowledge, Ability, and Reinforcement.

Project Governance

The framework, functions, and processes that guide project management activities to meet organizational goals.

Stakeholder Engagement

The process of involving individuals or groups potentially affected by a project to ensure their interests are considered.

Compliance Audit

A formal review process to determine if project activities align with organizational policies and regulatory requirements.

Benefits Management Plan

A document that outlines how the benefits of a project will be measured and delivered.

MVP (Minimum Viable Product)

The simplest version of a product that can be released to fulfill the needs of users while providing feedback for future development.

RACI Matrix

A tool that defines roles and responsibilities in a project, indicating who is Responsible, Accountable, Consulted, and Informed.

Project Compliance

The process of ensuring that a project adheres to relevant laws, regulations, policies, and standards.

Change Resistance

Opposition or pushback from individuals or groups when changes are implemented in an organization.

Escalation Procedure

A defined process for escalating issues or risks to higher levels of management when thresholds are exceeded.

Iteration

A cyclical process in project management where a project is developed in successive refinements.