CAPM Udemy Course Flashcards

CAPM Udemy Course

A Guide to the Project Management Body of Knowledge (PMBOK Guide)

The PMI publication that defines widely accepted project management practices. The CAPM and the PMP exam are based on this book.

Application areas

The areas of expertise, industry, or function where a project is centered. Examples of application areas include architecture, IT, health care, and manufacturing.

Business value

A quantifiable return on investment. The return can be tangible, such as equipment, money, or market share. The return can also be intangible, such as brand recognition, trademarks, and reputation.

Certified Associate in Project Management (CAPM)

A person who has slightly less project management experience than a PMP, but who has qualified for and then passed the CAPM examination.

Cultural and social environment

Defines how a project affects people and how those people may affect the project. Cultural and social environments include the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project.

Deliverable

A product, service, or result created by a project. Projects can have multiple deliverables.

General management skills

These include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.

International and political environment

The consideration of the local and international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress.

Interpersonal skills

The ability to interact, lead, motivate, and manage people.

Iron Triangle of Project Management

A triangle with the characteristics of time, cost, and scope. Time, cost, and scope each constitute one side of the triangle; if any side of the Iron Triangle is not in balance with the other sides, the project will suffer. The Iron Triangle of Project Management is also known as the Triple Constraints of Project Management, as all projects are constrained by time, cost, and scope.

Physical environment

The physical structure and surroundings that affect a project’s work.

Process groups

A collection of related processes in project management. There are five process groups and 49 project management processes. The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Program

A collection of related projects working in unison toward a common deliverable.

Progressive elaboration

The process of gathering project details. This process uses deductive reasoning, logic, and a series of information- gathering techniques to identify details about a project, product, or solution.

Project

A temporary endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable.

Project benefits management plan

A document created and maintained by the project sponsor and the project manager. The project benefits management plan defines what benefits the project will create, when the benefits will be realized, and how the benefits will be measured.

Project business case

Created and maintained by the project sponsor and shows the financial validity of why a project is chartered and launched within the organization. Typically, the project business case is created before the launch of the project and may be used as a go/no-go decision point.

Project enviroment

The location and culture of the environment where the project work will reside. The project environment includes the social, economic, and environmental variables the project must work with or around.

PMI

An organization of project management professionals from around the world, supporting and promoting the careers, values, and concerns of project managers.

Project life cycle

The phases that make up the project. Project life cycles are unique to the type of work being performed and are not universal to all projects.

PMO

A central office that oversees all projects within an organization or within a functional department. A PMO supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.

Project Management Professional (PMP)

A person who has proven project management experience and has qualified for and then passed the PMP examination.

Project portfolio management

The management and selection of projects that support an organization’s vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process.

Subprojects

A smaller project managed within a larger, parent project. Subprojects are often contracted work whose deliverable allows the larger project to progress.

Triple Constraints of Project Management

Also known as the Iron Triangle. This theory posits that time, cost, and scope are three constraints that every project has.

Work performance data

Raw data, observations, and measurements about project components. Work performance data is gathered and stored in the project management information system.

Work performance information

Work performance information is the processed and analyzed data that will help the project manager make project decisions.

Work performance reports

Work performance reports is the formatted communication of work performance information. Work performance reports communicate what’s happening in the project through status reports, memos, dashboards, or other modalities.

Balanced matrix structure

An organization where organizational resources are pooled into one project team, but the functional managers and the project managers share the project power.

Cultural norms

Cultural norms describe the culture and the styles of an organization. Cultural norms, such as work ethics, hours, view of authority, and shared values, can affect how the project is managed.

Enterprise environmental factors

Conditions that affect how the project manager may manage the project. Enterprise environmental factors come from within the project, such as policy, or they be external to the organization, such as law or regulation.

Functional structure

An organization that is divided into functions, and each employee has one clear functional manager. Each department acts independently of the other departments. A project manager in this structure has little to no power and may be called a project coordinator.

Governance framework

Governance framework describes the rules, policies, and procedures that people within an organization abide by. Governance framework addresses the organization, but also address portfolios, programs, and projects. Regarding portfolios, programs, and projects the governance framework addresses alignment with organizational vision, risk management, performance factors, and communication.

Hybrid structure

An organization that creates a blend of the functional, matrix, and project- oriented structures.

Multidivisional structure

Describe organizations that have duplication of efforts within the organization, but not within each department or division of the organization. Project manager has little authority in this structure and the functional manager controls the project budget.

Organic or simple

Describes a loosely organized business or organization. There likely aren’t big formal departments and people work alongside one another regardless of roles and titles. The project manager likely has little control over the project resources and may not be called a project manager.

Organizational process assets

Organizational process assets include organizational processes, policies, procedures, and items from a corporate knowledge base. Organizational process assets are grouped into two categories to consider: processes, policies and procedures, and organizational knowledge bases.

Organizational Knowledge Repositories

Organizational knowledge repositories are the databases, files, and historical information that you can use to help better plan and manage your projects. This is an organizational process asset that is created internally to your organization through the ongoing work of operations and other projects.

Organizational System

A system can create things by working with multiple components that the individual components could not create if they worked alone. The structure of the organization and the governance framework creates constraints that affect how the project manager makes decisions within the project. The organizational system directly affects how the project manager utilizes their power, influence, leadership, and even political capital, to get things done in the environment.

Project management office (PMO)

A business unit that centralizes the operations and procedures of all projects within the organization. The PMO can be supportive, controlling, or directive.

Project-oriented structure

An organization that assigns a project team to one project for the duration of the project life cycle. The project manager has high-to-almost-complete project power.

Strong matrix structure

An organization where organizational resources are pooled into one project team, but the functional managers have less project power than the project manager.

Virtual organization

Uses a network structure to communicate and interact with other groups and departments. A point of contact exists for each department and these department point of contact receive and send all messages for the department.

Weak matrix structure

An organization where organizational resources are pooled into one project team, but the functional managers have more project power than the project manager.

active listening

The message receiver restates what’s been said to fully understand and confirm the message and it provides an opportunity for the sender to clarify the message if needed.

active problem solving

Active problem solving begins with problem definition. Problem definition is the ability to discern between the cause and effect of the problem. Root-cause analysis looks beyond the immediate symptoms to the cause of the symptoms—which then affords opportunities for solutions.

avoiding power

The project manager refuses to act, get involved, or make decisions.

charismatic leadership

The leader is motivating, has high- energy, and inspires the team through strong convictions about what’s possible and what the team can achieve. Positive thinking and a can-do mentality are characteristics of a charismatic leader.

expert power

The project manager has deep skills and experience in a discipline (for example, years of working in IT helps an IT project manager better manage IT projects).

ingratiating power

The project manager aims to gain favor with the project team and stakeholders through flattery.

informational power

The individual has power and control of the data gathering and distribution of information.

interactional leadership

The leader is a hybrid of transactional, transformational, and charismatic leaders. The interactional leader wants the team to act, is excited and inspired about the project work, yet still holds the team accountable for their results.

guilt-based power

The project manager can make the team and stakeholders feel guilty to gain compliance in the project.

leadership

Leadership is about aligning, motivating, and inspiring the project team members to do the right thing, build trust, think creatively, and to challenge the status quo.

laissez-faire leadership

The leader takes a “hands-off” approach to the project. This means the project team makes decisions, takes initiative in the actions, and creates goals. While this approach can provide autonomy, it can make the leader appear absent when it comes to project decisions.

management

Management utilizes positional power to maintain, administrate, control, and focus on getting things done without challenging the status quo of the project and organization.

media selection

Based on the audience and the message being sent, the media should be in alignment with the message.

meeting management

Meetings are forms of communication. How the meeting is led, managed, and controlled all influence the message being delivered. Agendas, minutes, and order are mandatory for effective communications within a meeting.

personal or charismatic power

The project manager has a warm personality that others like.

presentation

In formal presentations, the presenter’s oral and body language, visual aids, and handouts all influence the message being delivered.

pressure-based power

The project manager can restrict choices to get the project team to perform and do the project work.

PMI Talent Triangle

Defines three areas of PDUs for PMI certified professionals to maintain their certification. The PMI Talent Triangle includes technical project management, leadership, and strategic and business management.

positional power

The project manager’s power is because of the position she has as the project manager. This is also known as formal, authoritative, and legitimate power

Professional Development Units (PDUs

PDUs are earned after the PMP to maintain the PMP certification. PMPs are required to earn 60 PDUs per three-year certification cycle. Of the 60 PDUs, a minimum of 35 hours must come from educational opportunities.

project manager \n

The role of leading the project team and managing the project resources to effectively achieve the objectives of the project.

punitive or coercive power

The project manager can punish the project team.

referent power

The project manager is respected or admired because of the team’s past experiences with the project manager. This is about the project manager’s credibility in the organization.

reward power

The project manager can reward the project team.

sender-receiver models

Communication requires a sender and a receiver. Within this model may be multiple avenues to complete the flow of communication, but barriers to effective communication may be present as well.

servant leadership

The leader puts others first and focuses on the needs of the people he serves. Servant leaders provide opportunity for growth, education, autonomy within the project, and the well-being of others. The primary focus of servant leadership is service to others.

situational power

The project manager has power because of certain situations in the organization.

style

The tone, structure, and formality of the message being sent should be in alignment with the audience and the content of the message.

transactional leadership

The leader emphasizes the goals of the project and rewards and disincentives for the project team. This is sometimes called management by exception as it’s the exception that is reward or punished.

transformational leadership

The leader inspires and motivates the project team to achieve the project goals. Transformational leaders aim to empower the project team to act, be innovative in the project work, and accomplish through ambition.

Assumption log

An assumption is something that is believed to be true or false, but it has not yet been proven to be true or false. Assumptions that prove wrong can become risks for the project. All identified project assumptions are recorded in the assumption log for testing and analysis, and the outcomes are recorded.

Benefit/cost ratio (BCR) models

This is an example of a benefits comparison model. It examines the benefit-to-cost ratio.

Change control board (CCB)

A committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change.

Change control system (CCS)

The change control system communicates the process for controlling changes to the project deliverables. This system works with the configuration management system and seeks to control and document proposals to change the project’s product.

Change log

All changes that enter into a project are recorded in the change log. The characteristics of the change, such as the time, cost, risk, and scope details, are also recorded.

Change management plan

This plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved, or declined.

Closure processes

This final process group of the project management life cycle is responsible for closing the project phase or project. This is where project documentation is archived and project contracts are also closed.

Communications management plan

This plan defines who will get what information, how they will receive it, and in what modality the communication will take place.

Configuration identification

This includes the labeling of the components, how changes are made to the product, and the accountability of the changes.

Configuration management plan

This plan is an input to the control scope process. It defines how changes to the features and functions of the project deliverable, the product scope, may enter the project.

Configuration management system

This system defines how stakeholders are allowed to submit change requests, the conditions for approving a change request, and how approved change requests are validated in the project scope. Configuration management also documents the characteristics and functions of the project’s products and any changes to a product’s characteristics.

Configuration status accounting

The organization of the product materials, details, and prior product documentation.

Configuration verification and auditing

The scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.

Contract closure

The formal verification of the contract completeness by the vendor and the performing organization.

Cost baseline \n

This is the aggregated costs of all of the work packages within the work breakdown structure (WBS).

Cost management plan

This plan details how the project costs will be planned for, estimated, budgeted, and then monitored and controlled.

Explicit knowledge

Knowledge that can be quickly and easily expressed through conversations, documentation, figures, or numbers, is easily communicated.

Future value

A benefit comparison model to determine a future value of money. The formula to calculate future value is FV = PV(1 + I)n, where PV is present value, I is the given interest rate, and n is the number of periods.

Integrated change control

A process to consider and control the impact of a proposed change on the project’s knowledge areas.

Issue log

Issues are points of contention where some question of the project’s direction needs to be resolved. All identified issues are documented in the issue log, along with an issue owner and a deadline to resolve the issue. The outcome of the issue is also recorded.

Mathematical model

A project selection method to determine the likelihood of success. These models include linear programming, nonlinear programming, dynamic programming, integer programming, and multiobjective programming.

Milestone

Milestones are significant points or events in the project’s progress that represent accomplishment in the project. Projects usually create milestones as the result of completing phases within the project.

Milestone list

This list details the project milestones and their attributes. It is used for several areas of project planning, but also helps determine how quickly the project may be achieving its objectives

Murder boards

These are committees that ask every conceivable negative question about the proposed project. Their goals are to expose the project’s strengths and weaknesses, and to kill the project if it’s deemed unworthy for the organization to commit to. Also known as project steering committees or project selection committees.

Net present value

Evaluates the monies returned on a project for each period the project lasts.

Payback period

An estimate to predict how long it will take a project to pay back an organization for the project’s investment of capital.