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Untitled Flashcards Set
Question | Answer |
What are the five process groups? | Initiating, Planning, Executing, Monitoring and Controlling, Closing |
What is a Work Breakdown Structure (WBS)? | A hierarchical breakdown of project deliverables into manageable parts |
What is Scope Creep? | Uncontrolled expansion of project scope without adjustments to time, cost, or resources |
What is the Critical Path? | The longest sequence of tasks determining the minimum project duration |
What are the three Triple Constraints? | Scope, Time, Cost |
What is a Sprint in Agile? | A fixed time period (usually 1-4 weeks) for completing a set of work |
What is Earned Value Management (EVM)? | A technique to measure project performance against baselines |
What does SMART stand for? | Specific, Measurable, Achievable, Relevant, Time-bound |
What is a Risk Register? | A document recording identified risks, their impact, and mitigation strategies |
What is a Stakeholder Analysis? | A process to identify stakeholders, assess influence, and plan engagement |
What is the purpose of the Project Charter? | To formally authorize the project and define its objectives and key stakeholders |
Who approves the Project Charter? | The project sponsor or initiator |
What is a key output of the Initiating process group? | Project Charter and Stakeholder Register |
What is the first step in project planning? | Develop the Project Management Plan |
What is a Gantt Chart? | A bar chart that illustrates a project schedule, showing task durations and dependencies |
What is the purpose of a Project Management Plan? | To define how the project will be executed, monitored, and controlled |
What is a Milestone? | A significant point or event in the project schedule with zero duration |
What is the difference between a task and a deliverable? | A task is an action to be performed; a deliverable is a tangible outcome of a task |
What is a Project Scope Statement? | A document defining the project’s boundaries, deliverables, and acceptance criteria |
What is Decomposition in project management? | The process of subdividing project deliverables into smaller, manageable components |
What is the Schedule Baseline? | The approved version of the project schedule used to measure performance |
What does CPI stand for in Earned Value Management? | Cost Performance Index (EV / AC) |
What does a CPI less than 1 indicate? | The project is over budget |
What is a Cost Baseline? | The approved time-phased budget used to measure cost performance |
What is the formula for Schedule Variance (SV)? | SV = Earned Value (EV) - Planned Value (PV) |
What is Quality Assurance? | The process of ensuring that quality standards are met during project execution |
What is Quality Control? | The process of monitoring deliverables to ensure they meet quality requirements |
What is a Resource Histogram? | A bar chart showing resource allocation over time |
What is the purpose of a Communication Plan? | To define how information will be shared with stakeholders |
What is a Risk? | An uncertain event that could impact project objectives if it occurs |
What is Risk Appetite? | The level of risk an organization or stakeholder is willing to accept |
What is a Procurement Statement of Work (SOW)? | A description of the products or services to be supplied by a vendor |
What is the purpose of a Stakeholder Register? | To document stakeholders’ details, influence, and interest in the project |
What is the Closing process group responsible for? | Finalizing all project activities and formally closing the project |
What is a Lessons Learned Register? | A document capturing insights and experiences from the project for future use |
What is a Sprint Backlog? | The list of tasks selected for a specific sprint in Agile |
Who is responsible for the Sprint Backlog? | The Scrum Team (developers) |
What is the role of a Scrum Master? | To facilitate the Scrum process, remove impediments, and support the team |
What is a Product Owner responsible for? | Defining the product vision and prioritizing the Product Backlog |
What is a Daily Scrum? | A 15-minute meeting for the team to synchronize and plan the day’s work |
What is a Burndown Chart? | A graph showing the amount of work remaining in a sprint over time |
What is Kanban? | A visual workflow management method using a board to track tasks |
What is the purpose of a Definition of Done (DoD)? | To establish criteria for when a task or increment is considered complete |
What is a User Story? | A short, simple description of a feature from the end user’s perspective |
What is the formula for Cost Variance (CV)? | CV = Earned Value (EV) - Actual Cost (AC) |
What does SPI stand for? | Schedule Performance Index (EV / PV) |
What does an SPI greater than 1 indicate? | The project is ahead of schedule |
What is a RACI chart? | A matrix showing who is Responsible, Accountable, Consulted, and Informed for tasks |
What is a Kickoff Meeting? | A meeting to align the team and stakeholders on project goals and plans |
What is the purpose of a Change Control Board (CCB)? | To review and approve or reject change requests |
What is a Dependency in project scheduling? | A relationship where one task relies on the completion or start of another task |
What is Float (or Slack)? | The amount of time a task can be delayed without affecting the project schedule |
What is a Project Baseline? | The original approved plan (scope, schedule, cost) used as a reference point |
What is the difference between Qualitative and Quantitative Risk Analysis? | Qualitative assesses likelihood and impact; Quantitative uses numerical data to analyze |
What is a Contingency Reserve? | Time or money set aside for identified risks |
What is a Management Reserve? | Time or money set aside for unforeseen risks |
What is the purpose of a Project Dashboard? | To provide a visual summary of project performance metrics |
What is a Stakeholder Engagement Plan? | A plan to manage stakeholder expectations and involvement |
What is the Tuckman Model? | A theory of team development: Forming, Storming, Norming, Performing, Adjourning |
What is a Benefit-Cost Ratio (BCR)? | A metric comparing the benefits of a project to its costs (BCR = Benefits / Costs) |
What is the primary output of the Planning process group? | Project Management Plan and subsidiary plans (e.g., Scope, Schedule, Cost) |
What is a Precedence Diagramming Method (PDM)? | A technique to show task dependencies using nodes and arrows (e.g., Finish-to-Start) |
What is a Finish-to-Start (FS) dependency? | A task must finish before the next one can start |
What is a Start-to-Finish (SF) dependency? | A task must start before another can finish (rarely used) |
What is the purpose of a Resource Calendar? | To identify the availability of resources (people, equipment) over time |
What is Resource Leveling? | A technique to balance resource use by adjusting the schedule |
What is Fast Tracking? | Performing tasks in parallel that were originally sequential to shorten the schedule |
What is Crashing? | Adding resources to critical path tasks to shorten the schedule, often increasing costs |
What is a Schedule Network Diagram? | A graphical representation of task dependencies and sequence |
What is the formula for Planned Value (PV)? | The budgeted cost of work scheduled up to a specific point in time |
What is the purpose of a Quality Management Plan? | To define how quality will be planned, assured, and controlled |
What is a Control Chart? | A tool to monitor process stability and determine if it’s within acceptable limits |
What is a Cause-and-Effect Diagram? | A fishbone diagram used to identify root causes of quality issues |
What is the 80/20 Rule in project management? | The Pareto Principle: 80% of problems come from 20% of causes |
What is a Risk Response Strategy for a threat? | Avoid, Mitigate, Transfer, or Accept |
What is a Risk Response Strategy for an opportunity? | Exploit, Enhance, Share, or Accept |
What does "Mitigate" mean in risk management? | To reduce the probability or impact of a risk |
What does "Exploit" mean in risk management? | To ensure a positive risk (opportunity) occurs |
What is a Risk Breakdown Structure (RBS)? | A hierarchical chart categorizing project risks |
What is Monte Carlo Analysis? | A simulation technique to assess schedule or cost risk using probability distributions |
What is a Probability and Impact Matrix? | A grid to prioritize risks based on their likelihood and severity |
What is the purpose of a Procurement Management Plan? | To outline how procurement processes will be managed (e.g., contracts, vendors) |
What is a Make-or-Buy Decision? | Determining whether to produce an item in-house or purchase it externally |
What is a Fixed-Price Contract? | A contract where the buyer pays a set price regardless of the seller’s costs |
What is a Cost-Reimbursable Contract? | A contract where the buyer pays the seller’s costs plus a fee |
What is the purpose of a Requirements Traceability Matrix (RTM)? | To link requirements to deliverables and ensure they are met |
What is Scope Validation? | The process of formally accepting completed project deliverables |
What is a Control Account? | A management control point where scope, cost, and schedule are integrated |
What is the purpose of the Monitor and Control Project Work process? | To track, review, and adjust project progress against the plan |
What is a Variance Analysis? | Comparing planned vs. actual performance to identify deviations |
What is Trend Analysis? | Examining project performance over time to predict future outcomes |
What is the purpose of an Issue Log? | To document and track issues that arise during the project |
What is a Change Log? | A record of all change requests, their status, and outcomes |
What is the purpose of the Perform Integrated Change Control process? | To review, approve, and manage changes to project baselines |
What is a Configuration Management Plan? | A plan to control changes to project deliverables and documentation |
What is the purpose of Closing a Procurement? | To finalize contracts and ensure all terms are met |
What is an Agile Retrospective? | A meeting at the end of a sprint to reflect on what went well and what to improve |
What is a Product Backlog? | A prioritized list of features and requirements for the product |
What is a Scrum Artifact? | A tangible output of Scrum (e.g., Product Backlog, Sprint Backlog, Increment) |
What is the purpose of a Sprint Review? | To inspect the increment and adapt the Product Backlog as needed |
What is a Velocity in Agile? | The average amount of work a team completes per sprint (e.g., story points) |
What is Pair Programming? | Two developers working together at one workstation to write code |
What is a Kanban Board? | A visual tool with columns (e.g., To Do, In Progress, Done) to manage workflow |
What is Work in Progress (WIP) in Kanban? | The number of tasks currently being worked on; often limited to improve flow |
What is a Burnup Chart? | A graph showing work completed over time against the total scope |
What is the role of a Project Sponsor? | To provide funding, support, and high-level guidance for the project |
What is Emotional Intelligence (EI) in leadership? | The ability to understand and manage emotions to lead and motivate a team |
What is a Conflict Resolution Technique? | Examples: Collaborating, Compromising, Smoothing, Forcing, Avoiding |
What is a Team Charter? | A document defining team roles, norms, and goals |
What is the Net Present Value (NPV)? | A financial metric to evaluate a project’s profitability by discounting future cash flows |
What is the purpose of the Direct and Manage Project Work process? | To lead and perform the work defined in the project management plan |
What is a Deliverable? | A unique, verifiable product or result produced by a project |
What is the purpose of a Work Performance Report? | To summarize project performance data for stakeholders |
What is a Key Performance Indicator (KPI)? | A measurable value to assess project success (e.g., schedule adherence, budget variance) |
What is the formula for Estimate at Completion (EAC)? | EAC = AC + (BAC - EV) / CPI (assumes current performance continues) |
What is Budget at Completion (BAC)? | The total planned budget for the project |
What does a negative Cost Variance (CV) indicate? | The project is over budget |
What is a To-Complete Performance Index (TCPI)? | A measure of cost performance needed to meet a budget goal (TCPI = (BAC - EV) / (BAC - AC)) |
What is the purpose of a Control Scope process? | To monitor and manage changes to the project scope |
What is a Scope Change? | Any modification to the agreed-upon project scope |
What is the purpose of a Quality Audit? | To evaluate whether project activities comply with quality standards |
What is a Histogram used for in quality management? | To display the distribution of data (e.g., defects) over a range |
What is a Scatter Diagram? | A chart showing the relationship between two variables (e.g., time vs. defects) |
What is the purpose of a Risk Review? | To assess the effectiveness of risk responses and identify new risks |
What is a Secondary Risk? | A risk that arises as a result of implementing a risk response |
What is a Residual Risk? | A risk that remains after a response has been implemented |
What is a Risk Trigger? | An event or condition that indicates a risk is about to occur |
What is a Contract Change Control System? | A process to manage changes to procurement contracts |
What is a Source Selection Criteria? | Factors (e.g., cost, quality, experience) used to evaluate vendor proposals |
What is a Request for Proposal (RFP)? | A document soliciting detailed proposals from vendors for specific goods/services |
What is a Request for Quotation (RFQ)? | A document requesting price quotes for standard goods or services |
What is a Statement of Work (SOW)? | A narrative description of the work to be performed under a contract |
What is the purpose of a Vendor Bid Analysis? | To evaluate vendor proposals to ensure fair pricing and value |
What is a Procurement Audit? | A review of procurement processes to ensure compliance and identify improvements |
What is a Closed Procurement? | A procurement contract that has been finalized and all obligations met |
What is Stakeholder Identification? | The process of determining who is affected by or can influence the project |
What is a Power/Interest Grid? | A tool to classify stakeholders based on their power and interest in the project |
What does "Manage Stakeholder Engagement" involve? | Communicating and working with stakeholders to meet their needs and expectations |
What is a Stakeholder Management Strategy? | An approach to influence and satisfy stakeholder needs throughout the project |
What is the purpose of a Communication Requirements Analysis? | To determine the information needs of project stakeholders |
What is a Project Artifact? | Any document or deliverable produced during the project (e.g., plans, reports) |
What is the purpose of a Sprint Planning meeting? | To define the sprint goal and select items from the Product Backlog for the sprint |
What is an Increment in Scrum? | The sum of all completed Product Backlog items at the end of a sprint |
What is the purpose of a Product Vision? | To provide a high-level goal or purpose for the product being developed |
What is a Story Point? | A unit of measure for estimating the effort required to complete a user story |
What is Refactoring in Agile? | Improving code or design without changing its functionality |
What is a Minimum Viable Product (MVP)? | A product with just enough features to satisfy early users and gather feedback |
What is Continuous Integration (CI)? | A practice of frequently integrating code changes into a shared repository |
What is a Timebox? | A fixed period allocated for an activity (e.g., a sprint or meeting) |
What is the purpose of a Risk Burndown Chart? | To track the reduction of risk exposure over time |
What is a Leadership Style in the People domain? | Examples: Autocratic, Democratic, Laissez-Faire, Servant Leadership |
What is Motivation Theory in project management? | Concepts like Maslow’s Hierarchy or Herzberg’s Two-Factor Theory to inspire teams |
What is a Virtual Team? | A team working together remotely, often across different locations or time zones |
What is the purpose of a Team Performance Assessment? | To evaluate how effectively the team is working together |
What is a Business Case? | A document justifying the project by outlining its benefits, costs, and risks |
What is Organizational Process Assets (OPA)? | Policies, templates, and historical data available to support project execution |
What is an Enterprise Environmental Factor (EEF)? | External or internal conditions affecting the project (e.g., culture, regulations) |
What is a Payback Period? | The time required for a project to recover its initial investment |
What is the purpose of a Benefits Management Plan? | To define how project benefits will be delivered and measured |
What is a Project Governance Framework? | The structure and rules for overseeing and managing the project |
What is the purpose of the Acquire Resources process? | To obtain the team, equipment, and materials needed for the project |
What is a Resource Management Plan? | A plan detailing how resources will be acquired, managed, and released |
What is a Responsibility Assignment Matrix (RAM)? | A chart showing who is responsible for what tasks (e.g., RACI) |
What is the purpose of the Develop Team process? | To improve team competencies, interaction, and overall performance |
What is a Team Building Activity? | An exercise to enhance trust and collaboration among team members |
What is the purpose of the Manage Project Knowledge process? | To capture and share lessons learned and knowledge for current and future projects |
What is Explicit Knowledge? | Knowledge that can be easily documented and shared (e.g., manuals, reports) |
What is Tacit Knowledge? | Knowledge that is hard to formalize and share (e.g., experience, intuition) |
What is a Knowledge Management Tool? | Examples: Databases, wikis, or collaboration platforms to store and share knowledge |
What is the purpose of a Quality Report? | To summarize quality performance and issues for stakeholders |
What is a Test and Evaluation Document? | A record of test results to verify deliverables meet requirements |
What is the purpose of the Control Quality process? | To verify that deliverables meet quality standards before acceptance |
What is a Checklist in quality management? | A structured tool to ensure all quality steps or requirements are addressed |
What is a Quality Metric? | A specific measure of quality (e.g., defect rate, on-time delivery percentage) |
What is the purpose of a Communication Model? | To illustrate how information flows between sender and receiver (e.g., encode-decode) |
What is a Communication Method? | Examples: Push (email), Pull (intranet), Interactive (meetings) |
What is the purpose of the Manage Communications process? | To ensure timely and appropriate collection, distribution, and storage of information |
What is a Project Status Report? | A document summarizing progress, issues, and performance metrics |
What is the purpose of a Risk Reassessment? | To review and update the risk register as the project progresses |
What is a Risk Owner? | The person responsible for monitoring and managing a specific risk |
What is a Risk Threshold? | The level of risk exposure that triggers a response |
What is the purpose of a Procurement Performance Review? | To assess vendor performance against contract terms |
What is a Breach of Contract? | A failure to fulfill the terms of a contract, potentially leading to legal action |
What is a Contract Negotiation? | The process of agreeing on terms and conditions between buyer and seller |
What is the purpose of a Procurement Closure Report? | To document the outcomes and lessons learned from a procurement process |
What is the purpose of a Stakeholder Feedback Survey? | To gather input from stakeholders on project performance and satisfaction |
What is a Stakeholder Issue? | A concern or conflict raised by a stakeholder that needs resolution |
What is the purpose of the Monitor Stakeholder Engagement process? | To ensure stakeholder engagement strategies remain effective |
What is a Stakeholder Expectation? | What a stakeholder anticipates from the project (e.g., deliverables, timeline) |
What is the purpose of a Project Closure Report? | To document the project’s outcomes, deliverables, and lessons learned |
What is a Final Product Transition? | The handover of the project’s deliverables to the customer or operations |
What is the purpose of a Project Review Meeting? | To evaluate project success and identify areas for improvement |
What is a Post-Project Evaluation? | An assessment of project performance after completion to capture lessons learned |
What is the purpose of archiving project documents? | To preserve records for future reference, audits, or compliance |
What is a Release Criteria in Agile? | Standards that must be met to release an increment or product |
What is a Sprint Goal? | A short statement defining the objective of a sprint |
What is the purpose of a Backlog Refinement? | To review, prioritize, and estimate effort for items in the Product Backlog |
What is an Epic in Agile? | A large user story that needs to be broken down into smaller stories |
What is a Feature in Agile? | A distinct piece of functionality that delivers value to the user |
What is a Task Board? | A visual tool (physical or digital) to track task progress in Agile |
What is Test-Driven Development (TDD)? | A practice where tests are written before code to guide development |
What is a Definition of Ready (DoR)? | Criteria that a user story must meet before it can be taken into a sprint |
What is a Servant Leader? | A leader who focuses on serving the team by removing obstacles and enabling success |
What is a Performance Domain in PMP? | Key areas of focus: People, Process, Business Environment |
What is a Value Delivery System? | The process of delivering benefits to stakeholders through project outcomes |
What is a Project Life Cycle? | The phases a project goes through (e.g., predictive: initiate-plan-execute-close) |
What is a Predictive Life Cycle? | A traditional approach where scope, schedule, and cost are defined upfront |
What is an Adaptive Life Cycle? | An Agile approach where plans evolve iteratively based on feedback |
What is a Hybrid Life Cycle? | A mix of predictive and adaptive approaches tailored to the project |
What is the purpose of a Feasibility Study? | To assess whether a project is viable in terms of cost, time, and technical feasibility |
What is a Risk Audit? | An evaluation of the risk management process’s effectiveness |
What is a Risk Probability? | The likelihood that a risk will occur, often expressed as a percentage or rating |
What is a Risk Impact? | The potential effect of a risk on project objectives (e.g., cost, schedule, quality) |
What is a Risk Exposure? | The combined measure of a risk’s probability and impact |
What is a Watch List in risk management? | A list of low-priority risks that are monitored but not actively managed |
What is a Risk Acceptance strategy? | Acknowledging a risk without taking proactive action unless it occurs |
What is a Risk Transfer strategy? | Shifting the risk to another party (e.g., insurance, outsourcing) |
What is a Risk Avoidance strategy? | Changing the project plan to eliminate the risk or its conditions |
What is a Risk Mitigation Plan? | Specific actions to reduce the likelihood or impact of a risk |
What is a Qualitative Risk Analysis? | Prioritizing risks based on their probability and impact without numerical data |
What is a Quantitative Risk Analysis? | Using numerical data (e.g., simulations) to assess risk impact on project objectives |
What is a Decision Tree Analysis? | A diagramming technique to evaluate choices and their risks/costs |
What is an Expected Monetary Value (EMV)? | A risk calculation: EMV = Probability × Impact |
What is a Sensitivity Analysis? | A technique to determine which risks have the most impact on project outcomes |
What is a Procurement Strategy? | The approach to acquiring goods/services (e.g., single source, competitive bidding) |
What is a Bid Document? | Materials provided to vendors to submit proposals (e.g., RFP, RFQ) |
What is a Non-Disclosure Agreement (NDA)? | A contract to protect confidential information shared with vendors |
What is a Letter of Intent (LOI)? | A preliminary agreement signaling intent to enter a contract |
What is a Vendor Performance Metric? | A measure of supplier performance (e.g., delivery time, quality) |
What is a Procurement Negotiation Technique? | Examples: Win-Win, Competitive, Collaborative |
What is a Sole Source Procurement? | Buying from a single vendor without competition due to unique capabilities |
What is a Time and Materials (T&M) Contract? | A contract where payment is based on time spent and materials used |
What is a Claims Administration process? | Managing disputes or claims arising from procurement contracts |
What is a Procurement Risk? | Uncertainty related to vendor performance, delivery, or costs |
What is a Stakeholder Register update? | Revising stakeholder details as new information emerges during the project |
What is a Stakeholder Influence? | The ability of a stakeholder to affect project decisions or outcomes |
What is a Stakeholder Interest? | The level of concern a stakeholder has in the project’s success |
What is a Stakeholder Communication Channel? | The number of potential communication paths: n(n-1)/2, where n is the number of people |
What is a Stakeholder Conflict? | A disagreement between stakeholders that may impact the project |
What is a Stakeholder Engagement Assessment Matrix? | A tool to compare current vs. desired stakeholder engagement levels |
What is a Stakeholder Satisfaction Metric? | A measure of how well stakeholder expectations are met (e.g., survey results) |
What is a Stakeholder Escalation Process? | Steps to resolve stakeholder issues by involving higher authority |
What is a Sprint Burndown Chart? | A graph tracking remaining work in a sprint against time |
What is a Product Increment? | The usable output of a sprint that adds to previous increments |
What is a Scrum Team size recommendation? | Typically 3-9 members, excluding Scrum Master and Product Owner |
What is a Product Goal in Scrum? | A long-term objective for the product that guides the Product Backlog |
What is a Sprint Retrospective Outcome? | Action items to improve team processes in future sprints |
What is a Kanban Pull System? | Work is pulled into the process only when capacity allows, avoiding overload |
What is a Cumulative Flow Diagram (CFD)? | A chart showing work status (e.g., To Do, In Progress, Done) over time |
What is a Lean Principle in Agile? | Examples: Eliminate waste, deliver fast, optimize the whole |
What is a User Acceptance Criteria? | Conditions that must be met for a user story to be considered complete |
What is a Technical Debt? | The cost of future rework due to shortcuts taken in development |
What is a Cross-Functional Team? | A team with all the skills needed to complete the work without external dependencies |
What is a Conflict Management Strategy? | Examples: Problem-solving, compromising, or withdrawing |
What is a Team Velocity Trend? | The pattern of a team’s capacity to complete work over multiple sprints |
What is a Project Value Statement? | A concise explanation of the benefits the project delivers |
What is a Strategic Alignment? | Ensuring the project supports organizational goals and priorities |
What is a Return on Investment (ROI)? | A metric: (Net Profit / Investment Cost) × 100 |
What is a Cost-Benefit Analysis? | Comparing the costs of a project to its expected benefits |
What is a Project Portfolio? | A collection of projects managed together to achieve strategic objectives |
What is the purpose of the Close Project or Phase process? | To finalize all activities, verify deliverables, and release resources |
What is a Project Acceptance Criteria? | Conditions that must be met for the project to be accepted by the customer |
What is a Final Report? | A comprehensive document summarizing project performance and outcomes |
What is the purpose of a Customer Satisfaction Survey? | To gather feedback from the client on project success and deliverables |
What is a Project Closure Checklist? | A tool to ensure all closing tasks (e.g., approvals, documentation) are completed |
What is a Release of Resources? | Freeing team members, equipment, and materials after project completion |
What is a Contract Closure? | Verifying that all contractual obligations have been met and formally closing it |
What is the purpose of celebrating project success? | To recognize team efforts and boost morale for future projects |
What is a Lessons Learned Repository? | A centralized storage for project insights to benefit future projects |
What is a Post-Implementation Review (PIR)? | An evaluation of the project’s outcomes after it’s been in use |
What is the formula for Cost Performance Index (CPI)? | CPI = Earned Value (EV) / Actual Cost (AC) |
What is the formula for Schedule Performance Index (SPI)? S | PI = Earned Value (EV) / Planned Value (PV) |
What is the formula for Estimate to Complete (ETC)? | ETC = (BAC - EV) / CPI (assumes current performance continues) |
What is the formula for Variance at Completion (VAC)? | VAC = Budget at Completion (BAC) - Estimate at Completion (EAC) |
What does a TCPI greater than 1 indicate? | More effort is needed to stay within budget than originally planned |
What is the PERT formula for estimating duration? | (Optimistic + 4 × Most Likely + Pessimistic) / 6 |
What is the purpose of Three-Point Estimating? | To improve accuracy by considering best-case, worst-case, and most likely scenarios |
What is a Standard Deviation in PERT? | (Pessimistic - Optimistic) / 6; measures estimate uncertainty |
What is a Confidence Level in scheduling? | The probability that a schedule estimate is accurate (e.g., 95% with 2 standard deviations) |
What is a Cost of Quality (COQ)? | The total cost of ensuring quality (prevention, appraisal) and addressing failures |
What is a Scrum of Scrums? | A meeting to coordinate multiple Scrum teams working on the same project |
What is a Spike in Agile? | A timeboxed investigation to research a technical or functional issue |
What is a Planning Poker? | A consensus-based estimation technique using cards to assign story points |
What is a Done Increment? | A product increment that meets the Definition of Done and is potentially shippable |
What is a Product Roadmap? | A high-level visual plan showing the development and release of product features |
What is a Release Plan in Agile? | A schedule for delivering increments or features to stakeholders |
What is a Daily Standup purpose? | To align the team on progress, plans, and impediments in a short meeting |
What is a Kanban Cycle Time? | The time it takes for a task to move from start to finish in the workflow |
What is a Throughput in Kanban? | The number of tasks completed in a given time period |
What is a Bottleneck in Kanban? | A stage in the workflow where tasks pile up, slowing progress |
What is a Negotiation Technique in team management? | Examples: Active listening, bargaining, or finding mutual gains |
What is a Reward and Recognition System? | A method to acknowledge team achievements (e.g., bonuses, praise) |
What is a Colocated Team? | A team working together in the same physical location |
What is a Project Vision Statement? | A brief description of the project’s purpose and desired end state |
What is a Business Requirement? | A high-level need or goal the project must address to deliver value |
What is a Project Selection Method? | Techniques like NPV, IRR, or scoring models to choose projects |
What is an Internal Rate of Return (IRR)? | The discount rate where NPV equals zero; used to evaluate project profitability |
What is a Program in project management? | A group of related projects managed together to achieve broader benefits |
What is a PMO (Project Management Office)? | An entity that standardizes project processes and supports project execution |
What is a Project Success Criteria? | Measurable standards to determine if the project met its objectives  |
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