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Flashcards in Project+ Essentials Deck (67)
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1

Define a project.

A project brings about a unique product, service, or result and has definite beginning and ending dates.
 

2

Identify the difference between a project and ongoing operations.

A project is a temporary endeavor to create a unique product or service. Operational work is ongoing and repetitive.

3

Name the three types of organizational structures.

The three types of organizational structures are functional, matrix, and project - based structures. Matrix organizations may be structured as a strong matrix, weak matrix, or balanced matrix organization.

4

Define the role of a project manager.

A project manager’s core function is project integration. A project manager leads the project team and oversees all the work required to complete the project goals to the satisfaction of the stakeholders.

5

Identify the most common project selection methods.

The most common project selection methods are benefit measurement methods such as cost-benefit analysis, scoring models, payback period, and economic models (which include discounted cash flows, NPV, and IRR), as well as expert judgment.

6

What skills are needed to manage a project beyond technical knowledge of the product.

Key general management skills include leadership, communication, problem solving, negotiation, organization, and time management.

7

Define the Initiating process.

Initiation authorizes the project to begin.

8

Understand the three categories of requirements.

Functional requirements define how the user will interact with the system. Business requirements are the big picture of what the business wants from the system. Technical requirements define what the system does to perform the functional requirements.

9

Define a project sponsor to most projects.

A project sponsor is an executive in the organization who has the authority to allocate dollars and resources to the project.

10

Be able to describe stakeholders common to most projects.

A stakeholder is an organization or someone who has a vested interest in the project and has something to gain or lose from the project. Stakeholders include the sponsor, project manager, project team members, functional managers, customer, end users, and others with an interest in the project.

11

Describe a project charter and list the key components.

A project charter provides formal approval for the project to begin and authorizes the project manager to apply resources to the project. The key components are the problem statement, deliverables, milestones, costs, assumptions, constraints, risks, stakeholders, and project description..

12

Describe the purpose of a scope management plan.

A scope management plan documents the procedures for preparing the project scope statement and WBS, defines how the deliverables will be verified, and describes the process for controlling scope change requests.

13

Discuss the purpose of the scope statement.

The scope statement is the basis of the agreement between the project and the customer concerning what comprises the work of the project. It defines the deliverables and success criteria that will meet those objectives.

14

List the components of a scope statement.

A scope statement includes a product description, key deliverables, success and acceptance criteria, key performance indicators, exclusions, assumptions, and constraints.

15

Define and create a work breakdown structure (WBS).

The WBS is a deliverable - oriented hierarchy that describes the work required to complete the project. The WBS is a multilevel tree diagram that starts with the project, includes the major deliverables, and decomposes the major deliverables into smaller units of work to the point where time and cost estimates can be provided and resources assigned.

16

Define the levels in a WBS.

The highest level of the WBS is the project name. The major deliverables, project phases, or subprojects make up the next level. The number of levels in a WBS will vary by project; however, the lowest level of the WBS is a work package.

17

Describe a WBS dictionary.

The WBS dictionary describes each of the deliverables and their components and includes a code of accounts identifier, estimates, resources, criteria for acceptance, and any other information that helps clarify the deliverables.

18

Name the two major relationships between dependent tasks.

A predecessor is a task that exists on a path with another task and occurs before the task in question. A successor is a task that exists on a common path with another task and occurs after the task in question.

19

Name the four types of logical relationships.

The four types of logical relationships are:

- finish-to-start

- start-to-start

- start-to-finish

- finish-to-finish

20

Know and understand the five most commonly used techniques to estimate activity duration.

Expert judgment relies on the knowledge of someone familiar with the tasks.

Analogous or top-down estimating bases the estimate on similar activities from a previous project.

Parametric estimates are quantitatively based estimates that typically calculate the rate times quantity.

Three-point estimates use the most likely, optimistic, and pessimistic estimates to determine an average estimate.

PERT uses the same estimates as the three - point estimating technique, but it calculates an expected value or weighted average estimate.

21

Define the purpose of CPM.

CPM calculates the longest path in the project. This path controls the finish date of the project. Any delay to a critical path task will delay the completion date of the project.

22

Explain a network diagram.

A network diagram is used in Activity Sequencing to depict project activities and the interrelationships and dependencies among these activities.

23

Name the two most common ways project schedules are displayed.

Project schedules are typically displayed as milestone charts or Gantt charts; a Gantt chart is a type of bar chart.

24

Describe the importance of Communications Planning.

Communications Planning is the key to project success. It involves determining who needs information, when, and in what format, and the frequency of the communication.

25

Describe Resource Planning.

Resource Planning determines what resources are needed  for the project, including human, equipment, and material.
 

26

Describe a RAM.

A RAM is a resource assignment matrix that shows the WBS identifier, the type of resource required, and the number of resources for each skill set. An RACI chart is a type of RAM that describes the resources and their level of responsibility, including responsible, accountable, consult, or inform.

27

Describe the two components of Human Resources Planning.

The two components are organizational planning and staff acquisition.
 

28

Be able to describe make-or-buy analysis. 

Make-or-buy analysis is performed in order to
determine the cost-effectiveness of either making or buying the goods and services you need for the project.
 

29

Be able to name the types of contracts.

The contract types include fixed-price, cost- reimbursable, and time and materials.
 

30

Know the difference between analogous, parametric, and bottom-up estimating.

 

Analogous, or top-down, estimates use expert judgment and historical data to provide a high - level estimate for the entire project, a phase of the project, or a deliverable.

Parametric estimates use a mathematical model to create the estimates.

The bottom-up method starts at the lowest level of the WBS and calculates the cost of each item
within the work packages to obtain a total cost for the project or deliverable.