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Flashcards in Project+ Essentials Deck (67)
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1
Q

Define a project.

A

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

2
Q

Identify the difference between a project and ongoing operations.

A

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

3
Q

Name the three types of organizational structures.

A

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
Q

Define the role of a project manager.

A

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
Q

Identify the most common project selection methods.

A

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
Q

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

A

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

7
Q

Define the Initiating process.

A

Initiation authorizes the project to begin.

8
Q

Understand the three categories of requirements.

A

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
Q

Define a project sponsor to most projects.

A

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

10
Q

Be able to describe stakeholders common to most projects.

A

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
Q

Describe a project charter and list the key components.

A

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
Q

Describe the purpose of a scope management plan.

A

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
Q

Discuss the purpose of the scope statement.

A

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
Q

List the components of a scope statement.

A

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

15
Q

Define and create a work breakdown structure (WBS).

A

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
Q

Define the levels in a WBS.

A

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
Q

Describe a WBS dictionary.

A

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
Q

Name the two major relationships between dependent tasks.

A

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
Q

Name the four types of logical relationships.

A

The four types of logical relationships are:

  • finish-to-start
  • start-to-start
  • start-to-finish
  • finish-to-finish
20
Q

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

A

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
Q

Define the purpose of CPM.

A

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
Q

Explain a network diagram.

A

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

23
Q

Name the two most common ways project schedules are displayed.

A

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

24
Q

Describe the importance of Communications Planning.

A

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
Q

Describe Resource Planning.

A

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

26
Q

Describe a RAM.

A

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
Q

Describe the two components of Human Resources Planning.

A

The two components are organizational planning and staff acquisition.

28
Q

Be able to describe make-or-buy analysis.

A

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
Q

Be able to name the types of contracts.

A

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

30
Q

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

A

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.

31
Q

Name the two discretionary funding allocations a project may receive.

A

The two types of discretionary funding are a contingency reserve and a management reserve.

Contingency reserves are monies set aside to cover the cost of possible adverse events. Management reserves are set aside by upper management and are used to cover future situations that can’t be predicted during project planning.

32
Q

Explain the purpose of a cost baseline.

A

The cost baseline is the total approved, expected cost for the project. It’s used in the Executing and Monitoring and Controlling processes to monitor the performance of the project budget throughout the project.

33
Q

Name the Quality Planning tools and techniques.

A

The Quality Planning tools and techniques are cost-benefit analysis, benchmarking, flowcharting, and cost of quality.

34
Q

Name the types of costs associated with the cost of quality.

A

The types of costs associated with the cost of quality are prevention costs, appraisal costs, and failure costs. Failure costs include both internal and external failure costs.

35
Q

Explain the three processes used to develop a risk management plan.

A

Risk Identification is the process of identifying and documenting the potential risk events that may occur on the project.

Risk analysis evaluates the severity of the impact to the project and the probability that the risk will actually occur.

Risk response planning is the process of reviewing the list of potential risks impacting the project to determine what, if any, action should be taken and then documenting it in a response plan.

36
Q

Name the negative risk response strategies.

A

The negative risk response strategies are avoid, transfer, mitigate, and accept.

37
Q

Name the positive risk response strategies.

A

The positive risk response strategies are exploit, share, and enhance.

38
Q

Name some of the common causes of conflict.

A

Common causes are competing resource demands, expert judgment, and varying work styles.

39
Q

Name the conflict - resolution techniques.

A

The techniques are smoothing, forcing, compromise, confronting, avoiding, and negotiating.

40
Q

Name the conflict - resolution technique most often used by project managers.

A

This is confronting, also known as problem solving. This technique involves discovering the facts regarding the issue and letting the facts help define the solution.

41
Q

State the five stages of team development.

A

They are forming, storming, norming, performing, and adjourning.

42
Q

Understand the various means to recognize or reward team members.

A

Team member contributions can be recognized with monetary rewards or prizes, a mention in the formal
project review or status meeting, a letter to executive management, a thank - you, or a team celebration.

43
Q

State the purpose of a project kickoff meeting.

A

The project kickoff meeting is a way to formally introduce all project team members, to review the goals and the deliverables for the project, to discuss roles and responsibilities, and to review stakeholder expectations.

44
Q

Explain the importance of organizational governance.

A

Organizational governance recognizes the importance of regulations, laws, and other standards that may impact
the project. This also involves internal processes, version control, and checkin/checkout processes.

45
Q

Name and describe the three types of change requests.

A

- Corrective actions bring the work of the project into alignment with the project plan,

- Preventive actions are implemented to help reduce the probability of a negative risk event.

- Defect repairs correct or replace components that are substandard or malfunctioning.

46
Q

Describe the possible impacts to check for when evaluating a major change to the project scope.

A

A major change to the project scope may impact the critical path, schedule end date, budget, and resources, as well as introduce new risks.

47
Q

Describe the elements of a change management process.

A

The elements of a change management process include change request forms, a change request log, analysis of changes, the CCB, coordination and communication with stakeholders, and updating the affected project planning documents.

48
Q

Explain the purpose of a change control board (CCB).

A

The change control board reviews, approves, denies, or
delays change requests.

49
Q

Describe the purpose for the Scope Control process.

A

Scope Control involves monitoring the status of the project scope, monitoring changes to the project scope, and monitoring work results to ensure that they match expected outcomes.

50
Q

Describe the purpose for the Scope Verification process.

A

Scope Verification involves formally accepting completed deliverables and obtaining sign - off from the stakeholders
indicating the deliverables are satisfactory and meet the stakeholders’ expectations.

51
Q

Describe the purpose for the Schedule Control process.

A

Schedule Control involves determining the status of the project schedule, determining whether changes have occurred or should occur, and influencing and managing schedule changes.

52
Q

Describe the Risk Monitoring and Control Process.

A

Risk Monitoring and Control is the process of implementing the risk response plan, tracking and monitoring identified risks, and identifying and responding to new risks as they occur.

53
Q

Be able to name the purpose of the Quality Control process .

A

The purpose of the Quality Control process is to monitor work results to determine whether they comply with the
standards set in the quality management plan.

54
Q

Name the three common causes of variance.

A

These are random variances, known or predictable variances, and variances that are always present in the process.

55
Q

Name the tools and techniques for Quality Control.

A

These are histograms, Pareto diagrams, control charts, statistical sampling, flowcharting, run charts, and Ishikawa diagrams.

56
Q

Be able to describe earned value measurement (EVM)techniques.

A

Earned value measurement (EVM) monitors the planned value (PV), earned value (EV), and actual costs (AC)
expended to produce the work of the project.

Cost variance (CV), schedule variance (SV),
 cost performance index (CPI), and schedule performance index (SPI) _are the formulas used with the EVM technique_.
57
Q

Define estimate to complete (ETC), estimate at completion (EAC), and budget at completion (BAC) .

A

Estimate to complete (ETC) is a forecast of the cost of all remaining project work and is usually provided by the project team members.

Estimate at completion (EAC) is a projection of final project costs obtained by adding the ETC to the actual project costs to date.

Budget at completion (BAC) is the total amount of the budget for the work package, control account, schedule activity, or project.

58
Q

Define the purpose for the Managing Stakeholder Expectations process.

A

Managing Stakeholder Expectations involves communicating, resolving issues, improving project
performance by implementing change requests, and managing concerns.

59
Q

Explain the purpose for the Distribute Information process .

A

Distribute Information is concerned with getting stakeholders information about the project in a timely manner. This is accomplished using status reports, project meetings, review meetings, and so on,
depending on their communication preferences.

60
Q

Name the types of barriers a project manager might face when managing teams.

A

Time zones, language and communication barriers, cultural differences, hierarchical barriers,
and technology barriers are all types of barriers.

61
Q

Name the four reasons for project endings.

A

They are addition, starvation, integration, and extinction.

62
Q

Understand the steps involved in closing a project or phase.

A

The steps include

  • obtaining sign - off and acceptance
  • transferring the product to the organization
  • releasing project resources
  • closing out contracts
  • performing Administrative Closure
  • documenting historical information
  • conducting post - mortem analysis
  • conducting post-project reviews.
63
Q

Explain the purpose of obtaining formal customer or stakeholder sign - off.

A

The formal sign - off documents that the customer accepts the project work and that the project meets the defined requirements. It also signals the official closure of the project and the transfer of the final product of the project to the organization.

64
Q

Describe transferring the project results to the organization.

A

Transferring the project results occurs once sign - off has been obtained. There should be a documented transition
plan for transferring the project results, including describing the type of training or skills needed to maintain the product. License costs, warranty coverage and time period, user documentation, and any other materials needed by the organization should be included in the transfer.

65
Q

Understand the key elements of the Close Procurements process.

A

Contract closeout verifies that all the work described in the contract was completed satisfactorily per the contract terms and conditions. It includes notifying the vendor in writing that the work of the contract was accepted.

66
Q

Name the procedures involved in Administrative Closure.

A

Administrative Closure involves:

  • gathering and centralizing project documents
  • performing a post - project review
  • writing the final project close report
  • archiving project documents
  • documenting lessons learned and historical information.
67
Q

Describe lessons learned.

A

Lessons learned describe the successes and failures of the project.