Certified Associate in Project Management (CAPM) Study Flashcard

The Change Control Board (CCB) is a group of stakeholders responsible for reviewing, approving, or rejecting change requests. It ensures that changes are evaluated and managed systematically to avoid negative impacts.

The communications management plan outlines how project information will be communicated to stakeholders. It includes communication methods, frequencies, and responsibilities for disseminating information.

The critical path is the longest sequence of dependent tasks that determines the shortest time in which a project can be completed. Delays on the critical path will result in delays to the project’s overall completion.

Procurement management involves the processes of acquiring goods and services from external sources. It includes planning, conducting, and managing procurements to ensure that project requirements are met efficiently.

The project scope statement is a detailed description of the project’s scope, including objectives, deliverables, boundaries, and acceptance criteria. It serves as a baseline for scope planning and control.

Quality assurance involves the systematic process of ensuring that the project’s processes and deliverables meet predefined quality standards and requirements. It focuses on improving and maintaining quality throughout the project.

Scope creep refers to the uncontrolled changes or continuous growth in a project’s scope without adjustments to time, cost, and resources. It can lead to project delays, increased costs, and project failure.

The scope management plan is a component of the project management plan that describes how the project scope will be defined, validated, and controlled. It outlines processes for managing scope changes and scope verification.

Scope verification is the process of formalizing acceptance of the completed project deliverables by the stakeholders. It ensures that the deliverables meet the project requirements and are approved for completion.

Work performance data refers to raw observations and measurements from project activities. It includes information on project progress and performance, which is used to assess project status and inform decision-making.

Cost-benefit analysis is a financial assessment used to determine whether the benefits of a project outweigh its costs. It involves comparing the expected costs and benefits to decide if the project is worthwhile.

Project procurement management involves the processes of acquiring goods and services from external sources. It includes planning, conducting procurements, controlling contracts, and closing procurements.

Resource management involves planning, estimating, and managing resources (people, equipment, materials) needed for project activities. It ensures that resources are allocated efficiently and effectively to achieve project goals.

The project management plan is a formal, approved document that defines how the project is executed, monitored, and controlled. It consolidates all planning documents and serves as a roadmap for project execution.

Project integration management involves coordinating all aspects of the project to ensure that its components are effectively aligned and managed. It includes developing project plans, managing changes, and ensuring overall coherence.

Resource leveling adjusts the project schedule to address resource over-allocation or conflicts, potentially extending project duration. Resource smoothing adjusts activities to fit within an existing schedule while maintaining resource constraints.

Risk response planning involves developing strategies and actions to address identified risks. It includes defining how to reduce the probability or impact of risks and how to handle them if they occur.

Project scope management involves defining and controlling what is included and excluded in the project. It ensures that all necessary work is completed to deliver the project’s objectives and avoids scope creep.

Stakeholder engagement involves actively working with stakeholders to understand their needs and expectations, address issues, and foster supportive relationships throughout the project lifecycle.

Work performance reports are documentation that provides a comprehensive overview of project performance. They include information on progress, status, and performance metrics to facilitate decision-making and reporting.

A project is temporary and aims to create a unique output. An operation is ongoing and repetitive, aiming to sustain the business and provide continuous value. Operations do not have a defined end date like projects.

Enterprise environmental factors are conditions or influences that exist outside the project but impact its success. They include organizational culture, industry standards, government regulations, and market conditions.

Project assumptions are factors considered to be true for planning purposes, which may impact project outcomes. Assumptions are identified and documented to manage risks associated with their validity.

Project constraints are limitations or restrictions that impact project execution. They include constraints related to scope, time, cost, quality, resources, and risk. Constraints must be managed to achieve project objectives.

The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing. They encompass the project lifecycle from start to finish and are used to guide project management practices.

Key inputs include the business case, agreements, enterprise environmental factors, and organizational process assets. These inputs help in authorizing and formally initiating the project.

The project charter typically includes the project purpose, objectives, high-level requirements, key stakeholders, high-level risks, and the project sponsor’s authority and approval.

The main types of project life cycles are Predictive (Waterfall), Iterative, Incremental, and Agile. Each life cycle model offers a different approach to project management and delivery.

The Triple Constraint consists of Scope, Time, and Cost. These constraints are interconnected; changes in one can affect the others. Managing these constraints is crucial for project success.

Progressive elaboration is the process of continuously improving and detailing a project plan as more information becomes available. It allows for refining project scope, schedule, and cost as the project progresses.

Quality control involves monitoring and measuring project deliverables to ensure they meet the defined quality standards. It includes inspecting outputs, conducting tests, and implementing corrective actions as needed.

Stakeholder analysis involves identifying stakeholders, understanding their needs and interests, assessing their impact on the project, and developing strategies for effective communication and engagement.

PMBOK stands for Project Management Body of Knowledge. It is a standard framework for project management practices developed by the Project Management Institute (PMI).

A baseline is the approved version of a project plan that includes scope, schedule, and cost. It serves as a reference point for measuring and comparing actual performance against planned performance.

Cost management involves estimating, budgeting, and controlling costs to ensure that the project is completed within the approved budget. It includes monitoring and managing project expenses and financial performance.

EVM is a project management technique used to assess project performance and progress. It integrates scope, schedule, and cost data to provide a comprehensive view of project performance, helping to predict future performance.

Process improvement involves identifying, analyzing, and enhancing existing processes to increase efficiency and effectiveness. It aims to optimize workflows and reduce waste in project management practices.

Project closure is the final phase of the project management process, where all project activities are completed, deliverables are handed over, and the project is formally closed. It includes finalizing all project documentation.

Resource allocation involves assigning and scheduling resources to project activities. It ensures that the necessary resources are available and utilized efficiently to meet project objectives.

The Resource Breakdown Structure (RBS) is a hierarchical representation of resources required for a project. It organizes resources by category and type, aiding in resource planning, allocation, and management.

Resource leveling is a technique used to resolve resource over-allocation or conflicts by adjusting the project schedule. It aims to ensure that resources are utilized efficiently and sustainably throughout the project.

Scope management involves defining and controlling what is included and excluded in the project. It ensures that the project delivers what was agreed upon and avoids scope creep or unplanned work.

Scope validation is the process of obtaining formal acceptance of the completed project deliverables from stakeholders. It ensures that the deliverables meet the project requirements and standards.

Stakeholder management involves identifying stakeholders, understanding their needs and expectations, and developing strategies to engage and communicate with them effectively throughout the project lifecycle.

A change request is a formal proposal to modify any document, deliverable, or baseline in the project. It can arise from any stakeholder and must be assessed, approved, and implemented through a change control process.

A deliverable is a specific, measurable outcome or output that is produced as a result of project work. Deliverables can be tangible or intangible and are crucial to meeting project objectives.

A lessons learned document captures knowledge gained from the project, both positive and negative, to improve future project performance and decision-making. It helps in documenting experiences and best practices.

A lessons learned report documents what was learned during the project regarding both successes and failures. It should be used to inform future projects, improve processes, and avoid repeating mistakes.

A milestone is a significant point or event in a project that marks the completion of a major phase or deliverable. Milestones are used to track progress and assess project performance.

A project schedule is a timeline that outlines when project tasks and milestones will be completed. It includes start and finish dates, dependencies, and resource allocations, serving as a guide for project execution.

A Gantt Chart is a visual timeline of project tasks, showing start and finish dates, task durations, dependencies, and progress. It helps in scheduling, tracking, and managing project tasks.

A risk register is a document used to record and track identified risks throughout the project lifecycle. It typically includes risk descriptions, risk owners, risk responses, and risk status.

A stakeholder is any individual or organization that can affect, be affected by, or perceive itself to be affected by a project. This includes project team members, sponsors, customers, and external entities.

A project is a temporary endeavor undertaken to create a unique product, service, or result. It has a defined start and end, specific objectives, and constraints such as scope, quality, and budget.

Risk avoidance involves changing the project plan to eliminate the risk or its impact. Risk mitigation involves implementing measures to reduce the probability or impact of the risk. Both strategies are part of risk management.

Qualitative risk analysis assesses risks based on their likelihood and impact using descriptive techniques, while quantitative risk analysis uses numerical methods to estimate the impact of risks on project objectives.

The purpose of performing integrated change control is to manage changes to the project’s scope, schedule, and cost baselines. It ensures that changes are evaluated, approved, and implemented systematically.

Performance reporting involves documenting and communicating project performance and progress to stakeholders. It includes status updates, performance metrics, and analysis to keep stakeholders informed and engaged.

The WBS is a hierarchical decomposition of the total scope of work to accomplish the project objectives and create the deliverables. It helps in organizing and defining the total scope of the project.

The project sponsor is a key stakeholder who provides financial resources, support, and guidance for the project. They are responsible for approving project deliverables and ensuring alignment with organizational goals.