Certified Project Management Practitioner (CPMP) Exam Study Flashcard

Communication Management involves ensuring timely and effective exchange of information among project stakeholders. Key processes include planning communications, managing communications, and monitoring communications.

Earned Value is a measure of project performance, calculated by comparing the value of work performed to the planned value. Key components include Planned Value (PV), Earned Value (EV), and Actual Cost (AC).

Project Closure is the final phase of the project life cycle, involving formal acceptance of deliverables, finalizing all project documentation, and releasing resources. Key activities include final report preparation, stakeholder approval, and project review.

Project Procurement involves acquiring goods and services from external suppliers. Key stages include procurement planning, solicitation, source selection, contract administration, and contract closure.

Project Risk Analysis involves assessing the potential risks to the project. Components include risk identification, risk assessment (qualitative and quantitative), and risk prioritization to develop mitigation strategies.

A Project Schedule is a timeline of project activities, including start and end dates, durations, and dependencies. Components include task lists, milestones, and deadlines.

Project Stakeholder Management involves identifying, engaging, and communicating with stakeholders to ensure their needs and expectations are met. Effective management helps in gaining support and minimizing conflicts.

Scope Management involves defining and controlling what is included and excluded in the project. Key components include scope planning, scope definition, Work Breakdown Structure (WBS), scope verification, and scope control.

Stakeholder Analysis involves identifying stakeholders, assessing their interests and influence, and determining how to engage and communicate with them. It helps in managing expectations and gaining support.

A Stakeholder is any individual or group affected by or able to affect the project's outcome. Engaging stakeholders is crucial for understanding their needs, gaining support, and ensuring project success.

The Project Scope Statement is a detailed description of the project scope, including objectives, deliverables, boundaries, assumptions, and constraints. It provides a clear understanding of what is included in the project.

Scope Creep refers to uncontrolled changes or continuous growth in a project's scope without adjustments to time, cost, and resources. It can lead to delays, budget overruns, and project failure.

Agile Project Management emphasizes iterative development, flexibility, and customer collaboration. Unlike traditional methods (like Waterfall), Agile allows for adaptive planning and continuous feedback throughout the project lifecycle.

Stakeholder Engagement involves actively involving stakeholders in project decisions and processes. It is important for understanding their needs, securing their support, and ensuring successful project outcomes.

The Five Process Groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing. These groups encompass all the processes required to manage a project from start to finish.

The Project Life Cycle is a series of phases that a project goes through from initiation to closure. Phases typically include initiation, planning, execution, monitoring and controlling, and closing.

The RACI Matrix is a responsibility assignment chart that clarifies roles and responsibilities for project tasks. RACI stands for Responsible, Accountable, Consulted, and Informed. It helps ensure clarity and accountability.

Baseline Cost is the approved budget for the project. It serves as a reference point for measuring cost performance and managing budget deviations throughout the project.

Integrated Change Control is a process that ensures changes to the project scope, schedule, or cost are controlled and managed systematically. It involves evaluating change requests, assessing impacts, and obtaining approvals.

Project Portfolio Management involves selecting, prioritizing, and managing multiple projects to align with organizational strategy and optimize resource utilization. PPM ensures that projects contribute to strategic goals and deliver value.

Resource Leveling is a technique used to resolve resource over-allocation by adjusting the project schedule. The purpose is to ensure that resources are used efficiently and that workload is balanced.

A Work Package is a lowest level element in the WBS that defines a specific deliverable or task. It is manageable, assignable, and can be tracked for progress and performance.

Risk Management involves identifying, assessing, and planning for potential risks before they occur. Issue Management deals with addressing and resolving problems that have already occurred during the project.

CPI is a measure of cost efficiency in a project, calculated as CPI = Earned Value (EV) / Actual Cost (AC). It indicates how well the project is performing in terms of cost relative to the work completed.

Earned Value is a measure of project performance that compares the value of work performed to the planned value. It is calculated as EV = % of completion x Budget at Completion (BAC).

Procurement Management involves acquiring goods and services from external suppliers. Key processes include planning procurement, conducting procurement, controlling procurement, and closing procurement.

EVM is a project management technique that integrates scope, schedule, and cost to assess project performance and progress. It helps in measuring how much work has been completed versus the planned work.

The Project Manager is responsible for planning, executing, and closing the project. They manage resources, communicate with stakeholders, control project performance, and ensure the project meets its objectives.

Change Control is a process for managing changes to the project scope, schedule, or cost. It ensures that changes are documented, evaluated, and approved before implementation to avoid uncontrolled alterations.

CPM is a project management technique used to determine the longest sequence of dependent tasks and thus the minimum project duration. It helps in identifying tasks that directly impact the project completion date.

A Milestone Schedule highlights key milestones and their planned dates throughout the project. It provides a high-level view of major deliverables and deadlines, helping track progress and manage expectations.

A Resource Histogram is a graphical representation of resource usage over time. It helps in visualizing resource allocation, identifying over- or under-utilization, and planning resource needs.

Deliverables are specific, tangible outcomes or results produced as part of a project. They can be products, services, or reports that fulfill project requirements and objectives.

Milestones are significant points or events in a project that mark the completion of key deliverables or phases. They are used to track progress and provide key performance indicators.

A Baseline is the approved version of the project plan, including scope, schedule, and cost. It serves as a reference point for measuring project performance and making comparisons against planned progress.

A Change Request is a formal proposal to alter the project scope, schedule, or cost. It is handled through a change control process that includes evaluating the request, assessing its impact, and obtaining approval before implementation.

Cost-Benefit Analysis is a financial assessment that compares the costs of a project to the benefits it will deliver. It helps in determining the project's viability and making informed decisions about proceeding.

Float (or Slack) is the amount of time that a task can be delayed without affecting the project's overall schedule. It helps in managing schedule flexibility and resource allocation.

Schedule Variance (SV) is a measure of schedule performance, calculated as SV = Earned Value (EV) - Planned Value (PV). It indicates whether the project is ahead or behind schedule.

Project Scope Creep refers to uncontrolled changes or expansion of project scope. It can be managed through effective scope management, change control processes, and clear documentation of project requirements.

Project Scope Management involves defining and controlling what is included and excluded in the project. Processes include scope planning, scope definition, creating the Work Breakdown Structure (WBS), scope verification, and scope control.

Resource Allocation involves assigning available resources to project activities. Proper allocation ensures that resources are used efficiently and that project tasks are completed on time.

Schedule Compression involves shortening the project schedule without changing the project scope. Techniques include Fast Tracking (performing tasks in parallel) and Crashing (adding resources to critical tasks).

Scope Validation is the process of formalizing acceptance of completed project deliverables. It is performed through reviews, inspections, and customer acceptance to ensure the work meets agreed-upon requirements.

A Project Baseline Schedule is the approved version of the project schedule. It is important for measuring progress, comparing actual performance against planned performance, and managing schedule changes.

A PMO is a department or group responsible for overseeing and supporting project management activities within an organization. Functions include setting standards, providing training, and ensuring alignment with organizational goals.

The Project Sponsor provides leadership, ensures alignment with organizational goals, secures funding and resources, and resolves high-level issues. Their support and engagement are crucial for project success.

A Risk Mitigation Strategy is a plan to reduce the likelihood or impact of identified risks. It involves actions or measures to minimize potential negative effects on the project.

A Risk Register is a document used to record and manage project risks. It includes information such as risk descriptions, likelihood, impact, mitigation strategies, and responsible parties.

A Gantt Chart is a visual representation of a project schedule, showing tasks, durations, and dependencies over time. It helps track progress, manage resources, and plan task sequences.

A WBS is a hierarchical decomposition of the total scope of work into manageable parts. It helps in organizing the team's work, defining deliverables, and ensuring all aspects of the project are covered.

The Triple Constraint refers to the three primary constraints of a project: scope, time, and cost. Balancing these constraints is essential for project success and meeting objectives.

Quality Assurance focuses on improving processes and ensuring that quality standards are met throughout the project lifecycle. Quality Control involves inspecting and testing deliverables to ensure they meet the defined quality standards.

Fixed-Price contracts provide a set price for deliverables regardless of actual costs, while Cost-Reimbursable contracts allow for reimbursement of actual costs plus a fee. Fixed-Price contracts shift risk to the seller, while Cost-Reimbursable contracts shift risk to the buyer.

The Project Charter formally authorizes the project, defining the project's objectives, scope, stakeholders, and high-level requirements. It provides a clear direction and authority for the project.

Cost Estimation involves predicting the financial resources required for project activities. Accurate cost estimates help in budgeting, planning, and controlling project expenses.

Lessons Learned are insights gained from the project that can be used to improve future projects. They involve documenting successes, failures, and best practices for continuous improvement.

The Project Management Plan is a comprehensive document that outlines how the project will be executed, monitored, and controlled. It includes details on scope, schedule, cost, quality, resources, and risk management.

The Project Risk Management Plan outlines how risks will be identified, assessed, and managed. It includes strategies for risk mitigation, monitoring, and response to ensure project objectives are met.

The Project Sponsor provides the project with resources, ensures alignment with organizational goals, and resolves high-level issues. They champion the project and support its objectives.