Certified Project Manager (IAPM) Exam Study Flashcard

Activity duration estimating is the process of predicting the amount of time required to complete each project activity. It involves analyzing past data, expert judgment, and other estimating techniques to forecast task durations.

Earned Value Management (EVM) is a project management technique used to assess project performance by comparing the planned progress with the actual progress and the value of the work completed. It integrates scope, schedule, and cost measures.

Float, or slack, is the amount of time that a task can be delayed without affecting the project's overall schedule. It allows for flexibility in scheduling and helps manage project timelines.

Project closure is the final phase in the project management lifecycle, where all project activities are completed, deliverables are handed over, and project performance is reviewed. It involves formal acceptance, documentation, and closing contracts.

Project constraints are limitations that impact project execution and success, such as scope, time, cost, quality, resources, and risk. They must be managed to achieve project objectives and maintain project performance.

A project deliverable is a specific, measurable output produced as a result of project activities. Deliverables can be tangible products, services, or reports that are required to achieve project objectives.

Project execution is the phase where the project plan is put into action, and project deliverables are produced. It involves coordinating people and resources, managing stakeholder expectations, and performing the activities of the project management plan.

The project lifecycle refers to the series of phases a project goes through from initiation to completion. It typically includes phases such as initiation, planning, execution, monitoring and controlling, and closing.

A Project Management Office (PMO) is a centralized department within an organization that standardizes project management practices, provides guidance, and supports project managers to improve project outcomes and alignment with organizational goals.

Project procurement involves the process of obtaining goods and services from external sources to fulfill project requirements. It includes activities such as procurement planning, solicitation, and contract management.

A project risk is an uncertain event or condition that, if it occurs, could have a positive or negative impact on project objectives. Risk management involves identifying, analyzing, and responding to these risks.

Project scope management involves defining and controlling what is included and excluded in the project. It ensures that all necessary work is completed while avoiding unnecessary work.

Project scope is the total work required to complete a project and achieve its objectives. It includes all deliverables, tasks, and activities necessary to fulfill project requirements and satisfy stakeholders.

Risk management is the process of identifying, analyzing, and responding to project risks to minimize their impact on the project’s objectives. It includes risk identification, risk assessment, risk response planning, and risk monitoring.

A stakeholder is any individual or organization that is actively involved in a project or whose interests may be positively or negatively affected by the project's execution or outcome.

The critical path is the longest path through the project with the least amount of slack or float, determining the shortest time to complete the project. Delays in any task on the critical path will directly impact the project's completion date.

Change control is the process of managing changes to the project scope, schedule, or cost. It involves identifying, documenting, assessing, and approving or rejecting changes to ensure that any modifications are systematically controlled.

Earned value (EV) is a measure of the work performed expressed in terms of the approved budget. It is used to assess project performance by comparing the value of work completed against the planned value and actual costs.

Float or slack is the amount of time that a task can be delayed without affecting the overall project schedule. It provides flexibility in scheduling and helps in managing project timelines effectively.

Project change control is the process of managing changes to the project scope, schedule, or cost. It involves evaluating, approving, and implementing changes while maintaining control over project objectives and constraints.

Project communication management involves planning, implementing, monitoring, and controlling the exchange of information among project stakeholders. It ensures that project information is timely, accurate, and effectively disseminated.

Project cost management involves planning, estimating, budgeting, and controlling costs to ensure that the project is completed within the approved budget. It includes processes for monitoring and managing financial performance.

Project deliverables are specific outputs or results that must be produced to complete a project. They can be tangible (e.g., a product) or intangible (e.g., a report) and are used to measure project success.

Project performance measurement involves evaluating the project's progress and performance using metrics such as cost, schedule, and quality. It helps in assessing whether the project is on track and making necessary adjustments.

Project quality management ensures that the project’s deliverables meet the required standards and stakeholder expectations. It involves quality planning, quality assurance, and quality control processes.

Project scope creep is the gradual expansion of project scope beyond the initial plan due to uncontrolled changes or additional requirements. It can lead to increased costs, delays, and project risks.

Resource leveling is a technique used to adjust the project schedule to ensure that resource usage is balanced and does not exceed resource availability, often by delaying tasks or adjusting task durations.

Scope creep refers to the uncontrolled expansion of project scope without corresponding adjustments to time, cost, and resources, often leading to project delays and cost overruns.

Project constraints are limitations or restrictions that impact a project’s execution and success. Common constraints include scope, schedule, cost, quality, resources, and risk, and they must be managed to achieve project goals.

Project constraints are the limitations or restrictions that affect the project’s ability to achieve its objectives. Common constraints include scope, time, cost, quality, resources, and risk.

The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Budget variance is the difference between the budgeted amount and the actual amount spent. It helps in assessing whether a project is on track financially and in identifying areas where corrective actions may be needed.

The critical chain method is a project management technique that focuses on managing the project schedule by considering resource constraints and dependencies. It aims to minimize project duration by identifying and managing the critical chain.

Procurement management involves acquiring goods and services from external sources to meet project requirements. It includes planning, conducting procurements, controlling procurement relationships, and closing procurements.

Progress reporting involves regularly updating stakeholders on the status of project activities, achievements, and any issues. It provides insights into project performance and helps in making informed decisions.

A project scope statement is a detailed description of the project scope, including the deliverables, objectives, and boundaries. It provides a clear understanding of what is included in the project and what is excluded.

Quality assurance is a systematic process of ensuring that the project’s deliverables meet the required quality standards and that the project processes are being followed correctly. It focuses on preventing defects and ensuring quality throughout the project lifecycle.

Resource allocation is the process of assigning and managing resources (e.g., human, financial, and material) to project activities to ensure that they are used efficiently and effectively.

Resource leveling is a scheduling technique used to balance the demand for resources with the available supply. It helps to avoid resource overallocation and ensures that resources are used effectively throughout the project.

Resource management is the process of planning, acquiring, and allocating resources (such as human, financial, and material resources) needed to complete project activities effectively and efficiently.

Scope management involves defining and controlling what is included and excluded in the project. It ensures that all required work is completed while avoiding work that is not necessary for achieving project goals.

Stakeholder engagement is the process of interacting with stakeholders to understand their needs, expectations, and concerns. It involves managing their involvement throughout the project lifecycle to ensure their support and address any issues.

Team development is the process of improving the effectiveness, cohesion, and performance of the project team. It involves activities such as team-building exercises, training, and feedback to enhance teamwork and collaboration.

A change request is a formal proposal to modify any aspect of the project, such as scope, schedule, or cost. It is typically submitted when there is a need to address changes or improvements in the project.

A project baseline cost is the approved version of the project budget that serves as a reference for measuring financial performance. It includes the planned cost for all project activities and deliverables.

A project baseline schedule is the approved version of the project schedule that serves as a reference for measuring performance. It includes planned start and finish dates for project activities and milestones.

A project management plan is a formal, approved document that defines how the project will be executed, monitored, controlled, and closed. It includes plans for scope, schedule, cost, quality, resources, communication, risk, and procurement management.

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

A project stakeholder is any individual or organization that has an interest in or is affected by the project. Stakeholders include project sponsors, team members, customers, suppliers, and other affected parties.

Risk assessment is the process of identifying, analyzing, and evaluating risks to determine their potential impact and likelihood. It helps in prioritizing risks and developing appropriate response strategies.

A risk response plan outlines the actions to be taken to address identified risks. It includes strategies for mitigating, transferring, avoiding, or accepting risks to minimize their impact on the project.

Stakeholder analysis is the process of identifying and assessing the influence and interests of individuals or groups who can affect or be affected by the project. It helps in developing strategies for engaging stakeholders effectively.

A Gantt chart is a visual representation of a project schedule that displays the start and finish dates of the various elements of a project. It helps in tracking progress and scheduling tasks.

A project baseline is a fixed reference point used for comparison throughout the project’s life cycle. It includes the approved scope, schedule, and cost plan and is used to measure project performance and progress.

A Work Breakdown Structure (WBS) is a hierarchical decomposition of the total scope of work to accomplish the project objectives and create the deliverables. It breaks down the project into manageable sections.

A milestone is a significant point or event in a project that marks the completion of a major phase or deliverable. A deliverable is a tangible or intangible output produced as a result of a project or its activities.

A project is a temporary endeavor undertaken to create a unique product, service, or result. A program is a collection of related projects managed in a coordinated manner to obtain benefits and control not available from managing them individually.

The primary goal of project management is to achieve specific project objectives within defined constraints, such as scope, time, cost, and quality, while satisfying stakeholder requirements and expectations.

The project charter formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. It outlines the project objectives, scope, stakeholders, and high-level requirements.

A risk register is a document that records identified risks, their analysis, and the planned responses. It is used to track risk management activities and facilitate communication among stakeholders about risk-related issues.