PEI PMA Grade 3 flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Project

A temporary endeavor undertaken to create a unique product, service, or result, with a defined start and end and limited resources.

Project charter

A document that formally authorizes a project, identifies the sponsor, states objectives and high-level scope, and gives the project manager authority to apply resources.

Program

A group of related projects and activities managed together to obtain benefits that would not be available if each project were managed separately.

Portfolio

A collection of projects, programs, and operations selected and managed to achieve strategic business objectives and balance risk, cost, and return.

Business case

A justification for a project that compares expected benefits with costs, risks, and strategic alignment and is used to decide whether to invest.

Project governance

The framework of decision rights, accountability, oversight, and escalation paths that determines how project decisions are authorized, monitored, and controlled.

Conflict of interest

A situation in which a personal, financial, or other interest could improperly influence professional judgment, requiring disclosure and removal from the affected decision.

Confidentiality

The ethical and contractual duty to protect non-public project information from unauthorized access or use, except where disclosure is legally required or authorized.

Whistleblowing

Reporting illegal, unethical, or dangerous conduct to an internal authority or, when required, an external regulator, with protection from retaliation where laws apply.

Procurement integrity

The principle that purchasing and contracting decisions must be fair, transparent, and free from collusion, undisclosed conflicts, and improper gifts or influence.

Work breakdown structure

A hierarchical decomposition of the total scope into deliverables and work packages; the lowest level supports estimating, scheduling, and control.

Critical path

The longest path through a project network, which determines the shortest possible project duration and has the least total float, often zero.

Total float

The amount of time an activity can be delayed without delaying the project finish date; calculated as late start minus early start or late finish minus early finish.

PERT expected duration

A weighted average duration estimate calculated as optimistic plus four times most likely plus pessimistic, divided by six, used when activity duration is uncertain.

Cost performance index

CPI equals earned value divided by actual cost; a value below one point zero means the project is spending more than the work completed is worth.

Estimate at completion

The forecast total cost of the project; when current cost efficiency continues, EAC equals budget at completion divided by the cost performance index.

Risk register

A living document listing each risk with its cause, trigger, probability, impact, score, owner, planned response, and current status.

Expected monetary value

EMV equals probability multiplied by monetary impact; decision trees add EMVs across branches to compare expected outcomes of alternatives.

Avoid risk response

A negative risk response that eliminates the threat by changing the project plan, scope, or approach so the risk no longer exists or cannot occur.

Cost of quality

The total cost of prevention, appraisal, internal failure, and external failure; external failures are usually the most expensive because they occur after delivery.

Pareto analysis

A quality tool that ranks causes by frequency or impact to separate the vital few from the trivial many, often using the 80/20 principle.

Fixed-price contract

A contract with a set price for defined scope; the seller bears most cost risk, so the scope must be well defined before award.

Stakeholder

Any person, group, or organization that can affect, be affected by, or perceive itself to be affected by a project decision, activity, or outcome.

Power-interest grid

A stakeholder mapping tool that classifies stakeholders by authority and concern, guiding whether to manage closely, keep satisfied, keep informed, or monitor.

Communication channels

The number of two-way communication paths among n stakeholders, calculated as n times n minus one, divided by two.

RACI matrix

A responsibility assignment tool: Responsible performs work, Accountable owns the outcome, Consulted gives input, and Informed receives updates; each task has one Accountable.

Team forming stages

Tuckman's sequence of forming, storming, norming, performing, and adjourning; storming involves conflict about roles and is a normal development stage.

Hierarchy of controls

Risk control order: elimination, substitution, engineering controls, administrative controls, then personal protective equipment; PPE is the least effective and last resort.

ALARP

As low as reasonably practicable; risk is reduced until further reduction would cost grossly disproportionate effort compared with the benefit gained.

Near miss

An unplanned event that did not cause injury or damage but had the potential to do so; reporting it provides a leading indicator of safety risk.

Triple bottom line

A sustainability framework evaluating performance across people, planet, and profit, balancing social, environmental, and economic outcomes rather than profit alone.

Waste hierarchy

A preferred order for waste management: prevent, reuse, recycle, recover energy, and dispose; prevention avoids waste creation and disposal is the last option.