CPIT APM 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. It has a defined beginning and end, and is not ongoing operations.

Triple Constraint

The interdependent constraints of scope, time, and cost, with quality at the center. Changing one constraint typically affects the others, requiring trade-offs.

PMO

Project Management Office. A centralized organizational unit that oversees project management. Types: supportive (consultative), controlling (compliance), directive (manages projects directly).

Program

A group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually.

Portfolio

A collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. Portfolio management aligns with organizational strategy.

Project Life Cycle

The series of phases that a project passes through from its start to its closure. It provides the basic framework for managing the project, regardless of specific work involved.

Project Charter

A document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with authority to apply organizational resources to project activities.

Stakeholder Register

A project document containing details about identified stakeholders, including identification information, assessment information, and stakeholder classification.

WBS

Work Breakdown Structure. A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish project objectives and create required deliverables.

Critical Path

The sequence of activities that represents the longest path through a project network diagram, which determines the shortest possible project duration. Activities on it have zero float.

PERT Formula

Expected duration = (Optimistic + 4 × Most Likely + Pessimistic) / 6. Used for three-point estimating to account for uncertainty in activity duration estimates.

Risk Register

A project document in which project risk information is recorded. It includes details such as risk description, category, probability, impact, response, and owner.

Communications Management Plan

A component of the project management plan that describes how project communications will be planned, structured, implemented, and monitored for effectiveness.

Tuckman Ladder

A model of team development stages: forming, storming, norming, performing, and adjourning. Teams progress through these stages as they mature.

Conflict Resolution Techniques

Methods to resolve conflict: collaborate/problem-solve, compromise, force, smooth, and withdraw. Collaborate is generally preferred for win-win outcomes.

Fixed-Price Contract

A contract type where the seller agrees to provide goods or services at a fixed price. The seller bears the risk of cost overruns; buyer risk is lower.

Cost-Reimbursable Contract

A contract type where the buyer reimburses the seller for allowable costs plus a fee. The buyer bears the risk of cost overruns; seller risk is lower.

Manage Project Knowledge

The process of using existing knowledge and creating new knowledge to achieve project objectives and contribute to organizational learning.

Develop Team

The process of improving competencies, team member interaction, and overall team environment to enhance project performance.

Manage Communications

The process of ensuring timely and appropriate collection, creation, distribution, storage, retrieval, management, monitoring, and ultimate disposition of project information.

Earned Value Management

A methodology that combines scope, schedule, and cost measurements to assess project performance and progress. Key metrics include PV, EV, AC, CPI, and SPI.

CPI

Cost Performance Index = Earned Value (EV) / Actual Cost (AC). CPI > 1 means under budget; CPI < 1 means over budget.

SPI

Schedule Performance Index = Earned Value (EV) / Planned Value (PV). SPI > 1 means ahead of schedule; SPI < 1 means behind schedule.

EAC

Estimate at Completion. The expected total cost of completing all work. Common formula when variances are typical: EAC = BAC / CPI.

TCPI

To-Complete Performance Index = (BAC – EV) / (BAC – AC). Measures the cost performance required to meet the budget at completion.

Integrated Change Control

The process of reviewing all change requests; approving or rejecting changes; and managing changes to deliverables, project documents, and the project management plan.

Change Control Board

A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, and for recording and communicating such decisions.

Control Quality

The process of monitoring and recording results of executing quality management activities to assess performance and ensure outputs meet quality requirements.

Close Project or Phase

The process of finalizing all activities for the project, phase, or contract. It includes archiving project documents and releasing resources.

Lessons Learned

Knowledge gained during a project that shows how project events were addressed or should be addressed in the future, for the purpose of improving performance.

Administrative Closure

The process of verifying and documenting project results to formalize acceptance of the product, service, or result by the sponsor, customer, or other authorized stakeholder.

Benefits Realization

The process of ensuring that the project's intended benefits are achieved and sustained after project closure, often tracked by the performing organization.