PMN flashcards
PMN · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Project vs. operations
- A project is a temporary, unique endeavor producing a specific result; operations are ongoing and repetitive. The temporary and unique criteria distinguish projects from routine operational work.
- Triple constraint
- Scope, time, and cost are interdependent; adjusting one forces compensating changes in at least one other, with quality as the resulting outcome. This shapes all trade-off decisions.
- Projectized organization
- An organizational structure in which the project manager has full authority over the project and team members report directly to the PM, often co-located, maximizing PM control.
- Directive PMO
- A project management office type that exercises high control: project managers report to the PMO and the PMO manages projects directly, unlike supportive or controlling PMOs.
- Program vs. portfolio
- A program groups related projects managed together for shared benefits; a portfolio is a collection of projects and programs selected to achieve strategic organizational objectives.
- Project charter
- The document that formally authorizes the project and the project manager, issued by the sponsor, containing purpose, measurable objectives, high-level scope, risks, milestones, budget, and authority.
- Business case
- The document justifying the project investment through cost-benefit analysis, ROI, payback, and strategic alignment. It precedes the charter and is owned by the sponsor.
- Assumption log
- A project document recording unverified beliefs treated as true for planning purposes. If an assumption proves false, it is typically transferred to the issue log.
- Stakeholder register
- A document identifying stakeholders with their roles, requirements, expectations, influence, and interest, used to plan engagement and communication approaches for each group.
- Power/interest grid
- A stakeholder classification tool: high power and high interest are managed closely; high power and low interest are kept satisfied; low power and high interest are kept informed; low/low are monitored.
- Engagement assessment matrix
- A tool recording each stakeholder's current and desired engagement level across unaware, resistant, neutral, supportive, and leading, highlighting gaps that the engagement plan must close.
- Work package
- The lowest level of the work breakdown structure, where cost and duration can be reliably estimated and managed; the 8/80 heuristic is a common sizing guide.
- Scope creep
- Uncontrolled expansion of project scope without approved change control, which erodes schedule and budget; gold plating is a related failure of adding unrequested features.
- Critical path
- The longest path through the project network, determining the shortest possible project duration. Its total float is zero, so any delay on it delays the whole project.
- Total float formula
- Total float equals late start minus early start, or late finish minus early finish. It is the schedule flexibility an activity has without delaying the project finish date.
- PERT expected duration
- Expected duration equals (Optimistic + 4 × Most Likely + Pessimistic) divided by 6; standard deviation equals (Pessimistic − Optimistic) divided by 6, quantifying estimate uncertainty.
- Cost performance index
- CPI equals earned value divided by actual cost. A value above 1.0 means the project is under budget; below 1.0 means it is over budget for work performed.
- Estimate at completion
- EAC forecasts total project cost. Using BAC divided by CPI assumes current cost performance continues; ETC equals EAC minus actual cost; VAC equals BAC minus EAC.
- Cost of quality
- The total cost of conformance (prevention and appraisal) plus nonconformance (internal and external failure). Rework is classified as an internal failure cost.
- Risk response strategies
- For threats: avoid, transfer, mitigate, escalate, accept. For opportunities: exploit, share, enhance, escalate, accept. Each risk in the register gets an owner and response.
- Risk score
- A risk register value calculated as probability multiplied by impact, used to rank risks during qualitative analysis and prioritize which risks receive detailed response planning.
- Fixed-price contract
- A contract type in which the seller bears the cost risk because the price is set; variants include firm-fixed-price, fixed-price with economic price adjustment, and fixed-price incentive fee.
- Cost-reimbursable contract
- A contract type in which the buyer bears cost risk because the seller is reimbursed allowable costs; variants include cost plus fixed fee, incentive fee, and award fee.
- RFP vs. RFQ
- A request for proposal asks sellers to propose a solution or approach for complex needs; a request for quotation asks for price on a well-defined item with clear specifications.
- Integrated change control
- The process of reviewing every change request in writing, analyzing impacts across scope, schedule, cost, quality, and risk, obtaining approval, then updating baselines and logs.
- Configuration management
- A control process ensuring the correct versions of documents and deliverables are identified, tracked, and approved, preventing unauthorized or outdated versions from being used.
- Corrective vs. preventive action
- Corrective action realigns future performance after a deviation occurs; preventive action reduces the probability of a future deviation. Defect repair fixes nonconforming product already produced.
- Conflict resolution modes
- Problem solving (confronting) seeks a win-win outcome and is preferred; forcing, avoiding, accommodating, and compromising are alternatives depending on context and stakes.
- Pareto and fishbone
- A Pareto chart ranks causes to highlight the vital few contributing most problems; a fishbone (cause-and-effect) diagram organizes possible root causes into categories for analysis.
- Lessons learned
- Knowledge captured throughout the project about what worked and what did not, archived as organizational process assets to improve future project performance.
- Benefits realization
- The process of tracking whether expected benefits defined in the business case are actually achieved after project closure, often managed at program or portfolio level.
- Post-implementation review
- A review conducted at defined intervals after go-live comparing realized benefits and outcomes against the business case, identifying gaps and follow-up actions for the organization.