PMP Exam Prep - PMBOK 7th Edition Principles, Agile & Hybrid Project Delivery Flashcards

Question 1

Cost Performance Index (CPI)

Accepted Answer

Formula: $CPI = \frac{EV}{AC}$

A measure of the cost efficiency of budgeted resources. A value greater than 1.0 indicates performance is under budget, while a value less than 1.0 indicates cost overrun.

Question 2

Schedule Performance Index (SPI)

Accepted Answer

Formula: $SPI = \frac{EV}{PV}$

A measure of schedule efficiency. A value greater than 1.0 indicates the project is ahead of schedule, while a value less than 1.0 indicates the project is behind schedule.

Question 3

Cost Variance (CV)

Accepted Answer

Formula: $CV = EV - AC$

The amount of budget deficit or surplus at a given point in time. A positive value indicates the project is under budget; a negative value indicates over budget.

Question 4

Schedule Variance (SV)

Accepted Answer

Formula: $SV = EV - PV$

The amount by which the project is ahead or behind the planned delivery date at a given point. A positive value is ahead of schedule; a negative value is behind schedule.

Question 5

Estimate at Completion (EAC) - Typical Variances

Accepted Answer

Formula: $EAC = \frac{BAC}{CPI}$

Used to predict the total cost at completion assuming current cost performance ($CPI$) will continue for the remainder of the project.

Question 6

PMBOK 7th Ed Principle: Focus on Value

Accepted Answer

Continually evaluate and align project outcomes with business objectives, benefits, and value realization rather than focusing solely on deliverables (outputs).

Question 7

PMBOK 7th Ed Principle: Stewardship

Accepted Answer

Be a diligent, respectful, and caring steward. Act with integrity, care, trustworthiness, and compliance while considering financial, social, and environmental impacts.

Question 8

PMBOK 7th Ed Principle: Tailoring

Accepted Answer

Design the project development approach based on context, governance, team, culture, and project characteristics rather than using a rigid, one-size-fits-all process.

Question 9

PMBOK 7th Ed Principle: Systems Thinking

Accepted Answer

Recognize, evaluate, and respond to dynamic interactions within and around the project system to optimize performance and prevent localized sub-optimization.

Question 10

PMBOK 7th Ed Principle: Adaptability and Resilience

Accepted Answer

Build the capability into the team and process to absorb impacts, respond to change, and recover quickly from setbacks or changing requirements.

Question 11

Servant Leadership Traits

Accepted Answer

A leadership style focused on serving the team by:
- Removing impediments/blockers
- Shielding the team from distractions
- Promoting self-organization and empowerment
- Facilitating collaboration rather than commanding.

Question 12

Agile Ceremony: Sprint Planning

Accepted Answer

A collaborative event at the start of an iteration where the team agrees on the Sprint Goal and selects Product Backlog Items into the Sprint Backlog.

Question 13

Agile Ceremony: Daily Standup (Daily Scrum)

Accepted Answer

A 15-minute time-boxed daily meeting for the development team to synchronize activities, review progress toward the Sprint Goal, and identify blockers.

Question 14

Agile Ceremony: Sprint Review

Accepted Answer

An event held at the end of the iteration where the team demos the increment to stakeholders, inspects working product, and gathers feedback.

Question 15

Agile Ceremony: Sprint Retrospective

Accepted Answer

An internal meeting at the end of a sprint for the team to reflect on their process, interactions, and tools, generating actionable improvements for the next iteration.

Question 16

Negative Risk Response Strategies (Threats)

Accepted Answer

1. **Escalate**: Transfer outside project boundary/authority.
2. **Avoid**: Eliminate threat entirely.
3. **Transfer**: Shift impact/ownership (e.g., insurance, vendor contract).
4. **Mitigate**: Reduce probability or impact.
5. **Accept**: Acknowledge risk (active with contingency, or passive).

Question 17

Positive Risk Response Strategies (Opportunities)

Accepted Answer

1. **Escalate**: Shift to higher management.
2. **Exploit**: Ensure opportunity definitely happens.
3. **Share**: Allocate ownership to third party best able to capture it.
4. **Enhance**: Increase probability or positive impact.
5. **Accept**: Take advantage if it happens, but do not actively pursue.

Question 18

Predictive vs. Adaptive Lifecycles

Accepted Answer

- **Predictive (Waterfall)**: Scope, time, and cost are determined early; changes are tightly controlled.
- **Adaptive (Agile)**: Scope is defined iteratively; rapid feedback cycles; changes are welcomed and embraced.

Question 19

Hybrid Project Delivery

Accepted Answer

A combination of predictive and adaptive approaches. Example: Using predictive planning for high-risk infrastructure/hardware components and agile iterations for software development.

Question 20

Definition of Done (DoD) vs. Acceptance Criteria

Accepted Answer

- **Definition of Done**: Universal quality standard applied to *all* user stories in a project/sprint to ensure product increment quality.
- **Acceptance Criteria**: Specific criteria unique to a *single* user story that must be met for business completion.

PMP Exam Prep - PMBOK 7th Edition Principles, Agile & Hybrid Project Delivery

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