PMP Certification - Agile, Predictive & Hybrid Project Delivery Frameworks Flashcards

Question 1

Earned Value (EV)

Accepted Answer

The measure of work performed expressed in terms of the budget authorized for that work. Formula: $EV = 	ext{\% Completed} 	imes 	ext{BAC}$ (Budget at Completion).

Question 2

Planned Value (PV)

Accepted Answer

The authorized budget assigned to scheduled work. Represents the value of work that *should* have been completed by a specific point in time according to the schedule baseline.

Question 3

Actual Cost (AC)

Accepted Answer

The total realized cost incurred for the work performed on an activity during a specific time period.

Question 4

Cost Performance Index (CPI)

Accepted Answer

A measure of the cost efficiency of budgeted resources. Formula: $CPI = \frac{EV}{AC}$.
- $CPI > 1.0$: Under budget (favorable)
- $CPI < 1.0$: Over budget (unfavorable)

Question 5

Schedule Performance Index (SPI)

Accepted Answer

A measure of schedule efficiency. Formula: $SPI = \frac{EV}{PV}$.
- $SPI > 1.0$: Ahead of schedule (favorable)
- $SPI < 1.0$: Behind schedule (unfavorable)

Question 6

Cost Variance (CV) & Schedule Variance (SV)

Accepted Answer

Monetary measures of cost and schedule performance:
- Cost Variance: $CV = EV - AC$
- Schedule Variance: $SV = EV - PV$
Positive values indicate favorable performance.

Question 7

Estimate at Completion (EAC)

Accepted Answer

The expected total cost of completing all project work. Standard formula (assuming current performance continues): $EAC = \frac{BAC}{CPI}$.

Question 8

Scrum Role: Product Owner

Accepted Answer

Solely responsible for maximizing product value, managing and prioritizing the Product Backlog, defining Acceptance Criteria, and ensuring team alignment with customer needs.

Question 9

Scrum Role: Scrum Master

Accepted Answer

A servant leader who promotes and supports the Scrum framework, removes team impediments (blockers), facilitates events, and shields the team from external distractions.

Question 10

Scrum Role: Developers (Delivery Team)

Accepted Answer

A cross-functional, self-organizing group of professionals responsible for creating a usable, valuable Increment during each Sprint and estimating backlog items.

Question 11

Agile Ceremony: Sprint Planning

Accepted Answer

A timeboxed event where the Scrum Team collaboratively defines the Sprint Goal, selects Product Backlog items, and plans the Sprint Backlog.

Question 12

Agile Ceremony: Daily Standup (Daily Scrum)

Accepted Answer

A 15-minute timeboxed daily event for developers to synchronize activities, assess progress toward the Sprint Goal, and identify impediments.

Question 13

Agile Ceremony: Sprint Review

Accepted Answer

An event held at the end of the Sprint to inspect the Increment with stakeholders, gather feedback, and update the Product Backlog accordingly.

Question 14

Agile Ceremony: Sprint Retrospective

Accepted Answer

A internal team reflection meeting held at the end of a Sprint to analyze processes, relationships, and tools, creating an actionable plan for continuous improvement.

Question 15

Negative Risk Strategies (Threats)

Accepted Answer

1. **Avoid**: Change project plan to eliminate the threat completely.
2. **Mitigate**: Reduce probability or impact of the threat.
3. **Transfer**: Shift impact and ownership to a third party (e.g., insurance, warranties).
4. **Accept**: Acknowledge the threat without taking proactive action.

Question 16

Positive Risk Strategies (Opportunities)

Accepted Answer

1. **Exploit**: Ensure the opportunity definitely happens.
2. **Enhance**: Increase the probability and/or impact of the opportunity.
3. **Share**: Partner with a third party to capture the benefit.
4. **Accept**: Take advantage if it happens, but do not actively pursue it.

Question 17

Predictive vs. Agile Lifecycles

Accepted Answer

- **Predictive (Waterfall)**: Scope, time, and cost are defined early; changes are tightly controlled.
- **Agile (Adaptive)**: Requirements evolve iteratively through regular feedback loops; high adaptability and frequent delivery.

Question 18

Hybrid Project Delivery

Accepted Answer

A delivery approach combining predictive elements (e.g., high-level budgeting, hardware procurement) with agile practices (e.g., iterative software development and user feedback).

Question 19

Change Control Board (CCB)

Accepted Answer

A formally chartered body in predictive projects responsible for reviewing, evaluating, approving, delaying, or rejecting proposed changes to baseline documents.

Question 20

Work in Progress (WIP) Limits

Accepted Answer

A core Kanban concept limiting the maximum number of items allowed in a workflow state at any given time, preventing bottlenecks and improving flow throughput.

Question 21

Servant Leadership

Accepted Answer

A modern leadership style vital in Agile where leaders focus on serving the team, facilitating self-organization, empowering individuals, and removing organizational roadblocks.

PMP Certification - Agile, Predictive & Hybrid Project Delivery Frameworks

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