PMP Exam Prep - Agile, Hybrid & Predictive Project Frameworks Flashcards

Question 1

Variance at Completion (VAC)

Accepted Answer

A projection of the amount of budget deficit or surplus at the end of the project.

**Formula:**
$VAC = BAC - EAC$

* **Positive $VAC$**: Under budget
* **Negative $VAC$**: Over budget

Question 2

Cost Performance Index (CPI)

Accepted Answer

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost.

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

* **$CPI > 1.0$**: Under budget (favorable)
* **$CPI < 1.0$**: Over budget (unfavorable)
* **$CPI = 1.0$**: Exactly on budget

Question 3

Schedule Performance Index (SPI)

Accepted Answer

A measure of schedule efficiency expressed as the ratio of earned value to planned value.

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

* **$SPI > 1.0$**: Ahead of schedule (favorable)
* **$SPI < 1.0$**: Behind schedule (unfavorable)
* **$SPI = 1.0$**: On schedule

Question 4

Estimate at Completion (EAC) - Typical Variances

Accepted Answer

Predicts the total expected cost for completing all work when current cost performance is expected to continue for the remainder of the project.

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

Question 5

Product Owner (Agile Role)

Accepted Answer

The role responsible for maximizing the value of the product resulting from the work of the Scrum Team. Key responsibilities include:
* Managing and prioritizing the **Product Backlog**
* Defining user stories and acceptance criteria
* Representing the customer and key stakeholders

Question 6

Scrum Master (Agile Role)

Accepted Answer

A servant-leader who ensures the team adheres to Scrum theories, practices, and rules. Key responsibilities include:
* Removing blockers/impediments for the team
* Facilitating Scrum events (Daily Standup, Retrospectives)
* Shielding the team from external distractions

Question 7

Servant Leadership

Accepted Answer

A leadership philosophy utilized heavily in Agile environments that focuses on serving the team first. Servant leaders:
* Empower team members to self-organize
* Remove impediments to progress
* Provide necessary resources and support rather than dictating commands

Question 8

Collaborate / Problem Solve (Conflict Resolution)

Accepted Answer

Incorporates multiple viewpoints and insights from different perspectives; requires an open attitude and dialogue. Leads to consensus and commitment (**Win-Win** approach). Ideal when long-term relationships and total commitment are critical.

Question 9

Compromise / Reconcile (Conflict Resolution)

Accepted Answer

Searching for solutions that bring some degree of satisfaction to all parties in order to temporarily or partially resolve the conflict. Results in a **Lose-Lose** scenario as both sides make concessions.

Question 10

Force / Direct (Conflict Resolution)

Accepted Answer

Pushing one's viewpoint at the expense of others; offering only win-lose solutions. Usually enforced through power/authority (**Win-Lose** approach). Best used in emergency situations or when time is critical.

Question 11

Smooth / Accommodate (Conflict Resolution)

Accepted Answer

Emphasizing areas of agreement rather than areas of difference; conceding one's position to the needs of others to maintain harmony and relationships (**Lose-Win** approach).

Question 12

PMBOK 7th Edition - 8 Project Performance Domains

Accepted Answer

Groupings of related activities that are critical for the effective delivery of project outcomes:
1. Stakeholders
2. Team
3. Development Approach & Lifecycle
4. Planning
5. Project Work
6. Delivery
7. Measurement
8. Uncertainty

Question 13

Predictive vs. Adaptive Lifecycles

Accepted Answer

* **Predictive (Waterfall)**: Scope, time, and cost are determined early in the project life cycle; changes are strictly managed.
* **Adaptive (Agile/Iterative)**: Requirements are refined continuously; deliverables are developed incrementally through short iterations.

Question 14

Hybrid Project Framework

Accepted Answer

A combination of predictive and adaptive approaches. Used when a project has both well-known, clear requirements (predictive) and high-uncertainty or rapidly changing elements (agile).

Question 15

Negative Risk Strategies (Threats)

Accepted Answer

5 ways to manage threats in PMBOK:
1. **Escalate**: Transfer authority to higher management
2. **Avoid**: Eliminate threat or project exposure
3. **Transfer**: Shift impact/ownership to third party (e.g., insurance)
4. **Mitigate**: Reduce probability or impact
5. **Accept**: Acknowledge and do not act unless triggered

Question 16

Positive Risk Strategies (Opportunities)

Accepted Answer

5 ways to manage opportunities in PMBOK:
1. **Escalate**: Shift to higher management if outside project scope
2. **Exploit**: Ensure opportunity is realized (100% probability)
3. **Share**: Allocate ownership to third party better able to capture benefit
4. **Enhance**: Increase probability or positive impact
5. **Accept**: Willingness to take advantage if it occurs

Question 17

Stakeholder Engagement Assessment Matrix

Accepted Answer

A matrix used to compare current engagement levels of stakeholders with desired engagement levels required for project success.

**Engagement Levels:**
* Unaware
* Resistant
* Neutral
* Supportive
* Leading

Question 18

Sprint Review vs. Sprint Retrospective

Accepted Answer

* **Sprint Review**: Focuses on the **product**. The team demonstrates the completed increment to stakeholders to gather feedback.
* **Sprint Retrospective**: Focuses on the **process and team**. The team reflects on how they worked during the sprint and identifies continuous improvement items.

Question 19

Definition of Done (DoD)

Accepted Answer

A shared, formal specification of the quality and functional criteria required for a product increment to be considered complete and ready for release. Prevents unverified work from being released.

Question 20

To-Complete Performance Index (TCPI)

Accepted Answer

A calculated measure of the cost performance that must be achieved on remaining resources to meet a specified management goal (BAC or EAC).

**Formula (based on BAC):**
$TCPI = \frac{BAC - EV}{BAC - AC}$

* **$TCPI > 1.0$**: Harder to achieve (need to be more efficient)
* **$TCPI < 1.0$**: Easier to achieve

PMP Exam Prep - Agile, Hybrid & Predictive Project Frameworks

Cards in this deck

Related Flashcard Sets

TypeScript - Modern JavaScript Development & Type Safety

Monash FIT9132 - Data Mining & Machine Learning Fundamentals

Biochemistry - Metabolic Pathways & Regulation

JLPT N2 - Advanced Japanese Grammar, Vocabulary & Kanji