PMP Certification - Process Groups & Knowledge Areas Flashcards

Question 1

What are the 5 PMP Process Groups and their core objectives?

Accepted Answer

1. **Initiating**: Define a new project or phase and gain authorization.
2. **Planning**: Establish scope, refine objectives, and define the course of action.
3. **Executing**: Complete the work defined in the management plan to satisfy specifications.
4. **Monitoring & Controlling**: Track, review, and regulate progress to identify required changes.
5. **Closing**: Formally finalize all activities across process groups to complete the project or phase.

Question 2

What are the 10 PMBOK Knowledge Areas?

Accepted Answer

1. Project Integration Management
2. Project Scope Management
3. Project Schedule Management
4. Project Cost Management
5. Project Quality Management
6. Project Resource Management
7. Project Communications Management
8. Project Risk Management
9. Project Procurement Management
10. Project Stakeholder Management

Question 3

EVM: Planned Value (PV) vs. Earned Value (EV) vs. Actual Cost (AC)

Accepted Answer

- **Planned Value (PV)**: The authorized budget assigned to scheduled work.
- **Earned Value (EV)**: The budget assigned to work actually completed.
- **Actual Cost (AC)**: The total cost incurred for work performed.

Question 4

EVM Formulas: Cost Variance (CV) & Schedule Variance (SV)

Accepted Answer

- **Cost Variance**: $CV = EV - AC$ - $CV > 0$: Under budget (favorable) - $CV < 0$: Over budget (unfavorable) - **Schedule Variance**: $SV = EV - PV$ - $SV > 0$: Ahead of schedule (favorable) - $SV < 0$: Behind schedule (unfavorable)

Question 5

EVM Formulas: Performance Indexes (CPI & SPI)

Accepted Answer

- **Cost Performance Index**: $CPI = \frac{EV}{AC}$ - $CPI > 1.0$: Cost efficient (under budget) - $CPI < 1.0$: Over budget - **Schedule Performance Index**: $SPI = \frac{EV}{PV}$ - $SPI > 1.0$: Schedule efficient (ahead of schedule) - $SPI < 1.0$: Behind schedule

Question 6

EVM Formulas: Estimate at Completion (EAC)

Accepted Answer

- **Typical (current CPI expected to continue)**: $EAC = \frac{BAC}{CPI}$
- **Atypical (future work performed at budgeted rate)**: $EAC = AC + (BAC - EV)$
- **Bottom-Up**: $EAC = AC + 	ext{Bottom-Up ETC}$
- **Combining CPI and SPI**: $EAC = AC + \frac{BAC - EV}{CPI 	imes SPI}$

Question 7

EVM Formulas: Estimate to Complete (ETC) & Variance at Completion (VAC)

Accepted Answer

- **Estimate to Complete (ETC)**: Expected cost to finish remaining work.
  $$ETC = EAC - AC$$
- **Variance at Completion (VAC)**: Expected budget deficit or surplus.
  $$VAC = BAC - EAC$$
  - $VAC \ge 0$: Under or on budget
  - $VAC < 0$: Over budget

Question 8

EVM Formula: To-Complete Performance Index (TCPI)

Accepted Answer

Calculates the required cost performance needed to meet a specified target ($BAC$ or $EAC$):

- **To meet original budget (BAC)**:
  $$TCPI = \frac{BAC - EV}{BAC - AC}$$
- **To meet revised estimate (EAC)**:
  $$TCPI = \frac{BAC - EV}{EAC - AC}$$
*(A value $> 1.0$ indicates harder performance required)*

Question 9

Key ITTOs: Develop Project Charter

Accepted Answer

- **Inputs**: Business Documents (Business Case, Benefits Management Plan), Agreements, EEFs, OPAs
- **Tools & Techniques**: Expert Judgment, Data Gathering (Brainstorming, Focus Groups), Interpersonal and Team Skills, Meetings
- **Outputs**: **Project Charter**, Assumption Log

Question 10

Key ITTOs: Develop Project Management Plan

Accepted Answer

- **Inputs**: Project Charter, Outputs from other processes, EEFs, OPAs
- **Tools & Techniques**: Expert Judgment, Data Gathering, Interpersonal & Team Skills, Meetings
- **Outputs**: **Project Management Plan** (combines 12 subsidiary management plans & 3 baselines)

Question 11

Direct & Manage Project Work vs. Monitor & Control Project Work

Accepted Answer

- **Direct & Manage Project Work** (Executing):
  - *Primary Output*: **Deliverables**, Work Performance Data, Issue Log.
- **Monitor & Control Project Work** (Monitoring & Controlling):
  - *Primary Input*: Work Performance Data.
  - *Primary Output*: **Work Performance Reports**, Change Requests.

Question 12

Perform Integrated Change Control: Purpose & Key Outputs

Accepted Answer

- **Purpose**: Review all change requests, approve/reject changes, and manage changes to deliverables, project documents, and the project plan.
- **Key Inputs**: Change Requests, Project Management Plan, Work Performance Reports.
- **Key Tool**: Change Control Board (CCB).
- **Key Outputs**: **Approved Change Requests**, Change Log.

Question 13

Critical Path Method (CPM) & Float Calculations

Accepted Answer

- **Critical Path**: Longest sequence of activities that determines the shortest project duration (Float = 0).
- **Total Float (TF)**: Time an activity can be delayed without delaying project completion.
  $$TF = LS - ES \quad 	ext{or} \quad TF = LF - EF$$
- **Free Float (FF)**: Time an activity can be delayed without delaying the Early Start of any successor.

Question 14

Three-Point Estimating Formulas (PERT vs. Triangular)

Accepted Answer

- **Triangular Distribution (Simple Average)**:
  $$E = \frac{O + M + P}{3}$$
- **Beta / PERT Distribution (Weighted)**:
  $$E = \frac{O + 4M + P}{6}$$
- **Standard Deviation (Beta)**:
  $$\sigma = \frac{P - O}{6}$$
*(O = Optimistic, M = Most Likely, P = Pessimistic)*

Question 15

Communication Channels Formula

Accepted Answer

Calculates potential communication pathways among team members:

$$	ext{Channels} = \frac{N(N - 1)}{2}$$

*Where $N$ = total number of stakeholders.*

Question 16

Risk Response Strategies for Threats vs. Opportunities

Accepted Answer

- **Threat Strategies (Negative Risks)**:
  1. Escalate
  2. Avoid
  3. Transfer
  4. Mitigate
  5. Accept
- **Opportunity Strategies (Positive Risks)**:
  1. Escalate
  2. Exploit
  3. Share
  4. Enhance
  5. Accept

Question 17

Contract Types: Risk Distribution

Accepted Answer

- **Fixed-Price (FFP, FPIF)**: Risk is on the **Seller**. Requires stable, well-defined scope.
- **Cost-Reimbursable (CPFF, CPIF, CPAF)**: Risk is on the **Buyer**. Ideal when scope is evolving or unclear.
- **Time and Materials (T&M)**: Shared/Hybrid risk. Best for staff augmentation or short-term work.

Question 18

Agile Principles: Servant Leadership Core Responsibilities

Accepted Answer

1. **Shield the team** from external distractions.
2. **Remove impediments/blockers** hindering productivity.
3. **Facilitate collaboration** and clear communication.
4. **Promote team autonomy** and empowerment rather than command-and-control.

Question 19

Agile Artifacts & Ceremonies Overview

Accepted Answer

- **Artifacts**: Product Backlog, Sprint/Iteration Backlog, Increment.
- **Ceremonies**: Sprint Planning, Daily Standup (15-min daily sync), Sprint Review (demo to stakeholders), Sprint Retrospective (continuous process improvement).

Question 20

PMI Code of Ethics: 4 Foundational Values

Accepted Answer

1. **Responsibility**: Ownership of decisions, actions, and consequences.
2. **Respect**: High regard for self, others, resources, and rules.
3. **Fairness**: Objective decision-making without bias, prejudice, or self-interest.
4. **Honesty**: Truthful communication and transparency in all interactions.

PMP Certification - Process Groups & Knowledge Areas

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