PMP - Project Management Processes & Methodologies Flashcards

Question 1

What are the 5 PMP Process Groups?

Accepted Answer

The 5 PMP Process Groups are: 
1. **Initiating:** Defining a new project or a new phase of an existing project by obtaining authorization. 
2. **Planning:** Establishing the scope, refining objectives, and defining the course of action required to attain the objectives. 
3. **Executing:** Performing the work defined in the project management plan to satisfy project specifications. 
4. **Monitoring & Controlling:** Tracking, reviewing, and regulating the progress and performance of the project; identifying areas where changes to the plan are required; and initiating the corresponding changes. 
5. **Closing:** Finalizing all activities across all Process Groups to formally complete the project or phase, or contractual obligations.

Question 2

Define Project Integration Management.

Accepted Answer

Project Integration Management includes the processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups. It's about making choices about resource allocation, conflicting objectives, and alternative approaches.

Question 3

Define Project Scope Management.

Accepted Answer

Project Scope Management includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully. It focuses on defining and controlling what is and is not included in the project.

Question 4

Define Project Schedule Management.

Accepted Answer

Project Schedule Management includes the processes required to manage the timely completion of the project. This involves planning, developing, monitoring, and controlling the project schedule.

Question 5

Define Project Cost Management.

Accepted Answer

Project Cost Management includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so that the project can be completed within the approved budget.

Question 6

Define Project Quality Management.

Accepted Answer

Project Quality Management includes the processes for incorporating the organization's quality policy regarding planning, managing, and controlling project and product quality requirements in order to meet stakeholder expectations.

Question 7

Define Project Resource Management.

Accepted Answer

Project Resource Management includes the processes to identify, acquire, and manage the resources needed for the successful completion of the project. This includes physical resources (equipment, materials, facilities) and team resources (people).

Question 8

Define Project Communications Management.

Accepted Answer

Project Communications Management includes the processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and the ultimate disposition of project information.

Question 9

Define Project Risk Management.

Accepted Answer

Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, implementation of responses, and monitoring risk on a project. Its objective is to increase the probability and impact of positive events and decrease the probability and impact of negative events.

Question 10

Define Project Procurement Management.

Accepted Answer

Project Procurement Management includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team. This involves managing contracts or purchase orders issued by the project team.

Question 11

Define Project Stakeholder Management.

Accepted Answer

Project Stakeholder Management includes the processes required to identify all people or organizations impacted by the project, analyze stakeholder expectations and their impact on the project, and develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.

Question 12

What are ITTOs in PMP?

Accepted Answer

ITTOs stand for **Inputs, Tools & Techniques, and Outputs**. They are the fundamental building blocks of every PMP process. 
*   **Inputs:** Documents, plans, data, or agreements needed to perform a process. 
*   **Tools & Techniques:** Mechanisms applied to the inputs to create the outputs. 
*   **Outputs:** Documents, plans, data, or deliverables that result from a process.

Question 13

What is the 'Develop Project Charter' process?

Accepted Answer

The 'Develop Project Charter' process is part of the Initiating Process Group. It is the process of developing a document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. 
*   **Key Input:** Business Case 
*   **Key Output:** Project Charter

Question 14

List the four core values of the Agile Manifesto.

Accepted Answer

The four core values of the Agile Manifesto are: 
1.  **Individuals and interactions** over processes and tools. 
2.  **Working software** over comprehensive documentation. 
3.  **Customer collaboration** over contract negotiation. 
4.  **Responding to change** over following a plan.

Question 15

What are the three core roles in Scrum?

Accepted Answer

The three core roles in Scrum are: 
1.  **Product Owner:** Responsible for maximizing the value of the product resulting from the work of the Development Team. Manages the Product Backlog. 
2.  **Scrum Master:** Responsible for promoting and supporting Scrum. Helps everyone understand Scrum theory, practices, rules, and values. Serves the Development Team and Product Owner. 
3.  **Development Team:** Consists of professionals who do the work of delivering a potentially releasable Increment of 'Done' product at the end of each Sprint.

Question 16

Explain the core principles of Kanban.

Accepted Answer

Kanban is a method for managing and improving work across human systems. Its core principles include: 
1.  **Visualize the workflow:** Use a Kanban board to see all work items and their status. 
2.  **Limit Work In Progress (WIP):** Restrict the number of items in each workflow stage to improve focus and flow. 
3.  **Manage flow:** Monitor, measure, and improve the flow of work through the system. 
4.  **Make policies explicit:** Clearly define how work is done, from start to finish. 
5.  **Implement feedback loops:** Regularly review and adjust processes. 
6.  **Improve collaboratively, evolve experimentally:** Encourage continuous improvement through shared understanding and scientific approach.

Question 17

What are the key Earned Value Management (EVM) metrics and their formulas for variance?

Accepted Answer

EVM uses three key metrics: 
*   **Planned Value (PV):** The authorized budget assigned to scheduled work. 
*   **Earned Value (EV):** The value of the work performed expressed in terms of the approved budget assigned to that work. 
*   **Actual Cost (AC):** The total cost incurred for the work performed.

**Variance Formulas:** 
*   **Cost Variance (CV):** $CV = EV - AC$ (Negative is over budget) 
*   **Schedule Variance (SV):** $SV = EV - PV$ (Negative is behind schedule)

Question 18

What are the key Earned Value Management (EVM) metrics and their formulas for performance indices?

Accepted Answer

EVM uses performance indices to indicate efficiency: 
*   **Cost Performance Index (CPI):** $CPI = EV / AC$ (Less than 1 is over budget) 
*   **Schedule Performance Index (SPI):** $SPI = EV / PV$ (Less than 1 is behind schedule)

Question 19

What are the key Earned Value Management (EVM) formulas for forecasting?

Accepted Answer

EVM forecasting helps predict future performance: 
*   **Estimate At Completion (EAC):** The expected total cost of completing all work. 
    *   $EAC = AC + ETC$ (if ETC is re-estimated) 
    *   $EAC = BAC / CPI$ (if CPI is expected to continue) 
    *   $EAC = AC + (BAC - EV)$ (if future work will be performed at the budgeted rate) 
    *   $EAC = AC + [(BAC - EV) / (CPI * SPI)]$ (if both CPI and SPI influence future work) 
*   **Estimate To Complete (ETC):** The expected cost to finish all the remaining project work. 
    *   $ETC = EAC - AC$ 
*   **Variance At Completion (VAC):** The projected amount of budget deficit or surplus. 
    *   $VAC = BAC - EAC$

*BAC = Budget At Completion*

Question 20

Explain the Critical Path Method (CPM).

Accepted Answer

The Critical Path Method (CPM) is a schedule network analysis technique used to determine the amount of schedule flexibility (the amount of float) on various logical network paths, and to determine the minimum total project duration. The **critical path** is the sequence of activities that represents the longest path through a project, which determines the shortest possible duration. Any delay on a critical path activity will delay the entire project. Activities on the critical path have zero float (or total slack).

PMP - Project Management Processes & Methodologies

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