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PMI Project Management Vocab

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS).






2. A logical relationship in which a successor activity cannot start until a predecessor activity has finished.






3. A technique used to shorten the schedule duration without reducing the project scope.






4. Projects - programs - subportfolios - and operations managed as a group to achieve strategic objectives.






5. A risk response strategy whereby the project team shifts the impact of a threat to a third party - together with ownership of the response.






6. The amount of budget deficit or surplus at a given point in time - expressed as the difference between the earned value and the actual cost.






7. An estimate of the shortest activity duration that takes into account all of the known variables that could affect performance.






8. A component of a project or program management plan that describes how costs will be planned - structured - and controlled.






9. The document that describes how the project will be executed - monitored - and controlled.






10. A component of the project or program management plan that describes how a team will acquire goods and services from outside of the performing organization.






11. A numbering system used to uniquely identify each component of the work breakdown structure.






12. A set of procedures that describes how modifications to the project deliverables and documentation are managed and controlled.






13. A dependent activity that logically comes after another activity in a schedule.






14. The process of optimizing the mix of portfolio components to further the strategic objectives of the organization.






15. A measure of schedule performance expressed as the difference between the earned value and the planned value.






16. A logical relationship in which a successor activity cannot finish until a predecessor activity has finished.






17. A risk that would have a positive effect on one or more project objectives.






18. A calendar that identifies working days and shifts that are available for scheduled activities.






19. An estimate expressed as a percent of the amount of work that has been completed on an activity or a work breakdown structure component.






20. The expected cost to finish all the remaining project work.






21. A methodology that combines scope - schedule - and resource measurements to assess project performance and progress.






22. The number of labor units required to complete a schedule activity or work breakdown structure component - often expressed in hours - days - or weeks.






23. A calendar that identifies the working days and shifts upon which each specific resource is available.






24. A schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project uncertainties.






25. The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.






26. A hierarchical representation of risks that is organized according to risk categories.






27. Any activity on the critical path in a project schedule.






28. A grid that links product requirements from their origin to the deliverables that satisfy them.






29. An earned value management technique used to indicate performance trends by using a graph that displays cumulative costs over a specific time period.






30. A dependency between two activities - or between an activity and a milestone.






31. An activity that does not produce definitive end products and is measured by the passage of time. (Note: Level of effort is one of three earned value management [EVM] types of activities used to measure work performance.)






32. An event or situation that indicates that a risk is about to occur.






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






34. A measure of the cost performance that is required to be achieved with the remaining resources in order to meet a specified management goal - expressed as the ratio of the cost to finish the outstanding work to the remaining budget.






35. A projection of the amount of budget deficit or surplus - expressed as the difference between the budget at completion and the estimate at completion.






36. A component of the project - program - or portfolio management plan that describes how risk management activities will be structured and performed.






37. A distinct - scheduled portion of work performed during the course of a project.






38. The series of phases that a project passes through from its initiation to its closure.






39. A point in time when the status of the project is recorded.






40. An uncertain event or condition that - if it occurs - has a positive or negative effect on one or more project objectives.






41. A temporary endeavor undertaken to create a unique product - service - or result.






42. The approved version of a scope statement - work breakdown structure (WBS) - and its associated WBS dictionary - which can be changed only through formal change control procedures and is used as a basis for comparison.






43. A component of the project - program - or portfolio management plan that describes how - when - and by whom information will be administered and disseminated.






44. The approved version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison.






45. The centralized management of one or more portfolios to achieve strategic objectives.






46. The level of an organization's ability to deliver the desired strategic outcomes in a predictable - controllable - and reliable manner.






47. A risk that would have a negative effect on one or more project objectives.






48. An enterprise whose personnel are the most directly involved in doing the work of the project or program.






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






50. The uncontrolled expansion to product or project scope without adjustments to time - cost - and resources.