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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. 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.






2. The amount of time whereby a successor activity can be advanced with respect to a predecessor activity.






3. An intentional activity that realigns the performance of the project work with the project management plan.






4. A method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model.






5. In the critical path method - the earliest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic - the data date - and any schedule constraints.






6. A formally chartered group responsible for reviewing - evaluating - approving - delaying - or rejecting changes to the project and for recording and communicating such decisions.






7. A review at the end of a phase in which a decision is made to continue to the next phase - to continue with modification - or to end a project or program.






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






9. A person or group who provides resources and support for the project - program - or portfolio - and is accountable for enabling success.






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






11. A process used to investigate or analyze the output of the schedule model in order to optimize the schedule






12. A significant point or event in a project - program - or portfolio.






13. A representation of the plan for executing the project's activities including durations - dependencies and other planning information - used to produce a project schedule along with other scheduling artifacts.






14. A critical path method technique for calculating the late start and late finish dates by working backward through the schedule model from the project end date.






15. A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply.






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






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






18. A collection of logically related project activities that culminates in the completion of one or more deliverables.






19. The description of the project scope - major deliverables - assumptions - and constraints.






20. A management control point where scope - budget - actual cost - and schedule are integrated and compared to earned value for performance measurement.






21. An intentional activity to modify a nonconforming product or product component.






22. The application of knowledge - skills - tools - and techniques to project activities to meet the project requirements.






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






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






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






26. A technique used to estimate cost or duration by applying an average of optimistic - pessimistic - and most likely estimates when there is uncertainty with the individual activity estimates.






27. In the critical path method - the latest possible point in time when the uncompleted portions of a schedule activity can finish based on the schedule network logic - the project completion date - and any schedule constraints.






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






29. A risk response strategy whereby the project team acts to eliminate the threat or protect the project from its impact.






30. An estimate of the most probable activity duration that takes into account all of the known variables that could affect performance.






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






33. A condition or capability that is required to be present in a product - service - or result to satisfy a contract or other formally imposed specification.






34. A formal proposal to modify any document - deliverable - or baseline.






35. The person assigned by the performing organization to lead the team that is responsible for achieving the project objectives.






36. Conditions - not under the immediate control of the team - that influence - constrain - or direct the project - program - or portfolio.






37. A factor in the planning process that is considered to be true - real - or certain - without proof or demonstration.






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






39. The authorized budget assigned to scheduled work.






40. A graphical representation of the logical relationships among the project schedule activities.






41. The series of phases that represent the evolution of a product - from concept through delivery - growth - maturity - and to retirement.






42. A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.






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






44. A technique used for dividing and sub-dividing the project scope and project deliverables into smaller - more manageable parts.






45. An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters.






46. 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.






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






48. A management structure that standardizes the program-related governance processes and facilitates the sharing of resources - methodologies - tools - and techniques.






49. 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.






50. The application of knowledge - skills - tools - and techniques to a program to meet the program requirements and to obtain benefits and control not available by managing projects individually.