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PMI Project Management Vocab

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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 numbering system used to uniquely identify each component of the work breakdown structure.






2. A hierarchical representation of resources by category and type.






3. 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.






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






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






6. An individual - group - or organization who may affect - be affected by - or perceive itself to be affected by a decision - activity - or outcome of a project - program - or portfolio.






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






8. A limiting factor that affects the execution of a project - program - portfolio - or process.






9. The approved version of a schedule model that can be changed only through formal change control procedures and is used as a basis for comparison to actual results.






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






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






12. The work performed to deliver a product - service - or result with the specified features and functions.






13. An activity where effort is allotted proportionately across certain discrete efforts and not divisible into discrete efforts. (Note: Apportioned effort is one of three earned value management [EVM] types of activities used to measure work performance






14. The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete.






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. 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.






17. 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.






18. A relationship in which a schedule activity has more than one successor.






19. 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.






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






21. 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.)






22. A risk response strategy whereby the project team acts to reduce the probability of occurrence or impact of a risk.






23. 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.






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






25. A set of conditions that is required to be met before deliverables are accepted.






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






27. Any unique and verifiable product - result - or capability to perform a service that is required to be produced to complete a process - phase - or project.






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






29. A technique for estimating the duration or cost of an activity or a project - using historical data from a similar activity or project.






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






31. 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.






32. A group of potential causes of risk.






33. 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.






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






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






36. The sum of all budgets established for the work to be performed.






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






38. A critical path method technique for calculating the early start and early finish dates by working forward through the schedule model from the project start date or a given point in time.






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






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






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






42. 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.






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






44. An output of a schedule model that presents linked activities with planned dates - durations - milestones - and resources.






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






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






47. A risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs.






48. The authorized budget assigned to scheduled work.






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






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







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