PMP Terms pt. 1
Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.
What is a Portfolio?
A set of individuals performing the work of the project to achieve its objectives.
What is a project team?
_______relies heavily on interpersonal skills, including taking initiative, integrity, honesty, collaboration, respect, empathy, and confidence. These skills and attitudes can help everyone adapt to the work and to each other, increasing the likelihood of success.
What is Stakeholder engagement?
A project involves dozens of stakeholders. Most of them need high-level information and updates about the project status, while the rest need more detailed information and frequent updates. To respond to these different requirements, what should the project manager create?
What is a stakeholder engagement plan?
Who can propose change?
Any stakeholder.
These considerations include currency exchange rates, interest rates, inflation, taxes, and tariffs.
What is Financial Considerations?
Project teams that are able to adapt the way they work to the environment and the situation are more effective.
What is Adaptability?
Projects operate in dynamic environments and face many mutually exclusive constraints including budget, scope, schedule, and quality, which can lead to ______.
What is conflict?
A Stephan question:
Sally is a new project manager that wants to promote ideals of self-definition and self-discovery; What leadership style is she using?
Servant Leadership
Of the 4 Code of Ethics and Professional Conduct values, which should you NEVER neglect?
Respect
A method of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project.
What is Stakeholder Analysis?
A schedule compression method in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration.
What is fast tracking?
A Stephan question:
What stage of the team development would you to take on the role of a coach?
Storming stage
A project manager keeps receiving negative feedback concerning one of the project suppliers. The conflicts between the project team and the supplier’s team are getting worse recently and are starting to have a negative impact on the project. What should the project manager do next?
A. Send an email to the supplier’s team manager explaining the alarming situation
B. Meet with the supplier’s team manager to discuss the issue
C. Call the supplier’s team manager and urge them to commit to the procurement agreement
D. Proceed with Alternative Dispute Resolution (ADR)
What is answer B?
Meet with the supplier’s team manager to discuss the issue
What is the difference between Project Budget and Baseline?
Management Reserve.
The meetings with prospective sellers prior to the preparation of a bid or proposal to ensure all prospective vendors have a clear and common understanding of the procurement. Also known as contractor conferences, vendor conferences, or pre-bid conferences
What is a bidder conference?
A Stephan question:
What is a technique to eliminate bottlenecks while improving efficiency?
Value stream mapping.
_______is performed to better suit the organization, operating environment, and project needs. Many variables factor into the tailoring process, including the criticality of the project and the number of stakeholders involved.
What is tailoring?
A project manager learns that they were not assigned the human resources they were promised during the planning phase. Instead, they got a team that did not have the required skills for executing the project work. Taking into consideration that they work in a weak matrix organization, what should the project manager do?
A. Issue a change request to get a more qualified team
B. Negotiate with the functional manager in order to obtain the required team members
C. Take the matter to the project sponsor
D. Use their legitimate power by informing the organization that they will not perform the project without the needed resources
What is answer B?
Negotiate with the functional manager in order to obtain the required team members
Your sponsor is concerned about the cost of quality and want to cut down on the number of inspections. How do you address this?
Use statistical sampling.
A Stephan question:
You are working on a project in Dubai, and damage to a mountain road has caused a 4-month delay. Road repairs were completed early in only 1 month. What is the new information??
Updating the issue log with the current situation.
An earned value management measure that indicates how efficiently the work is being performed with regard to the budgeted cost of the work.
What is cost performance index (CPI).
A ________works most effectively when information and feedback are shared consistently among all components, keeping the system aligned with strategy and attuned to the environment.
What is value delivery system?
A project experienced a significant team conflict during the final sprint. Nonetheless, the agile team succeeded in delivering a product that was accepted by the customer. What should the project manager do at the end of the sprint?
A. Conduct a retrospective meeting with the team to discuss what happened
B. Meet individually with the involved team members to express concerns regarding their behavior
C. Disregard the conflict since the project is coming to an end
D. Disregard the conflict since the team succeeded to achieve the project goals
What is answer A ?
Conduct a retrospective meeting with the team to discuss what happened
You are coming to the end of a 3 year project and want to ensure the project scope has been satisfied. Where can you confirm this?
Project management plans: it can contain scope baselines and may also include project scope.