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Project Management Study Cards


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What is project management?

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Answer:

The application of knowledge skills tools and techniques to project activities to meet project requirements

What are the five project management process groups?

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Answer:

Initiating Planning Executing Monitoring and Controlling and Closing

What is the project management triangle?

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Answer:

The relationship between scope time and cost - changing one affects the others

What is a project charter?

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Answer:

A document that formally authorizes a project and gives the project manager authority to proceed

What is scope creep?

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Answer:

The uncontrolled expansion of project scope without adjustments to time cost or resources

What is the critical path?

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Answer:

The longest sequence of activities in a project that determines the minimum project duration

What is a work breakdown structure (WBS)?

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Answer:

A hierarchical decomposition of the project work into smaller manageable components

What is a stakeholder?

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Answer:

Any individual group or organization that can affect or is affected by the project

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What is the difference between a project and operations?

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Answer:

Projects are temporary with unique deliverables while operations are ongoing repetitive activities

What is risk management in projects?

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Answer:

The process of identifying analyzing and responding to project risks throughout the project lifecycle

What is a milestone?

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Answer:

A significant point or event in the project schedule typically marking completion of a major deliverable

What is the purpose of a project schedule?

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Answer:

To determine when project activities should be performed and resources should be used

What is earned value management (EVM)?

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Answer:

A project management technique that integrates scope schedule and cost to measure project performance

What is a project sponsor?

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Answer:

The person or group that provides resources and support for the project and champions its success

What is the difference between Agile and Waterfall methodologies?

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Answer:

Agile is iterative and adaptive while Waterfall is sequential and follows a linear progression

What is a sprint in Agile?

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Answer:

A time-boxed iteration typically lasting 1-4 weeks where a working product increment is delivered

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What is a Scrum Master?

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Answer:

A facilitator who helps the Scrum team follow Agile practices and removes impediments

What is a product backlog?

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Answer:

A prioritized list of features and requirements for the product being developed

What is a Gantt chart?

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Answer:

A visual timeline that shows project tasks their durations and dependencies

What is resource leveling?

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Answer:

The technique of adjusting start and finish dates to balance resource demand with resource availability

What is a project baseline?

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Answer:

The approved version of the project plan used as a reference point for measuring performance

What is change control?

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Answer:

The formal process for managing changes to project scope schedule or budget

What is quality assurance vs quality control?

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Answer:

QA prevents defects through processes while QC detects defects through inspection and testing

What is a RACI matrix?

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Answer:

A responsibility assignment matrix showing who is Responsible Accountable Consulted and Informed for each task

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What is the purpose of lessons learned?

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Answer:

To capture knowledge and experiences from the project to improve future project performance

What is a risk register?

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Answer:

A document that records identified risks their probability impact and response strategies

What is float or slack time?

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Answer:

The amount of time an activity can be delayed without delaying the project completion date

What is the difference between lead time and lag time?

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Answer:

Lead time allows activities to overlap while lag time creates delays between dependent activities

What is a project closure?

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Answer:

The formal process of completing all project activities and transferring deliverables to operations

What is stakeholder management?

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Answer:

The process of identifying engaging and managing relationships with people affected by the project

Remember: Use all available resources to study. Flearn alone cannot guarantee success in any exams—make sure to supplement your learning!