PMP Exam 2022 Terminology| 404 questions| with complete solutions Updated, Exams of Project Management

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PMP Exam 2022

Terminology| 404 questions|

with complete solutions

Regulation Correct Ans - A mandate, usually enforced by a government or public entity, that must be followed. Apportioned Effort Correct Ans - An activity where effort is allotted proportionately across certain discrete efforts and not divisible into discrete efforts. (Note: It is one of three earned value management [EVM] types of activities used to measure work performance) Control Costs Correct Ans- The process of monitoring cost performance on the project, determining the cause and degree of any variances and recommending any necessary changes. Expectancy Theory Correct Ans - This theory that hypothesizes an individual presumes to be rewarded for their work. They will remain motivated as long as the rewards meet their expectations and desires. Estimate Costs Correct Ans - The process to estimate the approximate amount of money needed to complete each activity. Resource Management Plan Correct Ans - A component of the project or program management plan that describes how the roles and responsibilities, reporting relationships, and staff management will be addressed and structured. Activity Correct Ans - A distinct, scheduled portion of work performed during the course of a project. Agile Approach Correct Ans - An iterative project life cycle approach wherein the deliverables are defined at the beginning of each iteration. Project Scope Correct Ans - The work performed to deliver a product, service, or result with the specific features and functions. Critical Path Activity Correct Ans - Any activity on the critical path in a project schedule. Risk Mitigation Correct Ans - A risk response strategy whereby the project team acts to reduce the probability of occurrence or impact of a risk.

Project Expeditor Correct Ans - A staff assistant to a mid- level manager, has very little, if any, decision-making ability, and is primarily responsible for ensuring resources are available when needed.

Gantt Chart Correct Ans - A bar chart of schedule information where activities are listed on the vertical axis, dates are shown on the horizontal axis, and activity durations are shown as horizontal bars placed according to start and finish dates. Monitor Risks Correct Ans - The process of monitoring and controlling existing risks, looking for new risks, verifying the effectiveness of both the risk response plans and the overall risk management effort. A technique used to analyze a system as a whole to identify and end wasteful activities? Correct Ans - Value Steam Mapping Manage Project Knowledge Correct Ans - The process of using existing knowledge and creating new knowledge to achieve project objectives and contribute to organization learning Common Cause Correct Ans - A term used to identify a normal and predictable variation, in either a product or process. Plan Stakeholder Engagement Correct Ans - The process to develop the stakeholder management plan. Agile Release Planning Correct Ans - A technique which provides a high-level, summary timeline of the release schedule, based on the product roadmap and product vision. Program Management Office Correct Ans - A management structure that standardizes the program related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques. Staffing Management Plan Correct Ans - A component of the human resource plan that described when and how team members will be acquired and how long they will be needed. What defines a sprint objective and can be used to help improve a team's focus? Correct Ans - The sprint goal Summary Activity Correct Ans - A group of related schedule activities aggregated and displayed as a single activity. Claims Administration Correct Ans - A generic term for any process used to resolve disputes between the buyer and seller. Corrective Action Correct Ans - An intentional activity that realigns the performance of the project work with the project

management plan.

Project Float Correct Ans- The amount of time that a project can be delayed without overrunning a deadline imposed by the project sponsor, or a commitment made by the project manager. Meetings Correct Ans - A gathering of a group of stakeholders to discuss, and/or decide the outcome, of issues, or to share, transmit or receive information. Rolling Wave Planning Correct Ans - An iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level. Project Management Information System (PMIS) Correct Ans - A collection of various systems used to manage the inputs and outputs of the project management processes. Program Correct Ans - A group of related projects, subprograms, and program activities that are managed in a coordinated way to obtain benefits not available from managing them individually. What does IRR stand for? Correct Ans - Internal Rate of Return Manage Stakeholder Engagement Correct Ans - The process of ensuring stakeholders are properly involved throughout the lifecycle of the project, and managed according to the stakeholder management plan. What are the 3 Scrum Roles? Correct Ans - Product Owner Scrum Master Development Team BAC Correct Ans - The original, estimated and approved project budget plus or minus any approved changes. Agile methodologies require what leadership style to be demonstrated most frequently? Correct Ans - Servant Leadership Effort Correct Ans - The number of labor units required to complete a schedule activity or work breakdown structure component, often expressed in hours, days, or weeks. What is the primary objective of Sprint Planning? Correct Ans - For the team to make a commitment

Stakeholder cube Correct Ans - A three-dimensional model used to identify and classify stakeholder based on various dimensions of the stakeholder community. Manage Quality Correct Ans - The process of ensuring the project is following all of the proper policies and procedures, and recommending any necessary changes. Funding Limit Reconciliation Correct Ans - A technique applied to the cost baseline to ensure funds are available when needed, and if not, adjustments to the project schedule or the cost baseline are made. This is an oversized backlog item that would need to be decomposed into smaller component user stories to be completed within a single sprint? Correct Ans - Epic What is the only way to ensure code is testable? Correct Ans - Create a unit test and write code to make the test pass Quantitative Risk Analysis & Modeling Techniques Correct Ans - A technique employing various approaches and tools, such as charts and graphs, using both project-oriented and event-oriented analysis, to ascertain the overall probable impact of risks and a project. Stakeholder Management Correct Ans - The knowledge area which contains all of the processes necessary to identify, plan for managing, and engaging stakeholders. Delphi Technique Correct Ans - A technique used to gain consensus of a group of stakeholders when multiple levels of experience, politics, or conflict is present. Sometimes called blind requirements gathering. Optimistic Duration Correct Ans - An estimate of the shortest activity duration that takes into account all of the known variables that could affect performance. Develop Project Team Correct Ans - The process used to build a cohesive, high performing team. In Scrum, who has formal authority to ensure process adherence? Correct Ans - ScrumMaster Wireframes, prototypes, and spike solutions are all types of? Correct Ans

• Modeling

What-If Scenario Analysis Correct Ans - The process of evaluating scenarios in order to predict their effect on project objectives True or False: It is not acceptable to extend the end date of a sprint regardless of whether or not all functionality has been completed? Correct Ans - True Work Package Correct Ans - The work defined at the lowest level of the work breakdown structure for which cost and duration can be estimated. Cost Reimbursable Correct Ans - A category of contract types wherein the costs incurred by seller or vendor is returned to them. Depending on the specific type, an additional fee may also be paid to the seller. Risk Escalation Correct Ans - A risk response strategy employed to send the risk to higher authority for planning, monitoring and control (use when the risk is outside the scope of the project or the PM's authority) Forward Pass Correct Ans - 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 Portfolio Management Correct Ans - The centralized management of one or more portfolios to achieve strategic objectives Program Management Correct Ans - 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 How is cycle time defined? Correct Ans - The amount of time it takes a work item to progress from start to finish Cost Plus Incentive Fee Correct Ans - A contract type wherein the seller is reimbursed for all cost incurred on the contract plus a fee, either in the form of a bonus or a penalty, based upon hitting specific time and cost targets. Responsibility Assignment Matrix Correct Ans - A grid that shows the project resources assigned to each work package Backward Pass Correct Ans - 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

Estimate to Complete Correct Ans - A forecasted amount of money needed to complete the remaining portion of the project Float Correct Ans- The concept of slack time between activities, or the amount of slack time and activity can be delayed without delay in the project, or the amount of time that a project to be delayed without overrunning an imposed deadline Cost Performance Index Correct Ans - A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost. Formula: EV/AC Mutual Exclusivity Correct Ans - A term used to logically identify two events that cannot occur at the same time. Resource Management Plan Correct Ans - A component of the project management plan that describes how project resources are acquired, allocated, monitored, and controlled. Monitor Stakeholder Engagement Correct Ans - The process of observing stakeholder interactions and making adjustments as needed to the stakeholder management strategies. Successor Activity Correct Ans - A dependent activity that logically comes after another activity in a schedule. Probability Distributions Correct Ans - A method of assigning a probability of the possible outcome, based upon a process, procedure or experiment, and are generally divided into two categories - continuous and discrete What are the two parts of the Sprint Planning meeting? Correct Ans

• Part 1: The "what" - led by the Product Owner Part 2: The "how" - led by the Development Team Pre-Assignment Correct Ans- A technique in which a resource is assigned in advance of the project. Progressive Elaboration Correct Ans - The iterative process of increasing the level of detail in a project management plan as greater amounts of information and more accurate estimates become available

Enterprise Environmental Factors Correct Ans - Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio What is the term used to describe the cost of a team per sprint? Correct Ans - Burn Rate Implement Risk Responses Correct Ans - The process of implementing agreed-upon risk response plans Identify Stakeholders Correct Ans - The process for recognizing all potential individuals and organizations who will be involved in or impacted by the project. Communication Requirements Analysis Correct Ans - A technique employed to identify the desired communications methods and technologies of the stakeholders. Constraint Correct Ans - Any factor that limits the ability for the project team to meet the project objectives, execute a project, a program, portfolio, or process This type of testing is written by programmers, for programmers, in a programming language Correct Ans

• Unit Test Risk Breakdown Structure Correct Ans - A hierarchical representation of risks that is organized according to risk categories Risk Correct Ans - An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives Project Calendar Correct Ans - A calendar that identifies working days and shifts that are available for scheduled activities Activity Relationships Correct Ans - Logical interactions between activities, usually determined by the type of dependency that exists Plan Communications Management Correct Ans - The process to develop the project communications management plan, which will be used to ensure the right information gets to the right audience, at the right time. What Scrum ceremony has the objective of inspecting and adapting team processes and performance? Correct Ans -

Retrospective Negative Float Correct Ans - A situation that exists when schedule constraints violate the network logic.

Risk Management Correct Ans - The knowledge area that contains all of the processes used to increase the likelihood and impact of opportunities, and decrease the likelihood and impact of threats. Defect Repair Correct Ans- An intentional activity to modify a nonconforming product or product component This type of communication allows information to be absorbed simply by having team members in the same location? Correct Ans - Osmotic Root Cause Analysis Correct Ans - A technique applied to find the underlying reasons for why something happened. Threat Correct Ans - A risk that would have a negative effect on one or more project objectives In what level of conflict are two parties if there is really no alternative other than separating them?Correct Ans - Level 5 - (World War) Change Request Correct Ans - A formal proposal to modify any document, deliverable, or baseline Start-to-Start Correct Ans - A logical relationship in which a successor activity cannot start until a predecessor activity has started Scope Baseline Correct Ans- 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 True or False: For agile to be effective, teams should be devoid of conflict? Correct Ans - False - some conflict should be expected and encouraged, the most unhealthy teams are conflict avoidant Risk Category Correct Ans- A group of potential causes of risk AC Correct Ans - The actual amount of money expended for work that has been completed. RACI Chart Correct Ans - A format used in responsibility assignment matrix, that indicates who is responsible, who is accountable, who must be consulted and who must be informed. Checklist Correct Ans - A document used to ensure that

each and every step has been performed.

Quality Management Plan Correct Ans- A component of the project or program management plan that described how an organization's quality policies will be implemented. Variance at Completion Correct Ans - A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion. Formula: BAC-EAC Stakeholder Engagement Assessment Matrix Correct Ans

• A tool that is used to record and analyze current engagement levels of various stakeholders relative to the desired levels of engagement Control Scope Correct Ans - The process of monitoring the status of the project and product scope, and managing changes to the scope baseline. Expert Judgement Correct Ans - A technique employed to acquire and use the most knowledgeable professionals Variance Analysis Correct Ans - A technique for determining the cause and degree of difference between the baseline and actual performance Point of Total Assumption Correct Ans - The calculated point in an FPIF contract wherein the seller bears the burden and all further responsibility for cost overruns Early Finish Date Correct Ans - In the critical path method, the earliest 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 Three-Point Estimate Correct Ans - A mathematical technique employed to account for uncertainty in cost or duration estimates, wherein a most likely, an optimistic and a pessimistic estimate are used Procurement Statement of Work Correct Ans - The explicit sections of the project's statement of work, WBS and WBS dictionary that pertain to a particular procurement Herzber'g Motivation-Hygiene Theory Correct Ans - The theory that hypothesizes the notion that the amount of pay an employee receives does not satisfy, but will prevent dissatisfaction

Fait Accompli Correct Ans - A French word for is complete, and in negotiations it is used as a tactic when attempting to deflect the conversation away from an negotiable issue Tolerances Correct Ans - A term used to identify the range of acceptable variations Risk Transference Correct Ans - A risk response strategy whereby the project team shifts the impact of threat to a third party, together with ownership of the response Residual Risk Correct Ans - The amount of the original impact of a risk that remains after implementation of a response plan Resource Calendar Correct Ans - A calendar that identifies the working days and shifts upon which each specific resource is available Brainstorming Correct Ans - A highly-creative technique used to generate ideas and stimulate thought amongst a group of stakeholders Unknown-Unknown Correct Ans- A risk event that cannot be proactively identified or managed What is the difference between verification and validation? Correct Ans

• Verification determines if a product has been built right, validation determines if the right product was built Most Likely Duration Correct Ans - An estimate of the most probable activity duration that takes into account all of the known variables that could affect performance Project Staff Assignments Correct Ans - The formal assignment of human resources to the project Project Management Plan Correct Ans - The document that describes how the project will be executed, monitored, and controlled Black Swan Correct Ans - A term used in risk to identify an extremely low probability, yet extremely high impact threat. Plan Risk Management Correct Ans - The process to create the risk management plan, which contains all the tools, techniques, data sources, and processes for conducting risk management activities on the project

Planned Value Correct Ans - The authorized budget assigned to schedule work

What term is defined by changing code design and structure without changing its external behavior? Correct Ans - Refactoring Communications Correct Ans- The possible means by which information can be sent or received Cost Management Correct Ans - The knowledge area which contains all of the processes to ensure the project is completed within the approved budget. Communications Management Plan Correct Ans - The document that describes how communications will be planned, managed, monitored, and controlled throughout the project lifecycle Requirements Traceability Matrix Correct Ans - A grid that links product requirements from their origin to the deliverables that satisfy them Maslow's Hierarchy of NeedsCorrect Ans- The theory that hypothesizes that human needs must be met in a specific order Work Percent Complete Correct Ans - An estimate expressed as a percent of the amount of work (or effort) that has been completed on an activity or a work breakdown structure component Schedule Compression Correct Ans - The technique used to shorten the project schedule along the critical path, either by modifying the activity relationships, or adding resources and without reducing the project scope With respect to user stories, what are the 3C's? Correct Ans - Card - Conversation - Confirmation Procurement Audits Correct Ans - A technique applied to gather lessons learned specifically for the procurement process Organizational Breakdown Structure Correct Ans - A hierarchical representation of the project organization, which illustrates the relationship between project activities and the organizational units that will perform those activities Earned Value Correct Ans - The estimated and approved amount, for specific work that has been completed. Usually expressed in terms of currency (dollars).

Schedule Variance Correct Ans - A measure of schedule performance expressed as the difference between the earned value and planned value.

Formula: EV-PV What is a task or activity that is used as technical experiment to help the team investigate an approach or to help mitigate a risk? Correct Ans

• A spike experiment What are the steps in the Test-Driven Development (TDD) cycle? Correct Ans - Red
• Write test that fails Green - Write code and run test to verify it passes Refactor - Optimize and clean up code Deliverable Correct Ans - 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 Secondary Risk Correct Ans - A risk that arises as a direct result of implementing a risk response Contract Change Control System Correct Ans - The system used to manage changes to contracts Mediation Correct Ans - A specific type of claims administration process wherein an individual acts as a mediator, going back and forth between two conflicting parties to arrive at an agreeable solution Prevention Correct Ans - A technique that keeps errors or potential mistakes out of the process Identify Risks Correct Ans - The process of determining which opportunities and threats may affect the project Project Correct Ans - A temporary endeavor undertaken to create a unique product, service, or result Consensus Correct Ans - The condition that is reached when the majority of stakeholders are in general agreement or harmony Procurement documents Correct Ans - Any and all documents created by the project team to solicit potential sellers for a particular procurement opportunity Just-In-Time Management Correct Ans- A modern management strategy, usually employed in the Kanban approach, which limits the work in process and does not overload the team

Scatter Diagram Correct Ans - A diagram that shows the interrelationship of two variables Portfolio Correct Ans- Projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives Bottom-Up Estimating Correct Ans - A method of estimating project duration or cost by aggregating the estimates of the lower- level components of the work breakdown structure (WBS) Dependencies Correct Ans - Conditions that exist between activities that can force one activity to be completed before another, or allow activities to be completed simultaneously. Usually expressed as a mandatory or discretionary and further defined as internal or external Binding Arbritration Correct Ans - A specific type of arbitration where the decision of the arbitrator is final and the two conflicting parties cannot go to court Control limits Correct Ans - A term used to identify the acceptable range of variation of a predictably operating process and, when carted, is calculated at plus or minus three sigma Physical Percent Complete Correct Ans - An estimate expressed as a percent of the amount of work that has been physically completed on an activity or a work breakdown structure component What are the characteristics of a well structured product backlog? Correct Ans - DEEP- Detailed Appropriately, Estimated, Emergent, and Prioritized Stakeholder Correct Ans - 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 Schedule Management Plan Correct Ans - A component of the project or program management plan that establishes the activities for developing, monitoring, and controlling the project or program Schedule Baseline Correct Ans- 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 Plan Resource ManagementCorrect Ans- The process to develop the human resource management plan, which will be used to staff the project

Lessons Learned Correct Ans - The knowledge gained during a project which shows how project events were addressed in the future performance Statistical Independence Correct Ans - A term used when calculating probabilities, in that the occurrence of one event has no effect on the occurrence of another event. To calculate the probability of these types of events, you multiply the probability of the first event by the probability of the other event Preventative Action Correct Ans - An intentional activity that ensures the future performance of the project work is aligned with the project management plan Discrete Effort Correct Ans - An activity that can be planned and measure and that yields a specific output. (Note: Discrete effort is on of three earned value management [EVM] types of activities used to measure work performance) Project Life Cycle Correct Ans - The series of phases that project passes through from its initiation to its closure Organizational Project Management Maturity Correct Ans

• The level of an organization's ability to deliver the desired strategic outcomes in a predictable, controllable, and reliable manner What is velocity? Correct Ans - A historical measure of a team's work capacity over the period of a sprint Estimate at Completion Correct Ans - The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete Control Procurements Correct Ans - The process of monitoring and controlling the contract, ensuring that the seller is performing according to the agreed-upon terms and conditions. Project Coordinator Correct Ans - A position that is similar in nature to a project manager, usually reporting to a senior-level executive, has some decision-making abilities, but lacks the full authority of a project manager. Product Life Cycle Correct Ans - The series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement

Phase Gate Correct Ans - 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. Parametric Estimating Correct Ans - An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters What is the difference between coaching and mentoring? Correct Ans

• Mentoring is for transfer of knowledge and coaching is done to improve performance Lead Correct Ans- The amount of time whereby a successor activity can be advanced with respect to a predecessor activity and is indicated by a negative number Development Approach Correct Ans - Describes the product, service, or result development approach, such as predictive, iterative, agile, or a hybrid model Work Breakdown Structure Correct Ans - A hierarchical decomposition of the total scope of work to be carried out by the project team accomplish the project objectives and create the required deliverables Work Authorization System Correct Ans - Any system employed that contains the procedures of how work will be authorized, and ensures the work is done by the proper individual or group, at the right time and in the proper order Scope Management Plan Correct Ans - A component of the project or program management plan that describes how the scope will be defined, developed, monitored, controlled, and verified Communication Management Plan Correct Ans - A component of the project, program, or portfolio management plan that describes how, when, and by whom information will be administered and disseminated Schedule Percent Complete Correct Ans - An estimate expressed as a percent of the amount of schedule that has been completed on an activity or a work breakdown structure component Time & Materials Contract Correct Ans - A contract type wherein there is an agreed-upon price, usually per hour or per day, for human resources and equipment, and a reimbursement to the seller for any materials they purchase.

Fast Tracking Correct Ans- A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration, by inserting leads and lags, on the critical path Change Control Board Correct Ans - A formally chartered group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project and for recording and communicating such decisions Communications Management Correct Ans - The knowledge area that contains all the processes to ensure proper planning, development, collection, distribution, storage, retrieval and ultimate disposition of project information Selected Sellers Correct Ans - The formally chosen vendors for a procurement Predecessor Activity Correct Ans- An activity that logically comes before a dependent activity in a schedule Variable Sampling Correct Ans - A technique where a deliverable is tested or graded against a scale, to test the degree of conformance Resource Leveling Correct Ans - A technique applied to reduce or eliminate over allocations of resources assigned to project activities, often resulting in an extended project completion date Customer Correct Ans- The recipient of the goods and services, or products of the project McClelland's Need Theory Correct Ans - The theory that hypothesizes that all human beings are driven by one or more of three needs, regardless of age, race, sex, or culture. Those needs all are classified as achievement, affiliation, and power Assumption Correct Ans - Any factor in the planning process that is considered to be true, real, or certain, without proof or demonstration Conflict Correct Ans- A condition of disagreement that exists between two or more stakeholders Qualified Seller List Correct Ans - An organizational process asset that displays potential vendors who have already met specific criteria

Quality vs. Grade Correct Ans - The difference between a product that fulfills requirements versus a category assigned to a products that have the same functional use but different technical characteristics Manage Communications Correct Ans - The process used to execute the communications management plan Procurement Management Plan Correct Ans - The document which includes all of the techniques, contract types, risk related issues and approaches, and make-or-buy methodologies used to procure goods and services Schedule Performance Index Correct Ans - A measure of schedule efficiency expressed as the ratio of earned value to planned value. Formula: EV/PV Co-location Correct Ans - A technique employed to bring together all, or a portion of the members of a project team to one physical location, for any period of time Iteration Burndown Chart Correct Ans - A tool that tracks the work which remains to be completed; and is used to analyze and predict likely variance at completion Control Resources Correct Ans - The process of ensuring the physical resources assigned to the project are available as planned, as well as monitoring the planned versus actual utilization of those resources and taking corrective action as necessary Control Quality Correct Ans - The process of verifying that each deliverable meets the quality standards Rework Correct Ans- An activity performed to correct a nonconforming product This consensus technique involves holding up a number of fingers on one hand to demonstrate the level of agreement (from 0-5)? Correct Ans

• Fist-to-five Phase Correct Ans - A separation or breaking up of a project, usually based upon a technical aspect, that allows the project to be managed more easily and will usually produce one or more deliverables Free Float Correct Ans - The amount of time that a schedule activity can be delayed without delaying the early start date of the

earliest successor