Project Management Fundamentals Flashcards

A project manager is using fast-tracking to compress the schedule. This means:

Answer: Performing activities in parallel that were originally sequential

Fast-tracking overlaps activities that would normally be done in sequence, which can reduce duration but increases risk.

What is the difference between a risk and an issue in project management?

Answer: A risk is an uncertain future event; an issue is a current problem that has already occurred

A risk is a potential future event with uncertainty; once it occurs and requires action, it becomes an issue.

Which stakeholder engagement level means a stakeholder is aware of the project but resistant to change?

Answer: Resistant

The Resistant engagement level describes stakeholders who know about the project but actively oppose it or the changes it brings.

When is the cost of making changes LOWEST during a project lifecycle?

Answer: During the initiating and planning phases

Changes cost significantly less early in the project because little work has been done and fewer resources have been committed.

A project manager wants to identify which risks deserve the most attention. Which technique produces a Heat Map or Probability-Impact Matrix?

Answer: Qualitative risk analysis

Qualitative risk analysis uses a Probability and Impact Matrix to prioritize risks based on their likelihood and potential effect.

What does the term 'gold plating' mean in project management?

Answer: Adding extra features beyond what the customer requested

Gold plating occurs when team members add unrequested features or enhancements, consuming resources without authorized scope.

Which communication model component explains why the same message can be interpreted differently by different people?

Answer: Decoding

Decoding is the receiver's process of translating the message, which is filtered by their personal knowledge, culture, and experience.