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A project ______ is an uncertainty that can have a negative or positive effect on meeting project objectives.
risk
A _____ for a project is the series of activities that determine the earliest time by which the project can be completed.
critical path
A ______ is a hierarchy of potential risk categories for a project.
Risk breakdown structure (RBS)
A ______ is schematic display of the logical relationships among project activities and their sequencing.
Network diagram
Duration estimates can be provided as a discrete number, a range, or as a ______.
three-point estimate
Risk ______ refers to reducing the impact of a risk event by reducingt he probability of its occurrence.
mitigation
Potential problems that might occur on the project and how they might impede project success are _______ risks.
negative
Subdividing the project deliverables into smaller pieces is known as _______.
decomposition
Creating the ______ involves subdividing he major project deliverables into smaller, more manageable components.
work breakdown structure (WBS)
Tasks in a WBS that are decomposed into smaller tasks are called ______ tasks.
summary
A _______ is a list of risks that are low priority, but still identified as potential risks.
watch list
The ______ is an estimate of the value of the physical work actually completed.
earned value (EV)
A ______ is a task at the lowest level of the WBS.
work package or item
The term ______ describes a produc produced as part of a project.
deliverable
______ refers to the process of developing a working replica of the system of some aspect of the system.
prototyping
A _______ on a project is a significant event that normally has no duration
milestone
The amount of time an activity can be delayed without delaying the early start date of any immediately following activities is known as a ______.
free slack
The ______ for an activity is the latest possible time an activity might begin without delaying he project finish date.
late start date
______ is the amount of time an activity can be delayed from its early start wuthout dealying the planned project finish date.
total slack
Scope creep refers to:
the tendency for project scope to keep getting bigger and bigger
______ refers to the difference between planned and actual performance.
variance
Cost variance is:
the earned value minus the actual cost
Indirect costs are:
not directly related to the products of services of a project
Schedule variance is:
the earned value minus the planned value
The cost performance index (CPI):
can be used to estimate the projected cost of completing the project
The budget is one of the three values of earned value management ans is also known as _______.
planned value
______ is a method for eterinig the estimated annual costs and benefits for a project.
cash flow analysis
______ involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance.
determining the budget
______ are those costs that are difficult to measure in monetary terms.
intangible costs
______ includes the processes required to ensure that a project team completes a project within an approved budget.
project cost management
Which of the following is true of the schedule performance index (SPI)?
It can be used ti estimate the projected time to complete the project
Which of the following is true of earned value?
it is an estimate of the value of the physical work actually completed.
variances are calculated by subtracting the actual cost from ______.
earned value
Knowledge areas for PMs:
integration, scope, time, cost, quality, communication, human resources, risk, procurement, stakeholder management
Cost management processes:
planning, estimating, budget, control
Scope management processes:
planning, collecting, defining, creating a WBS, validating, and controling
SDCL
initiate, plan, execute, monitor/control, closeout

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