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Thursday, 29 April 2021

100 basic terms and comparisons from PMBOK which a PMP certified project manager must know

A PMP Certified Project Manager should be knowing following comparisons. These comparisons can be asked in a project management interview for PMP certified project managers. I have divided all these terms and comparisons based upon the knowledge areas.

General Introduction

1) Project vs Operation

2) Product Life Cycle vs Project Life Cycle

3) Project Phase vs Phase Gate

4) Development Approach: Predictive vs Adaptive vs Hybrid vs Iterative vs Incremental

5) Portfolio Management vs Program Management vs Project Management

6) Organizational Structure Type: Strong Matrix vs Weak Matrix vs Balanced Matrix

7) Types of PMO: Supportive vs Controlling vs Directive

8) Powers of Project Manager: Referent vs Positional vs Situational vs Coercive vs Ingratiating vs Persuasive

9) Leadership Styles: Laissez-faire vs Servant Leader vs Transactional vs Transformational vs Charismatic vs Interactional 

10) Project Manager vs Project Coordinator vs Project Expeditor

11) PMI Triangle: Technical Project Management vs Strategic and Business Management vs Leadership

12) Code of Ethics and Professional Conduct: Aspirational Standards and Mandatory Standards

Integration Management

13) OPA (Organizational Process Assets) vs EEF (Enterprise Environmental Factors)

14) Business Case vs Benefits Management Plan

15) Configuration Management Plan vs Change Management Plan

16) Project Charter vs Team Charter

17) Assumption log: Assumptions vs Constraints

18) Change Requests: Preventive actions vs Corrective actions vs Defect repair

19) Knowledge Management vs Information Management

20) Explicit Knowledge vs Tacit Knowledge

21) Work/Job Shadowing vs Reverse Shadowing

22) Work Performance Data vs Work Performance Information vs Work Performance Report

23) Work Performance Reports: Status report vs Progress report

24) Payback Period vs Return on Investment (ROI) vs Internal Rate of Return (IRR) vs Discounted Cash Flow vs Net Present Value (NPV) vs Benefit Cost Ratio (BCR)

Scope Management

25) Project Charter vs Project Scope Statement

26) WBS: Work Package vs Planning Package

27) WBS: Work Package vs Activities

28) Scope Baseline vs Schedule Baseline vs Cost Baseline vs Performance Measurement Baseline

29) Validate Scope Process vs Control Quality Process

30) Scope Creep and Gold Plating

31) Product Scope vs Project Scope

32) Inspection vs Audit

33) Verification vs Validation

34) Work Breakdown Structure vs Resource Breakdown Structure vs Risk Breakdown Structure vs Organizational Breakdown Structure

35) Brainstorming vs Brain-writing vs Nominal Group Technique

36) Decision Making: Autocratic vs Multi-criteria vs Voting (Unanimity vs Majority vs Plurality)

Schedule Management

37) Iterative Scheduling vs On-demand Scheduling

38) Precedence Diagramming Method vs Arrow Diagramming Method

39) Finish to Start (FS) vs Finish to Finish (FF) vs Start to Start (SS) vs Start to Finish (SF)

40) Dependencies: Mandatory vs Discretionary vs External vs Internal

41) Schedule Network Diagram: Path Convergence vs Path Divergence

42) Critical Path Method vs Critical Chain Method

43) Early Start vs Early Finish vs Late Start vs Late Finish

44) Forward Pass vs Backward Pass

45) Leads vs Lags

46) Total Float vs Free Float

47) Project Schedule: Gantt charts vs Bar charts vs Milestone charts vs Summary charts

48) Fast-tracking vs Crashing

49) Resource Optimization vs Resource Levelling

50) Project Calendar vs Resource Calendar

51) Contingency Reserve (Known Unknown) vs Management Reserve (Unknown Unknown)

52) Triangular Distribution vs PERT/Beta Distribution

53) Analogous Estimating vs Parametric Estimating vs Three-point Estimating vs Bottom-up Estimating

54) Accuracy and Precision

55) Activity List vs Milestone List

56) Student Syndrome vs Parkinson's Law

Cost Management

57) Rough Order of Magnitude Estimate (-25% to +75%) vs Budgeted Estimate (-10% to +25%) vs Definitive Estimate (-5% to +10%)

58) Planned Value (PV) vs Earned Value (EV) vs Actual Cost (AC)

59) Cost variance (CV = EV - AC) vs Schedule variance (SV = EV - PV)

60) Cost Performance Index (CPI = EV/AC) vs Schedule Performance Index (SPI = EV/PV)

61) Budget at Completion (BAC) vs Estimate at Completion (EAC) vs Variance at Completion (VAC = BAC - EAC)

62) EAC Calculation: EAC forecast for ETC work performed at the budgeted rate (EAC = AC + (BAC – EV)) vs EAC forecast for ETC work performed at the present CPI (EAC = BAC / CPI) vs EAC forecast for ETC work considering both SPI and CPI factors (EAC = AC + [(BAC – EV) / (CPI × SPI)]) vs To-complete performance index (TCPI = Work Remaining / Fund Remaining)

Quality Management

63) Quality vs Grade

64) Attribute Sampling vs Variable Sampling

65) Continual Improvement: Plan-do-check-act (PDCA) vs Total Quality Management(TQM) vs Six Sigma vs Lean Six Sigma

66) Cost of Conformance vs Cost of Non-conformance

67) Cost of Conformance: Prevention cost vs Appraisal cost

68) Cost of Non-Conformance: Internal Failure Cost vs External Failure Cost

69) Control Charts vs Flowcharts vs Histograms vs Cause-and-effect Diagrams vs Matrix Diagrams vs Scatter Diagrams vs Affinity Diagrams vs Mind Mapping

Resource Management

70) Matrix: Responsibility Assignment Matrix (RAM / RACI) vs Probability and Impact Matrix vs Stakeholder Engagement Assessment Matrix

71) Tuckman Ladder: Forming vs Storming vs Norming vs Performing vs Adjourning

72) Co-located Teams vs Virtual Teams

73) Conflict Management: Withdraw/Avoid vs Smooth/Accommodate vs Compromise/Reconcile (Lose-Lose) vs Force/Direct (Win-Lose) vs Collaborate/Problem Solve (Win-Win)

74) Develop Team vs Manage Team

75) Coaching vs Mentoring

Communication Management

76) Push vs Pull communication

77) Verbal vs Non-verbal communication (Paralinguistic, Vocal inflection, Pitch, Tone)

Risk Management

78) Risks vs Issues

79) Event vs Non-event Risks

80) Variability Risk vs Ambiguity Risk vs Emergent Risks (Unknowable Unknowns)

81) Secondary risk vs Residual risk

82) Risk Register vs Risk Report

83) Opportunities (Positive Risks) vs Threats (Negative Risks)

84) Strategies for Opportunities: Exploit vs Enhance vs Accept vs Share

85) Strategies for Threats: Avoid vs Mitigate vs Accept vs Transfer

86) Active Risk Acceptance vs Passive Risk Acceptance

87) Qualitative vs Quantitative Risk Analysis

88) Quantitative Risk Analysis: Simulations (Monte Carlo Analysis) vs Sensitivity Analysis (Tornado Diagrams) vs Decision Tree Analysis vs Influence Diagrams

89) Prompt Lists: PESTLE (political, economic, social, technological, legal, environmental) vs TECOP (technical, environmental, commercial, operational, political) vs VUCA (volatility, uncertainty, complexity, ambiguity)

90) Risk Assessment Parameters: Urgency vs Proximity vs Dormancy vs Propinquity vs Detectability

Procurement Management

91) Contract Types:  Fixed Price vs Cost Reimbursable vs Time and Material

92) Fixed Price Contracts: Firm Fixed Price (FFP) vs Fixed Price Incentive Fee (FPIF) vs Fixed Price with Economic Price Adjustments (FPEPA)

93) Cost-reimbursable Contracts: Cost plus fixed fee (CPFF) vs Cost plus incentive fee (CPIF) vs Cost plus award fee (CPAF)

94) Bid Documents: RFI (Request for Information) vs RFQ (Request for Quotation) vs RFP (Request for Proposal)

95) Scope Statement vs Statement of Work (SOW) vs Terms of Reference (TOR)

96) Make vs Buy Analysis

97) Selecting a Seller vs Awarding a Contract

98) Claims Administration: Claims vs Disputes vs Appeals

Stakeholder Management

99) Stakeholder Analysis: Power/Interest vs Power/Influence vs Impact/Influence

100) Engagement level of stakeholders: Unaware vs Resistant vs Neutral vs Supportive vs Leading

About the Author

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