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PMP Exam Prep Simplified - Definitions – 2024 LATEST UPDATE!!! $10.99
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PMP Exam Prep Simplified - Definitions – 2024 LATEST UPDATE!!!
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Acceptance Criteria - ANSWER A set of conditions that are met before deliverables are accepted by the customers or sponsors. Activity - ANSWER A distinct, scheduled portion of work performed during the course of a project. Actual Cost (AC) - ANSWER The actual cost incurred for the work perfor...

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  • October 7, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • pmp
  • pmp exam prep simplified definitions 2024 late
  • acceptance criteria answer a set of conditions t
  • activity answer a distinct scheduled portion of

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  • PMP

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PMP Exam Prep Simplified - Definitions –
2024 LATEST UPDATE!!!
Acceptance Criteria - ANSWER A set of conditions that are met before deliverables are accepted by the
customers or sponsors.



Activity - ANSWER A distinct, scheduled portion of work performed during the course of a project.



Actual Cost (AC) - ANSWER The actual cost incurred for the work performed on an activity during a
specific time period.



Analogous Estimating - ANSWER A technique for estimating the duration or cost of an activity or a
project using historical data from a similar activity or project.



Assumption - ANSWER A factor in the planning process that is considered to be true, real, or certain,
without proof or demonstration.



Backward Pass - ANSWER 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.



Baseline - ANSWER The accepted version of work product that can be changed using formal change
control processes and is used as the basis for comparison to actual results.



Bottom-Up Estimating - ANSWER A method of estimating project duration or cost by aggregating the
estimates of the lower-level components of the work breakdown structure (WBS).



Budget at Completion (BAC) - ANSWER The amount of all budgets established for the work to be
performed.



Change Control - ANSWER A process whereby modifications to documents, deliverables, or baselines
associated with the project are identified, documented, approved, or rejected.

, Change Control Board - ANSWER A formally commissioned group responsible for reviewing, assessing,
approving, deferring, or rejecting changes to the project, and for recording and communicating such
decisions.



Change Control System - ANSWER A set of procedures that describes how modifications to the project
deliverables and documentation are managed and controlled.



Change Request - ANSWER A formal proposal to modify any document, deliverable, or baseline in the
project management plan.



Communications Management Plan - ANSWER a component of the project management plan that
describes how, when, and by whom information about the project will be administered and distributed



Configuration Management System - ANSWER A collection of procedures used to track project artifacts
and monitor and control changes to these artifacts.



Constraint - ANSWER A restrictive feature that affects the execution of a project.



Contigency Reserves - ANSWER Time or money assigned in the schedule or cost baseline form known
risks with response strategies.



Corrective Action - ANSWER A planned activity that restores the performance of the project work with
the project management plan.



Cost Baseline - ANSWER The approved version of work package cost estimates and contingency reserve
that can be changed using formal change control procedures.



Cost Management Plan - ANSWER A component of a project or program management plan that
describes how costs will be planned and controlled.



Cost Performance Index (CPI) - ANSWER A measure of the cost efficiency of budgeted resources
expressed as the ratio of earned value to actual cost.

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