280 Free PMP Vocabulary Questions to Pass the PMP on the First Try

Attempt 280 free PMP vocabulary questions to pass the PMP on the first try. Those free PMP exam prep questions help you approach the PMP exam with more confidence by listing essential vocabulary with exact definitions in accordance with the PMBOK – for instance, Acceptance, Acquire Project Team, Activity / Schedule Activity, Activity Attributes, Activity List, Activity on Arrow (AOA) / Precedence Diagramming Method (PDM), among others. There are total 4 pages, and you just need hit ‘next’ to go on with your practice on the next page. Page 4 puts an end to this test, and ‘submit’ button is located in this page. Just click on it to have your results automatically checked and scored. Overall, it’s good and for fee. It helps someone to pass PMP on the first attempt, hope this helps you, too.

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280 Free PMP Vocabulary Questions to Pass the PMP on the First Try - Page 1

Backward Pass

A cost, usually tracked as part of a contract, that is not expended directly for the project's benefit. Indirect costs include such things as overhead and management expense that may be shared by things other than a single project. How indirect costs are tracking and accounted for varies depending on the organization or the contract.
The document that creates the project
A calendar that is specific to this project, factoring in the constraints of all participating organizations and geographical and demographic regions. Shows working days and non-working days.
A technique used to calculate slack, or float, that begins with the last node of a project network diagram and logically works backward to the start. Using the backward pass technique, each schedule activity's lates start and late finish dates are determined.

Risk Management Plan

One of the competency domains within project management. The 42 processes of project management are grouped into nine knowledge areas.
The planning process for creating the work breakdown structure. This process decomposes all of the work necessary to perform the project and organizes it into the work breakdown structure (WBS). The WBS dictionary, which provides expanded information ont he WBS, is also an output of this process.
The component of the project plan that shows how subsequent risk processes and activities will be performed
The process that reviews the risks that have and have not occurred on the project and evaluates how the execution of the risk management plan lines up to the plan itself.

Total Float

The sum of all time that an individual activity can slip from its early start date without affecting the finish date of the project.
The sum of all project costs expended associated with achieving quality. Cost of Quality includes a complete analysis that includes planning, execution, control, the costs of potential alternatives, and the costs of quality failure.
The planning process where the individual cost estimates are compiled into the cost performance baseline. The cost baseline is a time-phased representation of costs so that stakeholders can see what funds will be needed and when they will be needed.
The number of possible formal or informal paths of communication on a project. The concept of communication channels is particularly helpful in understanding how the addition a small number of people to a project team can complicate the project manager's job of controlling communications. The formula for calculating communication channels is: n (n-1)/2 where n=the number of people in the communication model.

Monitor and Control Project Work

A high-level integration process used to ensure that the project work being performed matches the plan. If the results do not line up with the plan, either the way the work is being performed is altered, or the plan is changed to reflect a more realistic scenario.
Any action taken to bring future results in line with the plan. Corrective action may change the plan, or the way the plan is executed.
A technique that places a premium on understanding the underlying reasons behind a problem rather than focusing on the problem or symptom. Root cause analysis is used in quality management as a tool to prevent future defects.
People, organizations, or materials that can be used on a project.

Work Packages

The lowest hierarchical level of the work breakdown structure. Work packages represent deliverables on the project and should be small enough to estimate for cost and duration.
Lowest level sub-tasks in the work breakdown structure
The document that creates the project
Objective measures for acceptance or judging quality.

Scatter Diagram

Anything done to make a product or service conform to specifications
A chart that plots events against a dependent and an independent variable to identify correlation and spot trends. Scatter diagrams are most often used in quality management, specifically in the Perform Quality Control process.
The process that creates the risk management plan. Plan Risk Management focuses on planning for the five subsequent risk processes.
A chart that relates work packages to the parties in the organization responsible for their completion.

Template

A response to an unplanned risk event
A document that serves as a starting point for a particular output
A point at which two or more network paths converge
A difference between the plan and the executed results.

Close Procurements

One of two closing processes that focuses on making sure the procurement is completed, the product or service is accepted, and the contract is closed. Even if a contract is terminated early, the process of Close Procurements should be carried out.
The component of the project plan that is used to manage one or more contracts that exist on the project.
One of the competency domains within project management. The 42 processes of project management are grouped into nine knowledge areas.
The planning process that estimates the material and human resources needed to perform a schedule activity to completion. This process may be performed before, after, or in parallel with the process of Sequence Activities.

Fixed-Price Contract (aka Lump Sum)

Something needed or used by a process to create the outputs for that process
A document that serves as a starting point for a particular output
The organization responsible for executing the project
A contract that specifies a fixed price for the deliverable paid by the buter to the seller.

Defect

An issue when the project's product, service, or result does not match the documented scope. Defects are often costly and require rework.
Any factor outside of the project's control that influences the project. This could include organizational attitudes, culture, reporting relationships, government, the economy, laws, etc.
A guide to the Project Management Body of Knowledge
Anything done to make a product or service conform to specifications

Consensus

A group decision technique where the group agrees to support an outcome, even if the individuals do not all agree with the decision.
A statistical forecasting technique to predict results related to scope, time or cost by plotting a trend line based on previous performance. Run charts are often used in trend analysis to create trend lines.
The risk management technique used to compute large numbers of possible scenarios and identify areas of high risk. Monte Carlo analysis almost always performed by computer due to the high numbers of scenarios considered. The output is a range of possible schedule due dates and costs.
A group decision technique where a simply majority of votes is enough to make a decision

Operations

A document that serves as a starting point for a particular output
Ongoing activities needed to continue business. Operations are not considered part of a project, but they often are considered part of a program.
An organization of the 42 processes of PM by overall overall function. Every process is assigned to a single process group according to whether its purpose is initiating, planning, executing, monitoring and controlling, or closing the project.
Applying additional resources to one or more activities in order to complete the work more quickly. Crashing usually increases cost more than risk and can lead to the law of diminishing returns as resource allocation passes optimal levels. Compare with Fast Tracking.

Monte Carlo Analysis

A planning technique that does not seek to answer all questions or plan all project activities at the beginning. Instead, only imminent project activities are planned in detail, while activities further in the future as planned at a higher level.
The cost performance baseline is a time-phased plan for when funds will be disbursed on a project. It helps the performing organization anticipate cash flow needs for the project life-cycle. Accuracy is dependent upon a well-defined project scope and schedule, although a summary-level cost baseline is typically supplied with the project charter before the scope and schedule are fully defined.
The risk management technique used to compute large numbers of possible scenarios and identify areas of high risk. Monte Carlo analysis almost always performed by computer due to the high numbers of scenarios considered. The output is a range of possible schedule due dates and costs.
A set of rules to be followed in order to achieve a desired result

Quality

Anything done to make a product or service conform to specifications
Any unknown on the project. Risks may be positive or negative.
Conformance to specifications
Brainstormed ideas are voted upon and sorted by priority

Communication

The act of approving the deliverables. Acceptance is usually performed by the project manager and the customer or sponsor at the end of the project, project phases, or at predefined milestones. Acceptance of the product, service or result is formal.
The organization responsible for executing the project
The act of accurately encoding, sending, receiving, accurately decoding, and verifying a message. Communication between a sender and a receiver may be formal, informal, oral, or written.
One of the five process groups. 8 of the 42 processes are executing. All executing processes and activities focus on carrying out some aspect of the project plan, and on most projects, the majority of project costs are expended during executing processes.

Progressive Elaboration

People, organizations, or materials that can be used on a project.
An executing process focused on getting the right people to work on the project at the right time. Acquire Project Team is executed according to the human resource plan.
A difference between the plan and the executed results.
An iterative approach where planning occurs in cycles rather than up front. Projects which use progressive elaboration typically do some planning, some execution, some monitoring and controlling, and then repeat that cycle.

Three-Point Estimate / PERT Estimate

A technique used to calculate slack, or float, that begins with the last node of a project network diagram and logically works backward to the start. Using the backward pass technique, each schedule activity's lates start and late finish dates are determined.
A technique to gather ideas that involves getting ideas from many participants in a rapid-fire and non-judgmental environment. Ideas are not evaluated until after they all ben gathered.
A technique for estimating duration or cost. The three-point estimate uses a pessimistic, optimistic, and realistic estimate to calculate. Estimate = (P + 4R + O)/6
A technique for calculating the early start and early finish dates of schedule activities. The forward pass is part of the critical path method and is paired with a backward pass to determine activity and schedule float and the critical path.

Root Cause Analysis

A technique that places a premium on understanding the underlying reasons behind a problem rather than focusing on the problem or symptom. Root cause analysis is used in quality management as a tool to prevent future defects.
A high-level integration process used to ensure that the project work being performed matches the plan. If the results do not line up with the plan, either the way the work is being performed is altered, or the plan is changed to reflect a more realistic scenario.
A chart that plots events against a dependent and an independent variable to identify correlation and spot trends. Scatter diagrams are most often used in quality management, specifically in the Perform Quality Control process.
A technique for estimating duration or cost. The three-point estimate uses a pessimistic, optimistic, and realistic estimate to calculate. Estimate = (P + 4R + O)/6

Product Scope Description

The document that formally starts the project. It is created in the Develop Project Charter process. It authorizes the project manager to expend organizational resources in order to accomplish the project objective.
A contract that specifies a fixed price for the deliverable paid by the buter to the seller.
The document that creates the project
A document that describes the characteristic of the project's product. The product scope description is progressively elaborated. Its main purpose is to help create a common understanding of the product among stakeholders.

Pareto Chart

A column chart, or histogram, used in quality management to show problems and help the team to know where to focus their efforts based on frequency of the problem.
The component of the project plan that is used to manage one or more contracts that exist on the project.
The upper and lower limits, used in statistical process control, that determine whether or not a process is in control. Upper and lower control limits are set at prescribed intervals and measured in standard deviations, above and below the mean. As long as the data points fall between the control limits, the process is in control.
A column chart that graphically represents when a resource will be in use on the project. Resource histograms provide a good visual representation of how project resources will be used over time.

WBS Dictionary

A document that serves as a starting point for a particular output
The document that formally starts the project. It is created in the Develop Project Charter process. It authorizes the project manager to expend organizational resources in order to accomplish the project objective.
Companion document to the WBS that lists time and cost estimates, the person or group responsible for the deliverable, due dates, further descriptions, etc.
The planning process that estimates the material and human resources needed to perform a schedule activity to completion. This process may be performed before, after, or in parallel with the process of Sequence Activities.

Resources

The document that creates the project
The amount of work needed to complete an activity
People, organizations, or materials that can be used on a project.
Something coming out of a process

Plurality

The cost accounting technique of measuring work completed (earned value) against the plan (planned value). There are various calculations to show past performance and to predict future performance.
A group decision technique where the largest block of individuals decides the outcome. Plurality differs from Majority in that plurality does not require more than 50% to be in agreement.
A statistical forecasting technique to predict results related to scope, time or cost by plotting a trend line based on previous performance. Run charts are often used in trend analysis to create trend lines.
A group decision technique where the group agrees to support an outcome, even if the individuals do not all agree with the decision.

Functional Organization

A very common type of organization that has strong (vertical) departments, organized around function or expertise. In a functional organization, the functional manager generally has more organizational power than the project manager, and project management may struggle to receive significant support, recognition, or authority.
A graphical, logical representation of a sequence. In project management, flowcharts are most often used in the area of quality to determine how one set of inputs may lead to one more outcomes.
A set of rules to be followed in order to achieve a desired result
A chart that shows the reporting relationships among a group of people working for an organization or for a project.

Monitor and Control Risks

The performance the project would need to achieve to end on target. In this case, a lower index is good, since it means that you could underperform and still meet your target, while an index of greater than one is bad since you are essentially saying that you would need to overperform against the plan in order to meet your goals or targets.
A difference between the plan and the executed results.
A warning sign that a risk has occurred, is occurring, or is about to occur.
The process that reviews the risks that have and have not occurred on the project and evaluates how the execution of the risk management plan lines up to the plan itself.

Project Scope

All of the work to be performed on the project. The project scope is documented in the project scope statement and the WBS.
The person responsible for funding the project. The sponsor is typically someone from senior management and may or may not be the same person as the customer
Something needed or used by a process to create the outputs for that process
A grid where the work packages are represented in the rows, and the resources are represented in the columns.

Control Chart

A document that serves as a starting point for a particular output
A specialized chart used in statistical process control to help determine whether or not a process is in control. Control charts are often associated with control limits, specification limits, means, standard deviations, and the rule of seven.
The technique that uses the analysis of logical relationships to create Activity on Node diagrams.
A series of schedule activities that have a relationship that carries through from the project's start to the finish

Duration

The date work on a schedule activity should begin according to the plan
The amount of time a schedule activity could be delated without impacting the finish date of the project
Ongoing activities needed to continue business. Operations are not considered part of a project, but they often are considered part of a program.
The amount of time needed to complete a schedule activity or work package. Duration is different from effort, since duration is concerned with calendar time, while effort is concerned with work hours. Ex: A schedule activity that takes 8 workers 5 days would require 40 days of effort, but may be possible to complete in the duration of only one workweek. Durations are estimated during the Estimate Activity Durations process.

Exit Gate / Kill Point

A logical point at the end of a project phase, where an independent party reviews that phase's deliverables to determine whether or not thye were completed successfully and the subsequent project phase should be initiated. Exit gates are also commonly referred to as stage gates, phase gates or kill points.
An initiating process where the project charter is produced. This process occurs very early in the project, but also may take place at the beginning of each project phase. The output of this process formally authorizes the project to begin, names the project manager, and provides resources for the project.
A grouping of project activities. Many projects are divided into two or more phases in order to provide a point where the deliverables can be evaluated. Phases are separated by exit gates where someone who does not directly work with the project evaluates the deliverables to determine whether or not the next phase is initiated.
The processes that take place early in a project or project phase. Initiating processes are involved with starting (chartering) the project or phase and the identification of stakeholders.

Sponsor

The process to monitor and control project costs to ensure they align with the plan. Control Costs is proactive to anticipate change and risk factors, as well as reactive to actual factors that affect project costs.
The risk response technique of shifting the risk to another entity, usually a subcontractor or a vendor specializing in that type of risk. Firm fixed price contracts would be one type of risk transference, as would be purchasing an insurance policy that protected the project.
The person responsible for funding the project. The sponsor is typically someone from senior management and may or may not be the same person as the customer
The executing process of directing the project team to complete the work of the project plan, monitoring their performance, and working to improve performance and resolve issues where necessary.

Change Control

A part of the product, or the product itself, that is presented to the customer or stakeholders for acceptance.
Also known as reserve, contingency is padding time and/or money to the project's schedule or budget to help manage overruns. Contingency may or may not be communicated to project stakeholders, and it may be added at an activity level, at any node on the WBS, or even at an overall project level.
A part of Activity on Arrow (AOA) project network diagrams where a "false" schedule activity is assigned a duration of 0. A dummy activity, represented as a dashed line between two circular nodes, is used to create logical relationships.
Deliberately managing change to a project, whether that change is to the scope, cost, schedule, or quality baseline. In change control, changes requests go through a formal process before they are approved or rejected.

Plan Procurements

The primary deliverable of the project. Projects may produce products, services, or results, and these must be accepted by the customer or sponsor.
The planning process where the project team performs make-or-buy analysis and decides what goods and services will be created or performed internally and what will be procured from external sources. Additionally, the procurement documents are created, and potential sellers are identified.
A guide to the Project Management Body of Knowledge
The planning process that determines how each identified risk will be mitigated, avoided, transferred, shared, exploited, enhanced, or accepted.

Opportunity Cost

The value of a project that was not performed so that another one could be. Opportunity cost is typically calculated by taking the value of the best alternative that was passed up.
The difference between what was budgeted and what is forecasted to have been spent. The VAC is calculated by subtracting the estimate at complete from the budgeted at completed, or VAC = BAC - EAC
The closing process that administratively closes a phase or the overall project. In Close Project or Phase, all final project documentation and project files are completed and lessons learned are documented.
The plan for how project costs will be measured, monitored, and controlled. The cost management plan is created in the Develop Project Management Plan process.

Monitoring and Controlling Processes

The planning process that determines how the project will be organized in terms of the personnel. Develop Human Resource Plan determines the project roles, the project organizational chart, and the responsibility assignment matrix. The most significant output of this process is the human resource plan, which is a primary component of the project plan.
One of the five process groups. Monitoring and controlling processes constitute 10 of the overall 42 processes which generally measure the work results against the plan and make adjustments or take corrective action where variances exist.
The process to monitor and control project costs to ensure they align with the plan. Control Costs is proactive to anticipate change and risk factors, as well as reactive to actual factors that affect project costs.
The initiating process where all of the groups or people who will be considered on this project are identified. The resulting stakeholder register documents their names, their interest, and their involvement on the project.

Change Control System

The document containing all identified risks relevant to the project. The risk register contains information about each risk and is updated throughout the project.
The organization responsible for executing the project
The document that creates the project
The procedures for evaluating and managing requested changes to the project. This system varies from project to project and from organization to organization.

Methodology

A group of related projects, managed together, usually to realize some common efficiencies. Programs may also include ongoing operations, which individual projects do not have.
The date work on a schedule activity should begin according to the plan
A set of steps to manage a project. Methodologies are an organization's specific implementation of the process of project management. They typically include checklists, procedures, and document templates.
Any unknown on the project. Risks may be positive or negative.

Product Life Cycle

The different market phases of a project. Not to be confused with project life cycle.
The document that creates the project
The organization responsible for executing the project
People, organizations, or materials that can be used on a project.

Estimate Activity Durations

The component of the project plan that shows how subsequent risk processes and activities will be performed
The planning process that estimates how long a schedule activity should take. Activity durations are derived through a variety of methods, but are generally a function of the amount of work to be done, the resources applied to the task, expert judgment, and historical information.
The planning process that determines how each identified risk will be mitigated, avoided, transferred, shared, exploited, enhanced, or accepted.
The planning process where quality targets are identified. Plan Quality also determines how these targets will be met and spells out how the other two quality processes (Perform Quality Assurance and Perform Quality Control) will be carried out.

Critical Path Method

The executing process that focuses on the overall quality activities to ensure that all of the plans are being followed and that the project meets the quality requirements. Contrast with "Perform Quality Control" below.
The amount of time needed to complete a schedule activity or work package. Duration is different from effort, since duration is concerned with calendar time, while effort is concerned with work hours. Ex: A schedule activity that takes 8 workers 5 days would require 40 days of effort, but may be possible to complete in the duration of only one workweek. Durations are estimated during the Estimate Activity Durations process.
An activity that summarizes other schedule activities. While the project execution occurs at the lower (sub) activity level, hammock activities are used for tracking and reporting purposes. Most times, a hammock activity groups activities that would not be related through the WBS.
A technique of schedule analysis, where the schedule activities are evaluated to determine the float (or slack) for each activity and the overall schedule. The critical path method uses forward pass, backward pass, and float analysis to identify all network paths, including the critical path. The reason this technique is known as the critical path method is that the path of least flexibility and highest risk (ie the critical path) is identified so that it may be managed appropriately.

Create WBS

The planning process that estimates the material and human resources needed to perform a schedule activity to completion. This process may be performed before, after, or in parallel with the process of Sequence Activities.
The planning process of anticipating all of the risks that could happen on the project. Common tools used to facilitate risk identification include checklist analysis, diagramming techniques, SWOT analysis, and expert judgment.
The executing process of directing the project team to complete the work of the project plan, monitoring their performance, and working to improve performance and resolve issues where necessary.
The planning process for creating the work breakdown structure. This process decomposes all of the work necessary to perform the project and organizes it into the work breakdown structure (WBS). The WBS dictionary, which provides expanded information ont he WBS, is also an output of this process.

Manage Project Team

The planning process that determines how the project will be organized in terms of the personnel. Develop Human Resource Plan determines the project roles, the project organizational chart, and the responsibility assignment matrix. The most significant output of this process is the human resource plan, which is a primary component of the project plan.
The planning process that analyzes the project, the stakeholders, and the communications needs of the project and creates the communications management plan.
The planning process for creating the work breakdown structure. This process decomposes all of the work necessary to perform the project and organizes it into the work breakdown structure (WBS). The WBS dictionary, which provides expanded information ont he WBS, is also an output of this process.
The executing process of directing the project team to complete the work of the project plan, monitoring their performance, and working to improve performance and resolve issues where necessary.

Cost Variance (CV)

Is the earned value minus the actual costs, expressed as CV = EV-AC. Cost variance is useful to represent how project spending is tracking against the plan. A positive cost variance is generally considered to be a good thing, and a negative cost variance indicates overspending and is considered to be undesirable.
The list of all schedule activities to be performed, derived by decomposing the work packages into their schedule components. The activity list is a primary output of the Define Activities process.
The document that creates the project
A warning sign that a risk has occurred, is occurring, or is about to occur.

Resource Breakdown Structure (RBS)

A point at which two or more network paths converge
The part a person will play on the project
A graphical organizational chart that groups resources together by their function
The organization responsible for executing the project

Activity List

The latest possible date a schedule activity can finish without impacting the critical path, assuming all estimated durations are accurate. The late finish (LF) is calculated as follows: LF = EF + float, or by performing a backward pass on the project network diagram.
The cost accounting technique of measuring work completed (earned value) against the plan (planned value). There are various calculations to show past performance and to predict future performance.
The list of all schedule activities to be performed, derived by decomposing the work packages into their schedule components. The activity list is a primary output of the Define Activities process.
The plan for how the project schedule will be measured, monitored, and controlled. The schedule management plan is created in the Develop Project Management Plan process.

Value Engineering

The practice of trying to get more out of the project in every way. The goal of value engineering is to decrease costs, increase the bottom line, improve quality, and shorten the schedule, without negatively affecting the scope.
The plan which specifies how the quality policy will be implemented on a project
The person responsible for funding the project. The sponsor is typically someone from senior management and may or may not be the same person as the customer
The process group containing all of the processes associated with planning or creating a plan

Functional Manager

A manager of a department or functional group within an organization.
A point at which two or more network paths converge
A schedule activity
A time-limited undertaking to deliver a unique product, service, or outcome.

Crashing

Applying additional resources to one or more activities in order to complete the work more quickly. Crashing usually increases cost more than risk and can lead to the law of diminishing returns as resource allocation passes optimal levels. Compare with Fast Tracking.
A monitoring and controlling process that ensures that changes to the scope baseline are properly controlled.
A monitoring and controlling process where the planned schedule is compared with the work performance information. If the project is ahead of schedule or behind schedule, corrective action in the form of changes requests or updates to the plan may be necessary.
A time-limited undertaking to deliver a unique product, service, or outcome.

Control Account Plan (CAP)

The plan for how the project schedule will be measured, monitored, and controlled. The schedule management plan is created in the Develop Project Management Plan process.
The monitoring and controlling process in communications management that creates the performance reports. These reports distribute information that show how the project is progressing against the plan.
The date work on a schedule activity should begin according to the plan
The plan for how a given control account will be performed and measured. Since each control account is a division of the overall project, each CAP functions essentially like a mini project plan for that division of work.

Request for Information (RFI)

A formal document, issued by the buyer to potential sellers. Potential sellers respond to the request for proposal with a proposal for how they would satisfy the buyer's request. The response should answer all of the questions asked by the buyer in the RFP.
Issued by a buyer to potential sellers to supply information relevant to the procurement process
Something needed or used by a process to create the outputs for that process
A specialized chart used in statistical process control to help determine whether or not a process is in control. Control charts are often associated with control limits, specification limits, means, standard deviations, and the rule of seven.

Portfolio

An initiating process where the project charter is produced. This process occurs very early in the project, but also may take place at the beginning of each project phase. The output of this process formally authorizes the project to begin, names the project manager, and provides resources for the project.
Ongoing activities needed to continue business. Operations are not considered part of a project, but they often are considered part of a program.
A group of projects intended to achieve a business result. A portfolio usually refers to all of the projects in an organization.
A group of project phases specified by an organization's project management methodology. The project life cycle is made of up of all of the project phases, viewed as a whole.

Quality Management Plan

A point at which two or more network paths converge
Brainstormed ideas are voted upon and sorted by priority
The plan which specifies how the quality policy will be implemented on a project
The date work on a schedule activity should begin according to the plan

War Room

The forecasted amount a project should cost at its end, factoring in all of the performance metrics that have occurred at this point in the project. This is compared to the Budgeted at Complete (BAC).
The formally documented information the team has acquired during execution of the project. Lessons learned specifically focus on variances in the project and document how the team would plan or execute differently if they had a specific component of the project to perform again.
A guide to the Project Management Body of Knowledge
A centralized room for project planning that may also be used for execution and other project activities. A common use of the war room is to co-locate the team for a period of time.

Resource Histogram

A calendar that shows the dates project resources will be in use on the project and days when they will not be used. This facilitates making these resources available to other projects or needs within the organization.
The part a person will play on the project
A column chart that graphically represents when a resource will be in use on the project. Resource histograms provide a good visual representation of how project resources will be used over time.
The cost performance baseline is a time-phased plan for when funds will be disbursed on a project. It helps the performing organization anticipate cash flow needs for the project life-cycle. Accuracy is dependent upon a well-defined project scope and schedule, although a summary-level cost baseline is typically supplied with the project charter before the scope and schedule are fully defined.

Historical Information

Objective measures for acceptance or judging quality.
The different market phases of a project. Not to be confused with project life cycle.
People, organizations, or materials that can be used on a project.
Any information from previous projects that has been archived by the performing organization. Historical information can be used to help evaluate future project decisions.

Cost Management Plan

The plan for how project costs will be measured, monitored, and controlled. The cost management plan is created in the Develop Project Management Plan process.
The planning process where all risks are analyzed and assigned a value as it relates to the risk's impact on the project. Risks are typically quantified in terms of potential impact on budget or schedule so they may be weighed against the risk tolerance of the key stakeholders.
The forecasted amount a project should cost at its end, factoring in all of the performance metrics that have occurred at this point in the project. This is compared to the Budgeted at Complete (BAC).
Any unknown on the project. Risks may be positive or negative.

Develop Schedule

The planning process of Sequence Activities takes the schedule activities from the activity list and sequences them according the other in which they must be performed.
The executing process that focuses on the overall quality activities to ensure that all of the plans are being followed and that the project meets the quality requirements. Contrast with "Perform Quality Control" below.
The initiating process where all of the groups or people who will be considered on this project are identified. The resulting stakeholder register documents their names, their interest, and their involvement on the project.
The planning process where the activities are arranged on a calendar to create a schedule. The project schedule may take several forms and have varying degrees of detail.

Variance at Complete (VAC)

Something needed or used by a process to create the outputs for that process
The date a schedule activity should be finished if that activity's work begins on time and is completed according to plan.
The difference between what was budgeted and what is forecasted to have been spent. The VAC is calculated by subtracting the estimate at complete from the budgeted at completed, or VAC = BAC - EAC
The document that formally starts the project. It is created in the Develop Project Charter process. It authorizes the project manager to expend organizational resources in order to accomplish the project objective.

Project Calendar

Used for schedule activities on project network diagrams, the early start is the earliest date possible that an activity could be completed given all of the constraints, durations, and logical relationships that exist within the schedule.
A calendar that is specific to this project, factoring in the constraints of all participating organizations and geographical and demographic regions. Shows working days and non-working days.
Taking steps to eliminate the project risk. Moving a project site from a potentially hazardous location would be an example of risk avoidance.
Any unknown on the project. Risks may be positive or negative.

Claim

An issue with performance against the contract brought by one party against another. Claims must be resolved before the contract can be properly closed out.
Any unknown on the project. Risks may be positive or negative.
A group with formal responsibility for evaluating project change requests. The change control board makes up a part of the overall change control system.
A requirement that must be followed, issued by an authority

Dependency / Logical Relationship

A risk management strategy for making a positive uncertainty even better for the project. Ex: Labor is cheaper overseas so move the entire project over there.
Companion document to the WBS that lists time and cost estimates, the person or group responsible for the deliverable, due dates, further descriptions, etc.
A relationship between two or mot activities where one activity must be started or completed before another related activity may be started or completed. A Dependency may be mandatory, discretionary, or external to the organization. It is also known as a logical relationship between nodes.
The planning process of estimating the costs of activities which have not been performed. Estimate Costs is performed after the scope has been defined, the activities have been decomposed, and the duration and resources for each activity have been estimated. The cost estimates are later mapped back to the WBS and are used to create the budget.

Unanimity

The executing process where the project team communicates with stakeholders to ensure their needs are addressed and their issues are resolved.
A group decision technique where a simply majority of votes is enough to make a decision
A point at which two or more network paths converge
A group decision technique where everyone on the team must agree with the decision before a decision is made. A jury is a common example where unanimity is used.

Finish-to-Start (FS)

The successor activity cannot finish before the predecessor activity.
The successor activity cannot be started until the preceding activity has finished (most common relationship).
A technique of schedule analysis, where the schedule activities are evaluated to determine the float (or slack) for each activity and the overall schedule. The critical path method uses forward pass, backward pass, and float analysis to identify all network paths, including the critical path. The reason this technique is known as the critical path method is that the path of least flexibility and highest risk (ie the critical path) is identified so that it may be managed appropriately.
The system used to support management of the project. It serves as a repository for information and a tool to help with communication and tracking. The PMIS supports the project from beginning to end.

Allowable Costs

Costs that are allowed under the terms of the contract. Typically, allowable costs become relevant under certain types of cost-reimbursable contracts where the buyer reimburses the seller's allowable costs. If there are non-allowable costs in a contract, the buyer is not obligated to reimburse the seller for these.
Something needed or used by a process to create the outputs for that process
Anything that could have a positive impact on the project's scope, schedule or cost. Opportunities are also considered as risks to the project, as they represent uncertainty.
The method that produces activity on arrow (AOA) diagrams

Earned Value (EV) / Budgeted Cost of Work Performed (BCWP)

One of two closing processes that focuses on making sure the procurement is completed, the product or service is accepted, and the contract is closed. Even if a contract is terminated early, the process of Close Procurements should be carried out.
The person responsible for funding the project. The sponsor is typically someone from senior management and may or may not be the same person as the customer
A cost accounting term representing the value of the work that has actually been completed up to a point in time. EV is different from AC because EV measures what was actually done and how much that is worth, which is different from what has been spent.
Inspecting the product, service, or result to ensure that the scope is implemented completely

Hammock Activity

An activity that summarizes other schedule activities. While the project execution occurs at the lower (sub) activity level, hammock activities are used for tracking and reporting purposes. Most times, a hammock activity groups activities that would not be related through the WBS.
The date work on a schedule activity should begin according to the plan
A time-limited undertaking to deliver a unique product, service, or outcome.
The amount of time needed to complete a schedule activity or work package. Duration is different from effort, since duration is concerned with calendar time, while effort is concerned with work hours. Ex: A schedule activity that takes 8 workers 5 days would require 40 days of effort, but may be possible to complete in the duration of only one workweek. Durations are estimated during the Estimate Activity Durations process.

Delphi Technique

A means of gathering expert judgment where the participants do not know who the others are and therefore are not able to influence each other's opinion. The Delphi Technique is designed to prevent groupthink and to find out a participants's real opinion. *Key is you get better, more honest answers from everyone when you agree on anonymity
An initiating process where the project charter is produced. This process occurs very early in the project, but also may take place at the beginning of each project phase. The output of this process formally authorizes the project to begin, names the project manager, and provides resources for the project.
A relationship between two or mot activities where one activity must be started or completed before another related activity may be started or completed. A Dependency may be mandatory, discretionary, or external to the organization. It is also known as a logical relationship between nodes.
A type of graphical network diagram where schedule activities are represented by lines with arrows

Histogram

Anything done to make a product or service conform to specifications
A statistical tool that uses a column chart to show frequency of occurrence of a particular item. Used in quality management to determine statistical trends and identify issues or problems.
A statistical forecasting technique to predict results related to scope, time or cost by plotting a trend line based on previous performance. Run charts are often used in trend analysis to create trend lines.
A document that serves as a starting point for a particular output

Control Limits

The monitoring and controlling process in communications management that creates the performance reports. These reports distribute information that show how the project is progressing against the plan.
The upper and lower limits, used in statistical process control, that determine whether or not a process is in control. Upper and lower control limits are set at prescribed intervals and measured in standard deviations, above and below the mean. As long as the data points fall between the control limits, the process is in control.
The person responsible for evaluating the project deliverables between phases at the phase exit gates. The gatekeeper is preferably an impartial person from senior management who does not work directly on the project.
The part a person will play on the project

Milestone

A time-limited undertaking to deliver a unique product, service, or outcome.
The plan for how the project schedule will be measured, monitored, and controlled. The schedule management plan is created in the Develop Project Management Plan process.
A notable event in the project. A milestone may be a date, a project deliverable, or any significant point of interest.
A central component of the project plan that prescribes when activities should take place and in what order.

Planning Processes

The process group containing all of the processes associated with planning or creating a plan
The successor activity cannot finish before the predecessor activity.
The part a person will play on the project
The amount of work needed to complete an activity

280 Free PMP Vocabulary Questions to Pass the PMP on the First Try