[2021 FREE PMP RESOURCES] PMP Flashcards (Glossary E–I) — Consolidate Your PMP Study Effortlessly

You will learn many topics, new concepts, formulas, and other things while studying for the PMP. You will need to memorize what you have learned earlier when learning new subjects. During your PMP exam preparation, you can take notes, use cheat sheets, and, of course, one of the best ways to memorize topics is to use PMP exam flashcards.

All PMP flashcards contain detailed descriptions to help you comprehend crucial PMP exam concepts. They are geared toward anyone studying for the exam.

Related Read: [Free PMP Resources] PMP Flashcards (Glossary A–D) — Quickly Memorize Your PMP Study

PMP® Flashcard — Glossary E – I

E

Early Finish Date (EF) – [Project Schedule Management] the earliest date an activity can be completed while keeping in mind project constraints.

Early Start Date (ES) – [Project Schedule Management] the earliest date on which an activity can begin, considering project limitations.

Earned Value (EV) – [Project Schedule/Cost Management] a statistic for calculating the percentage of work completed based on the activity/project budget.

Earned Value Management (EVM) – [Project Schedule/Cost Management] the suggested approach for monitoring project performance by comparing planned and earned values for cost, schedule, and scope measurement; numerous established metrics for performance assessment, such as CPI, SPI, and so on.

Emotional Intelligence – [Project Resource Management] the ability to comprehend and regulate one's own emotions, as well as develop relationships with others.

Enhance – [Project Risk Management] a risk responses strategy to raise the possibility of positive risks occurring.

Enterprise Environmental Factors (EEF) are all factors beyond the project team's control that might positively or negatively impact the project; they can be both internal and external to the performing organization.

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Estimate at completion (EAC) – [Project Schedule/Cost Management] the project's expected total cost of completion; may be revised with actual costs during project execution.

Estimate to Complete (ETC) – [Project Schedule/Cost Management] the estimated remaining cost for finishing the project, i.e., the estimated cost required to complete the project.

Expected Monetary Value (EMV) Analysis – [Project Risk Management] A statistical method for calculating the monetary impact of all probable outcomes related to the probabilities of occurrence; a tool for Quantitative Risk Analysis.

Expert Judgment individuals/groups of people use their knowledge of their area(s) of competence to make the best conclusion possible.

Expectancy Theory – [Project Resource Management] a motivational theory that proposes that people are motivated to behave or act in a given way by their expectations of results.

Exploit – [Project Risk Management] a risk response plan to ensure the occurrence of positive risk.

External Dependency – [Project Schedule Management] When an activity starts or completes an activity dependent on external parties, such as the government or a vendor, the activity is said to have an external dependency.

F

Fast-Tracking – [Project Schedule Management] When time is of the essence, project managers may employ this time-saving schedule compression strategy, in which activities are carried out in parallel to save time.

Fallback – [Project Risk Management] If the original plan proves ineffective or risk occurs, actions should be taken.

Feasibility Study – [Project Integration Management] conducted at the start of a project to determine the project's advantages and possibilities of success.

Finish-to-Finish – [Project ScheduleManagement]  A logical link between two activities in which the successor activity cannot complete until the predecessor activity has been completed.

Finish-to-Start – [Project Schedule Management] A logical link between two actions in which the successor activity cannot begin until the predecessor activity is completed.

Firm Fixed-Price Contract (FFP) – [Project Procurement Management] a type of contract in which the buyer pays the seller the agreed-upon price without accounting for actual expenses.

Fixed Formula Method – [Project Schedule/Cost Management] an Earned Value (EV) method for monitoring progress based on a pre-determined formula (e.g., 0/100, 25/75, 50/50 — for a 25/75 arrangement, the activity will receive 25% completeness when it starts).

Fixed-Price Incentive Fee Contract (FPIF) – [Project Procurement Management] a type of contract in which the buyer pays the agreed-upon price plus a bonus if performance targets are met. The vendor bears the majority of the risk.

Fixed-Price with Economic Price Adjustment Contract (FP-EPA) – [Project Procurement Management] a type of fixed-price fee contract that takes inflation into account.

Float – [Project Schedule Management] the amount of time a project task can be postponed without causing other tasks to be delayed.

Force Majeure – [Project Procurement Management] These are catastrophic circumstances beyond the team's control and usually are written as a clause in the contract.

Forcing – [Project Resource Management] is a dispute resolution strategy in which one person pushes another to accept a solution or resolution.

Forward Pass – [Project Schedule Management] a critical path method (CPM) methodology that involves walking through the schedule from beginning to end to determine the early start and early finish dates for each activity in the network diagram.

Free Float – [Project Schedule Management] the amount of time a project task can be postponed without delaying the commencement of the subsequent activity.

Functional Manager – A functional manager is in charge of a department or business unit that produces products or services.

Functional Organization – A functional organization is one in which the entire company is divided into smaller sections based on specific functional areas.

Funding Limit Reconciliation – [Project Cost Management] a process of comparing and adjusting funding limits by defining scope and rescheduling operations to guarantee that funding limits are not exceeded.

G

Gantt Charts – [Project Schedule Management] is a bar chart used to display the timing and duration of scheduled operations.

Gold Plating – is a conscious decision to add extra functionality/features not in the project scope to exceed customer satisfaction, which can frequently lead to scope creep and is NOT encouraged by PMI.

Grade – [Project Quality Management] a category to grade the performance of products according to different technical characteristics, for example, differing quality grades of eggs (large, small, etc.)

Ground Rules – [Project Resource Management] An defined set of expectations about team member conduct.

H

Hammock Activity – [Project Schedule Management] bundle multiple comparable tasks into one to simplify the project schedule network diagram.

Hygienic Theory – [Project Resource Management] established by Frederick Herzberg, the Hygiene Theory suggests that the existence of motivators (satisfiers) and hygiene aspects influence people's attitudes toward work (absence of which would create dissatisfaction).

I

Impact – [Project Risk Management] the size of an opportunity's / threat's repercussions.

Incentive Fee – [Project Procurement Management] compensation paid to the seller for reaching the contract's performance, cost, and schedule criteria.

Independent Estimates – [Project Procurement Management] utilize external data/resources to determine the reasonableness of vendor quotations.

Influence Diagram – [Project Quality Management] a diagram that depicts the probable effects of project circumstances on others.

Information Management Systems – [Project Plan Stakeholder Engagement] systems collect, store, and distribute project information to stakeholders in the desired format.

Inputs are information/resources added to a process for processing to generate specific outputs.

Inspection – [Project Quality Management] steps taken (e.g., testing, measuring, reviewing, and scrutinizing) ensure that a project output complies with the project's quality criteria.

Inspections and Audits – [Project Procurement Management] evaluate and verify the seller's performance/deliverables following the contract specifications.

Internal Dependency – [Project Schedule Management] dependencies between tasks that the project team is in charge of.

Internal Rate of Return (IRR) – [Project Integration Management] the rate of return on an investment represented as a percentage over the investment period. The higher the IRR, the more successful the project.

Interpersonal Skills (Soft Skills) – [Project Resource Management] can inspire team members via delegation, coaching, and communication, among other techniques.

Interrelationship Digraphs – [Project Human Quality Management] graphically depicts cause-and-effect links for situations involving various variables/outcomes.

Invitation for Bid (IFB) – [Project Procurement Management] soliciting bids for a project.

Issue – [Project Plan Stakeholder Engagement] unanticipated problems, gaps, inconsistencies, or disputes during the project.

Issue Log – [Project Plan Stakeholder Engagement] is a project document in which all issues are recorded and tracked and used to report the problems to stakeholders.

Iterative Project Management Life Cycle enables greater adaptability to changes by conducting the project in iterative cycles (mini-waterfalls).

Summary

Flashcards are a time-honored method of studying. They aid with recall and encourage active memory. When looking for the PMP test, you might incorporate flashcards into your study routine. This can be really beneficial because it allows you to quiz yourself until you are entirely familiar with the terms that may arise on the actual exam.

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