[2021 FREE PMP RESOURCES] PMP Flashcards (Glossary K–O) — Easily Master PMP® Exam Concepts

As you enter into the arduous task of passing the Project Management Institute's (PMI)® Project Management Professional (PMP)® test, you'll discover that numerous tools and approaches can be used to make studying not only easier but also less stressful.

Free PMP test-preparation flashcards can be an invaluable addition to your training toolkit. The reason flashcards are critical for passing the PMP test is that most individuals believe they must study for hours on end, when in reality, finding that much time is quite challenging, which frequently results in frustration and a lack of progress with your learning. With the help of free printable PMP flashcards, learning can be broken down into much smaller time windows, alleviating the frustration associated with establishing such demanding time constraints.

Further Reading:

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

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

PMP® Flashcard — Glossary K – O

K

Kaizen — [Project Quality Management] is a Japanese management philosophy that promotes incremental improvements for continuous development.

Kick-off Gathering — [Project Integration Management] is the initial meeting of the project team and all essential stakeholders to formally kick off the project by establishing a shared understanding of the project's objectives.

L

Lag — [Project Schedule Management] A term used in the project schedule network, lag denotes the time difference between the successor and predecessor activities.

Late Finish Date (LF) — [Project Schedule Management] the latest date an activity can be completed while still adhering to project schedule constraints.

Late Start Date (LS) — [Project Schedule Management] the latest date an activity can begin given the limits of the project schedule.

Lead — [Project Schedule Management] When used in conjunction with a project schedule network, lead denotes the overlapping of the successor and predecessor activities, i.e., the successor activity begins before the predecessor activity concludes.

Leadership Styles — [Project Resource Management] a leader's approach to motivating and leading the project team, for example, authoritarian, democratic, laissez-faire, etc.

Lessons Learned — [Project Integration Management] documentation of knowledge obtained during the project's lifecycle, particularly the elements that contribute to the project's success or failure.

Level of Effort (LOE) — [Project Schedule/Cost Management] a method for calculating the earned value (EVM) of support operations (not directly contributing to the project deliverables).

Logical Relationships / Logical Dependencies — [Project Schedule Management] the relationships/affiliations between two project activities, i.e., finish-to-start (FS), finish-to-finish (FF), start-to-start (SS), and start-to-finish (SF) (SF)

Lump-Sum Contracts — [Project Procurement Management] a sort of contract in which the seller receives a pre-agreed sum of money; this type of contract is ideal for well-defined activities.

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M

Management Reserve — [Project Cost Management] An additional amount set aside in the project budget for unanticipated costs must be authorized by management before expenditure.

Mandatory Dependency / Hard Logic — [Project Schedule Management] a sort of requirement-based dependency between activities.

Maslow's Hierarchy of Needs — [Project Resource Management] a motivational theory advanced by Maslow advocating for the five essential human needs of bodily well-being, safety and security, social well-being, self-esteem, and self-actualization.

Matrix Diagrams — [Project Quality Management] a quality management tool that uses a grid to represent correlations between multiple components.

Matrix Organization is one in which the project manager and functional managers share management responsibilities; there are three types of matrix organizations: strong, balanced, and weak.

Milestone — [Project Schedule Management] a significant non-recurring event in the project's timeframe.

Milestone List — [Project Schedule Management] a summary of the project's milestones.

Mind Maps – [Project Quality Management] is a diagramming approach for graphically organizing data to explore concepts.

Mitigate — [Project Risk Management] a risk response technique designed to lessen the likelihood/magnitude of an adverse event.

Monte Carlo Simulation — [Project Risk Management] by running the project under various conditions several times to examine different project outcomes.

N

Negotiation — [Project Procurement Management] communication and discussion between parties to arrive at a mutually acceptable solution.

Network Diagram / Logic Diagram — [Project Schedule Management] is a series of operations connected by logical dependencies.

Networking — [Project Resource Management] connect and communicate with others to establish rapport and establish a relationship.

NPV — [Project Integration Management] the present value (PV) of the project's future net cash flow.

Nominal Group Technique — [Project Plan Stakeholder Engagement] a technique for eliciting and organizing ideas from all participants to facilitate decision-making.

Non-conformance — [Project Quality Management] the rework required to complete operations correctly the first time, a sort of quality cost (COQ).

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O

Opportunity — [Project Risk Management] A risk that is believed to have a beneficial effect on the project, sometimes referred to as a positive risk.

Ordinal Scale — [Project Risk Management] a scale used to rank hazards on a relative basis (i.e., low, moderate, and high).

Organizational Breakdown Structure (OBS) — [Project Scope Management] a hierarchical organizational structure within the work breakdown structure (WBS) that is used to assign work to project resources.

Organizational Process Assets (OPA) is a collective term for all organizational information relevant to the project, including policies, procedures, processes, and knowledgebase.

Organizational Structures defines how an organization's structure, e.g., functional, matrix, projectorized, and composite, is managed.

Output is the product (e.g., deliverables, result, etc.) of a process.

Summary

While PMP flashcards will not assist you with this deeper grasp of the exam, they will be incredibly beneficial for many of the formulae and concepts on your route to passing the PMP exam.

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