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| Concept/Formula | Definition/Equation | When to Use |
|---|---|---|
| Project | Temporary endeavor to create a unique product, service, or result. | Differentiating from routine operations. |
| Project Management | Application of knowledge, skills, tools, and techniques to meet project requirements. | Managing project activities effectively. |
| Project Success | Achievement of project goals and objectives. | Measuring project effectiveness. |
Type A: Identifying a Project
Setup: "When given a scenario, determine if it qualifies as a project."
Method: Check for uniqueness, temporary nature, and specific objectives.
Example: A marketing campaign with a defined start and end date is a project.
Type B: Differentiating Project Management from Operations
Setup: "When asked to distinguish between project management and operations."
Method: Project management is temporary and unique; operations are ongoing and repetitive.
Example: Daily customer service is an operation, not a project.
Problem: A company is launching a new product. Is this a project? Steps:
"✅Answer: Yes, launching a new product is a project.
| Concept/Formula | Definition/Equation | When to Use |
|---|---|---|
| Quality | Degree to which a set of inherent characteristics fulfills requirements. | Defining quality standards. |
| Prevention Costs | Costs associated with preventing defects. | Minimizing total cost of quality. |
| Appraisal Costs | Costs associated with assessing quality. | Ensuring quality standards are met. |
Type A: Identifying Quality Costs
Setup: "Given a scenario, identify the type of quality cost."
Method: Determine if the cost is related to prevention, appraisal, internal failure, or external failure.
Example: Training employees to prevent defects is a prevention cost.
Type B: Applying Quality Management Processes
Setup: "When asked to describe the quality management process."
Method: Follow the steps of quality policy, objectives, planning, control, and improvement.
Example: Implementing a quality control checklist is part of the quality control process.
Problem: A company spends money on inspecting products for defects. What type of cost is this? Steps:
"✅Answer: Appraisal Cost
| Concept/Formula | Definition/Equation | When to Use |
|---|---|---|
| Risk | Uncertain event that, if it occurs, has a positive or negative effect on project objectives. | Identifying potential threats and opportunities. |
| Risk Mitigation | Reducing the probability or impact of a risk. | Minimizing negative consequences. |
| Risk Transfer | Shifting the risk to a third party. | Allocating risk to those best equipped to manage it. |
Type A: Identifying Risk Response Strategies
Setup: "Given a risk and a proposed action, identify the risk response strategy."
Method: Determine if the action avoids, mitigates, transfers, or accepts the risk.
Example: Purchasing insurance to cover potential losses is risk transfer.
Type B: Categorizing Risks
Setup: "When asked to categorize a risk."
Method: Determine if the risk is external, internal, technical, management, organizational, or environmental.
Example: A change in government regulations is an external risk.
Problem: A project team decides to use a proven technology instead of a new one to avoid potential technical issues. What risk response strategy is this? Steps:
"✅Answer: Risk Avoidance
| Concept/Formula | Definition/Equation | When to Use |
|---|---|---|
| Team | Group of individuals working together to achieve a common goal. | Fostering collaboration and communication. |
| Interdependence | Team members rely on each other to achieve objectives. | Ensuring effective teamwork. |
| Shared Goals | Team members are committed to a common purpose. | Aligning team efforts. |
Type A: Identifying Characteristics of Successful Teams
Setup: "Given a team scenario, identify the characteristics contributing to success or failure."
Method: Look for clear goals, defined roles, open communication, and mutual trust.
Example: A team with unclear roles and responsibilities is likely to be unsuccessful.
Type B: Understanding Personality Types
Setup: "When asked how different personality types impact team dynamics."
Method: Consider frameworks like MBTI or DISC to understand communication styles and potential conflicts.
Example: A team with diverse personality types may benefit from improved problem-solving.
Problem: A project team is experiencing frequent conflicts due to poor communication. What characteristic of a successful team is lacking? Steps:
"✅Answer: Open communication.
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