Project Life Cycle & Methodologies Flashcards

CompTIA Project+ PK0-005 (V5) Flashcards

Front	Back
Agile Methodology	Iterative and incremental approach emphasizing flexibility and collaboration.
Closing Phase	Finalizes all activities, delivers outcomes, and evaluates project success.
Critical Path in Projects	Longest sequence of tasks that determines the shortest possible project duration.
Difference Between Agile and Waterfall	Agile is iterative and incremental while Waterfall is linear and sequential.
Executing Phase	Focuses on completing project work according to the plan.
Hybrid Methodology	Combines elements of Waterfall and Agile to leverage strengths of both.
Initiating Phase	Defines the project goals, scope, and stakeholders.
Kanban Methodology	Visual workflow management using boards and cards to track tasks in real time.
Key Activity in Monitoring and Controlling	Performing variance analysis to compare planned vs. actual progress.
Key Activity in Project Closing	Conducting a post-mortem to document lessons learned.
Key Activity in Project Execution	Managing teams and allocating resources.
Key Activity in Project Initiation	Developing the project charter.
Key Activity in Project Planning	Creating the Work Breakdown Structure (WBS).
Key Advantage of Agile	Adaptability to changing requirements and faster value delivery.
Key Advantage of Waterfall	Clear structure and well-documented processes.
Key Disadvantage of Agile	Requires strong team collaboration and constant customer involvement.
Key Disadvantage of Waterfall	Inflexible to changes once the project is underway.
Key Principle of Agile	Deliver working software frequently, with a preference for shorter timescales.
Lean Methodology	Focuses on delivering value by minimizing waste and maximizing efficiency.
Milestone Definition	Significant points or events marking progress in a project.
Monitoring and Controlling	Tracks progress, performance, and changes to ensure project alignment with goals.
Planning Phase	Involves creating detailed plans, schedules, and resource allocation.
RACI Chart	Outlines who is Responsible, Accountable, Consulted, and Informed for tasks.
Risk Management in Projects	Identifying, analyzing, and responding to potential risks to minimize impact.
Role of Scope in Projects	Defines the boundaries and deliverables of the project.
Role of Stakeholders	Influence, support, and validate the project goals and outcomes.
Scrum Framework	A type of Agile methodology featuring sprints, daily stand-ups, and defined roles like Product Owner.
Waterfall Methodology	Sequential approach where each phase must be completed before moving to the next.

CompTIA Project+ PK0-005 (V5)

Focuses on different project phases, key activities at each stage, and compares Waterfall, Agile, and other methodologies.

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