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Risk & Quality Management Flashcards
CompTIA Project+ PK0-005 (V5) Flashcards
Study our Risk & Quality Management flashcards for the CompTIA Project+ PK0-005 (V5) exam with 24+ flashcards. View as flashcards, a searchable table, or as a fun matching game.
| Front | Back |
| Define ISO standards | International standards that ensure quality, safety, and efficiency of products and services |
| Define process mapping | A visual representation of a process to identify areas for improvement |
| Define quality metrics | Measurable indicators used to assess the quality of processes or products |
| Define Six Sigma | A methodology aimed at reducing defects and improving quality through statistical analysis |
| Define SWOT analysis | A framework for identifying strengths, weaknesses, opportunities, and threats |
| Difference between quality assurance and quality control | Quality assurance focuses on preventing defects while quality control focuses on identifying defects |
| Difference between risk appetite and risk tolerance | Risk appetite is the amount of risk an organization is willing to accept whereas risk tolerance is the acceptable variation around objectives |
| Explain Pareto analysis | Using the 80/20 rule to identify the most significant factors in a dataset |
| Explain the difference between qualitative and quantitative risk analysis | Qualitative uses subjective measures while quantitative uses numerical data |
| How are quality metrics used in project management | They track the performance and effectiveness of project processes and outcomes |
| How does risk prioritization work | Ranking risks based on their potential impact and likelihood to focus efforts |
| What are the steps in risk assessment | Identifying, analyzing, and prioritizing risks based on their impact and likelihood |
| What is a balanced scorecard | A strategic planning tool that measures organizational performance across multiple perspectives |
| What is a contingency plan | A predefined action to be implemented in response to a risk event |
| What is a key performance indicator (KPI) | A measurable value that indicates how effectively objectives are being achieved |
| What is a risk register | A tool for documenting identified risks, their analysis, and mitigation strategies |
| What is benchmarking | Comparing processes and performance metrics to industry bests or standards |
| What is continuous improvement | A persistent effort to enhance products, services, or processes over time |
| What is FMEA | Failure Modes and Effects Analysis used to identify potential failure points and their impact |
| What is risk identification | Determining potential risks that could affect project objectives |
| What is risk mitigation | Implementing strategies to reduce or eliminate identified risks |
| What is root cause analysis | Identifying the fundamental cause of a problem to prevent recurrence |
| What is the DMAIC framework | Define, Measure, Analyze, Improve, Control used in Six Sigma for process improvement |
| What is the PDCA cycle | Plan-Do-Check-Act cycle for continuous improvement |
About the Flashcards
Flashcards for the CompTIA Project+ exam offer a focused review of risk and quality management terminology and core concepts. Cards cover risk identification, assessment, prioritization, mitigation, registers, contingency planning, and the differences between qualitative and quantitative risk analysis to help you recall definitions and standard processes.
Study sets also reinforce quality frameworks and improvement tools such as PDCA, Six Sigma (DMAIC), FMEA, Pareto and root-cause analysis, plus quality metrics, KPIs, balanced scorecards, ISO standards, benchmarking, and process mapping. These cards are designed to help you memorize terms, compare methods, and recall key steps tested on the exam.
Topics covered in this flashcard deck:
- Risk identification and assessment
- Risk mitigation and registers
- Qualitative vs quantitative analysis
- Quality metrics and control
- Continuous improvement methods
- Performance measurement tools