PMI TRAINING STUDY SHEET 2026 UPDATED
QUESTIONS AND ANSWERS
◉Fixed Price with Economic Price Adjustment Contract (FPEPA).
Answer: A fixed-price contract, but with a special provision allowing
for predefined final adjustments to the contract price due to
changed conditions, such as inflation changes, or cost increases (or
decreases) for specific commodities.
◉Flow. Answer: The measure of how efficiently work moves through
a given process or framework.
◉Flowchart. Answer: The depiction in a diagram format of the
inputs, process actions, and outputs of one or more processes within
a system.
◉Forecast. Answer: An estimate or prediction of conditions and
events in the project's future based on information and knowledge
available at the time of the forecast.
,◉Function Point. Answer: An estimate of the amount of business
functionality in an information system, used to calculate the
functional size measurement of a software system.
◉Gantt Chart. Answer: A bar chart of schedule information where
activities are listed on the vertical axis, dates are shown on the
horizontal axis, and activity durations are shown as horizontal bars
placed according to start and finish dates.
◉Governance. Answer: The framework for directing and enabling an
organization through its established policies, practices, and other
relevant documentation.
◉Grade. Answer: A category or rank used to distinguish items that
have the same functional use but do not share the same
requirements for quality.
◉Hierarchy Chart. Answer: A chart that begins with high-level
information that is progressively decomposed into lower levels of
detail.
◉Histogram. Answer: A bar chart that shows the graphical
representation of numerical data.
,◉Hybrid Approach. Answer: A combination of two or more agile and
nonagile elements, having a nonagile end result.
◉Impact Mapping. Answer: A strategic planning method that serves
as a visual roadmap for the organization during product
development.
◉Impediment. Answer: An obstacle that prevents the team from
achieving its objectives.
◉Incremental Approach. Answer: An adaptive development
approach in which the deliverable is produced successively, adding
functionality until the deliverable contains the necessary and
sufficient capability to be considered complete.
◉Indefinite Delivery Indefinite Quantity (IDIQ). Answer: A contract
that provides for an indefinite quantity of goods or services, with a
stated lower and upper limit, within a fixed time period.
◉Influence Diagram. Answer: A graphical representation of
situations showing causal influences, time ordering of events, and
other relationships among variables and outcomes.
, ◉Information Radiator. Answer: A visible, physical display that
provides information to the rest of the organization, enabling timely
knowledge sharing.
◉Initiating Process Group. Answer: Those processes performed to
define a new project or a new phase of an existing project by
obtaining authorization to start the project or phase.
◉Internal Dependency. Answer: A relationship between two or
more project activities.
◉Interpersonal Skills. Answer: Skills used to establish and maintain
relationships with other people.
◉Issue. Answer: A current condition or situation that may have an
impact on the project objectives.
◉Issue Log. Answer: A project document where information about
issues is recorded and monitored.
◉Iteration. Answer: A timeboxed cycle of development on a product
or deliverable in which all of the work that is needed to deliver value
is performed.
QUESTIONS AND ANSWERS
◉Fixed Price with Economic Price Adjustment Contract (FPEPA).
Answer: A fixed-price contract, but with a special provision allowing
for predefined final adjustments to the contract price due to
changed conditions, such as inflation changes, or cost increases (or
decreases) for specific commodities.
◉Flow. Answer: The measure of how efficiently work moves through
a given process or framework.
◉Flowchart. Answer: The depiction in a diagram format of the
inputs, process actions, and outputs of one or more processes within
a system.
◉Forecast. Answer: An estimate or prediction of conditions and
events in the project's future based on information and knowledge
available at the time of the forecast.
,◉Function Point. Answer: An estimate of the amount of business
functionality in an information system, used to calculate the
functional size measurement of a software system.
◉Gantt Chart. Answer: A bar chart of schedule information where
activities are listed on the vertical axis, dates are shown on the
horizontal axis, and activity durations are shown as horizontal bars
placed according to start and finish dates.
◉Governance. Answer: The framework for directing and enabling an
organization through its established policies, practices, and other
relevant documentation.
◉Grade. Answer: A category or rank used to distinguish items that
have the same functional use but do not share the same
requirements for quality.
◉Hierarchy Chart. Answer: A chart that begins with high-level
information that is progressively decomposed into lower levels of
detail.
◉Histogram. Answer: A bar chart that shows the graphical
representation of numerical data.
,◉Hybrid Approach. Answer: A combination of two or more agile and
nonagile elements, having a nonagile end result.
◉Impact Mapping. Answer: A strategic planning method that serves
as a visual roadmap for the organization during product
development.
◉Impediment. Answer: An obstacle that prevents the team from
achieving its objectives.
◉Incremental Approach. Answer: An adaptive development
approach in which the deliverable is produced successively, adding
functionality until the deliverable contains the necessary and
sufficient capability to be considered complete.
◉Indefinite Delivery Indefinite Quantity (IDIQ). Answer: A contract
that provides for an indefinite quantity of goods or services, with a
stated lower and upper limit, within a fixed time period.
◉Influence Diagram. Answer: A graphical representation of
situations showing causal influences, time ordering of events, and
other relationships among variables and outcomes.
, ◉Information Radiator. Answer: A visible, physical display that
provides information to the rest of the organization, enabling timely
knowledge sharing.
◉Initiating Process Group. Answer: Those processes performed to
define a new project or a new phase of an existing project by
obtaining authorization to start the project or phase.
◉Internal Dependency. Answer: A relationship between two or
more project activities.
◉Interpersonal Skills. Answer: Skills used to establish and maintain
relationships with other people.
◉Issue. Answer: A current condition or situation that may have an
impact on the project objectives.
◉Issue Log. Answer: A project document where information about
issues is recorded and monitored.
◉Iteration. Answer: A timeboxed cycle of development on a product
or deliverable in which all of the work that is needed to deliver value
is performed.
