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Description
Flashcards by miguelabascal, updated more than 1 year ago
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Created by miguelabascal
over 11 years ago
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| Question | Answer |
| What is a Project? | A project is a temporary endeavor undertaken to create a unique product, service, or result. |
| A project can create: | • A product that can be either a component of another item, an enhancement of an item, or an end item in itself; • A service or a capability to perform a service (e.g., a business function that supports production or distribution); • An improvement in the existing product or service lines (e.g., A Six Sigma project undertaken to reduce defects); or • A result, such as an outcome or document (e.g., a research project that develops knowledge that can be used to determine whether a trend exists or a new process will benefit society). |
| What is Project Management? | Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements |
| five Process Groups are: | • Initiating, • Planning, • Executing, • Monitoring and Controlling, and • Closing. |
| How many Project Management processes | 47 |
| Managing a project typically includes | • Identifying requirements; • Addressing the various needs, concerns, and expectations of the stakeholders in planning and executing the project; • Setting up, maintaining, and carrying out communications among stakeholders that are active, effective, and collaborative in nature; • Managing stakeholders towards meeting project requirements and creating project deliverables; • Balancing the competing project constraints, which include, but are not limited to: ○○ Scope, ○○ Quality, ○○ Schedule, ○○ Budget, ○○ Resources, and ○○ Risks. |
| Progressive elaboration involves | continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available |
| A program is... | is defined as a group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually |
| Program management is | the application of knowledge, skills, tools, and techniques to a program in order to meet the program requirements and to obtain benefits and control not available by managing projects individually. |
| Program management focuses on | the project interdependencies and helps to determine the optimal approach for managing them |
| A portfolio refers to | projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives. |
| A project management office (PMO) is | a management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques |
| Difference between Operations Management and Project Management | Organizations sometimes change their operations, products, or systems by creating strategic business initiatives that are developed and implemented through projects. Projects require project management activities and skill sets, while operations require business process management, operations management activities, and skill sets. Operations are ongoing endeavors that produce repetitive outputs, with resources assigned to do basically the same set of tasks according to the standards institutionalized in a product life cycle. Unlike the ongoing nature of operations, projects are temporary endeavors |
| Business value is | defined as the entire value of the business; the total sum of all tangible and intangible elements. |
| Role of the Project Manager | The project manager is the person assigned by the performing organization to lead the team that is responsible for achieving the project objectives |
| Organizational process assets | are the plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization |
| Organizational process assets may be grouped into two categories | (1) processes and procedures, and (2) corporate knowledge base |
| Processes and Procedures | Initiating and Planning Executing, Monitoring and Controlling Closing |
| Initiating and Planning | Guidelines and criteria for tailoring the organization’s set of standard processes and procedures to satisfy the specific needs of the project; ○○ Specific organizational standards such as policies (e.g., human resources policies, health and safety policies, ethics policies, and project management policies), product and project life cycles, and quality policies and procedures (e.g., process audits, improvement targets, checklists, and standardized process definitions for use in the organization); and ○○ Templates (e.g., risk register, work breakdown structure, project schedule network diagram, and contract templates). |
| Executing, Monitoring and Controlling: | Change control procedures, including the steps by which performing organization standards, policies, plans, and procedures or any project documents will be modified, and how any changes will be approved and validated; ○○ Financial controls procedures (e.g., time reporting, required expenditure and disbursement reviews, accounting codes, and standard contract provisions); ○○ I ssue and defect management procedures defining issue and defect controls, issue and defect identification and resolution, and action item tracking; Organizational communication requirements (e.g., specific communication technology available, authorized communication media, record retention policies, and security requirements); ○○ Procedures for prioritizing, approving, and issuing work authorizations; ○○ Risk control procedures, including risk categories, risk statement templates, probability and impact definitions, and probability and impact matrix; and ○○ Standardized guidelines, work instructions, proposal evaluation criteria, and performance measurement criteria. |
| Closing | Project closure guidelines or requirements (e.g., lessons learned, final project audits, project evaluations, product validations, and acceptance criteria). |
| Corporate Knowledge Base | The organizational knowledge base for storing and retrieving information includes, but is not limited to: • Configuration management knowledge bases containing the versions and baselines of all performing organization standards, policies, procedures, and any project documents; • Financial databases containing information such as labor hours, incurred costs, budgets, and any project cost overruns; • Historical information and lessons learned knowledge bases (e.g., project records and documents, all project closure information and documentation, information regarding both the results of previous project selection decisions and previous project performance information, and information from risk management activities); • Issue and defect management databases containing issue and defect status, control information, issue and defect resolution, and action item results; • Process measurement databases used to collect and make available measurement data on processes and products; and • Project files from previous projects (e.g., scope, cost, schedule, and performance measurement baselines, project calendars, project schedule network diagrams, risk registers, planned response actions, and defined risk impact). |
| Enterprise Environmental Factors | Enterprise environmental factors refer to conditions, not under the control of the project team, that influence, constrain, or direct the project. are considered inputs to most planning processes, may enhance or constrain project management options, and may have a positive or negative influence on the outcome. |
| A stakeholder is | an individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project |
| Project governance | the alignment of the project with stakeholders’ needs or objectives—is critical to the successful management of stakeholder engagement and the achievement of organizational objectives |
| A sponsor is | the person or group who provides resources and support for the project and is accountable for enabling success. |
| Customers are | the persons or organizations who will approve and manage the project’s product, service, or result. |
| Users are | the persons or organizations who will use the project’s product, service, or result |
| Sellers, also called vendors, suppliers, or contractors, are | external companies that enter into a contractual agreement to provide components or services necessary for the project. |
| Business partners are | external organizations that have a special relationship with the enterprise, sometimes attained through a certification process |
| Organizational groups are | internal stakeholders who are affected by the activities of the project team. Ex. marketing and sales, human resources, legal, finance, operations, manufacturing, and customer service |
| Functional managers are | key individuals who play a management role within an administrative or functional area of the business, such as human resources, finance, accounting, or procurement |
| Project governance is | a critical element of any project, especially on complex and risky projects. It provides a comprehensive, consistent method of controlling the project and ensuring its success by defining and documenting and communicating reliable, repeatable project practices. It includes a framework for making project decisions; defines roles, responsibilities, and accountabilities for the success of the project; and determines the effectiveness of the project manager. |
| The project governance approach should be described in the | project management plan |
| the success of the project should be measured in terms of | completing the project within the constraints of scope, time, cost, quality, resources, and risk as approved between the project managers and senior management. |
| A project life cycle is | the series of phases that a project passes through from its initiation to its closure |
| A project phase is | a collection of logically related project activities that culminates in the completion of one or more deliverables |
| In a sequential relationship, a phase starts only | when the previous phase is complete |
| In an overlapping relationship, a phase starts | prior to completion of the previous one |
| Predictive life cycles (also known as fully plan-driven) are | ones in which the project scope, and the time and cost required to deliver that scope, are determined as early in the project life cycle as practically possible |
| Predictive life cycles are generally preferred when | the product to be delivered is well understood, there is a substantial base of industry practice, or where a product is required to be delivered in full to have value to stakeholder groups. |
| Iterative and incremental life cycles are | ones in which project phases (also called iterations) intentionally repeat one or more project activities as the project team’s understanding of the product increases |
| Iterative and incremental life cycles are generally preferred when | an organization needs to manage changing objectives and scope, to reduce the complexity of a project, or when the partial delivery of a product is beneficial and provides value for one or more stakeholder groups without impact to the final deliverable or set of deliverables. Large and complex projects are frequently executed in an iterative fashion to reduce risk by allowing the team to incorporate feedback and lessons learned between iterations. |
| Adaptive life cycles (also known as change-driven or agile methods) are | intended to respond to high levels of change and ongoing stakeholder involvement. Adaptive methods are also iterative and incremental, but differ in that iterations are very rapid (usually with a duration of 2 to 4 weeks) and are fixed in time and cost |
| Types of Life Cycles | Predictive Life Cycles (fully plan-driven) Iterative and Incremental Life Cycles Adaptive Life Cycles (change-driven or agile) |
| A process is | a set of interrelated actions and activities performed to create a pre-specified product, service, or result. |
| Project management processes are grouped into | five categories known as Project Management Process Groups (or Process Groups): • Initiating Process Group. 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. • Planning Process Group. Those processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve. • Executing Process Group. Those processes performed to complete the work defined in the project management plan to satisfy the project specifications. • Monitoring and Controlling Process Group. Those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes. • Closing Process Group. Those processes performed to finalize all activities across all Process Groups to formally close the project or phase. |
| Project Management Process Groups diagram |
Image:
PM_PROCESS_GROUP (image/jpg)
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| Processes groups interactions diagram | |
| The Process Groups are not | project life cycle phases. |
| projects are separated into distinct phases or subcomponents, such as | concept development feasibility study, design, prototype, build, or test, etc. |
| Initiating Process Group | |
| The Initiating Process Group consists of | 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 |
| The Planning Process Group consists of | those processes performed to establish the total scope of the effort, define and refine the objectives, and develop the course of action required to attain those objectives |
| The Executing Process Group consists of | those processes performed to complete the work defined in the project management plan to satisfy the project specifications |
| The Monitoring and Controlling Process Group consists of | hose processes required to track, review, and orchestrate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes. |
| The Closing Process Group consists of | those processes performed to conclude all activities across all Project Management Process Groups to formally complete the project, phase, or contractual obligations |
| Project Data and Information | |
| A Knowledge Area represents a | complete set of concepts, terms, and activities that make up a professional field, project management field, or area of specialization. |
| The Knowledge Areas are: | 10 Project Integration Management, Project Scope Management, Project Time Management, Project Cost Management, Project Quality Management, Project Human Resource Management, Project Communications Management, Project Risk Management, Project Procurement Management and Project Stakeholder Management. |
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