Project Management Chapter 1

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Project
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a temporary endeavor undertaken to create a unique product, service, or result”
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Name 5 Project Attributes
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o Has a unique purpose o Is temporary o Is developed using progressive elaboration o Requires resources, often from various areas o Should have a primary customer or sponsor
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Triple Constraint
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Successful project management means meeting all three goals (scope, time, and cost) – and satisfying the project’s sponsor!
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Project Management
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the application of knowledge, skills, tools and techniques to project activities to meet project requirements”
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Project Stakeholders:
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are the people involved in or affected by project activities.
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Name 6 types of stockholders
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o The project sponsor o The project manager o The project team o Support staff o Customers o Users o Suppliers o Opponents to the project
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How can Project Success be Measured
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o The project met scope, time, and cost goals o The project satisfied the customer/sponsor o The results of the project met its main objective, such as making or saving a certain amount of money, providing a good return on investment, or simply making the sponsors happy.
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best practice
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an optimal way recognized by industry to achieve a stated goal or objective
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o critical path
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the longest path through a network diagram that determines the earliest completion of a project
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o enterprise or portfolio project management software
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software that integrates information from multiple projects to show the status of active, approved, and future projects across an entire organization
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o ethics
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a set of principles that guide our decision making based on personal values of what is “right” and “wrong”
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o Gantt chart
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a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format
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o leader —
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a person who focuses on long-term goals and big-picture objectives, while inspiring people to reach those goals
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o manager
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a person who deals with the day-to-day details of meeting specific goals
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o program
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a group of projects managed in a coordinated way to obtain benefits and control not available from managing them individually
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o program manager
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a person who provides leadership and direction for the project managers heading the projects within the program
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o project manager
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the person responsible for working with the project sponsor, the project team, and the other people involved in a project to meet project goals
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o Project Management Institute (PMI)
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international professional society for project managers
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o project management knowledge areas
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project integration management, scope, time, cost, quality, human resource, communications, risk, and procurement management
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o Project Management Office (PMO)
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an organizational group responsible for coordinating the project management functions throughout an organization
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o Project Management Professional (PMP)
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certification provided by PMI that requires documenting project experience and education, agreeing to follow the PMI code of ethics, and passing a comprehensive exam
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o project management tools and techniques
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methods available to assist project managers and their teams; some popular tools in the time management knowledge area include Gantt charts, network diagrams, and critical path analysis
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o project sponsor
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the person who provides the direction and funding for a project
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o project portfolio management —
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when organizations group and manage projects as a portfolio of investments that contribute to the entire enterprise’s success

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