Project Management Chapter 1

Flashcard maker : Henry Smith
Project
a temporary endeavor undertaken to create a unique product, service, or result”
Name 5 Project Attributes
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
Triple Constraint
Successful project management means meeting all three goals (scope, time, and cost) – and satisfying the project’s sponsor!
Project Management
the application of knowledge, skills, tools and techniques to project activities to meet project requirements”
Project Stakeholders:
are the people involved in or affected by project activities.
Name 6 types of stockholders
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
How can Project Success be Measured
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.
best practice
an optimal way recognized by industry to achieve a stated goal or objective
o critical path
the longest path through a network diagram that determines the earliest completion of a project
o enterprise or portfolio project management software
software that integrates information from multiple projects to show the status of active, approved, and future projects across an entire organization
o ethics
a set of principles that guide our decision making based on personal values of what is “right” and “wrong”
o Gantt chart
a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format
o leader —
a person who focuses on long-term goals and big-picture objectives, while inspiring people to reach those goals
o manager
a person who deals with the day-to-day details of meeting specific goals
o program
a group of projects managed in a coordinated way to obtain benefits and control not available from managing them individually
o program manager
a person who provides leadership and direction for the project managers heading the projects within the program
o project manager
the person responsible for working with the project sponsor, the project team, and the other people involved in a project to meet project goals
o Project Management Institute (PMI)
international professional society for project managers
o project management knowledge areas
project integration management, scope, time, cost, quality, human resource, communications, risk, and procurement management
o Project Management Office (PMO)
an organizational group responsible for coordinating the project management functions throughout an organization
o Project Management Professional (PMP)
certification provided by PMI that requires documenting project experience and education, agreeing to follow the PMI code of ethics, and passing a comprehensive exam
o project management tools and techniques
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
o project sponsor
the person who provides the direction and funding for a project
o project portfolio management —
when organizations group and manage projects as a portfolio of investments that contribute to the entire enterprise’s success

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