Section 2 – Project Management Concepts – Flashcards
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A project is a temporary endeavor undertaken to create a unique
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product, service, or result.
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A project has a definite
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beginning and a definite, measurable end.
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A project has reached its end when any of the following are true:
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- The goals and objectives of the project have been achieved - all the deliverables have been completed. - It becomes evident that the project objectives will not or cannot be achieved. - There is no longer a need for the project. - The project has been terminated.
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A project is unique
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it involves something that has not been done previously. It night or might not include repetitive activities.
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Progressive elaboration means
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that the ability to provide detailed information about project constraints, issues, needs, etc., and increases as work progresses.
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Project management is the application of
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knowledge, skills, tools, and techniques to project activities to meet project requirements.
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The five Process Groups:
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- Initiating - Planning - Executing - Monitoring & Controlling - Closing
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Portfolios are defined as
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projects, programs, sub-portfolios, and operations managed as a group to achieve strategic objectives.
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A program is a
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group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually.
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Subprojects are used when
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you need to break down a project into smaller, more manageable components.
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PMO
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Project Management Office
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Project Management Office is an
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organizational structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques.
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A Project Management Office (PMO) is a... (3 things)
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- A central area for project personnel, who can be loaned out to projects on an as-needed basis (sharing of resources). - A center for documentation, templates, project policies, and other common organization tools and techniques needed for project support. - A center for the determination and implementation of project standards.
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What are the Triple Constraints?
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- Time - Scope - Cost
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What is a Constraint?
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A constraint is any restriction or limitation that will affect the performance of the project, or even the time when an activity can be scheduled.
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What are 3 constraints in addition to the Triple Constraint?
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- Quality - Resources - Risk
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Projects are typically authorized as a result of one or more of the following strategic considerations (7):
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- Market Demand - Strategic Opportunity/Business - Social Need - Environmental Consideration - Customer Request - Technological Advance - Legal Requirement
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3 types of PMO structures within organizations:
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- Supportive - Controlling - Directive
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A Supportive PMO
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provide a consultative role to projects by supplying templates, best practices, training, access to information and lessons learned from other projects.
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A Controlling PMO
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provide support and require compliance through various means.
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A Directive PMO
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take control of the projects by directly managing the projects. the degree of control provided by the PMO is high.
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The project manager manages:
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the constraints (scope, schedule, cost, quality, etc.) of the individual projects.
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The PMO manages
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the methodologies, standards, overall risks/opportunities, metrics, and interdependencies among projects at the enterprise level.
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Project managers should possess the following competencies
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- Knowledge - Performance - Personal
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Business value is defined as
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the entire value of the business, the total sum of all tangible and intangible elements
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Operations are
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ongoing endeavors that produce repetitive outputs
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PBO
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Project-Based Organizations
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The different types of organizations of PBOs
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- Functional - Mixed - Projectized
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What are the 3 types of Matrix Organizations?
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- Weak - Balanced - Strong
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In a Functional Organization, the ____________ has complete control
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Functional Manager
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In a Projectized Organization, the _____________ has complete control
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Project Manager
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In a Matrix Organization, the ____________ share control
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Functional Manager & Project Manager
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Organizational Process Assets (OPAs) are
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the plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization.
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Organizational Process Assets (OPAs) include the following:
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- Standards and policies - Performance Measurement Criteria - Templates - Change Control Procedures - Communication requirements - Procedures for financial controls, change control, issue and defect management, risk control, and project closure - Project Files - Historical information and lessons learned - Databases for financials, configuration management, issues, and defects
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Enterprise Environmental Factors (EEFs) refer to
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conditions, not under the control of the project team, that influence, constrain, or direct the project.
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Enterprise Environmental Factors (EEFs) include the following:
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- Government and industry standards - Organizational culture and structure - Existing Infrastructure - Existing Human Resources - Personnel Administration - Marketplace Conditions - Stakeholder Risk Tolerances - Commercial databases - Project Management Information System (PMIS)
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An Example of a "Project Management Information System" (PMIS) would be:
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Microsoft Project
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A stakeholder is
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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.
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Project Governance
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The alignment of the project with stakeholders' needs or objectives.
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Stakeholder identification is a continuous
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process throughout the entire project life cycle
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Example of project stakeholders are:
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- Sponsor - Customers and users - Sellers - Business Partners - Organizational Groups - Functional Managers - Other stakeholders
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Predictive Life Cycle (plan-driven)
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the product and deliverable are defined at the beginning of the project and any changes to scope are carefully managed.
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Adaptive Life Cycle (change-driven / agile)
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the product is developed over multiple iterations and detailed scope is defined for each iteration only as the iteration begins.
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The 4 characteristics of the Project Life Cycle:
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- Starting the Project - Organizing and Preparing - Carrying out the Project work - Closing the Project
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Cost and staffing levels are _____ at the start
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low
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Cost and staffing levels are at their _____ when the work is being carried out
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peak
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Cost and staffing levels _____ when the project draws to a close
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drop rapidly
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Risk and uncertainly are _____ at the start of the project
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greatest
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The 2 Phase to Phase relationships
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- Sequential - Overlapping
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In a Sequential relationship:
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a phase starts only when the previous phase is complete
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In an Overlapping relationship:
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a phase starts prior to completion of the previous one.
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Iterative and incremental life cycles are
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ones in which project phases intentionally repeat one or more project activities as the project team's understanding of the project increases
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What is the normal duration of a Adaptive Life Cycle (Agile)?
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2 - 4 weeks, known as sprints.
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A "tight matrix organization" refers to what?
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colocating the project team
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Standards are ______, Regulations are ________.
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Optional, required
