Upgrade to remove ads
PMBOK Ch. 1 - Introduction
Terms in this set (46)
Define "generally recognized"
The knowledge and practices described are applicable to most projects most of the time, and there is a consensus about their value and usefulness
Define "good practice"
There is general agreement that the application of the knowledge, skills, tools, and techniques can enhance the changes of success over many projects. Does not mean they should be applied uniformly to all projects.
A temporary endeavor undertaken to create a unique product, service, or result.
When does a project end?
1. Project's objectives have been achieved
2. Project is terminated because its objectives will not or cannot be met
3. When the need for the project no longer exists
4. Terminated by client
If the project is temporary is the product, service, or result also temporary?
No. Example a building can last many years.
Can project outcomes be intangible?
What level of the organization are projects undertaken?
Any and all. Can be one person or many people. One org unit or multiple units
Collection of projects, programs, subportfolios, and operations managed as a group to be achieve strategic objectives
These do not have to be interdependent or directly related
A group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually
How does organizational planning impact projects?
1. Project prioritization - based on risk, funding, and other considerations relevant to the organization's strategic plan
2. Resources - direct the management of resources
3. Support - For the component projects on the basis of risk categories, specific lines of business, or general types of project (ex:infrastructure, process improvement, etc.)
Define "project management"
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
What are the five Process Groups
4. Monitoring and Controlling
Competing project constraints
Define "progressive elaboration"
Continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available
Benefit of progressive elaboration
Allows a PM team to define work and manage it it to a greater level of detail as the project evolves
Organizational Project Management. OPM is a strategy execution framework utilizing project, program, and portfolio management as well as organizational enabling practices to consistently and predictably deliver organizational strategy producing better performance, better results, and a sustainable competitive advantage
What are portfolio, program, and project management aligned with or driven by?
How does portfolio management align with organizational strategies?
By selecting the right programs or projects, prioritizing work, and providing necessary resources
How does program management align with organizational strategies?
Harmonizes its projects and program components and controls interdependencies in order to realize specified benefits
How does project management align with organizational strategies?
Develops and implements plans to achieve a specific scope that is driven by the objectives of the program or portfolio it is subjected to and ultimately the organizational strategies
Define "program management"
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.
How are projects within a program related?
Through the common outcome or collective capability.
But if the relationship is that of a shared client, seller, technology or resource, they should be managed as a portfolio
What does program management focus on?
Project interdependencies and helps to determine the optimal approach for managing them
Define "portfolio management"
The centralized management of one or more portfolios to achieve strategic objectives
Aligns components to the organizational strategy
What does portfolio management focus on?
1. Ensuring the projects and portfolios are reviewed to prioritize resource allocation
2. That the management of the portfolio is consistent with and aligned to organizational strategies
Strategic considerations with which projects are authorized
Project Management Office. Management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques
What is a Supportive PMO?
Provides a consultative role to projects by supplying templates, best practices, training, access to information, and lessons learned from other projects
Serves as a Project Repository
Degree of control = low
What are the three types of PMO?
What is a Controlling PMO?
Provide support and require compliance through various mean. Compliance may involve adopting project management frameworks or methodologies, using specific templates, forms and tools, or conformance to governance.
Degree of control = moderate
What is a Directive PMO?
Take control of the projects by directly managing the projects.
Degree of control = high
Ways a PMO may support a PM?
* Managing shared resources
* Identifying and developing PM methodologies, best practices, standards
* Coaching, mentoring, training, oversight
* Monitoring compliance with PM standards
* Developing and managing project policies, procedure, templates, and shared documentation
* Coordinating communication across projects
What is Operations Management responsible for?
Overseeing, directing, and controlling business operations
Where can projects and operations intersect?
* At each closeout phase
* When developing a new product, upgrading, a product, or expanding outputs
* While improving operations or the product development proecess
* Until the end of the product life cycle
During these intersections, deliverables and knowledge are transferred between projects and operations
Ongoing endeavors that produce repetitive outputs with resources assigned to do basically the same set of tasks according to the standards institutionalized in the product life cycle
Define "Operations Management"
An area of management concerned with ongoing production of goods and/or services.
Involves ensuring business operations continue efficiently. Concerned with managing processes that transform inputs into outputs
Project-based Organizations. Various organizational forms that create temporary systems for carrying out their work. The majority of work is conducted as projects.
May have functional support areas. May be nested within subsidiaries of larger corporations
What does a PM do if the project goals conflict with established organizational strategy?
Document and identify such conflicts as early as possible in the project
Define "Business Value"
The entire value of the business; the total sum of all tangible and intangible elements
Tangible element examples: monetary assets, fixtures, stockholder equity, and utility
Intangible element examples: good will, brand recognition, public benefit, and trademarks
Examples of organizational enablers
Human Resources practices
Define "project manager"
Person assigned by the performing organization to lead the team that is responsible for achieving the project objectives
PM reporting structure (high level)
may report to a functional manager. maybe one of several PM who report to a program or portfolio manager
Needs a PM may be responsible to satisfy
PM becomes the link between strategy and the team
Project management competencies
In addition to area-specific skills and general management proficiencies
Knowledge - of project management
Performance - what a PM can do or accomplish while applying knowledge
Personal - refers to how the project manager behave with when performing the activity
Three major PM skill groups
Helps to analyze situations and interact appropriately
Examples of interpersonal skills
Political and cultural awareness
THIS SET IS OFTEN IN FOLDERS WITH...
PMBOK - Ch 2. Org Influences and PLC
RMC Chpt 2 - Project Mgmt Framework
RMC Chpt 3 - Project Management Processes
Chpt 4 - Project Integration Management
YOU MIGHT ALSO LIKE...
PMBOK 5 th - Chapter 1 - Introduction
PMBOK 5th Edition, Chapter 1
OTHER SETS BY THIS CREATOR
Terminology for Work
Business Architecture by Hadaya and Gagnon
Project Management Processes
Chpt 10 - Project Communications Management
OTHER QUIZLET SETS
crju 202 chap 10
MGT 301 Exam 2
CAPM Study Guide