91 terms

Project Management Test 2


Terms in this set (...)

Project Scope
everything about a project-work content as well as expected outcomes. Names all activities to be performed
Scope Management
function of controlling a project in terms of its goals and objectives through the process of conceptual development, full definition, execution, and termination
Conceptual Development
process that addresses project objective by finding the best ways to meet them
Problem or Need Statement
Why is there a need? (what a project does)
Requirement Gathering
demands, needs, and specifications for product as outlined by project stakeholders
List of customer needs
Must understand any restrictions that may affect project development
Business Care
organization justification for committing to the project. Should demonstrate business need for a given project
Confirm project is feasible before expending funds
Consider strategic internal and external forces affecting the project
Asses and compare the costs of choosing the project over other courses of action
Provide time estimate for when we expect to be spending investment dollars on the project
Statement of Work (SOW)
detailed narrative description of the work required for a project
Contain information on key objectives for the project, brief and general description of the work to be performed, expected project outcomes, and any funding or schedule constraints
Is an important component of conceptual development
describes the project in very general terms, why project is being pursued, and how it relates to other projects
provide concise overview of the project and how the results or end products will be used
covers general scope of work the contractor will be performing
Project Charter
document issued by the project initiator or sponsor that formally sanctions the existence of the project and authorizes the project manager to begin applying organizational resources to project activities
Scope Statement
reflects a project team's best effort at creating the document and approval of all important project parameters prior to proceeding to development phase
any measurable, tangible, verifiable outcome, result, or item that must be produced to complete a project or part of a project
Work Packages
WBS elements of the project that are isolated for assignment to "work centers" for accomplishment
○ Smallest indivisible components of a WBS
WBS Codes
assigned by accountants to track activities of a project
Organization Breakdown Structure
allows company to define work to be accomplished and assign it to the owners of the work packages. Benefit is that it allows for better initial linking of project activities and their budgets
Responsibility Assignment Matrix (RAM)
Also called a linear responsibility chart
Summarizes the tasks to be accomplished and who is responsible for what on the project
Lists project activities and participants
Clarifies critical interfaces between units and individuals that need coordination
Provide an means for all participants to view their responsibilities and agree on their assignments
Clarifies the extent or type of authority that can be exercised by each participant
Work Authorization
consists of formal sign-off on all project plans, including detailed specifications for project delivery
For external work, typically addresses contractual obligation
For internal work, means establishing an audit trail by linking all budget and resource requirements to the formal cost accounting system of the organization
Turnkey Contracts
project organization assumes all responsibility for successful performance
Cost-Plus Contracts
fix the company's profit for a project in advance
Scope Reporting
determines the types of info that will be regularly reported, who will receive copies of this information and how this information will be acquired and disseminated
Information commonly included: cost status, schedule status, and technical performance status
Configuration Control
monitor emerging project scope against original baseline
Design Control
monitor project's scope, schedule, and costs during the design stage
Trend Monitoring
process of tracking the estimated costs, schedules, and resources needed against those planned
Purpose Statement
A concise statement that explains "why" the project is being done
Period of Performance
Specifies when the work is expected to start and end, working hours, and related schedule information.
refers to the degree of mutual attraction that team members hold for one another and their task
team's comfort level with each individual member
Team Interdependence
state where team members' activities coordinate with and compliment other team members' work
Dysfunctional Behavior
refers to the disruptive acts of some project team members due to personality issues, hidden agendas, or interpersonal problems
process or approaches used to mold a collection of individuals into a coherent project team
natural reactions members have to the initial ground rules
members establish mutually agreed upon practices
Actual work is done
recognizes fact that projects and teams don't last forever
Punctuated Equilibrium
rather than evolution occurring as a steady state of gradual change, real natural change comes about through long periods of stasis
Suggests initial impressions are long lasting
Virtual Teams
use electronic media to teleconference
process that is predicated on a manager's ability to use his influence productively
Much of a project manager's life is taken up in bargaining sessions
Represents art of influence taken to highest level
Principled Negotiation
art of getting agreement with the other party while maintaining a principled, win-win attitude
Goal Oriented Conflict
Conflict is associated with disagreements regarding results,, project scope outcomes, performance specifications, criteria
Administrative Conflict
conflict arises through the administrative hierarchy, organizational structure
Interpersonal Conflict
conflict occurs with personality differences between project team members and / or stakeholders
C-Type (cognitive) conflict
focuses on problem- and issue-related differences of opinion
willingness to examine, compare, reconcile differences to produce the best possible solution
A-Type (affective) Conflict
emotional reaction that can occur when disagreements become personal
hostility, anger, resentment, distrust, cynicism, apathy
Network Diagram
schematic display of the project's sequential activities and the logical relationships between them
Work Breakdown Structure (WBS)
task-oriented "family tree" of activities that organizes, defines, and graphically displays the total work to be accomplished in order to achieve the final objectives of the project
Project Network Diagram
any schematic display of the logical relationships of project activities
sequence of activities defined by the project network logic
one of the defining points of a network; a junction point joined to some or all of the others by dependency lines
those activities that must be completed prior to initiation of a later activity in the network
activities that cannot be started until previous activities have been completed
Forward Pass
network calculations that determine the earliest start/earliest finish time for each activity
Backward Pass
calculation of late finish times for all uncompleted network activities
Merge Activities
activity with two or more immediate predecessors
Burst Activity
activity with two or more immediate successor activities
Critical Path
path through the project network with the longest duration
Critical Path Method
network analysis technique used to determine the amount of scheduling flexibility on various logical network paths in the project schedule network, and determine the minimum total project duration
Resource Limited Schedule
project schedule whose start and finish dates reflect expected resource availability
Program Evaluation and Review Technique (PERT)
an event and probability based network analysis system generally used in projects where activities and their durations are difficult to define
Serial Activities
those that flow from one to the next, in sequence
Concurrent Activities
when the nature of the work allows for more than one activity to be accomplished at the same time
technique that allows us to redraw the activity network to more closely sequence project subtasks to make the overall network sequence more efficient
Hammock Activities
used as summaries for some subsets of the activities identified in the overall project network
Allows the project team to better disaggregate the overall project network into logical summaries
Risk Management
art and science of identifying, analyzing, and responding to risk factors throughout the life of a project and in the best interests of the objectives
Project Risk
an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost, or quality
Event Risk
=(probability of event) (Consequences of event)
Risk Identification
process of determining the specific risk factors that can reasonably be expected to affect your project
Financial Risk
financial exposure a firm opens itself to when developing a project
Technical Risk
the greater the level of technical risk, the greater the possibility of project underperformance in meeting specification requirements
Commercial Risk
uncertainty that companies may willingly accept, given that it is virtually impossible to accurately predict customer acceptance of a new product or service venture
Execution Risk
broad category that seeks to assess any unique circumstances or uncertainties that could have a negative impact on the execution of the plan
Contractual or Legal Risk
often consistent with projects in which strict terms and conditions are drawn up in advance
Brainstorming Meetings
bringing members of the project team, top management, and even clients together for a brainstorming meetings can generate a good list of potential risk factors
Is a qualitative idea
Must be free of judgement ,criticism, and pressure to conform
Expert Opinion
Delphi approach collects and consolidates judgements of isolated anonymous respondents
basically look at previous similar projects to identify risk
Multiple (or Team-Based) Assessments
collaborative approach can help persuade half-convinced or uncommitted members of the team to support the goal
Analysis of Probability and Consequences
potential impact of these risk factors, determined by how likely they are to occur and the effect they would have on the project if they did occur
Risk Mitigation Strategies
steps taken to minimize the potential impact of those risk factors
Accept Risk
Do this when risk is sufficiently small or impact so minor that they are judged acceptable and ignored
Minimize Risk
Adopt strategies that allow it to minimize the risk
Share Risk
Jointly accept risk with someone else or partner
Transfer Risk
Use methods such as Fixed-Price Contracts-contracts establish a fixed price for the project upfront
Another method is Liquidated Damages-represent project penalty causes that kick in a mutually agreed-on points in the project's development and implementation
Contingency Reserves
most common method to mitigate project risk
They are defined as the specific provision for unforeseen elements of cost within the defined project scope
Task Contingency
most common form of contingency reserve, used to offset budget cutbacks, schedule overruns, or other unforeseen circumstances accruing to individual tasks or project work packages
Managerial Contingency
budget safety measure that address higher-level risks
Used for things such as potentially disastrous "acts of God"
can be useful means of risk mitigation, particularly for projects such as construction
Control and Documentation
creating a knowledge base for future projects based on lessons learned
Document should identify: who, what, when, why, and how
Risk Breakdown Structure (RBS)
source oriented grouping of project risks that organizes and defines the total risk exposure of the project
Project Risk Analysis and Management (PRAM)
presents a generic methodology that can be applied to multiple project environments and encompasses the key components of project risk management
Ultimate benefit is that they present a systematic alternative to ad hoc approaches to risk assessment
Plant, Resource Investigator, Co-ordinator, Shaper, Monitor Evaluator, Team Worker Implementer, Completer, Specialist
Belbin's 9 team roles