1 2 3 Intro, Environment, PM Role Flashcards
What is a project?
Temporary endeavour to create a unique product, service or result
Drive change
Business value creation
Context: regulatory, social, legal requirements
Satisfy stakeholder needs
Importance of project management
Meet objectives, satisfy stakeholder expectations, more predictable
Poorly managed:
Missed deadlines
Cost overruns
Poor quality
Project, program, portfolio and operations management
Projects grouped together into a program
Portfolio: to manage multiple programs and projects
OPM
Organizational project management
Aligns portfolio with strategic decisions
Development life cycles (5)
Predictive: scope time cost determined early
Iterative: scope determined early, time and cost modified
Incremental: deliverable produced through a series of iterations that add functionality
Adaptive (agile, iterative, incremental): scope is determined early. Change driven life cycles
Hybrid: predictive and adaptive, some elements are well defined (predictive) and others not (adaptive)
Project Phase
Collection of logically related project activities
Phase gate
Held at the end of the phase,
Performance and progress is compared to project and business documents like project business case, project charter, project management plan, benefits management plan
ProjectManagement process
Provide one or more outputs from one or more inputs using appropriate tools and techniques
Process are:
Used once or at predetermined points
Performed periodically as needed
Performed through out the project
Process groups
Initiating Planning Executing Monitoring and controlling Closing
Initiating process group
Define a new project or new phase of existing
Obtaining authorization to start the project or phase
Planning process group
Establish the scope of the project
Refine objectives
Define the course of action
Executing process group
Complete the work defined in the project management Plan
Monitoring and controlling process group
Track, review, and regulate the progress and performance
Identify areas in which changes to the plan are required, initiate the corresponding changes
Closing process group
Formally close or complete the project, phase or contract
PM knowledge areas
Integration Scope Schedule Cost Quality Resource Communication Risk Procurement Stakeholder
Project Integration Management
Processes and activities to identify, define, combine, unify and coordinate processes
Project Scope Management
Processes required to ensure the project includes all the work and only the work required to complete the project
Project Schedule Management
Processes for the timely completion
Project Cost Management
Processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs
Project Quality Management
Organizations quality policy regarding planning, managing, and controlling project and product requirements
Project Resource Management
Processes to identify, acquire, and manage the resources needed
Project Communications Management
Processes to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring and disposition of project information
Project Risk Management
Process of conducting risk management planning, identification analysis response planning, response implementation, and monitoring risk on a project
Project Procurement Management
Processes necessary to purchase or acquire products services or results needed from outside the project team
