1.0 Project Management Fundamental Terms Flashcards
The PMI publication that defines widely accepted project management practices. The CAPM and the PMP exam are based on this book
PMBOK (guide to the project management body of knowledge)
The areas of expertise, industry, or function where a project is centered. examples of application areas include architecture, IT health care, and manufacturing.
Application areas
A quantifiable return on investment. the return can be tangible such as equipment, money, or market share. the return can also be intangible such as brand recognition, trademarks and reputation
Business value
A person who has slightly less project management experience than a PMP. Passed the CAPM exam.
Certified Associate in Project Management (CAPM)
Defines how a project affects people and how those people may affect the project. Cultural and social environments include the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project
Cultural and social environment
A product, service, or result created by a project. Projects can have multiple of these.
Deliverable
These include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.
general management skills
The consideration of thelocal and international laws, languages, communication challenges, time zone differences, and non-collocated issues that affect a project’s ability to progress.
International and political environment
The ability to interact, lead, motivate, and manage people.
Interpersonal skills
A triangle with the characteristics of time, cost, and scope. Time, cost, and scope each constitute one side of the triangle; if any side of the iron triangle is not in balance with the other sides, the project will suffer. Also known as Triple Constraints. All projects are constrained by time, cost, and scope
Iron Triangle of Project Management
The physical structure and surroundings that affect a project’s work
Physical environment
A collection of related processes in project management. There are 5 process groups and 49 project management processes.
Initiating, Planning, Executing, Monitoring, Controlling, and Closing
IPEMCC
Process Groups
A collection of related projects working in unison toward a common deliverable
Program
The process of gathering project details. This process uses deductive reasoning, logic, and series of information-gathering techniques to identify details about a projecct, product, or solution
Progressive elaboration
A temporary endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable
Project
A documented created and maintained by the project sponsor and the project manager. The project benefits management plan defines what benefits the project wll create, when the benefits will be realized, and how the benefits will be measured.
Project benefits management plan
Created and maintained by the project sponsor and shows the financial validity of why a project is chartered and launched within the organization. This is created prior to the launch of a project. May be used a go/no-go decision point.
Project business case
The location and culture of the environment where the project work will reside. The project environment includes the social, economic, and environmental variables the project must work with or around.
Project environment
An organization of project management professionals from around the world, supporting, and promoting the careers, values, and concerns of project managers
Project Management Institute (PMI)
The phases that make up the project. Project life cycles are unique to the type of universal to all projects.
Project life cycle
A central office that oversees all projects within an org or within a functional department. This office supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.
Project Management Office (PMO)
A person has proven project management experience and has qualified for and then passed the PMP examination
Project Management Professional (PMP)
the management and selection of projects that support an organizaton’s vision and mission. It is the balance of project priority, risk, reward, and return on investment. this is a senior management process.
Project portfolio management
A smaller project managed within a larger, parent project. this is contracted work whose deliverable allows the larger project to progress.
Subprojects
