2 PM Framework Flashcards
Project Management is…
...the application of knowledge, skills, tools and techniques to meet project requirements.
A project is…
… a temporary endeavour undertaken
to create a unique product, service or result
A program …
… is a group of related projects
that can help coordinate the management of those projects thus adding value.
A portfolio …
... is a group of programs, individual projects, and other related operational work that are prioritized and implemented to achieve a specific strategic business goal
Project Management Office…
… is a departmental unit within an organization
that centralizes and standardizes the management of projects.
A stakeholder is…
… any person,
group or
organization
whose interests may positively or negatively
impact or
be impacted
by a project, its activities, decisions, and results or its product.
- Can be external or internal to the project or the sponsoring organization
- Different stakeholders can have competing expectations or conflicting objectives
A constraint…
… is any factor that limits options for how to plan and execute the project work, especially
- time,
- cost,
- scope,
- quality,
- risk,
- resources, and
- customer satisfaction.
Constraints are directly or indirectly prioritized by the management to help
evaluate competing demands and
change requests
Enterprise environmental factors
Conditions that influence, constrain or direct the project (e.g. company culture, existing systems, marketplace conditions)
They are outside the control of the project team.
Organizational process assets
Existing
plans,
processes,
policies,
procedures, ("Processes and Procedures")
and
historical information ("Corporate Knowledge Base")
that provide direction and guidance in planning and
help a project benefit from past company experience
Work performance data
Work performance information
Work performance reports
Work performance data
= Initial measurements and details about activities gathered during project work (executing)
Work performance information
= Analysed data to assess if they conform to project management plan and
what they mean for the project (controlling)
Work performance reports
= Information organized into reports
that are distributed to the stakeholders to generate discussions or raise issues, actions, or awareness
Functional organizational structure
“Silo”:
Specialization within functional areas:
- Each employee has one clear souperior
- Information requests are transmitted via the functional department heads
- Team members complete project work in addition to departmental work
Projectized organizational structure
“No home”:
Entire organization is organized by projects:
- Project manager has control of the project
- Team members report to the project manager
- Team members complete only project work
- Communication mainly within the project
Matrix organizational structure
“Two bosses”:
- Team members report to both the project manager and the functional manager
- Communication to both bosses
- Team members complete project work in addition to normal departmental work
Project Life Cycle
… is the sequential series of phases that a project passes through from its initiation to its closure.
Varies based on the industry, organization, and the type of product, service or result being developed
Project management process
... is the collection of management efforts of initiating, planning, executing, monitoring & controlling, and closing the project
Is always the same regardless of the individual project
Project governance
… is the
alignment of the project
with stakeholders’ needs, expectations or objectives
Framework which allows decisions that satisfy both stakeholders’ needs and organizational strategic objectives
Project Manager
… is the person assigned by the performing organization
to lead the team that is responsible for achieving the project objectives
is responsible and accountable for setting realistic and achievable boundaries for the project and
to accomplish the project within the approved baselines
Project phase
… is a collection of logically related project activities
that culminates in the completion of one or more pecific major deliverables
Typical phases are:
- Starting the project (“Initiating”)
- Organizing and preparing (“Planning”)
- Carrying out the work (“Executing”)
- Closing the project (“Closing”)
Predictive life cycle
Also “traditional”, “waterfall”, “fully plan-driven”
- Scope, time and cost is determine in detail early in the project
- Series of phases trough which the project tea procees to execute the plan
Preferred when
- the product to be delivered is well understood
- there is a substantial base of industry practice
- the product is to be delivered in full to have value to stakeholders
Iterative and incremental life cycles
- Early planning of high-level scope to create preliminary estimates of time and cost
- Project phases intentionally repeat project activities as the project team’s understanding of the product increases
> Incremental approach:
In each iteration a complete usable portion of the product is delivered adding functionality
> Iterative approach:
In each iteration the product is built up in successive levels of detail to create the end result
Preferred when:
- project objectives and scope are changing
- the project is complex
- partial delivery of a product provide value for stakeholders
Adaptive life cycle
Also “change-driven” or “agile”
- Fixed time and costs,
Scope is broadly defined, but refined as the project progresses - Scope is decomposed into customer requirements and prioritized in a product backlog
- Customer can change and re-prioritize the requirements within the cost and time constraints
- Work is planned in brief iterations,
at the end of each iteration there must be a reviewable and potentially deliverable outcome
Preferred when
- the project environment changes rapidly
- requirements and scope are difficult to define in advance
- small increments deliver value to stakeholders
