Business Processes Flashcards
What is a project?
A project is a set of tasks that must be completed within a defined timeline to accomplish a specific set of goals
Who is the project sponsor?
The CEO
Who is the ideal project manager?
Project managers shouldn’t be too occupied with other work and should have a position of influence as well as area specialisation such as VP of banking or finance, not the CEO
What is a process owner?
The process owner is the primary contact point for the stakeholders and is responsible for managing the stakeholders’ expectations
Stages of a project
Planning, production, organisation
What is agile methodology?
Agile methodology consists of making sure every process if approved
What are the 3 main things of consideration when planning a project?
Scope, Cost, Time
What is a KPI
Key performance indicators
What is variance analysis
The difference between forecasted financial expectations and actual the actual results
