Cards 10-19

Question 1

How would you describe a project?

Answer 1

• Projects are a temporary endeavor to create a unique product, service, condition or result
• Projects also drive change: moving / adding / changing / deleting (MAC-D)
• There’s often a transition period

Question 2

What kind of business value can a project create?

Answer 2

Tangible (money, things, market share) and intangible (goodwill, reputation, brand recognition) business value

Question 3

List the project management process groups

Answer 3

The 5 process groups are: initiating, planning, executing, monitoring and controlling, and closing

Question 4

What are the 10 knowledge areas?

Answer 4

1. integration
2. scope
3. schedule
4. cost
5. quality
6. resource
7. communication
8. risk
9. procurement
10. stakeholder management

Question 5

What are the stages of the project management life cycle?

Answer 5

IPECC: initiating, planning, executing, controlling, closing

Question 6

What is OPM?

Answer 6

Organizational Project Management: the framework to align project, program, and portfolio management with organizational strategy and objectives

Question 7

What is program management?

Answer 7

Multiple related projects managed to achieve benefits that would not be achieved without all of the parts

Question 8

What is portfolio management?

Answer 8

Portfolios are about maximizing ROI

Typically include programs and projects, there could be sub-portfolios as well

Question 9

What are the responsibilities of a PMO?

Answer 9

Support project managers
Manage shared resources
Coaching – mentoring – training
Conduct project audits
Develop managing processes and procedures
Facilitate communications across projects

Question 10

What are the different types of PMO?

Answer 10

Supporting, controlling, directive