Ch 1 Flashcards
Work Performance Reports
The formatted communication of work performance information. Reports communicate what’s happening in the project through status reports, memos, dashboards or other modalities
Work Performance Information
The processed and analyzed data that will help the project manager make project decisions
Work Performance Data
Raw data, observations and measurements about project components. Gathered and stored int he project management information system.
Triple Constraints of Project Mangement
AKA Iron Triangle - This theory poses that time, cost and scope are 3 constraints that every project has
Subprojects
A smaller project managed within a larger, parent project. Are often contracted work whose deliverable allows the larger project to progress
Project Portfolio Management
(a senior management process)
The management and selection of projects that support an organization’s vision and mission. It’s the balance of project priority, risk, reward, and return on investment.
Project Management Office (PMO)
A central office that oversees all projects within an organization or within a functional department. Supports the project manager through software, training, templates, polices, communication, dispute resolution and other services.
Project Lifecycle
The phases that make up the project. Project lifecycles are unique to the type of work being performed and are not universal to all projects.
Project Environment
The location and culture of the environment where the project will reside. the project environment includes the social, economic, and environmental variables the project must work with or around.
Project Business case
Created and maintained by the the project sponsor and shows the financial validity of why a project is chartered and launched within the organization. Typically, the project business case is created before the launch of the project and may be used as a go/no-go decision point.
Project benefits management plan
A document created and maintained by the project sponsor and the project manager. The project benefits management plan defines what benefits the project will create, when the benefits will be realized and how the benefits with be measured.
Project
A temporary endeavor to create a unique product, service or result. the end result of a project is also called a deliverable.
Application Areas
The areas of expertise, industry, or function where a project is centered, Examples: architecture, IT, healthcare and manufacturing
Business Value
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.
Cultural and Social Environment
Defines how a project affects people and how those people may affect the project. Cultural and social environments include the economic, education, ethical, religious demographic and ethnic composition of the people affected by the project.
Deliverable
A producet, service, or result created by a project. Projects can have multple deliverables.
General Managment Skills
These include the application of accounting, procurement, sale s and marketing, contracting, manufacturing logistics, strategic planning. human resource management, standards and regulation and information technology.
International and political envirment
The consideration of the local and international laws, lanaguages, communication challenges, time zone differences, and other non-collocated issues that affect project’s ability toprogress.
Interpersonal Skills
The abaility to interact, lead, motivate and manage people
Iron Triangle of Project Management
A triangle with the characteristics of time, cost and scope. Time, cost scope each constitue one side of the triangle; if any side of the Iron Triangle is not in balance with the other sides, the project will suffer. The Iron Triangle of Project Managment is also known as the Triple COnstraints of Project Managment, as all procets are constrained by time cost and scope.
Physical Environment
The physical structure and surroundings that affect a project’s work
Process Groups
A collection of related processes in project managemnt. THere ar 5 process groups and 49 project management processes. The 5 rpocess groups are initiating, planning, executing, monitoring and controlling and closing.
Program
A collection of related projects working in unison tlward a common deliverable.
Progressive Elaboration
The process of gathering project details. This process uses deductive reasoning, logic and a series of information gathering techniques to identify details about a project, product or solution.
