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PMP > Ch. 1 Intro > Flashcards

Ch. 1 Intro Flashcards

1
Q

Project

A

A TEMPORARY ENDEAVOR undertaken to create a unique product, service, or result.

Definite beginning or end to fulfill objectives by producing deliverables (tangible or intangible)

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2
Q

End of a project is reached when…

A

objectives achieved

objectives cannot be met

funding exhausted or not available

need for project no longer exists

resources not available

terminated for legal cause or convenience

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3
Q

4 Qualities of projects

A
  1. Create UNIQUE product/service/result
  2. Temporary Endeavor
  3. Drive Change (moves from current to future state)
  4. Enables Bus. value creation (benefit that result provides to stakeholders)
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4
Q

4 factors that cause project to start

A
  1. Regulatory/legal/social (guidelines for handling toxic materials)
  2. Stakeholder request (stakeholder wants new output)
  3. Implement/Change business/tech strategy (lower price from competitor means lower cost to remain competitive)
  4. Create/improve/fix product/process/service (create a new course to increase revenue)
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5
Q

Project Management

A

Application of knowledge, skills, tools and techniques to project activities to meet project requirements

Accomplished thru appropriate application of PM processes as they pertain to a project

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6
Q

Effective Project Management helps…

A 
Meet bus objectives
satisfy stakeholder expectations
predictable
increase success
deliver project on time
resolve problems
respond to risk quickly
optimize resources
identify/recover/terminate failing projects
manage constraints (scope/quality/schedule/cost/resources)
balance influence of constraints
manage change
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7
Q

INeffective Project Management may result in…

A 
missed deadlines
cost overruns
poor quality
rework
uncontrolled expansion
loss of reputation
unsatisfied stakeholders
failure in achieving objectives
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8
Q

List PM Knowledge Areas

A

(10)
Integration
Scope
Schedule

Cost
Quality
Resources

Communication
Risk
Procurement
Stakeholders

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9
Q

List Process Groups

A 
(5)
Initiating
Planning
Executing
Monitoring and Controlling
Closing
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10
Q

Define “Process Groups”

A

Logical grouping of PM processes (inputs, tools and techniques, outputs) to achieve specific project deliverables

Process Groups ARE DIFFERENT than Project Phases

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11
Q

Define “Project Phase”

A

Collection of logically related project activities that culminate in the completion of +1 deliverable (phase review; stage gate; kill point; phase exit)

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12
Q

List Project Phases

A 
(4)
Starting the project
Organizing and preparing
Carrying out work
Ending the project
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13
Q

Define “Phase Gate”

A

A review at the end of a phase. Decision to continue to next phase, continue with modification or END program/project

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14
Q

Define “PM Processes”

A

A systematic series of activities directed toward causing an end result where 1+ inputs are acted upon by tools/techniques to create outputs

processes are linked by outputs they produce and may contain overlapping activities

output of 1 process = input to another process or deliverable

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15
Q

Program Management

A

Application of knowledge, skills, and principles to a program to achieve program objectives & obtain benefits & control not available by managing program components individually.

Focus on interdependence between projects to determine optimal approach

Problem DOES NOT = a large project

Ex) New communications satellite system with projects for the DESIGN of the satellite, LAUNCH of the satellite, and the INTEGRATION of the system.

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16
Q

Define Portfolio

A

Projects/programs/subsidiary portfolios/operations managed as a group to achieve strategic objectives

17
Q

Define Portfolio Management

A

Centralized mgmt of 1 or more portfolios to achieve strategic objectives. Programs/projects of the portfolio may NOT be interdependent or directly related

18
Q

Initiating Process Group

A

Processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase

19
Q

Planning Process Group

A

Processes required to ESTABLISH SCOPE of the project, REFINE OBJECTIVES, and DEFINE THE COURSE of action required to attain the objectives that the project was undertaken to achieve

20
Q

Executing Process Group

A

Processes performed to COMPLETE THE WORK defined in the PM Plan to satisfy project requirements

21
Q

Monitoring and Controlling Process Group

A

Processes required to:

  1. TRACK, REVIEW, & REGULATE the progress and performance of the project;
  2. Identify any areas in which CHANGES TO THE PLAN are required
  3. INITIATE corresponding CHANGE
22
Q

Closing Process Group

A

Processes performed to FORMALLY COMPLETE or close project/phase/contract

23
Q

Define PM Knowledge Area

A

Identified area of PM define by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools and techniques.

24
Q

Project Integration Management

A

Processes and activities to IDENTIFY, DEFINE, COMBINE, UNIFY & COORDINATE the various processes and PM activities within the PM Process groups

25
Q

Project Scope Management

A

Processes required to ensure the project includes all the work required and only the work required to complete the project successfully

26
Q

Project Schedule Management

A

Processes required to manage the timely completion of the project

27
Q

Project Cost Management

A

Processes involved in PLANNING, ESTIMATING, BUDGETING, FINANCING, FUNDING, MANAGING, & CONTROLLING COSTS so the project can be completed within the approved budget

28
Q

Project Quality Management

A

Processes for incorporating the org quality policy regarding planning, managing and controlling project/product quality requirements in order to meet stakeholder expectations

29
Q

Project Resource Management

A

Processes to IDENTIFY, ACQUIRE, & MANAGE resources needed for the successful completion of the project

30
Q

Project Communications Management

A

Processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring & ultimate disposition of project information.

31
Q

Project Risk Management

A

Processes for conducting risk mgmt planning, identification, analysis, response planning, response implementation, and monitoring risk on a project

32
Q

Project Procurement Management

A

Processes necessary to PURCHASE or ACQUIRE products/services/results needed from outside project team

33
Q

Project Stakeholder Management

A

Processes required to:

  1. ID ppl/groups/org that could impact or be impacted by the project
  2. ANALYZE stakeholder expectations and impact on project
  3. DEVELOP MGMT STRATEGIES for effectively engaging stakeholders in project decisions and execution

PMP (3 decks)

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