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PMBOK 6th Edition > Ch 1.2: Foundational Elements > Flashcards

Ch 1.2: Foundational Elements Flashcards

1
Q

Project

A

A temporary endeavor to create a unique product service or result (fills objectives by producing results)

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2
Q

Objective

A

an outcome towards which work be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced or a service to be performed

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3
Q

Deliverable

A

any uniye and verifiable product, result or capability to perform a service that is required to be produced to complete a process, phase or project

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4
Q

Deliverables can be both tangible or intangible. True or False

A

True

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5
Q

What are the four deliverables a fulfilled project can produce

A

A unique product, A unique service, A unique result, or Unique combination

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6
Q

Temporary Endeavor

A

A project has a definite beginning and end

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7
Q

True or False? Deliverables never exist beyond the end of a project

A

False, some deliverables may exist after completion of projects

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8
Q

Business Value

A

the benefits that the results of a specific project provides to its stakeholders

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9
Q

What are the four fundamental categories that influences organizational leaders to initiate projects

A

1.Meet regulatory, legal, or social requirements 2. Satisfy stakeholder requests or needs 3. Implement or change business or technological strategies 4. Create improve or fix products processes or services

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10
Q

What are the three scenarios a project may be manged in

A

Stand Alone Project, Within a Program, Within a Portfolio

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11
Q

Program Management

A

the application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available managing a program component individually

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12
Q

Project Management

A

focuses on interdependencies within a project to determine the optimal approach for managing the project

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13
Q

Portfolio

A

projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives

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14
Q

Portfolio management

A

the centralized management of one or more portfolios to achieve strategic objectives

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15
Q

Operations Management

A

being concerned with the ongoing production of goods and/or services. Ensures that business operations continue efficiently by using the optimal resources needed to meet customer demands

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16
Q

True or False? Projects can intersect with operations various points during the life cycle

A

True

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17
Q

How does a Portfolio manager contributes to the achievement of strategic goals

A

They aligns portfolios with organizational strategies by selecting the right programs or projects,
prioritizing the work, and providing the needed resources.

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18
Q

How does a Program Manager contributes to the achievement of strategic goals

A

they harmonizes its program components and controls interdependencies in order to realize
specified benefits.

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19
Q

How does a Project Manager contributes to the achievement of strategic goals

A

they enable the achievement of organizational goals and objectives.

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20
Q

Organizational Project management

A

a framework in which portfolio, program, and project management are integrated with organizational enablers in order to
achieve strategic objectives.

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21
Q

True or False? The purpose of OPM is to ensure that the organization undertakes the right projects and allocates critical resources
appropriately.

A

True

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22
Q

Project Life Cycle

A

The series of phases that a project passes through from its start to its completion

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23
Q

Project phase

A

A collection of logical related project activities that culminates in the completion of one or more deliverables

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24
Q

phase gate

A

A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification or to end a program or project

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25
Q

Project management processes

A

A systematic series of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs

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26
Q

A Project Management Process grouop

A

A logical grouping of project management inputs tools and techniques and outputs. this includes initiation, planning, executing, monitoring and controlling, and closing

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27
Q

Project management knowledge area

A

an identified area of project management defined by its knowledge requirements and described in terms of its component processes , practices, inputs, outputs, tools and techniques

28
Q

Predictive Life Cycle

A

where the project score, time, and cast are determined in the early phases of the life cycle. Any changes to the scope are carefully managed

29
Q

Iterative Life Cycle

A

the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team’s understanding of the product increases.

30
Q

Incremental Life Cycle

A

the deliverable i produced through a series of iterations that successively add functionality within a predetermined time frame

31
Q

Adaptive Life cycle

A

agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration.

32
Q

Hybrid life cycle

A

a combination of predictive and adaptive life cycle.

33
Q

Product life cycle

A

a series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement

34
Q

Initiating Process Group

A

processes performed to define a new project or phase by obtaining authorizatin to start the project or phase

35
Q

planning process group

A

processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.

36
Q

executing process group

A

those processes performed to complete the work defined in the project management plan to satisfy the project requirements

37
Q

Monitoring and Controlling Process Group

A

Processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes

38
Q

Closing Process Group

A

processes performed to formally complete or close the project, phase, or contract

39
Q

Project Integration Management

A

includes the processes and activities to identify, define, combine, unify,
and coordinate the various processes and project management activities within the Project Management
�
Process Groups.

40
Q

Project Scope Management

A

Includes the processes required to ensure the project includes all the work
required, and only the work required, to complete the project successfully.

41
Q

Project Schedule Management

A

the processes required to manage the timely completion of the project

42
Q

Project Cost Management.

A

Includes the processes involved in planning, estimating, budgeting, financing,
funding, managing, and controlling costs so the project can be completed within the approved budget.

43
Q

Project Quality Management.

A

Includes the processes for incorporating the organization’s quality policy
regarding planning, managing, and controlling project and product quality requirements, in order to meet
stakeholders’ expectations.

44
Q

Project Resource Management.

A

Includes the processes to identify, acquire, and manage the resources needed
for the successful completion of the project.

45
Q

Project Communications Management

A

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

46
Q

Project Risk Management

A

Includes the processes of conducting risk management planning, identification,
analysis, response planning, response implementation, and monitoring risk on a project.

47
Q

Project Procurement Management

A

Includes the processes necessary to purchase or acquire products,
services, or results needed from outside the project team.

48
Q

Project Stakeholder Management.

A

Includes the processes required to identify the people, groups, or
organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their
impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders
in project decisions and execution.

49
Q

Work performance data.

A

The raw observations and measurements identified during activities performed to carry out the project work. ie start finished dates, # of projects completed, etc

50
Q

Work performance information.

A

The performance data collected from various controlling processes, analyzed
in context and integrated based on relationships across areas. ie forecast estimates, statues of deliverables, etc

51
Q

Work performance reports

A

The physical or electronic representation of work performance information compiled in project documents, which is intended to generate decisions or raise issues, actions, or
awareness.

52
Q

methodology

A

a system of

practices, techniques, procedures, and rules used by those who work in a discipline.

53
Q

Project business case

A

A documented economic feasibility study used to establish the validity of the benefits
of a selected component lacking sufficient definition and that is used as a basis forthe authorization of further project management activities.

54
Q

Project benefits management plan

A

The documented explanation defining the processes for creating, maximizing, and
sustaining the benefits provided by a project.

55
Q

The person who is generally accountable for the development and maintenance of the project business case
document.

A

Project Sponsor

56
Q

The person responsible for providing recommendations and oversight to keep the project
business case, project management plan, project charter, and project benefits management plan success measures in
alignment with one another and with the goals and objectives of the organization

A

project manager

57
Q

What are some elements included in a business cass

A

Business needs, Analysis of the situation, Recommendations, and Evaluation

58
Q

The project benefits management plan includes:

A

Target benefits, strategic alignment, timeframe for realizing benefits, benefits owner, metrics, assumptions, risks

59
Q

Target benefits

A

the expected tangible and intangible value to be gained by the implementation of the
project; financial value is expressed as net present value

60
Q

Strategic alignment

A

how well the project benefits align to the business strategies of the organization

61
Q

Timeframe for realizing benefits

A

benefits by phase, short-term, long-term, and ongoing

62
Q

benefits owner

A

the accountable person to monitor, record, and report realized benefits throughout the
timeframe established in the plan

63
Q

Metrics

A

the measures to be used to show benefits realized, direct measures, and indirect measures

64
Q

Assumptions

A

factors expected to be in place or to be in evidence

65
Q

project charter

A

a document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.

66
Q

project management plan

A

the document that describes how the project will be executed, monitored,
and controlled.

PMBOK 6th Edition (2 decks)

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