Ch 2 Key Terms & Intro to PM

Question 1

Success

Answer 1

Measured by finishing the project within given limitations of scope, cost, time, quality, resources, and risk

The project can be successful, even if the sponsor is unhappy

Aggregate performance of all components (projects or programs) in portfolio management

Question 2

Baseline

Answer 2

An original plan plus any approved changes

There are three baselines on all projects: scope, time, and cost

All projects are measured against the three baselines

Question 3

Adaptive Life Cycle

(Iterative, Incremental, Agile)

Answer 3

Type of life cycle where the scope is known early, but the time and cost will be refined as the project progresses using iterations of the product

Question 4

Balanced Matrix Organization

(Organizational Structure)

Answer 4

The project manager is part-time and has equal (low to moderate) authority/power with the functional manager over the control of resources

Question 5

Strong Matrix Organization

(Organizational Structure)

Answer 5

The project manager is full-time and has most of the authority/power (moderate to high) over resources (e.g., budget is managed by the project manager)

There is a functional manager, but with very little power

All questions on the exam are based on a strong matrix organizational structure unless otherwise stated

Question 6

Project Management

Answer 6

The application of knowledge, skills, tools, and techniques to project work to meet project requirements

Managing people to accomplish the scope of a project in the given constraints of time and costs

Applying/integrating project management processes as needed throughout the project

Question 7

Organizational Structure

Answer 7

Helps to determine the power and authority level of:

1. The project manager within a company, and
2. Who controls resources needed for projects

An enterprise environmental factor (EEF)

Question 8

Project

Answer 8

A temporary endeavor to create a unique product, service, or result

All have time, cost, and scope limitations Managed by a project manager

Progressively elaborated

Question 9

Phase Gates

(Phase Reviews, Stage/Toll Gates, Kill/Decision Points, Milestones)

Answer 9

Held at the end of each phase of a project to determine if the project is meeting its goals and if the project should continue

Go or no-go decision

Question 10

Customers

Answer 10

The people who acquire the project’s product, service, or result

Accept deliverables

Question 11

Predictive Life Cycle

(Waterfall)

Answer 11

Type of life cycle where the scope, time, and cost are known early in the project

Question 12

Project Oriented Organization

(Projectized)

Answer 12

An organization where the project manager is a full-time position that controls all of the resources

There are no functional managers or functional work

When a project is complete, team members are either released from the company or reassigned to another project

E.g., a consulting firm

Question 13

Outputs

Answer 13

Results of a process

Question 14

Project Life Cycle

Answer 14

The series of phases a project will go through from start to finish

Question 15

Phase

Answer 15

Division within the project where extra control is needed to effectively manage the completion of one or more deliverables

Generally concluded and formally closed with the acceptance of a deliverable

Each has all five process groups of initiating, planning, executing, monitoring and controlling, and closing

Question 16

PMBOK

Answer 16

Project Management Body of Knowledge

Question 17

Knowledge Areas

Answer 17

Specialized areas of project management

Sets of processes that are usually defined by the knowledge needed to manage that area

There are 10:

1. Project Integration Management
2. Project Scope Management
3. Project Schedule Management
4. Project Cost Management
5. Project Quality Management
6. Project Resource Management
7. Project Communications Management
8. Project Risk Management
9. Project Procurement Management
10. Project Stakeholder Management

Question 18

Project Life Cycle

Answer 18

The phases that a project goes through from initiating the project to its closing

The logical breakdown of the work needed to complete the deliverables

Sometimes referred to as the organization methodology for managing projects

All projects, once completed, go to operations

Question 19

Agile

Answer 19

A type of project management that refers to different types of iterative development (e.g., scrum)

Mostly used on software development projects in which there is an agile project charter, a scrum master, a product backlog, sprints (iterations) lasting 1-4 weeks

Question 20

Program

Answer 20

A collection of projects containing a common goal

Managed by a program manager

Question 21

Project Coordinator

Answer 21

Individual working in a functional or weak matrix organization who cannot usually make budget decisions, but can assign resources

Has less decision-making power than a project manager

Question 22

Constraints

Answer 22

Project limitations

All projects are limited by their scope, time, cost, quality, resources, and risk

All major constraints are equally important unless stated otherwise

Question 23

Process Group

Answer 23

A set of processes that the project manager may be doing at a certain time

They interact, overlap, and are iterative

All phases on a project will contain five:

1. Initiating
2. Planning
3. Executing
4. Monitoring and controlling
5. Closing

Question 24

Project Value

Answer 24

The primary reason a company will perform a project

Can be tangible, such as money, or intangible, such as brand reputation

Question 25

Inputs

Answer 25

Things needed to start a process

Question 26

Matrix Organization | (Organizational Structure)

Answer 26

An organization that has characteristics of both functional and projectized organizations

Question 27

Stakeholder

Answer 27

Everyone (any individual or business) that may be positively or negatively affected by the project Examples include: sponsors, customers, users, sellers, organizational groups, functional managers, senior management, program manager, (PMO), project manager, project coordinator, project expeditor, and project team

Question 28

Product Life Cycle

Answer 28

The life cycle that a product goes through from start to end Includes buying a product, installing it, maintaining it, and disposing of it One product life cycle may include many project life cycles

Question 29

Functional Organization

Answer 29

An organization where the project manager has very little power over the resources, because the resources are controlled and managed by the functional manager Project management is part-time Project manager reports to a functional manager When the project is complete, team members go back to their functional duties

Question 30

Project Team

Answer 30

The SMEs who actively work on the project full-time (dedicated) or part-time and create the project’s products, services, or results Led by the project manager

Question 31

Progressive Elaboration | (Rolling Wave Planning)

Answer 31

Discovering greater levels of detail as the project moves toward completion Method by which work to be accomplished in the near term is decomposed and future work is planned at a higher level Iterative process of reviewing scope (amount of work), schedule, and cost A tool used to help execute the Define Activities process (Schedule/Planning)

Question 32

Process

Answer 32

A series of activities with inputs, tools and techniques, and outputs (ITTOs) Can be performed multiple times, sequentially, and/or simultaneously

Question 33

Deliverable

Answer 33

Part of the product that is presented to the customer or stakeholders for acceptance

Question 34

Portfolio

Answer 34

Collection of projects, programs, and operations that achieve a strategic business goal Managed by a portfolio manager

Question 35

Weak Matrix Organization | (Organizational Structure)

Answer 35

The project manager is part-time, managed by a functional manager, and has low authority/power (but a little more than at a functional organization)

Question 36

Project Management Office (PMO)

Answer 36

Provides guidance and support for all project managers in the company to help ensure all projects follow a standard set of processes from start to end. Generally sets up the structure and framework that projects within a business will follow. An Enterprise Environmental Factor (EEF) An important stakeholder on a project that can help in the following ways: * Provides training for project managers on project methodologies. * Defines standards and the best practices for all projects in an organization. * Provides templates for project managers to use. * Helps with approvals or resource gathering. * Defines the project management role. * Provides assistant project managers with the resources needed to complete their projects. * Audits projects

Question 37

Sponsor

Answer 37

An internal or external person who pays for the project May help to initiate and authorize a project Authorizes changes Approves/accepts deliverables

Question 38

Hybrid Organization | (Organizational Structure)

Answer 38

An organization that uses more than one type of organizational structure Example of functional + projectized: A functional organization creates a special unit with a dedicated team working full time to complete an important project

Question 39

Users

Answer 39

The people who directly use the project's product, service, or result Accept deliverables

Question 40

Project Manager

Answer 40

The individual responsible for the project outcome and day-to-day project team management to complete the project (work/deliverables/product) Authorized to use all project resources Usually assigned by the sponsor A primary skill is communicating with the project stakeholders (e.g., understanding needs, gaining feedback). A primary role is performing integration

Question 41

Functional Managers

Answer 41

Individuals who manage and/or lead different organizational groups/functions/departments (e.g., sales, HR, legal, or IT)

Question 42

Project Expeditor

Answer 42

An individual in a functional organization where the project manager is part-time Helps to organize the project work and has no power or responsibility to follow a budget Has less power over a project than either a PM or a coordinator "Pushes things through / expedites things"

Question 43

Operations

Answer 43

The ongoing, day-to-day work in a business that have no start or end date, and are not unique Examples: providing IT support, building cars on an assembly line

Question 44

Tools and Techniques

Answer 44

Things that help you execute a process

Question 45

Project Governance

Answer 45

The framework, functions, and processes that a company will develop internally and follow in order to complete a project and meet its strategic and operational goals.

Question 46

Issue

Answer 46

A problem or conflict