Chap 1. Intro

Question 1

What is a Project?

Answer 1

A temporary endeavor that create a unique service, product or result.

Question 2

Business Value

Answer 2

The net benefit that is quantifiable and derived from a business effort. (Can be tangible, intangible or both)

Question 3

4 contexts that projects are initiated

Answer 3

1. To meet regulatory, social, legal issue.
2. To satisfy stakeholder requests/needs
3. Implement or change business/technological strategies
4. create, update, fix products/services

Question 4

What is Project Management?

Answer 4

The application of knowledge, skills, tools, techs to project activities that meet that project requirement.

Question 5

What is a Program?

Answer 5

a group of related projects, subsidiary programs and program activities managed in a coordinated manner to obtain benefits not available from managing them individually

Question 6

what is a Portfolio?

Answer 6

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

Question 7

Why grouping projects into a program or a portfolio?

Answer 7

They often engage with the same stakeholders and may need the same resources. An increase of coordination is needed within the organization.

Question 8

What is Operation Management?

Answer 8

1. Concerns continuous production of goods/services
2. It ensures that business operations continue efficiently by using the optimal resources needed to meet customer demand.
3. It turns input into outputs

Question 9

What is OPM (Organizational Project Management)?

Answer 9

A framework that integrates project, program and portfolios.

Question 10

What is the purpose of OPM (Organizational Project management)?

Answer 10

1. Ensures the right projects/programs are in place and ensure the right resources are allocated.
2. Ensure the organization understands the vision, initiative, deliverables, and objectives of the projects.

Question 11

What is a Project Life Cycle?

Answer 11

A series of phases that a project goes through from its start to its completion.

Question 12

What is a Project phase?

Answer 12

A collection of project activities results in the completion of one or more deliverables.

Question 13

What is a Phase Gate?

Answer 13

A review at the end of a project phase to determine if moving forward, end, or other.

Question 14

What is the definition of Project Management Processes 項目管理過程?

Answer 14

“A systematic series of activities directed toward causing an end result where more inputs will be acted upon to create on+ outputs”.

Every process produces 1+ outputs from inputs through using various project management tools and techniques.

Question 15

What is Project Management Process Group 項目管理過程組?

Answer 15

1. grouping of project management processes (inputs, tools, outputs) through objectives
2. Include “Initiating”. “Planning”, “Executing”, “Monitoring and Controlling”, “Closing.

Question 16

What is Project Management Knowledge Area 項目管理知識領域?

Answer 16

Project Management knowledge requirements defined by its processes, practices, techniques, outputs, tools, etc.

Question 17

Project Environment

Answer 17

1. Physical location (location, working conditions, constraints, etc.)
2. factors that influence the project (Political, social, economical, legal, cultural, values, ethics, code of conduct, environmental, infrastructure, etc.)

Question 18

What is Project Development Life Cycle?

Answer 18

Phases that are within a project life cycle that involved the development of the product, service, or result (1.2.4.1)

Question 19

Project Phase

Answer 19

A project phase is a collection of logically related projects that culminates the completion of deliverables. (1.2.4.2)

Question 20

Phase Gate (Phase Review, Stage Gate, Kill Point, Phase Entrance, Phase Exit)

Answer 20

Hold at the end of a phase. Project performance and progress are compared to business documents, and a decision is made as a result. (1.2.4.3)

Question 21

Project Business Case

Answer 21

1. Economic business case (feasibility study)
2. Maintained by the project sponsor
3. Recommended by the project manager

Question 22

Project Benefits Management Plan

Answer 22

The “How” of the projects. Defines how the project can target benefits and the associative risks, timeframe, and other key elements of the benefits. metrics, assumptions, risks with the project.

Question 23

What is Project Charter

Answer 23

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

Question 24

Project Management Plan

Answer 24

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