Chapter 1 Flashcards
A Guide to the Project Management Body of Knowledge (PMBOK Guide)
The PMI Publication that defines widely accepted project management practices. CAPM and PMP exams are based on this book.
Application Areas
The areas of expertise, industry or where a project is centred. Examples of application areas include architecture, IT, healthcare and manufacturing
Business Value
The quantifiable return on investment. The return can be tangible such as equipment, money or market share. The return can be intangible such as brand recognition, trademarks and reputation.
Certified Associate in Project Management (CAPM)
A person who has slightly less project management experience than a PMP but has qualified for and then passed the CAPM Exam.
Cultural & Social Environment
Defines how a project affects people & how those people may affect the project. Cultural & Social Environments include economic, educational, ethical, religious, demographic and ethnic composition of people affected by the project
Deliverable
A product, service or result created by a project. Projects may have multiple deliverables.
General Management Skills
These include application of accounting, procurement, sales & marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards & regulations, and information technology.
International & Political Environment
The consideration of local & international laws, languages, communication challenges, time zone differences & other non-collocated issues that affect a project’s ability to progress
Interpersonal Skills
The ability to interact, lead, motivate and manage people
Iron Triangle of Project Management
A triangle with characteristics of time, cost and scope. Time, cost and scope each constitute 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 Management is also called Triple Constraints of Project Management as all projects are constrained by time, cost and scope.
Physical Environment
The physical structure or surroundings that affect a project’s work.
Process Groups
A collection of related processes in project management. There are 5 process groups and 49 project management processes. The five process groups are Initiating, Planning, Executing, Monitoring & Controlling, and Closing.
Program
A collection of related projects working in unison toward 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 of a project, product or solution.
Project
A temporary endeavour to create a unique product, service or result. The end result of a project is also called a deliverable.
Project Benefits Management Plan
A document created & maintained by the project sponsor & the project manager. The project benefits management plan defines what benefits the project will create, when the benefits will be realized, & how the benefits will be measured.
Project Business Case
Created & maintained by the project sponsor & shows the financial validity of why a project is chartered and launched by 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 Environment
The location & culture of the environment where the project work will reside. The project environment includes the social, economic & environmental variables the project must work with or around.
Project Management Institute
An organization of project management professionals around the world, supporting and promoting the careers, values and concerns of the project managers.
Project Life Cycles
The phases that make up the project. Project life cycles are unique to the type of the work being performed & are not universal to all projects.
Project Management Office
A central office that oversees all the projects within an organization or within a functional department. A PMO supports the project managers with software, training, templates, policies, communications, dispute resolutions and other services.
A business unit that centralizes all operations and procedures within the organization. The PMO can be supportive, controlling and directive.
Project Management Professional (PMP)
A person who has proven project management experience and has qualified for and then passed the PMP examination.
Project Portfolio Management
The management & selection of projects that support an organization’s vision and mission. It is the balance of project priority, risk, reward and return on investment. This is a senior management process.
Subprojects
A smaller project managed within a larger, parent project. Subprojects are often contracted work whose deliverable allows the larger project to progress.
Work Performance Data
Raw data, observations and measurements about project components. Work performance data is gathered and stored in project management information system.
Work Performance Information
Work Performance Information is the processed and analysed data that will help the project manager make project decisions.
Work Performance Reports
Work performance reports is the formatted communication of work performance information. Work performance reports communicate what’s happening in the project through status reports, memos, dashboards, or other modalities.
