Chapter 1 Flashcards
Launching a Technology Project
Project Management Framework
The project management framework is the skeleton of the project and how the project operates. It defines the approach and expectations for how the project will operate.
Operations
Describes the ongoing core business of an organization.
Project
A temporary endeavor to create a unique product or service.
Product life cycle
Describes the creation, support, and eventual sunsetting of a product.
Project Managers (PMs)
Individuals who are responsible for the coordination of the project events, the orchestration of team members and activities, and the management of all facets of the project.
Program
A program is a collection of related projects all working together towards common goal. A program is led by a program manager.
Program Manager
Individual who orchestrates the activities of the project, through the project managers, to achieve benefits that wouldn’t be realized if all the projects acted independently of one another.
Project Management Office (PMO)
Provides centralized management, support, and guidance for all projects within an organization.
PMO - Directive
The PMO directly manages the project for others. The PMO directs the entire project.
PMO - Controlling
The PMO controls the project through compliance with standards, a strict framework, methodologies, forms, templates, and the mechanics of project management.
PMO - Supportive
The PMO is more of a consultant to the project managers with the organization. The supportive PMO helps by providing templates consultation, and lessons learned.
Portfolio
A way to describe a company’s collection of investments.
Portfolio Committee or Steering Committee
This is a group of executives that reviews each proposed investment and determines the priority of the project or program to happen, its ROI, the risk of the investment, and other factors.
Predictive Project Management Approach
(Waterfall Project)
Means that you and your project team predict what should happen in the project. It moves through a logical progression of activities to reach the project closing.
Project Management Life Cycle
Describes the evolution of project process groups that will move to a project from initiation to closure.