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CAPM 6th Edition > Chapter 1-3 > Flashcards

Chapter 1-3 Flashcards

1
Q

A temporary endeavor undertaken to create a unique product, service, or result to fulfill objectives by producing deliverables.

A

Projects

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2
Q

The states that drive product change

A

current state to future state

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3
Q

The net quantifiable benefit derived from a business endeavor. Can be tangible or intangible or both.

A

Business value

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4
Q

In business analysis, the business value is considered the return in the form of 4 elements in return for something exchanged. The elements are….

A

time, money, goods, intangibles

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5
Q

Project initiation- Four fundamental categories for the factors that influence an organization’s ongoing operations and business strategies and link strategic objectives of the organization and the business value of each project.

A
  • Meet regulatory, legal, or social requirements.
  • Satisfy stakeholders requests or needs
  • implement or change business or technological strategies
  • Create, improve, or fix products, processes, or services.
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6
Q

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

A

Project management

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7
Q

A key way to create value and benefits in the organization.

A

Projects

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8
Q

Project management’s 3 separate scenarios:

A

1) Stand-alone project (outside of portfolio or program)
2) Within a program
3) Within a portfolio

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9
Q

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

A

Program

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10
Q

Very large project costing US $1 billion or more, affecting 1 million or more people, and run for years.

A

Mega project

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11
Q

Used to manage several programs and projects underway at any given time. Senior management activity.

A

Portfolio

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12
Q

Program and project management focus differs from portfolio management by….

A
  • Program and project focus on the “right” way of doing things.
  • Portfolio management focuses on doing the “right” programs and projects.
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13
Q

Refers to the combined objective and requirements needed to complete a project.

A

Scope

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14
Q

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

A

Organizational project Management (OPM)

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15
Q

The series of phases that a project passes through from start to completion that is the framework for managing the project.

A

Project life cycle

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16
Q

Aim of portfolio management:

A
  • Guide- investment decisions.
  • Select- optimal mix of programs and projects for strategic objective.
  • Provide- decision-making transparency.
  • Prioritize- Team and physical resource allocation.
  • Increase- the likelihood of realizing the desired return on investment.
  • Centralize- the management of the aggregate risk profile of all components.
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17
Q

Sequential, iterative, or overlapping. Can be predictive or adaptive.

A

Project life cycles

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18
Q

The development life cycles that are within the product life cycle.

A

Predictive, iterative, incremental, adaptive, hybrid.

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19
Q

a collection of logically related project activities that culminates in the competition of one or more deliverables.

A

project phase

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20
Q

Held at the end of a phase to compare performance and progress to project and business documents.

A

Phase gate

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21
Q

Project Management Processes

A

Produces one or more outputs from one or more inputs by using appropriate management tools & techniques. logically linked by the outputs they produce. Activities can be overlapping.

22
Q

Project Management Process groups

A

Initiating, Planning, Executing, Monitoring, Closing

23
Q

Ten Knowledge Areas

A

1) Integration
2) Scope
3) Schedule
4) Cost
5) Quality
6) Resources
7) Communication
8) Risk
9) Procurement
10) Stakeholder

24
Q

A documented economic feasibility study used to establish the validity of benefits realized and used as a basis for authorization of further project management activities.

A

Project business case

25
Q

A document that describes how and when the benefit of the project will be delivered and describes the mechanisms that should be in place to measure those benefits.

A

Project Benefits Management Plan

26
Q

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

A

Project Charter

27
Q

Provides a direct link between project and strategic objectives as an internal in the forms of agreements under contracts but is NOT a contract.

A

Project charter

28
Q

Describes the justification for the project

A

Business case

29
Q

Describes how the project will be managed, executed, monitored, and controlled.

A

Project Management Plan

30
Q

a collection of various components that together can produce results not obtainable by the individual components.

A

System

31
Q

Identifiable element within the project or organization that provides a particular function or group of related functions.

A

Component

32
Q

refers to organizational or structural arrangements at all levels of the organization designed to determine and influence the behavior of the organization’s members.

A

Governance

33
Q

Framework within which authority is exercised in organization.

A

Governance Framework

34
Q

The plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization that influence management. Includes Artifacts, practice, knowledge, lessons learned.

A

Organizational Process Assets (internal)

35
Q

The four domains of governance:

A

1) Alignment
2) Risk
3) Performance
4) Communication

36
Q

The four governance domains has the functions:

A

Oversight, control, integration, decision making

37
Q

Framework, functions, and processes that guide management activities in order to create a unique product, service, or result, to meet organizational, strategic, and operational goals.

A

Project governance.

38
Q

Components that comprise the key functions or principles of general management in the organization.

A

Management Elements

39
Q

10 Organizational Structure Types

A
  • Organic/Simple
  • Functional (centralized)
  • multi-divisional
  • matrix (Strong)
  • Matrix (balance)
  • Matrix (weak)
  • Project oriented (composite, hybrid)
  • virtual
  • Hybrid
  • PMO (portfolio, program, or project management office or organization.
40
Q

framework, functions, and processes that guide management activities in order to create a unique product, service, or result, to meet organizational, strategic, and operational goals.

A

Project Governance

41
Q

an organizational structure that standardizes the project related governance processes and facilitates the sharing of the resources, methodologies, tools, and techniques

A

Project Management Office (PMO)

42
Q

assigned by the performing organization to lead the team that is responsible for achieving the project objectives

A

Project manager

43
Q

3 key skill sets of a project manager

A

technical leadership
leadership
strategic and business management

44
Q

directing another person to get from one point to another

A

Management

45
Q

working with others through discussion or debate to get to one point or another

A

Leadership

46
Q

3 different levels of integration

A

process, cognitive, and context

47
Q

3 dimensions of complexity for integration

A

system behavior
human behavior
ambiguity

48
Q

Characteristics of integration

A

unification, consolidation, communication, and interrelationship

49
Q

Three types of organizational structure type that have project characteristics where the PM’s have little or none authority, resource availability, and the PM’s role is part-time; may or may not be a job role like coordinator

A
  • Organic/simple
  • Functional (centralized)
  • Multi-Divisional (may replicate functions for each division with little centralization)
50
Q

3 organizational types with project characteristic PM authority and resource availability being HIGH and PM Manages the Budget

A
  • Matrix strong
  • Project-oriented (composite, hybrid)
  • PMO

CAPM 6th Edition (11 decks)

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