Chapter 1-3 Flashcards
End of Project
- Project objectives achieved
- Objectives will not or cannot be met
- Funding exhausted
- Project need no longer exists
- Legal case - terminated
- Resources no longer exist
Project Initiation Concept
4 Categories for why an org leaders initiate projects
1) Meet regulatory, legal, social requirements
2) Satisfy stakeholder requests
3) Implement or Change business or tech strategies
4) Create, improve, fix products or services
Business Value
The net quantifiable benefit derived from a business endeavor. The return of time, money, goods in return for something exchanged.
- In projects the benefit that results of a specific project
Project Portfolio
- Projects, programs, subsidiary portfolios and operations managed as a group to achieve a strategic objective.
- Align portfolios and organization strategies by selecting the right programs or projects prioritizing the work + providing resources.
Program Management
The application of knowledge, skills + principles to a program to adhere program objectives + benefits + control not available by managing components individually. Harmonize components.
Project Management
Enables the achievement of organizational goals + objectives.
OPM
Organizational Program Management
- A framework in which the portfolio, program, and project management are integrated w/ the org. Enables them to achieve strategic objective.
- Ensures the organization undertakes the right projects + allocation of critical resources.
- Ensures all levels in org understand the vision, initiative, and deliverables.
Project Phase
A collection of logically related project activities that culminate in the completion of one or more deliverables.
name: Phase 1
number: 3 Phases in a project
duration
resources
Entrance criteria
Project Gate
A review at the end of a phase in which a decision is made to combine the next phase, continue w/ modifications, or to end a program.
Project Management Process
Series of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs
Project Management Process Groups
A logical grouping of PM inputs, tools, and techniques and outputs:
Initiating Planning Executing Monitor and control Closing
Project Management Knowledge Area
An identified area of PM defined by its knowledge requirements and description in terms of its components, process, practices, inputs, tools and techniques
Predictive Life Cycle
- Scope, time, and cost determined early on
- Changes are carefully managed
- Waterfall lifestyle
Iterative Life Cycle
- Scope determined early on
- Time, costs are continuously modified
- Develop the product through a series of repeated cycles while increments successively add to the function of the product.
Incremental Life Cycle
Product is:
- Produced through a series of iterations that function with in a predetermined time frame.
- Deliverable contains necessary + sufficient capability only after final iteration
Hybrid Life Cycle
- Combo of predetermined + adaptive life cycles
- Well known elements follow predictive
- Evolving elements follow adaptive
Adaptive Life Cycle
Agile, iterative, incremental
- Scope is defined + approved before the start of an iteration.
Project Data
- Data is collected, analyzed, + transformed and shared w/ the project team
- Work Performance Data - work completed, quality and technical performance measures. Number of change requests and defects
- Work Performance Info - collected from controlling processes. Status of deliverables, status change requests, estimates, memos
- Work Reports - compile data into reports - status reports to raise issues
Tailoring
PM can choose to tailor a project selecting the appropriate tools, techni., inputs, outputs for a specific project. Addressing competing constraints to scope, schedule, etc.
Project Management Plan
*PM’s are responsible for making it
Doc that describes how the project will be executed, monitored, and controlled. All the plan components.
Business Case
Business document most commonly used to create the Project Charter. Describes the necessary info from a business standpoint to determine whether the expected outcomes of the project justify the required investment
Needs Assesment
- Precedes Business Case
- Understanding business goals, objectives, issues, opportunity, and recommended proposals to address them.
Project Benefits Plan
- Doc that describes how + when the benefits of a project will be delivered and describes mechanisms in place to measure those benefits.
- The outcome of actions, behaviors, products, and services that provide value to the sponsoring org and project beneficiaries
Project Charter
A doc issued by Project Sponsor, PM or in collaboration with PM that formally authorizes the existence of a project + gives the PM the authority to apply org resources to project activities
A direct link between the project and strategic objectives of the org
Project Success Measures
Documented project objectives and selecting ones that are measurable.
- Completed Project Benefits Plan
- Meets financial benefits
- Meets business case objectives
- Goes from Current to Future State
- Stakeholder satisfaction
- Quality of deliverables
OPA
Organizational Process Assets
The plans, processes, policies, procedures and knowledge bases specific to and used by an Org
EEF’s
Enterprise Environmental Factors
- Originate from the environment outside the project and often outside the enterprise
- Inputs to PM processes for planning purposes
- Culture, structure of the facilities + resources, IT software, infrastructure, employee capabilities
organizational systems
Component
An identifiable element within the project or Org that provides a particular function or group function
Organization Knowledge Repositories
- Repositories for storing and retrieving information
Software/Hardware Financial data History - Lessons learned Issue + Defect mgt data Data Project files - scope, schedule, performance baselines
organizational systems
System
A collection of various components that together produce results not attainable by components alone.
The systems dynamics are defined by interaction b/w the components based on the relationship + dependencies that exist b/w components.
Management Elements
Components that comprise the key functions or principles of general management in the Org.
Division of work based on skill Authorization given to perform work Discipline of action Unity of direction + command Paid fairly Resources Communication Fair Treatment
Project Manager
Leads the projects team to meet projects objectives and stakeholders expectations.
Works to balance the competed constraints on the project w/ the resources available.
Technical Project Management Skills
The skills to effectively apply PM knowledge to deliver the desired outcomes
Leadership Styles
Laissez-Faire - Allow the team to make decisions and goals
Transactional - Focus on goals and feedback
Transformational - Inspirational motivation
Charismatic - Inspire, Enthusiastic, Self Confident
Interactional - Combo of transactional, transformational, + Charismatic
