Chapter 1 Flashcards
Chapter 1
What is the PMBOK Guide?
A Publication that defines widely accepted management practices
What are application area’s in regards to Project Mgmt?
Area’s of Expertise, Industry knowledge, Functional Areas where a project is centered: Examples, IT or Health Care or Manufacturing or Construction
Define Business Value
A quantifiable return on Investment:
Example of Tangible ROI’s:
Equipment, Money or Market Share
Example of Intangible ROI’s:
Brand recognition, Trade Marks or Reputation
What are Cultural or Social Environmental Factors that can affect your project?
Economic -
Education - Maybe someone can’t read or write
Ethnic -
Religious - Different days off
What is the definition of a Deliverable?
A Product or Service or result created by a project
Projects can have multiple deliverables.
What are International or Political Factors that can affect your project?
International Laws Language Barriers Communication Challenges Time Zone differences Other NON Colocated Challenges
What is the Iron Triangle in regards to Project Management?
Also know as: Triple constraints of Project Mgmt
Time / Money / Scope : if out of balance compromises Quality
Describe Physical Environmental Factors that can affect your project?
Location of Job site from housing
Weather conditions - Is it Snowing or Raining
Temperature - Is it to Hot or Cold
What are the 5 Project Management Process Groups
- Initiation
- Planning
- Execution
- Monitoring and Controling
- Closing the project
What is a Program?
A collection of related Projects working in unison towards a common deliverable.
What is Progressive Elaboration?
The process of gathering project details.
This process uses deductive reasoning, Logic and a series of information gathering techniques to identify details about a project, product or solution
What is a project?
A temporary Endeavor to create a unique product, serivce or result.
The end result of a project is also called a deliverable.
Whats is the definition of: Project benefits Mgmt Plan?
A documented created and maintained by
the project sponsor and the project
manager. The project benefits
management plan defines what benefits
the project will create, when the benefits
will be realized, and how the benefits will
be measured.
Who is responsible for the Project Business Case
The Project Sponsor
What does the Project business case provide?
Created and maintained by the project
sponsor and shows the financial validity of
why a project is chartered and launched
within 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
What is the Definition of the Project environment?
The location and culture of the environment where the project work will reside. The project environment includes the social, economic, and environmental variables the project must work with or around
What are the types of Project Life Cycles?
- Adaptive
The type expects Changes to happen
There are two subtypes of Adaptive life cycles
1. Iterative
2. Incremental - Predictive
This type is adverse to Changes
What is a Project Mgmt Office or PMO?
A central office that oversees all projects within an organization or within a functional Department.
A PMO supports the project manager through software, training, templates, policies, communication, dispute resolution and other services.
There are 3 types of PMO’s:
1. Support - supports the PM
2. Directive - Manages the PM
3.
