CHAPTER 1 - Introduction Flashcards
? ? means the knowledge and practices described are applicable to most projects most of the time, and there is consensus about their value and usefulness.
Generally recognized
? ? means there is general agreement that the application of the knowledge, skills, tools, and techniques to project management processes can enhance the chance of success over many projects in delivering the expected business values and results.
Good practice
Determining the appropriate combination of processes, inputs,
tools, techniques, outputs and life cycle phases to manage a project is referred to as “?” the application of the
knowledge described in this guide.
tailoring
A ? is a system of practices, techniques, procedures, and rules used by those who work in a discipline.
This PMBOK® Guide is different.
methodology
This PMBOK® Guide is a ? upon which organizations can build methodologies, policies, procedures, rules, tools and techniques, and life cycle phases needed to practice project management.
foundation
? ? ? ? is a foundational reference for PMI’s project management professional development programs and the practice of project management.
The Standard for Project Management
Because project management needs to be tailored to fit the needs of the project, the standard and the guide are both based on ? practices, rather than prescriptive practices.
descriptive
The Code of Ethics and Professional Conduct includes both ? and ? standards.
aspirational and mandatory standards
Although adherence to the ? standards is not easily measured, conduct in accordance with these is an expectation for those who consider themselves to be professionals—it is not optional.
aspirational
The ? standards establish firm requirements and, in some cases, limit or prohibit practitioner behavior.
mandatory
A ? is a temporary endeavor undertaken to create a unique product, service, or result.
project
Projects are undertaken to fulfill objectives by producing ?.
deliverables
An ? is defined as an outcome toward which work is to be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced, or a service to be performed
objective
? may be tangible or intangible and are defined as any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.
Deliverables
Fulfillment of project objectives may produce one or more unique ?, ?, ? or ? of one or more of these.
Product, Service, Result or Combination
Projects are a ? endeavor, but their deliverables may exist beyond the end of the project.
Temporary
The temporary nature of projects indicates that a project has a definite ? and ?.
beginning and end
There are ? ways to determine the end of a project has been reached
6
There are 6 ways to determine the end of a project has been reached. What is the missing one?
- ?;
- The OBJECTIVES will not or cannot be met;
- FUNDING is exhausted or no longer available for allocation to the project;
- The NEED for the project no longer exists
- The human or physical RESOURCES are no longer available; or
- The project is TERMINATED for legal cause or convenience.
- The project’s OBJECTIVES have been achieved;
There are 6 ways to determine the end of a project has been reached. What is the missing one?
- The project’s OBJECTIVES have been achieved;
- ?;
- FUNDING is exhausted or no longer available for allocation to the project;
- The NEED for the project no longer exists
- The human or physical RESOURCES are no longer available; or
- The project is TERMINATED for legal cause or convenience.
- The OBJECTIVES will not or cannot be met;
There are 6 ways to determine the end of a project has been reached. What is the missing one?
- The project’s objectives have been achieved;
- The objectives will not or cannot be met;
?
- The need for the project no longer exists
- The human or physical resources are no longer available; or
- The project is terminated for legal cause or convenience.
- Funding is exhausted or no longer available for allocation to the project;
There are 6 ways to determine the end of a project has been reached. What is the missing one?
- The project’s OBJECTIVES have been achieved;
- The OBJECTIVES will not or cannot be met;
- FUNDING is exhausted or no longer available for allocation to the project;
- ?
- The human or physical RESOURCES are no longer available; or
- The project is TERMINATED for legal cause or convenience.
- The NEED for the project no longer exists
(e. g., the customer no longer wants the project completed, a change in strategy or priority ends the project, the organizational management provides direction to end the project);
There are 6 ways to determine the end of a project has been reached. What is the missing one?
- The project’s OBJECTIVES have been achieved;
- The OBJECTIVES will not or cannot be met;
- FUNDING is exhausted or no longer available for allocation to the project;
- The NEED for the project no longer exists
- ?; or
- The project is TERMINATED for legal cause or convenience.
- The human or physical RESOURCES are no longer available;
There are 6 ways to determine the end of a project has been reached. What is the missing one?
- The project’s OBJECTIVES have been achieved;
- The OBJECTIVES will not or cannot be met;
- FUNDING is exhausted or no longer available for allocation to the project;
- The NEED for the project no longer exists
- The human or physical RESOURCES are no longer available; or
?
- The project is TERMINATED for legal cause or convenience.
Projects drive ? in organizations.
change
From a business perspective, a project is aimed at moving an organization from the ? state to a ? state in order to achieve a specific objective.
Current,
Future
Moving from the Current state to a Future state may involve creating a ? state where multiple steps are made along a continuum to achieve the future state.
transition
Projects enable ? ? creation.
business value
The net quantifiable benefit derived from a business endeavor is called ? ?. The benefit may be tangible, intangible, or both.
business value
In business analysis, business value is considered the ? (in the form of elements such as time, money, goods, or intangibles), for something exchanged
return
In projects ? ? refers to the benefit that the results of a specific project provide to its stakeholders.
Business value
Project Initiation ? is determined by, and should align one or more of the 4 fundamental factor categories.
Context
Organizational leaders initiate projects in response to factors acting upon their organizations. There are ? fundamental categories for these factors, which illustrate the context of a project.
4
There are 4 fundamental factors, which illustrate the context of a project.
Identify the missing one.
- Meet REGULATORY, legal, or social requirements;
- Satisfy stakeholder REQUESTS or needs;
- Implement or change business or TECHNOLOGICAL strategies; and
- ?
- Create, improve, or FIX products, processes, or services.
There are 4 fundamental factors, which illustrate the context of a project.
Identify the missing one.
?
- Satisfy stakeholder REQUESTS or needs;
- Implement or change business or TECHNOLOGICAL strategies; and
- Create, improve, or FIX products, processes, or services.
- Meet REGULATORY, legal, or social requirements;
There are 4 fundamental factors, which illustrate the context of a project.
Identify the missing one.
- Meet REGULATORY, legal, or social requirements;
- ?;
- Implement or change business or TECHNOLOGICAL strategies; and
- Create, improve, or FIX products, processes, or services.
- Satisfy stakeholder REQUESTS or needs;
There are 4 fundamental factors, which illustrate the context of a project.
Identify the missing one.
- Meet REGULATORY, legal, or social requirements;
- Satisfy stakeholder REQUESTS or needs;
- ?; and
- Create, improve, or FIX products, processes, or services.
- Implement or change business or TECHNOLOGICAL strategies;
Leaders respond to the 4 fundamental factors that influence an organization’s ongoing operations and business strategies in order to keep the organization ?.
viable
Projects provide the means for organizations to successfully make the ? necessary to deal with the 4 fundamental influencing factors.
changes
The 4 fundamental factors ultimately should link to the ? objectives of the organization and the business value of each project.
strategic
The 4 fundamental factors ultimately should link to the strategic objectives of the organization and the ? ? of each project.
business value
= the return gained in exchange for something
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
?
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Meet BUSINESS objectives;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- ?;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Satisfy STAKEHOLDER expectations;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- ?;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Be more PREDICTABLE;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- ?;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Increase chances of SUCCESS;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- ?;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Deliver the right PRODUCTS at the right time;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- ?;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
Resolve PROBLEMS and issues
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- ?;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Respond to RISKS in a timely manner;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- ?;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Optimize the use of organizational RESOURCES;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- ?;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Identify, recover, or terminate FAILING projects;
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- ?;
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- Manage CHANGE in a better manner.
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- ?; and
- Manage CHANGE in a better manner.
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
There are 12 ways Effective project management helps individuals, groups, and public and private organizations. Identify the missing one.
- Meet BUSINESS objectives;
- Satisfy STAKEHOLDER expectations;
- Be more PREDICTABLE;
- Increase chances of SUCCESS;
- Deliver the right PRODUCTS at the right time;
- Resolve PROBLEMS and issues;
- Respond to RISKS in a timely manner;
- Optimize the use of organizational RESOURCES;
- Identify, recover, or terminate FAILING projects;
- Manage CONSTRAINTS (e.g., scope, quality, schedule, costs, resources);
- Balance the influence of CONSTRAINTS on the project (e.g., increased scope may increase cost or schedule); and
- ?.
- Manage CHANGE in a better manner.
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- ? ,
- Cost OVERRUNS,
- Poor QUALITY,
- REWORK
- Uncontrolled EXPANSION of the project, (Scope Creep)
- Loss of REPUTATION for the organization,
- Unsatisfied STAKEHOLDERS, and
- FAILURE in achieving the objectives for which the project was undertaken.
- Missed DEADLINES,
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- Missed DEADLINES,
- ?,
- Poor QUALITY,
- REWORK
- Uncontrolled EXPANSION of the project, (Scope Creep)
- Loss of REPUTATION for the organization,
- Unsatisfied STAKEHOLDERS, and
- FAILURE in achieving the objectives for which the project was undertaken.
- Cost OVERRUNS,
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- Missed DEADLINES,
- Cost OVERRUNS,
- ?,
- REWORK
- Uncontrolled EXPANSION of the project, (Scope Creep)
- Loss of REPUTATION for the organization,
- Unsatisfied STAKEHOLDERS, and
- FAILURE in achieving the objectives for which the project was undertaken.
- Poor QUALITY,
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- Missed DEADLINES,
- Cost OVERRUNS,
- Poor QUALITY,
- ?
- Uncontrolled EXPANSION of the project, (Scope Creep)
- Loss of REPUTATION for the organization,
- Unsatisfied STAKEHOLDERS, and
- FAILURE in achieving the objectives for which the project was undertaken.
- REWORK,
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- Missed DEADLINES,
- Cost OVERRUNS,
- Poor QUALITY,
- REWORK
- ?
- Loss of REPUTATION for the organization,
- Unsatisfied STAKEHOLDERS, and
- FAILURE in achieving the objectives for which the project was undertaken.
- Uncontrolled EXPANSION of the project, (Scope Creep)
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- Missed DEADLINES,
- Cost OVERRUNS,
- Poor QUALITY,
- REWORK
- Uncontrolled EXPANSION of the project, (Scope Creep)
- ?,
- Unsatisfied STAKEHOLDERS, and
- FAILURE in achieving the objectives for which the project was undertaken.
- Loss of REPUTATION for the organization,
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- Missed DEADLINES,
- Cost OVERRUNS,
- Poor QUALITY,
- REWORK
- Uncontrolled EXPANSION of the project, (Scope Creep)
- Loss of REPUTATION for the organization,
- ?, and
- FAILURE in achieving the objectives for which the project was undertaken.
- Unsatisfied STAKEHOLDERS, and
Poorly managed projects or the absence of project management may result in 8 possible outcomes:
- Missed DEADLINES,
- Cost OVERRUNS,
- Poor QUALITY,
- REWORK
- Uncontrolled EXPANSION of the project, (Scope Creep)
- Loss of REPUTATION for the organization,
- Unsatisfied STAKEHOLDERS, and
- ?
- FAILURE in achieving the objectives for which the project was undertaken.
Projects are a key way to create ? and ? in organizations.
value and benefits
The business environment is dynamic with an accelerating rate of ?.
change
Effective and efficient project management should be considered a strategic competency within organizations. It enables organizations to achieve 4 things:
- RESPOND to the impact of business environment changes on projects by appropriately adjusting project management plans; (allowing them to)
- ?, (which means they can)
- COMPETE more effectively in their markets, (and therefore)
- SUSTAIN the organization.
- TIE project results to business goals,
Effective and efficient project management should be considered a strategic competency within organizations. It enables organizations to achieve 4 things:
- RESPOND to the impact of business environment changes on projects by appropriately adjusting project management plans; (allowing them to)
- TIE project results to business goals, (which means they can)
- ?, (and therefore)
- SUSTAIN the organization.
- COMPETE more effectively in their markets,
Effective and efficient project management should be considered a strategic competency within organizations. It enables organizations to achieve 4 things:
- RESPOND to the impact of business environment changes on projects by appropriately adjusting project management plans; (allowing them to)
- TIE project results to business goals, (which means they can)
- COMPETE more effectively in their markets, (and therefore)
- ?.
- SUSTAIN the organization, and
Effective and efficient project management should be considered a strategic competency within organizations. It enables organizations to achieve 4 things:
- ?; (allowing them to)
- TIE project results to business goals, (which means they can)
- COMPETE more effectively in their markets, (and therefore)
- SUSTAIN the organization.
- RESPOND to the impact of business environment changes on projects by appropriately adjusting project management plans.
? are not large projects.
A ? is defined as a group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually
program
A very large project may be referred to as a ?
megaproject.
As a guideline, megaprojects cost US$billion or more, affect 1 million or more people, and run for years.
Some organizations may employ the use of a ? ? to effectively manage multiple programs and projects that are underway at any given time
project portfolio
A ? is defined as projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives
portfolio
Program management and portfolio management differ from ? ? in their life cycles, activities, objectives, focus, and benefits.
project management
Portfolios, programs, projects, and operations often engage with the same stakeholders and may need to use the same resources, which may result in a ? in the organization.
conflict
The portfolio components are grouped together in order to facilitate the effective ? and ? of the work that helps to achieve organizational strategies and priorities.
governance and management
Organizational and portfolio ? impact the components by means of prioritization based on risk, funding, and other considerations.
planning
A portfolio view allows organizations to see how the ? goals are reflected in the portfolio.
strategic
A portfolio view also enables the implementation and coordination of appropriate portfolio, program, and project ?.
governance
Coordinated ? allows authorized allocation of human, financial, and physical resources based on expected performance and benefits
governance
Program and project management focus on doing programs and projects the “?” way.
right
Portfolio management focuses on doing the “right” ? and ?
programs and projects
A ? is a temporary endeavor undertaken to create a unique product, service, or result.
project
Projects have defined objectives.
? is progressively elaborated throughout the project life cycle.
Scope
Project managers expect ? and implement processes to keep it managed and controlled.
change
Project managers progressively elaborate high-level information into detailed ? throughout the project life cycle.
plans
Project managers ? the project team to meet the project objectives.
manage
Project managers ? and ? the work of producing the products, services, or results that the project was undertaken to produce.
monitor and control
? is measured by product and project quality, timeliness, budget compliance, and degree of customer satisfaction.
Success
A ? is a group of related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually.
program
Programs have a ? that encompasses the scopes of its program components.
scope
Programs are managed in a manner that accepts and adapts to ? as necessary to optimize the delivery of benefits as the program’s components deliver outcomes and/or outputs.
change
Programs are managed using high-level ? that track the interdependencies and progress of program components. Program plans are also used to guide ? at the component level.
plans.
planning
Programs are managed by ? ? who ensure that program benefits are delivered as expected, by coordinating the activities of a
program’s components.
program managers
Program managers ? the progress of program components to
ensure the overall goals, schedules, budget, and benefits of the program will be met.
monitor
A program’s ? is measured by the program’s ability to deliver its intended benefits to an organization, and by the program’s efficiency and effectiveness in delivering those benefits.
success
A ? is a collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.
portfolio
Portfolios have an organizational ? that changes with the strategic objectives of the organization.
scope
Portfolio managers continuously ? changes in the broader internal and external environments.
monitor
Portfolio managers ? and ? necessary processes and communication relative to the aggregate portfolio.
create and maintain
Portfolio managers may ? or ? portfolio management staff, or program and project staff that may have reporting responsibilities into the aggregate portfolio.
manage or co-ordinate
Portfolio managers ? strategic changes and aggregate resource allocation, performance results, and risk of the portfolio.
monitor
? is measured in terms of the aggregate investment performance and benefit realization of the portfolio.
Success
? ? is defined as the application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually.
Program management
A program ? refers to projects and other programs within a program.
component
Project management focuses on interdependencies ? a project to determine the optimal approach for managing the project.
within
Program management focuses on the interdependencies ? projects and ? projects and the program level to determine the optimal approach for managing them.
between
between
In Program Management. Actions related to these program and project-level interdependencies may include: ? with the organizational or strategic direction that affects program and project goals and objectives
Aligning
In Program Management. Actions related to these program and project-level interdependencies may include: Allocating the program ? into program components
scope
In Program Management. Actions related to these program and project-level interdependencies may include: Managing ? among the components of the program to best serve the program
interdependencies
In Program Management. Actions related to these program and project-level interdependencies may include: Managing program ? that may impact multiple projects in the program
risks
In Program Management. Actions related to these program and project-level interdependencies may include: Resolving ? and ? that affect multiple projects within the program
constraints and conflicts
In Program Management. Actions related to these program and project-level interdependencies may include: Resolving ? between component projects and the program level
issues
In Program Management. Actions related to these program and project-level interdependencies may include: Assuring ? realization from the program and component projects
benefits
In Program Management. Actions related to these program and project-level interdependencies may include: Managing ? requests within a shared governance framework
change
In Program Management. Actions related to these program and project-level interdependencies may include: Allocating ? across multiple projects within the program;
budgets
A ? is defined as projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.
portfolio
? ? is defined as the centralized management of one or more portfolios to achieve strategic objectives.
Portfolio management
The programs or projects of the ? may not necessarily be interdependent or directly related.
portfolio
Of the 6 main aims, portfolio management aims to:
- Guide organizational ? decisions.
INVESTMENT
Of the 6 main aims, portfolio management aims to:
- Select the OPTIMAL mix of ? and ? to meet strategic objectives.
programs and projects
Of the 6 main aims, portfolio management aims to:
- Provide decision-making ?.
TRANSPARENCY
Of the 6 main aims, portfolio management aims to:
- Prioritize team and physical resource ?.
ALLOCATION
Of the 6 main aims, portfolio management aims to:
- Increase the likelihood of realizing the desired ? on investment.
return
Of the 6 main aims, portfolio management aims to:
- Centralize the management of the aggregate ? profile of all components.
RISK
Portfolio ? are prioritized so that those contributing the most to the organization’s strategic objectives have the required financial, team, and physical resources.
Components
? management is an area that is outside the scope of formal project management as described in this guide.
Operations
Operations management is concerned with the ongoing production of ? and/or ?
good and/or services
? ? ensures that business operations continue efficiently by using the optimal resources needed to meet customer demands, by managing processes that transform inputs into outputs
Operations management
Projects can intersect with operations at various points during the product life cycle, such as; At the end of the product ? ?
life cycle
Projects can intersect with operations at various points during the product life cycle, such as; At each ? phase
closeout
Projects can intersect with operations at various points during the product life cycle, such as; While ? operations or the product development process
improving
Projects can intersect with operations at various points during the product life cycle, such as;
- When developing a new, or upgrading an existing ?
product
Projects can intersect with operations at various points during the product life cycle, such as;
- When expanding ?
outputs
When Projects intersect with Operations, at various points during the product life cycle, ? and ? are transferred between the project and operations for implementation of the delivered work.
deliverables and knowledge
Portfolios, programs, and projects are aligned with or driven by ? ? and differ in the way each contributes to the achievement of strategic goals:
organizational strategies
? ? aligns portfolios with organizational strategies by selecting the right programs or projects, prioritizing the work, and providing the needed resources.
Portfolio management
Program management harmonizes its program components and controls interdependencies in order to realize specified ?.
benefits
Project management enables the achievement of ? goals and objectives
organizational
? ? ? is defined as a framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives.
Organizational Project Management (OPM)
It’s the interaction of:
Strategy-Portfolio-Programs & Projects-Operations
The series of, sequential, iterative, or overlapping, phases that a project passes through from its start to its completion is the ? ? ?.
Project life cycle
A collection of logically related project activities that culminates in the completion of one or more deliverables is a ? ?
Project phase
A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a program or project.
Phase gate
? ? ? is a systematic 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 processes (49)
A logical grouping of project management inputs, tools and techniques, and outputs which include Initiating, Planning, Executing, Monitoring and Controlling, and Closing, but they are NOT project phases.
Project Management Process Group (5)
An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.
Project Management Knowledge Area/s (10)
A Project Life Cycle has 4 ? and 4 ? with it’s timeline.
4 Project phases and 4 Phase Gates
What is the 1st Project Phase in a Project Life Cycle?
Starting the Project
What is the 2nd Project Phase in a Project Life Cycle?
Organizing and Preparing
What is the 3rd Project Phase in a Project Life Cycle?
Carrying Out the Work
What is the 4th/last Project Phase in a Project Life Cycle?
Ending the Project
There are 6 Key Components in a Project. What are they and how many are in each?
Project life cycle - 4 Project phase - 4 Phase gates 49 Project Management Processes - 5 Process Groups - 10 Knowledge Areas
The Project Life Cycle provides the basic/generic ? for managing the project and applies regardless of the specific project work involved.
framework
Within a project life cycle, there are generally one or more phases that are associated with the development of the product, service, or result. These are called a ? life cycle.
development
Both Project AND Development life cycles can be predictive or adaptive, but Development life cycles can also be iterative, incremental, or a ? ?
hybrid model
In a ? life cycle, the project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed. They may also be referred to as waterfall life cycles.
predictive
In an ? life cycle, the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team’s understanding of the product increases.
iterative
In an iterative life cycle, ? develop the product through a series of repeated cycles, while ? successively add to the functionality of the product.
Iterations
increments
In an ? life cycle, the deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame. The deliverable contains the necessary and sufficient capability to be considered complete only after the final iteration.
incremental
? life cycles are agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration. They are also referred to as agile or change-driven life cycles.
Adaptive
A ? life cycle is a combination of a predictive and an adaptive life cycle. Those elements of the project that are well known or have fixed requirements follow a predictive development life cycle, and those elements that are still evolving follow an adaptive development life cycle.
hybrid
It is up to the project management team to determine the best ? ? for each project
life cycle
The project life cycle needs to be ? enough to deal with the variety of factors included in the project.
flexible
Life cycle flexibility may be accomplished by (3):
- Identifying the ? that need to be performed in each phase
process/es
Life cycle flexibility may be accomplished by (3):
- Adjusting the various ? of a phase
attributes
e.g., name, duration, exit criteria, and entrance criteria
Life cycle flexibility may be accomplished by (3):
- ? the process or processes identified in the appropriate phase,
Performing
Project life cycles are ? of product life cycles, which may be produced by a project.
independent
A ? life cycle is the series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement.
product
A ? ? is a collection of logically related project activities that culminates in the completion of one or more deliverables.
project phase
The phases in a life cycle can be described by a variety of ?. These (S) may be measurable and unique to a specific phase.
attributes
These are examples of what type of project phase attribute?
(Phase A, Phase B, Phase 1, Phase 2, proposal phase),
Name
These are examples of what type of project phase attribute?
e.g. three phases in the project, five phases in the project
Number
These are examples of what type of project phase attribute?
1 week, 1 month, 1 quarter
Duration
These are examples of what type of project phase attribute?
People, buildings, equipment
Resource requirements
These are examples of what type of project phase attribute?
Specified approvals documented, specified documents completed
Entrance criteria for a project to move into that phase
These are examples of what type of project phase attribute?
Documented approvals, completed documents, completed deliverables
Exit criteria for a project to complete a phase
Projects may be separated into distinct ? or ? which are generally given names that indicate the type of work done in that phase.
phases or subcomponents.
some e.g.’s Concept development, Feasibility study, Customer requirements, Solution development, Design, Prototype, Build, Test, Transition, Commissioning, Milestone review, and Lessons learned.
The project phases may be established based on various ?
factors
some e.g.’s
- Management needs;
- Nature of the project;
- Unique characteristics of the organization, industry, or technology;
- Project elements inc technology, engineering, business, process, or legal; and
- Decision points (e.g., funding, project go/no-go, and milestone review).
Using MULTIPLE phases may provide better insight to managing the project. It also provides an opportunity to assess the project performance and take necessary ? or ? actions in subsequent PHASES.
corrective or preventive
A ?? or ??, is a key component used with project phases and held at the end of a phase
phase gate or phase review
At the phase gate, the project’s performance and progress are compared to the project and business ?
documents
Some e.g.’s
- Project business case
- Project charter
- Project management plan and
- Benefits management plan
There are typically 5 decision options made at the phase gate:
?
- Continue to the next phase with MODIFICATIONS,
- END the project,
- REMAIN in the phase, or
- REPEAT the phase or elements of it.
- Continue to the NEXT phase,
There are typically 5 decision options made at the phase gate: - Continue to the NEXT phase, ? - REMAIN in the phase, or - REPEAT the phase or elements of it. - END the project,
- Continue to the next phase with MODIFICATIONS,
There are typically 5 decision options made at the phase gate:
- Continue to the NEXT phase,
- Continue to the next phase with MODIFICATIONS,
- REMAIN in the phase,
- REPEAT the phase or elements of it, or
- ?
- END the project,
There are typically 5 decision options made at the phase gate:
- Continue to the NEXT phase,
- Continue to the next phase with MODIFICATIONS,
?
- REPEAT the phase or elements of it or
- END the project,
- REMAIN in the phase,
There are typically 5 decision options made at the phase gate:
- Continue to the NEXT phase,
- Continue to the next phase with MODIFICATIONS,
- REMAIN in the phase,
- ?, or
- END the project,
- REPEAT the phase or elements of it.
The ? ? ? is managed by executing a series of project management activities known as project management processes.
project life cycle
Every project management process produces one or more outputs from one or more inputs by using appropriate project management ? and ?.
tools and techniques.
Every project management process produces one or more outputs known as deliverables or ?.
outcome.
Outcomes are an end result of a process.
Project management processes are logically linked by the ? they produce.
outputs
outputs = deliverables and outcomes
Processes may contain ? activities that occur throughout the project.
overlapping
The output of one process generally results in either:
? or
- A DELIVERABLE of the project or project phase.
- An INPUT to another process,
The output of one process generally results in either:
- An INPUT to another process, or
?
- A DELIVERABLE of the project or project phase.
The number of process ? and ? between processes varies based on the needs of the project
iterations and interactions
Processes generally fall into one of three categories:
- ?
- Processes that are performed PERIODICALLY as needed.
- Processes that are performed CONTINUOUSLY throughout the project.
Processes used ONCE or at PREDEFINED points in the project.
The processes Develop Project Charter and Close
Project or Phase are examples.
Processes generally fall into one of three categories:
- Processes used ONCE or at PREDEFINED points in the project.
- ?
- Processes that are performed CONTINUOUSLY throughout the project.
Processes that are performed PERIODICALLY as needed.
The process Acquire Resources is performed as resources are needed. The process Conduct Procurements is performed prior to needing the procured item.
Processes generally fall into one of three categories:
- Processes used ONCE or at PREDEFINED points in the project.
- Processes that are performed PERIODICALLY as needed.
- ?
Processes that are performed CONTINUOUSLY throughout the project.
The process activities that may occur throughout the project life cycle, especially if the project uses rolling wave planning or an adaptive development approach. Many of the monitoring and control processes are ongoing from the start of the project, until it is closed out.
Project management is accomplished through the appropriate ? and ? of logically grouped project management processes.
application and integration
The PMBOK Guide groups processes into 5 categories called ? ?.
Process Groups
My Process Groups mnemonic is
“In Projects Everything Must Close”
“In Projects Everything Must Close” is what
5 Process Groups
Initiating, Planning, Executing, Monitoring and Controlling, Closing
Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
Initiating Process Group.
Those processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.
Planning Process Group.
Those processes performed to complete the work defined in the project management plan to satisfy the project requirements.
This group integrates and coordinates people and other resources to carry out the project management plan.
Executing Process Group.
Those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.
Monitoring and Controlling Process Group.
Those processes performed to formally complete or close the project, phase, or contract.
Closing Process Group.
Process Groups are not the same as project ?
phases
The project management processes are linked by specific inputs and outputs where the result or outcome of one process may become the input to another process that is not necessarily in the same ? ?
Process Group.
Initiating formula?
Do It
Planning formula?
D [Plan^9] + CDC/DSED/ED/-E-/IPPP/–
Executing formula?
DM/—/M/ADM/M/I/C/M
Monitoring and Controlling formula?
M&C[C^5/M^2/C/M] KAs + P/V
Closing formula?
Close
Process Group zip?
2-24-10-12-1
In addition to Process Groups, processes are also categorized by ? ?
Knowledge Areas
A ? ? is an identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.
Knowledge Area
My Knowledge Area mnemonic is
“I Saw Six Cats Quickly Rip Carol’s Red Polo Shirt”
“I Saw Six Cats Quickly Rip Carol’s Red Polo Shirt” is what?
10 Knowledge Areas
Integration, Scope, Schedule, Cost, Quality, Resources, Communication, Risk, Procurement, Stakeholders
Knowledge Area phone number?
766-436-3734
Includes the processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups.
Project Integration Management.
Includes the processes required to ensure the project includes all the work required, and only the work required, to complete the project successfully.
Project Scope Management.
Includes the processes required to manage the timely completion of the project.
Project Schedule Management.
Includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget.
Project Cost Management.
Includes the processes for incorporating the organization’s quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meet stakeholders’ expectations.
Project Quality Management.
Includes the processes to identify, acquire, and manage the resources needed for the successful completion of the project.
Project Resource Management.
Includes the processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information.
Project Communications Management.
Includes the processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project.
Project Risk Management.
Includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team.
Project Procurement Management.
Includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.
Project Stakeholder Management.
The 49 Processes create Project ? which is collected and analysed to become Project INFORMATION. This information is then communicated, stored and distributed in various formats as Project REPORTS
DATA
The 49 Processes create Project DATA which is collected and analysed to become Project ? . This information is then communicated, stored and distributed in various formats as Project REPORTS
INFORMATION
The 49 Processes create Project DATA which is collected and analysed to become Project INFORMATION which is then communicated, stored and distributed in various formats as Project ?
REPORTS
The raw observations and measurements identified during activities performed to carry out the project work. Project data are usually recorded in a Project Management Information System (PMIS) and in project documents.
Work Performance Data.
e.g. reported percent of work physically completed, quality and technical performance measures, start and finish dates of schedule activities, number of change requests, number of defects, actual costs, actual durations, etc.
The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas.
Work Performance Information.
e.g. status of deliverables, implementation status for change requests, and forecast estimates to complete.
The physical or electronic representation of work performance information compiled in project documents, which is intended to generate decisions or raise issues, actions, or awareness.
Work Performance Reports.
e.g. status reports, memos, justifications, information notes, electronic dashboards, recommendations, and updates.
The project manager collaborates with the project team, sponsor, organizational management, or some combination thereof, in ? the project, and should address the competing constraints of scope, schedule, cost, resources, quality, and risk.
“tailoring”
In some cases, the organization may require specific project management methodologies be used.
The importance of each ? is different for each project, and the project manager tailors the approach for managing these (S) based on things like the project environment, organizational culture, stakeholder needs, and whether it was requested internally or externally.
constraint
In tailoring project management, the project manager should also consider the varying levels of ? that may be required and within which the project will operate,
governance
Sound project management ? take into account the unique nature of projects and allow tailoring, to some extent, by the project manager.
methodologies
The project manager needs to ensure that the project management approach captures the intent of business ?.
documents
These two documents are interdependent and iteratively developed and maintained throughout the life cycle of the project.
What are the 2 business documents?
- Project Business Case
- Project Benefits Management Plan
A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities.
Project Business Case
The documented explanation defining the processes for CREATING, MAXIMISING, and SUSTAINING the benefits provided by a project.
Project Benefits Management Plan
The project ? is generally accountable for the development and maintenance of the project business case document.
sponsor
The ? ? is responsible for providing recommendations and oversight to keep the project business case, project management plan, project charter, and project benefits management plan success measures in alignment with one another and with the goals and objectives of the organization.
project manager
Unless the Business Case and Benefits Management Plan are maintained at the program level, the ? ? should appropriately TAILOR the project management documents for their projects.
Project managers
Otherwise, Project managers should work with the program managers to ensure the project management documents are aligned with the program documents.
Needs Assessment, Business Case and Benefits Management Plan are conducted before the
Initiation Group phases.
The (Pre-Project Work) information from the Needs Assessment, Business Case and Benefits Management Plan feed into the ? ? document
Project Charter
which then feeds into the Project Management Plan
The ? ? lists the objectives and reasons for project initiation
Business Case
The Business Case is a project business document that is used throughout the project life cycle and helps measure the project ? at the end of the project against the project objectives.
success
The Business Case, created before the project initiation phases may result in a ?/? decision for the project.
go/no-go
A ? ? often precedes the business case.
Needs Assessment
The ? ? involves understanding business goals and objectives, issues, and opportunities and recommends proposals to address them.
Needs Assessment
The results of the needs assessment may be summarized in the ? ? document.
Business Case
The process of defining the business need, analyzing the situation, making recommendations, and defining evaluation
criteria is applicable to any organization’s ?.
projects
A Business Case may include but is not limited to documenting the following: ? - Analysis of the situation: - Recommendation: - Evaluation:
- Business needs:
A business case may include but is not limited to documenting the following: - Business needs: ? - Recommendation: - Evaluation:
- Analysis of the situation:
A business case may include but is not limited to documenting the following: - Business needs: - Analysis of the situation: ? - Evaluation:
- Recommendation:
A business case may include but is not limited to documenting the following: - Business needs: - Analysis of the situation: - Recommendation: ?
- Evaluation:
These are all examples of documenting ? ?
- Determination of what is prompting the need for action;
- Situational statement documenting the business problem or opportunity to be addressed including the value to be delivered to the organization;
- Identification of stakeholders affected; and
- Identification of the scope.
Business needs:
These are all examples of documenting ? ?
- Identification of organizational strategies, goals, and objectives;
- Identification of root cause(s) of the problem or main contributors of an opportunity;
- Gap analysis of capabilities needed for the project versus existing capabilities of the organization;
- Identification of known risks;
- Identification of critical success factors;
- Identification of decision criteria by which the various courses of action may be assessed;
- Identification of a set of options to be considered for addressing the business problem or opportunity
Analysis of the situation
Situation Analysis
Examples of criteria categories used for analysis of a situation are:
?
- DESIRED to be fulfilled to address the problem or opportunity.
- OPTIMAL is not essential. Fulfillment of this criterion may become a differentiator between alternative courses of action.
-REQUIRED to be fulfilled to address the problem or opportunity.
Examples of criteria categories used for analysis of a situation are:
-REQUIRED to be fulfilled to address the problem or opportunity.
?
- OPTIMAL is not essential. Fulfillment of this criterion may become a differentiator between alternative courses of action.
- DESIRED to be fulfilled to address the problem or opportunity.
Examples of criteria categories used for analysis of a situation are:
-REQUIRED to be fulfilled to address the problem or opportunity.
- DESIRED to be fulfilled to address the problem or opportunity.
?
- OPTIMAL is not essential. Fulfillment of this criterion may become a differentiator between alternative courses of action.
A Business Case could present the following three options/business scenarios:
?
- Do the minimum work possible to address the problem or opportunity.
- Do more than the minimum work possible to address the problem or opportunity.
- Do nothing: aka “business as usual” option.
Selection of this option results in the project not being authorized.
A Business Case could present the following three options/business scenarios:
- Do nothing: aka “business as usual” option.
?
- Do more than the minimum work possible to address the problem or opportunity.
- Do the minimum work possible to address the problem or opportunity.
The minimum may be established by identifying the set of documented criteria that are key in addressing the problem or opportunity.
A Business Case could present the following three options/business scenarios:
- Do nothing: aka “business as usual” option.
- Do the minimum work possible to address the problem or opportunity.
?
- Do more than the minimum work possible to address the problem or opportunity.
This option meets the minimum set of criteria and some or all of the other documented criteria. There may be more than one of these options documented in the business case.
These are all examples of documenting the ?
- A statement of the recommended option to pursue in the project;
and should include things like:
-Analysis results for the potential option;
-Constraints, assumptions, risks, and dependencies for the potential options; and
-Success measures
- An implementation approach that may include but is not limited to:
-Milestones,
-Dependencies, and
-Roles and responsibilities.
Recommendation:
This is an example of documenting the ?
- Statement describing the plan for measuring benefits the project will deliver. This should include any ongoing operational aspects of the recommended option beyond initial implementation.
Evaluation:
The Business Case document provides the basis to measure ? and ? throughout the project life cycle by comparing the results with the objectives and the identified success criteria.
success and progress
See Business Analysis for Practitioners: A Practice Guide [7]
The project ? ? ? is the document that describes how and when the benefits of the project will be delivered, and describes the mechanisms that should be in place to measure those benefits.
Benefits Management Plan
A project ? is defined as an outcome of actions, behaviors, products, services, or results that provide value to the sponsoring organization as well as to the project’s intended beneficiaries.
benefit
Development of the Benefits Management Plan begins early in the project life cycle with the definition of the ? ? to be realized.
target benefits
These are some examples of key elements described in the ? ? ?.
- Target benefits
- Strategic alignment
- Timeframe for realizing benefits
- Benefits owner
- Metrics
- Assumptions
- Risks
Benefits Management Plan
The financial value, expressed as Net Present Value (NPV) describes 1 of the key elements in the Benefits Management Plan. Which one?
Target benefits
How well the project benefits align to the business strategies of the organization describes 1 of the key elements in the Benefits Management Plan. Which one?
Strategic alignment
Benefits by phase, short-term, long-term, and ongoing describes 1 of the key elements in the Benefits Management Plan. Which one?
Timeframe for realizing benefits
The accountable person to monitor, record, and report realized benefits throughout the timeframe established in the plan describes 1 of the key elements in the Benefits Management Plan. Which one?
Benefits owner
The measures to be used to show benefits realized, direct measures, and indirect measures describes 1 of the key elements in the Benefits Management Plan. Which one?
Metrics
Factors expected to be in place or to be in evidence describes 1 of the key elements in the Benefits Management Plan. Which one?
Assumptions
Risks for realization of benefits describes 1 of the key elements in the Benefits Management Plan. Which one?
Risks
Developing the Benefits Management Plan makes use of the data and information documented in the ? ? and ? ?
Business Case
and Needs Assessment.
The ? ? ? and ? ? ? include a description of how the business value resulting from the project becomes part of the
organization’s ongoing operations, including the metrics to be used.
Benefits Management Plan and the Project Management Plan
The ? provide verification of the business value and validation of the project’s success.
Metrics
Development and maintenance of the project Benefits Management Plan is an ? activity and complements/contributes to the Business Case, Project Charter, and Project Management Plan.
iterative
The project manager works with the sponsor to ensure that the ??, ??? and the ??? remain in alignment throughout the life cycle of the project.
Project Charter, Project Management Plan, and the Benefits Management Plan
The ? ? is defined as a document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Project Charter
The ? ? ? is defined as the document that describes how the project will be executed, monitored, and controlled.
Project Management Plan
Traditionally, the project management metrics of time, cost, scope, and quality have been the most important factors in defining the success of a project but now it is equally important to include project ? to help measure success.
objectives
Besides the traditional metrics used to evaluate the success of a project it is critical to clearly document the project objectives and to select ones that are ?.
measurable
Three questions that the key stakeholders and the project manager should ask, answer, agree upon and document are:
?
- How will success be measured?
- What factors may impact success?
- What does success look like for this project?
Three questions that the key stakeholders and the project manager should ask, answer, agree upon and document are:
- What does success look like for this project?
?
- What factors may impact success?
- How will success be measured?
Three questions that the key stakeholders and the project manager should ask, answer, agree upon and document are:
- What does success look like for this project?
- How will success be measured?
?
- What factors may impact success?
Project success may include additional criteria linked to the organizational strategy and to the delivery of business
results. Some examples of ? ? that may be used are:
- Completing the project benefits management plan;
- Meeting the agreed-upon financial measures documented in the business case; including:
- Net present value (NPV),
- Return on investment (ROI),
- Internal rate of return (IRR),
- Payback period (PBP), and
- Benefit-cost ratio (BCR).
- Meeting business case non-financial objectives;
- Completing movement of an organization from its current state to the desired future state;
- Fulfilling contract terms and conditions;
- Meeting organizational strategy, goals, and objectives;
- Achieving stakeholder satisfaction;
- Acceptable customer/end-user adoption;
- Integration of deliverables into the organization’s operating environment;
- Achieving agreed-upon quality of delivery;
- Meeting governance criteria; and
- Achieving other agreed-upon success measures or criteria (e.g., process throughput).
project objectives
The ? ? needs to be able to assess the project situation, balance the demands, and maintain proactive communication with stakeholders in order to deliver a successful project.
project team
When the business alignment for a project is ?, the chance for project success greatly increases because the project remains aligned with the strategic direction of the organization.
constant
It is possible for a project to be successful from a scope/schedule/budget viewpoint, and to be unsuccessful from a business viewpoint. This can occur when there is a ? in the business needs or the market environment before the project is completed.
change
