Chapter 1 - Introduction : Pages 1 - 35 Flashcards
A temporary endeavor undertaken to create a unique product service or result
Project
Page 4
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
Outcome
Page 4
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. It can be tangible or intangible.
Deliverable
Page 4
A unique product that can be either a component of another item, an enhancement or correction to an item, or a new end item itself
Deliverable
Page 4
A unique service or capability to perform a service (e.g. a business a function that supports production or distribution)
Deliverable
Page 4
A unique result, such as an outcome or document (e.g. a research project, that develops knowledge that can be used to determine whether a trend exists or a new process will benefit society)
Deliverable
Page 4
A unique combination of one or more products. services, or results (e.g. a software application, its associated documentation, and help desk services)
Deliverable
Page 4
The temporary nature of projects does not necessarily mean that a project has a short duration, but rather that a project has a definite ________ and _________
Beginning and End
Page 5
________ drive change in organizations, as they are aimed at moving an organization from one state to another state in order to achieve a specific objective.
Projects
Page 6
The net quantifiable benefit (tangible, intangible, or both) derived from a business endeavor for project stakeholders
Business Value
Page 7
- Monetary Assets
- Stockholder Equity
- Utility
- Fixtures
- Tools
- Market Share
Tangible Business Value Elements
Page 7
- Goodwill
- Brand Recognition
- Public Benefit
- Trademarks
- Strategic Alignment
- Reputation
Intangible Business Value Elements
Page 7
Why might a project be initiated?
-Meet regulatory, legal, or social requirements
-Satisfy stakeholder requests or needs
-Implement or change business or technological strategies
-Create, improve, or fix products, processes, or services
(Page 7)
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements
Project Management
Page 10
What are the 3 separate scenarios in which a project may be managed?
-As a stand-alone project (outside of a portfolio or program)
-Within a program
-Within a portfolio
(Page 11)
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
Page 11
A very large project, that costs $1B or more, affects 1 million or more people, and runs for years
Megaproject
Page 11
Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives
Portfolio
Page 11
__________ and _________ management focus on doing programs and projects the “right” way
Program and Project Management
Page 12
___________ management focuses on doing the “right” programs and projects
Portfolio
Page 12
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
Page 14
The centralized management of one or more portfolios to achieve strategic objectives. The programs or projects of the portfolio may not be necessarily interdependent or directly related.
Portfolio Management
Page 15
An area outside the scope of formal project management as it is concerned with the ongoing production of goods and/or services.
Operations Management
Page 16
The framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives
Organizational Project Management (OPM)
Page 17
The series of phases that a project passes through from its start to completion; it provides the basic framework for managing the project
Project Life Cycle
Page 19
A collection of logically related project activities that culminates in the completion of one or more deliverables
Project Phase
Page 18
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 the program or project
Phase Gate
Page 18
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
Page 18
A logical grouping of project management inputs, tools, and techniques, and outputs that include: Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
Project Management Process Group
Page 18
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
Page 18
Project life cycles can be __________ or ___________
predictive or adaptive
Page 19
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 what?
Development Life Cycles
Page 19
These an be predictive, iterative, incremental, adaptive, or a hybrid model
Development Life Cycles
Page 19
Also referred to as waterfall life cycles, in this, the project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed.
Predictive Life Cycle
Page 19
In ___________________, 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. Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product.
Iterative Life Cycle
Page 19
In ___________________________, 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 Cycle
Page 19
These are agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration. Also referred to as agile or change-driven life cycles.
Adaptive Life Cycle
Page 19
This is a combination of a predictive and 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 Life Cycle
Page 19
The series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and retirement.
Product Life Cycle
Page 19
Depending on the organization, industry, or types of work, _________________ may be referred to by other terms such as phase review, stage gate, kill point, and phase entrance or phase exit.
Phase Gate
Page 21
The end result of a process
Outcome
Page 22
What are examples of processes that are used once or at predefined points in the project?
-Develop Project Charter
-Close Project or Phase
(Page 22)
What are examples of processes that are performed periodically/as needed?
-Acquire Resources
-Conduct Procurements
(Page 22)
What is an example of a process that is performed continuously throughout the project?
Define Activities
Page 22
____________ is independent of project phases
Process Groups
Page 23
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
Page 23
Those processes required to establish the scope of the project, refine objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve
Planning Process Group
Page 23
Those processes performed to complete the work defined in the project management plan to satisfy the project requirements
Executing Process Group
Page 23
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
Page 23
Those processes performed to formally complete or close the project, phase, or contract
Closing Process Group
Page 23
An identified area of project management defined by its knowledge requirements described in terms of its component processes, practices, inputs, outputs, tools and techniques
Knowledge Area
Page 23
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
Page 23
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
Page 23
Includes the processed required to manage the timely completion of the project
Project Schedule Management
Page 24
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
Page 24
Includes the processes for incorporating the organization’s quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meet stakeholder’s expectations
Project Quality Management
Page 24
Includes the processes to identify, acquire, and manage the resources needed for the successful completion of the project
Project Resource Management
Page 24
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
Page 24
Includes the processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project
Project Risk Management
Page 24
Includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team
Project Procurement Management
Page 24
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
Page 24
How many total knowledge areas are there in the PMBOK Guide?
10
Page 23
The raw observations and measurements identified during activities performed to carry out the project work
Examples: Reported percent of work physically completed, Quality and technical performance measures, Start and finish dates of schedule activities
Work performance data
Page 26
The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas.
Examples: Status of deliverables, implementation status for change requests, forecast estimates to complete
Work performance information
Page 26
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.
Examples: Status reports, memos, justifications, information notes, electronic dashboards, recommendations, updates
Work performance reports
Page 26
A system of practices, techniques, procedures, and rules used by those who work in a discipline.
Methodology
Page 28
Selecting the appropriate project management processes, inputs, tools, techniques, outputs and life cycle phases
Tailoring
Page 28
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
Page 29
The documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a project.
Project benefits management plan
Page 29
The ______________________ is generally accountable for the development and maintenance of the project business case document
Project Sponsor
Page 29
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
Page 29
________________ lists the objectives and reasons for project initiation; it helps measure the project success at the end of the project against the project objectives
Project Business Case
Page 30
___________________ often precedes the business case, and involves understanding business goals and objectives, issues, and opportunities and recommending proposals to address them
Needs Assessment
Page 30
What are the 3 examples of criteria categories that can be used for analysis of a situation?
-Required
-Desired
-Optional
(Page 31)
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
Project benefit
Page 33
The expected tangible and intangible value to be gained by the implementation of the project.
Target benefit
Page 33
How well the project benefits align to the business strategies of the organization
Strategic Alignment
Page 33
The accountable person to monitor, record, and report realized benefits throughout the time frame established in the plan
Benefits owner
Page 33
Factors expected to be in place, or to be in evidence
Assumptions
Page 33
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 (Page 34)
The document that describes how the project will be executed, monitored, and controlled
Project Management Plan
Page 34
When is it possible for a project to be successful from a scope/schedule/budget viewpoint, but be unsuccessful from a business viewpoint?
-When there is a change in business needs or the market environment before the project is completed
(Page 35)
