Chapter 1 Modern PM

Question 1

Complex, nonroutine, one-time effort limited by time, budge, resources, and performance specs designed to meet customer needs

Answer 1

Project

Question 2

Series of coordinated,related, multiple projects that continue over an extended time and are intended to achieve a goal

Answer 2

Program

Question 3

Defining - short
Planning - long time, small effort
Executing long time, long effort
Closing short

Answer 3

Project life cycle

Question 4

Manages temporary, non-repetitive activities; acts independently of the formal org.

Answer 4

Project Manager

Question 5

Compression of product life cycle
Knowledge explosion
Increased customer focus

Answer 5

Factors leading to increased project management

Question 6

Overview of all project management activities
Big picture of how organizational resources
Risk assessment of portfolio projects

Answer 6

Integration of project management

Question 7

Organizational Culture Environment
Strategic Alignment
Portfolio Management
Project Management

Answer 7

Integrated Management of Projects

Question 8

Projects that dont support organizations overall strategic plan&goals
Independent managerial decisions that create internal imbalances

Answer 8

Alignment of Projects with Organizational Strategy

Question 9

Oversee project selection
Monitor aggregate resource levels and skills
Encourage use of best practices
Improve communication among stakeholders

Answer 9

Major functions of Portfolio Management

Question 10

Technical:
- Scope
- WBS
- Schedules
Sociocultural
- Leadership
- Problem solving
- Teamwork
- Negotiation

Answer 10

Technical and Sociocultural Dimensions of PM Process