Chapter 2 Flashcards
As a project manager in a balanced matrix organization, how much authority do you have?
Low to Moderate;
A PM has low to moderate authority in a balanced matrix organization.
What is a stakeholder?
Any individual or business that may be positively or negatively affected by the project.
What are operations?
Operations deal with day to day work and have no start or end date.
What is project management?
Project management is the application of knowledge, skills, tools, and techniques to meet the project requirements. Its about managing people to accomplish the scope of the project in given constraints of time and cost.
All projects are limited in time, cost and scope.
What is an Agile project?
Also known as an adaptive or change driven project where the product is built in small increments instead of all at once. Agile supports change and allows the customer to add requirements.
What is a hybrid project?
When predictive and agile are combined.
What is the value of projects?
The main reason a company does a project is to derive value from the output. Value can be tangible (money) or intangible (Repuatation)
What does ITTO stand for?
Inputs, Tools and Techniques and Outputs
What is a phase?
A phase is a division within a project where extra control is needed. A phase is completed with the completion of a deliverable. Each phase follows all process groups Initiation, Planning, Execution, Controlling and Monitoring, and Closing.
What are phase gates
AKA as kill points, phase reviews or stage gates. They are held at the end of each phase of a project to determine if the project is meeting it goals.
What are baselines?
There are 3 baselines on all projects: Scope, Time and Cost.
A baseline is the original plan plus any approved changes
Cost baseline = Budget
Schedule Baseline = Project Schedule
Scope Baseline = what needs to get done.
What is a standard?
Is approved by a recognized body that provides guidelines e.g. PMBOK
What is a system?
Includes all the formal procedures and tools put in place to manage something.
What are regulations?
Regulations are official documents which must be followed and are generally imposed by law. E.G PHIPPA
What are lessons learned?
Recorded at the end of every project and are examined so the next time you do it better.
What is a constraint?
All projects are constrained by their scope, cost, quality, resources, and risk.
What is a program?
A program is a collection of projects containing a common goal managed by a program manager.
What is a predictive lifecycle?
It is when the scope, cost and time are known early in the project.
What is a virtual organizational structure?
Where is project management is done virtually using different types of computer technology. PM authority is low to moderate and will generally share resources.
What is a functional organizational structure?
PM has very little control. Resources are controlled by a functional manager and even the PM reports to a functional manager.
What is a Project?
A temporary endeavor with a defined beginning and end which produces a unique service product or results.
What is a hybrid organizational structure?
When a company uses more the one type of organizational structure? e.g. may be functional in operations but project oriented in another department.
What is a matrix?
A business structure between functional and projectized. There are 3 types
Weak - PM has a little more power but low authority
Balanced - PM power is equal to functional manager
Strong - PM has the most power and is generally a full-time position
What is an organic or simple organizational structure?
Role of the PM doesn’t really exist. PM is often part-time and the owner generally controls the budgets.
What is a process group?
A set of processes that a project manager may be doing at one times. There are 5
Initiating Planning Execution Controlling and Monitoring Closing
What is a deliverable?
The part of a project that is presented to the customer or stakeholders for acceptance. To know if a deliverable is good or not it must be accepted by the client
What is a project oriented structure?
Where the PM controls 100% of the resources.
What is project governance?
The framework, functions and processes that a company will follow in order to complete a project.
What is a PMO?
Provides guidance and support for all project managers in the company. Ensure standards are followed and can be broken into supportive (low auth), controlling (Moderate auth) or directive (full auth)
What is a knowledge area?
A set of processes that are usually defined by the knowledge needed to manage that area. There are 10 knowledge areas Integration, scope, schedule, cost, quality, resources, communication, risk, procurement and stakeholders.
What is historical information?
Records which have been learned from previous projects. Can include templates and lessons learned.
What is a portfolio?
A collections of projects and programs which are implemented to achieve a strategic business goal and are managed by a portfolio manager.
What is an incremental or adaptive development lifecycle?
When the scope is known early but the time & cost will be refined as the project is progressing. This is done using iterations of the products.
