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2 - RMC PMP Exam Prep > Chapter 2 - Project Management Framework > Flashcards

Chapter 2 - Project Management Framework Flashcards

1
Q

Project

A

A project has the two characteristics:

1) Temporary, with a beginning and an end
2) It creates a unique product, service, or result

Example: construction to build a bridge

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2
Q

Why do projects exist?

A

Projects are created to provide business value and to deliver benefits defined in the business case and the benefits management plan.

Projects are designed to bring a positive change, usually to add or improve products/services.

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3
Q

What are the two types of work?

A

Operational and project work

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4
Q

Operational Work

A

Ongoing work to support the business and systems of the organization

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5
Q

Project Work

A

Project work ends when the project is closed

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6
Q

Organizational Governance

A

Refers to the overall structure of an organization, and it involves setting the policies and procedures for how work will be performed to meet high-level strategic goals

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7
Q

Project Governance

A

Includes the framework within which project work is performed across the organization.

May involve the creation or enforcement of processes and policies regarding areas such as risk, resources, communications, and change management.

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8
Q

Portfolio

A

Includes programs, individual projects, and other related operational work that are prioritized and implemented to achieve a specific strategic business goal

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9
Q

What is the benefit of combining programs, projects, and operations into one or more portfolios?

A

Combining programs, projects, and opetations into one or more portfolios helps optimize the use of resources, enhances the benefits to the organization, and reduces risk

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10
Q

Program

A

Collection of projects and other related work.

Focuses on the interdependencies between the projects, and may help decrease risk, achieve economies of scale, and improve management.

Projects should only be grouped into a program if there’s a benefit, i.e. it adds value to the organization

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11
Q

Process Groups

A
  1. Initiating
  2. Planning
  3. Executing
  4. Monitoring and Controlling
  5. Closing
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12
Q

Knowledge Areas

A
  1. Integration
  2. Scope
  3. Schedule
  4. Cost
  5. Quality
  6. Resource
  7. Communications
  8. Risk
  9. Procurement
  10. Stakeholder Management
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13
Q

Organizational Project Management (OPM)

A

Serves as a guide or driver for project, program, and portfolio management

A framework for keeping the organization as a whole focused on overall strategy

Also drives organizational strategy for portfolio, program, and project management

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14
Q

Project Management Office (PMO)

A

Departmental unit within an organization that provides or ensures compliance with project governance. The office oversees and standardizes project management

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15
Q

Supportive PMO

A

A supportive PMO provides the policies, methodologies, templates, and lessons learned for managing projects within the organization

Typically exercises a low level of control over projects

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16
Q

Controlling PMO

A

A controlling PMO provides support and guidance on how to manage projects, trains others in project management, assists with specific project management tools, and ensures compliance with organizational policies

Typically has a moderate level of control over projects

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17
Q

Directive PMO

A

A directive PMO provides PMs for different projects, and is responsible for the results of those projects; all projects are managed by this office

Typically has a high level of control over projects

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18
Q

Functional Org Structure

A
  • Grouped by areas of specialization within functional areas, such as accounting, marketing, or manufacturing.
  • When you see “functional” on the exam, think “silo”, where projects occur within a single department
  • Functional manager has control over the project
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19
Q

In a functional organization, what type of work do employees complete?

A

Employees complete project work in addition to their normal departmental work

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20
Q

Project-Oriented Org Structrue

A
  • The entire company is organized by projects, and the project manager has control of the project
  • When you see “project-oriented”, think “no home”
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21
Q

In a project-oriented organization, what type of work do employees complete?

A

Employees only complete project work, and when the projectis over, they do not have a department to go back to

22
Q

Matrix Org Structure

A
  • Team members report to both the project and functional manger(s)
  • This form is an attempt to maximize the strengths of both the functional and project-oriented structures
  • When you see “matrix”, think “two managers”
23
Q

In a matricized organization, what type of work do employees complete?

A

Employees complete project work in addition to normal departmental work

24
Q

Strong Matrix Power Rests With…

A

Power rests with the project manager

25
Q

Weak Matrix Power Rests With…

A

Power rests with the functional manager

26
Q

Balanced Matrix Power Rests With…

A

Power is shared between the functional and project manager(s)

27
Q

Project Expediter

A
  • Acts primarily as a staff assistant and communicatinos coordinator
  • CANNOT personally make or enforce decisions
28
Q

Project Coordinator

A

Similar to Project Expediter, but the Coordinator does have some authority and power to make decisions, and reports to a higher-level manager

29
Q

Which org structure to assume on the exam?

A

Matrix org structure

30
Q

Tight Matrix

A
  • Has nothing to do with org structure
  • Simply refers to colocation, or the practice of locating the work spaces for the team in the same room
  • Don’t get tripped up on this in the exam! They’ll use it to fool you
31
Q

Pros/Cons of Functional Org Structure

A

Pros

  • Easier management of specialists
  • Team members report to only one supervisor
  • Similar resources are centralized, as the company is grouped by specialists
  • Clearly defined career paths in areas of work specialization

Cons

  • People place more emphasis on their functional specialty to the detriment of the project
  • No career path in project management
  • PM has little or no authority
32
Q

Pros/Cons of Project-Oriented Org Structure

A

Pros

  • Efficient project organziation
  • Team loyalty to the project
  • More effective communications than functional
  • PM has more power to make decisions

Cons

  • No “home” for team members when project is completed
  • Lack of specialization in disciplines
  • Duplication of facilities and job functions
  • May result in less efficient use of resources
33
Q

Pros/Cons of Matrix Org Structures

A

Pros

  • Highly visible project objectives
  • Improved PM control over resources
  • More support from functional areas
  • Maximum utilization of scare resources
  • Better coordination
  • Better horiztonal/vertical info dissemination
  • Team members maintain a “home”

​Cons

  • Extra admin is required
  • Team members have more than one manager
  • More complex to monitor and control
  • Resourcing = complex
  • FMs might have different priorities than PMs
  • Higher potential for conflict
34
Q

Project Sponsor/Initiator

A

One who provides the financial resources for the project and also provides support for the project while protecting it from unnecessary changes

35
Q

Management

A

Anyone senior to the PM, incluiding program or portfolio managers

36
Q

Various Duties of Sponsor

A
  • Provides funding
  • Approves the PM plan
  • Provides formal acceptance of the deliverables (if the sponsor is the customer)
37
Q

Project Team

A

Group of people, including the PM, who will complete the work of the project

38
Q

Various Duties of Project Team

A
  • Create the WBS
  • Decompose work packages
  • Provide schedule and cost estimates
39
Q

Project Management Team

A

On larger projects, when there may be too much project management work to do for one person, the PM selects some project team members to help perform the project management activities

40
Q

Stakeholders

A

Anyone who will be impacted by the project or can influence the project. This includes:

  • Customer
  • Project manager
  • Project team
  • Project Sponsor
  • Program/Portfolio Manager
  • PMO
  • Functional Manager
  • Other departments/groups within the org
  • External sellers that provide services/materials for the project
41
Q

Various Duties of Stakeholders

A

Where appropriate…

  • Create project charter
  • Develop PM plan
42
Q

Portfolio Manager

A
  • Responsible for governance at an executive level of the projects or programs that make up a portfolio
  • Portfolio managers must ensure that selected projects provide value to the organization
43
Q

Program Manager

A
  • Responsible for managing a group of related projects
  • Program manager must manage related projects to achieve results not obtainable by managing each project separately
44
Q

Organizational Process Assets (OPAs)

A

The overall collection of processes, procedures, and policies, which apply to knowledge areas of the project

45
Q

Organizational Process Assets (OPAs)

Historical Info

A

Historical documents that can be used to plan and manage future projects, thereby improving the process of project management and avoding challenges experienced by past projects

46
Q

Organizational Process Assets (OPAs)

Lessons Learned

A

Lessons learned document what went right, what went wrong, and what the team would do differently if they had the opportunity to start over

47
Q

Enterprise Environmental Factors (EEFs)

A
  • Similar to OPAs in that they provide context within which to plan the project; however, EEFs are generally outside the control of the project team
  • Example: governmental or orther rules and regulations that apply to the performing organization
48
Q

Assumption Log

A

A repository of both assumptions and constraints, started at the time the project charter is developed

49
Q

Assumption

A
  • What management and stakeholders believe to be true about the project
  • Comparable to expectations, as they may not be entirely based on facts
50
Q

Constraints

A
  • Constraints limit options during planning and beyond, and are usually clearly imposed by management or the sponsor
  • Typical constraints include:
    • Schedule
    • Cost
    • Risk
    • Scope
    • Quality
    • Resources
    • Customer satisfaction
51
Q

Stakeholder Management

A

Keeping stakeholders informed, soliciting their input, and working to satisfy their needs and expectations

52
Q

Flow of Info From Data to Reports

A

Work performance data - initial measurements and details about activities gathered during the Direct and Manage Project Work process in executing

Work performance info - analyzed data that answers “what does this mean for the project”?

Reports - organized and consolidated work performance info

WPD –> WPI –> Reports

2 - RMC PMP Exam Prep (14 decks)

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