Chapter 3 Flashcards
Working with Management
Functional Organization
All team members including the PM, report to the Functional Manager. The PM has very little power. Decisions flow through the Functional Manager, who is the one running the show.
Matrix Organization
Allows a project team to incorporate resources from around the organization regardless of which department employees may work in. This structure blends the project team based on team members individual contributions and abilities.
3 types of Matrix
-Weak
-Balanced
-Strong
Matrix - Weak
The functional managers have autonomy and power over the project team members. The PM has limited authority on project decisions, except the project team members come from around the organization.
Matrix - Balanced
The PM and Functional Manager have equal power and autonomy over the project team.
Matrix - Strong
The PM has autonomy over the project and the project team.
Projectized Organization
The PM works with complete autonomy over the project. the project team is on the project full time and reports only to the project manager.
Scribe
A person who records the meeting minutes, business discussed, questions, and other important notes for your meeting.
Murder Board
A committee that asked every conceivable negative question about the proposed project. Their goal is to expose strengths and weaknesses of the project and kill the project if it’s deemed too risky for the organization to commit funds to.
AKA Project Selection Committee or Portfolio Management Board
Scoring Models (Weighted Scoring Models)
Models that use a common set of values for all the projects up for selection
Benefit/Cost Ration (BCR)
BCRs are often used in the cost-benefit analysis of determining whether or not a project should be initiated.
Payback Period
This is how long it takes for a project to “pay back” its cost.
AKA Management Horizon or the Break-Even Point.
Discounted Cash Flow
Accounts for the “time value” of money.
Formula for Future Value
FV = PV x (1 + i)n
FV is future value
PV is present value
i is the interest
n is the number of time periods (months, quarters, years, etc)
Net Present Value (NPV)
Evaluates the monies returned on a project for each time period the project lasts.
Maslows Hierarchy of Needs
Physiological, Safety, Social, Esteem, Self-actualization
McClellands Acquired Needs Theory ( AKA Three Needs Theory)
Need for Achievement, Affiliation, and Power
Herzbergs Theory of Motivation
Hygiene Agents - These elements are the expectations all works have (Job security, pay check, safe conditions, etc)
Motivating Agents - These elements motivate people to excel (responsibility, appreciation of work, recognition, chance to excel, education and other opportunities associated with work beyond financial rewards)
McGregors Theory X and Theory Y
X people are lazy, must be micromanaged, and generally cannot be trusted
Y people are wonderful people who are self-led, motivated, and can accomplish new assignments proactively.
Ouchi’s Theory Z
Workers are motivated by the commitment, opportunity, and advancements provided by the organization employing the workers.
Vroom’s Expectancy Theory
People will work win relation to the reward they expect for their work
Project Kickoff
A meeting or an event to introduce the project vision, the management backing the project, the PM and the team members.
Timeboxing
Means there is a time limit for the meeting.
Organizational Governance
The rules and policies that the PM must follow in your organization. Governance often comes from the PMO, if one exists.
Change Log
A document to record all changes to the project scope, schedule, and costs, that’ll help with any audits.
Change Control Board (CCB)
Review the change to determine its impact and value on the project deliverable.
AKA
Technical Review Board
Engineering Review Board
Technical Assessment Board
Standard
Guideline that’s appropriate for your industry
(As a rule - standards are optional, while regulations are not)
Regulation
A law that your project must follow
(As a rule - standards are optional, while regulations are not)
Capability Maturity Model Integration (CMMI)
Capability Maturity Model Integration (CMMI) is a process-level improvement training and appraisal program. It is required by many U.S. Government contracts, especially in software development. CMMI defines five maturity levels (1 to 5) for processes: Initial, Managed, Defined, Quantitatively Managed, and Optimizing. CMMI provides a prioritized pathway to build and implement new capabilities that deliver consistently measurable results and outcomes. It helps organizations streamline process improvement and encourage productive, efficient behaviors that decrease risks in software, product, and service development.
