Chapter 3.1 Flashcards

1
Q

define project life cycle

A

stages that a project goes through from its initiation to its closure

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2
Q

define product life cycle

A

the entirety of the products life, from initiation to retirement

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3
Q

define pre-work activity

A

-tasks and processes undertaken before a project is formally initiated
-ensure project is well-planned, feasible, and aligned with organizations goals

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4
Q

acronym SOW

A

statement of work

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5
Q

name 3 pre-work ativities

A

SOW, feasibility study, and business case

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6
Q

define a business case

A

-provides detailed analysis of costs, benefits, and risks with project
-justify project to stakeholders by demonstrating ROI and impact on org

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7
Q

define feasibility study

A

-evaluation of whether project is technicially, financially, and economically feasible
-assesses potential risks and benefits, determines whether project is work pursuing based on resources, market conditions, and other factors

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8
Q

Define SOW

A

-outlines scope and objectives of project, as well as work that will be performed to achieve them
-what needs to be done, who will do it, how it will be done, and when

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9
Q

what do project phases do?

A

-see the project as a whole and still focus on completing the project one phase at a time
-allow pm/org to have better control over work done in each phase

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10
Q

what is determined before each phase of a project?

A

-work that will happen in phase
-deliverables from that phase
-how deliverables will be reviewed, approved, and validated
-needed resources for that phase
-how phase will be approved to allow successor phase to launch

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11
Q

common flow of a construction project in relation to phases?

A

research, preconstruction, site work, foundation, framing, rough-in, interior finishes, exterior finishes, landscaping

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12
Q

define a phase-end review

A

determines whether the phase deliverable has met all its obligations and, if it has, authorizes next phase
-phase exit/phase gate, or go/no-go point

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13
Q

define fast-tracking

A

overlapping phases

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14
Q

how can fast-tracking put a project at risk?

A

insufficient planning, overlapping tasks, and increased resource constraints

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15
Q

when is a projects success most at risk of not being successful?

A

early phases of the project

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16
Q

define process

A

set of actions and activities to achieve a product, result, or service

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17
Q

a successful project depends on what 5 things? (pertaining to processess)

A

-using appropriate processes at appropriate times
-following defined pm approach for execution and control
-developing solid pm plan for all areas of project
-comforming project to customer requirements and expectations
-balancing project scope, schedule, cost, quality, resources, and risks while meeting project objectives

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18
Q

define the “plan-do-check-act” method

A

the end of one process launches another.
-ie, end of the planning process enables the launch of the doing process.
-once completed, you check it, and if its good, you move right into the acting

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19
Q

acronym PDCA

A

plan-do-check-act

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20
Q

what is a project portfolio?

A

-defines the rules for selecting, maintaining, and even funding

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21
Q

define project portfolio management

A

-defines the projects that should be selected based on need, risk and reward, ROI, and any other issues an organization identifies
-focuses on initiation of best programs and projects org should invest in
-not overly concerned with how program and project should be managed

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22
Q

who is generally directly involved with portfolio management?

A

senior management, usually not PM
-senior mgmt is focused on what best works for organizations mission/goals

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23
Q

what do portfolio managers do?

A

-manage portfolio management processes (selecting projects, distributing risk exposure, and ensuring strategic alignment with org

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24
Q

what is project portfolio management?

A

-selection, management, and collection of projects within org
-unlike program, project in portfolio may not be directly related, but contribute to org success
-ie construction company portfolio of high-profile projects that could change a cities skyline

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25
Q

what is a program?

A

-collection of related projects organized to gain benefits from the projects that wouldn’t be realized if projects were managed independently
-not a large project, just collection of projects
-ie a skyscraper program: structure, elevators, electrical, plumbing, etc.

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26
Q

main takeaway for a program?

A

projects are usually contributing one major delierable and can work together to save time, effort, and dollars
-program managers manage programs, and pm work within them on seperate projects

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27
Q

what is progressive elaboration when it comes to project planning?

A

start with a very broad concept, then, throughs steady progressions, gather more detail to clarify the concept of the project.

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28
Q

define organizations that “management by projects”

A

org that operates by relying heavlily on project management principles to complete work.
-generally treat every undertaking as a project

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29
Q

name some reasons a project will be put into action

A

-opportunity (market demand, etc)
-organizational needs
-customers
-technology
-legal requirements

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30
Q

what are ways that projects can create value?

A

-improved efficiency
-enhanced customer experience
-increased revenue
-competitive advantage
-improved employee satisfaction
-better quality
-better decision making

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31
Q

what is a sub-project?

A

smaller project thats been lopped off from a larger project
-ie when building a new house, adding a home theater

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32
Q

what are some examples of subprojects?

A

-single phase within a project life cycle (ie construction of house, each phase could be a subproject)
-human resource skill sets (plumbers, electricians, carpenters, on a new house)
-specialized tech, materials, or activities (new type of siding for home construction)

33
Q

difference between projects and operations?

A

projects are temporary, operations are ongoing

34
Q

when will a pm most likely work directly with operations?

A

at the end of a project, when transfering deliverables

35
Q

what is operational transfer?

A

transfering the deliverables of the project ownership into operations

36
Q

acronym SLA

A

Service-Level Agreement

37
Q

what is a development approach?

A

means used to create and evolve a product, servie, or result during the project life cycle

38
Q

what is a predictive approach?

A

predicts the work that will happen in each phase of the project
-also called plan driven or traditional approach
-changes to scope are less common/more controlled

39
Q

what is an adaptive approach?

A

-great deal of uncertainty
-little planning can be done up front
-ie highly complex IT projects

40
Q

what is an iterative approach?

A

-starts with a vision of project scope, BUT schedule/costs are rough estimates
-work is divided into chunks of time (Iterations)
-allow to work on top requirements first and also apply lessons learned on future iterations
-have predefined types of work, such as features defined, designed, developed, and tested
-iterations also called timeboxed periods or sprints

41
Q

what is an incremental approach?

A

-similar to iterative, BUT deliverables are created in increments
-features are added incrementally until project is complete
-like an assembly line process: feature added in predefined increments from start to finish

42
Q

what is a hybrid approach?

A

combination of predictive and adaptive
-components that are established will follow predictive approach
-components that are not fully defined follow adaptive

43
Q

basic difference between all of the approaches? (Predictive, etc)

A

-predictive predicts as much as possible, uses baselines to minimize changes
-iterative repeats same steps for each iteration, building outcome in chunks
-incremental builds in increments, adding functionality until complete
-adaptive uses iterative and incremental
-hybrid is combination of predictive and addaptive

44
Q

what are some factors that can impact success of a project?

A

issues, risks, assumptions, and constraints

45
Q

what are “issues”?

A

unexpected events that you document and manage to prevent them from causing risks
-events that have happened, that reoccur, or that are going to happen

46
Q

what goes on a project issue log?

A

-date identified
-person identifying issue
-details about the issue
-summary of the issue
-prioritization
-issue owner
-target resolution date
-current status
-final outcome

47
Q

what are some common “issues”?

A

-difference of opinion
-situations to be investigated
-unanticipated responsibilities that need to be assigned

48
Q

what is a risk?

A

uncertain event or condition that could have POSITIVE or NEGATIVE impact
-negative risks are threats
-positive risks are opportunities
-ie leftover shrimp cocktail

49
Q

what is the willingness to accept risk called?

A

utility function

50
Q

term for the amount of risk youll take on if you go ahead?

A

risk tolerance

51
Q

term for how much risk youll accept in relation to the reward the risk may bring?

A

risk appetite

52
Q

where can risks exist?

A

organizatoin, program, portfolio, and a project…everywhere

53
Q

term for risks you can readily identify

A

known risks

54
Q

term for risks that are more ambiguous (weather)

A

known unknowns

55
Q

define project risk

A

likelihood of the overall project being successful for the organization

56
Q

the project manager will need what documents to identify project risks?

A

-assumption log
-cost estimates
-duration estimates
-issue log
-lessons learned register
-resource requirements
-resource documents
-stakeholder register

57
Q

what is one of the first steps taken in risk identification in a project?

A

-review project documentation (project plan, scope, and other project files)

58
Q

what is an “assumption”?

A

-something you believe to be true but isnt proven
-can include expected performance from a vender, reliability of equipment, access to resources, weather, and more

59
Q

what is assumption analysis?

A

-examining assumptions to see what risks may stem from false assumptions

60
Q

what do you do when an assumption is identified

A

document it in the assumption log

61
Q

what are constraints?

A

-factors that limit the options of the pm
-can quickly endanger project success
-ie schedule, budget, resources, risks, etc
-mgmts responsibility to analyze impacts that changes will have according to constraints

62
Q

what are communication constraints?

A

-anytning that limits project manager teams options when it comes to communication
-geographical, incompatible software, etc.

63
Q

what type of projects use the triple constraints of project management?

A

predictive

64
Q

what type of projects use the inverted triangle to represent constraints?

65
Q

which type of projects do not necessarily use milestones?

A

agile, as they are often changing/unknown
-use roadmaps, attempt to lay out release points like milestones

66
Q

describe the triple constraints triangle (clockwise), and the agile triangle of constraints (inverted)

A

-scope, cost, time, on the triple, where scope is fixed and cost varies
-cost, scope, time on agile, where time is fixed and scope varies

67
Q

one of the major tasks of project management dealing with this area?

A

balancing of competing constraints on a project

68
Q

what is scope creep?

A

-doing what should never have entered the scope in the first place
-means wasted time and dollars

69
Q

what is a predictive-plan based approach?

A

predicts what will be created and how

70
Q

what is an adaptive approch?

A

expects change to happen

71
Q

how is the scope handled in an adaptive approach project?

A

-defined and decomposed in the product backlog
-in each iteration, team will collect requirements, define scope, and create the WBS for that iteration

72
Q

what are user stories?

A

quick descriptions of the requirement from the user perspective

73
Q

what are story points?

A

represent how much effort is required to create the user story
-only so many points available for each iteration (also called sprints in agile projects)
-number of available points vary by project

74
Q

what are epics?

A

describe really big requirements broken down into stories and span multiple iterations of the project

75
Q

what 2 processes happen in each iteration of a project?

A

-validate scope
-control scope

76
Q

acronym RTM?

A

Requirements traceability matrix

77
Q

what is the RTM?

A

-documents and numbers each requirement and status, shows how each requirement is linked to specific deliverable
-tool for controlling project scope
-ensures all project requirements are addressed and fulfilled
-provides clear way to track relationship between requiremetns and deliverables, tasks, or test cases

78
Q

what are some benefits to tracing requirements in project scope?

A

-improved project planning
-enhanced communication
-better risk management
-increased project visibility
-improved quality assurance
-better stakeholder engagement`

79
Q

4 key foundational values for any pm?

A

-responsibility, respect, fairness, honesty