Course 2 Flashcards
_______ is the first phase of a project and begins after a problem or opportunity is identified
initiation
______ the project manager ask questions to the stakeholders, perform research to identify project goals, determine resources and documenting clear components of a project
during the initiation phase
a proper initiation should conduct a _______ to ensure the benefits of the project outweigh the costs.
a cost analysis
what determines the benefits by identifying values, cost-effectiveness, earning, time efficiency, and the way to improve user experience?
cost analysis
a _________ determines the costs by indicating the time spent by ppl as well as one time, ongoing and long-term costs
cost analysis
6 key components for project initiation:
1.) goals
2.) scope
3.) deliverables
4.) success criteria
5.) stakeholders
6.) resources
_____ determines what to do and try to achieve it with senior company leaders
goals
the process of defining the work to complete the project is called the ______.
scope
______ are tangible and/or intangible products and services to deliver
deliverables
________ is the criteria for measuring how successful a project was in reaching the goals
success criteria
_____ are decision makers that determines the goals, scope, deliverables and success criteria. it’s important to understand their needs and ensure that all of them agree with the goals
stakeholders
budget, people, materials and other items are _____.
resources
a ______ is a document that contains all the details of the project.
project charter
________ includes:
1) minimizing risks and maximize gains for projects and organizations
2) clear communication between stakeholders and executives and keeping the project on track
3) help reduce biases and keep stakeholder self-interest from influencing decisions because cost analysis uses objective data
the benefits of a cost-benefit
the process of calculating costs and benefits is ______.
calculating ROI or return of investment
to determine a projects ROI is to compare the upfront and ongoing costs to its benefits overtime
(G-C) ÷ C = ROI
G = financial gains expected from the project
C = the upfront and ongoing costs of your investment in the project
______ is the desired outcome of a project.
a project goal
_____ is clear and measurable
a well-defined goal
____measure and recognize the project’s impact to know whether you’ve accomplished the project
project deliverables
ask questions about what the deliverables should be and everyone should share their vision and expectations of the deliverables so everyone is on the same page
SPECIFIC
MEASURABLE
ATTAINABLE
RELEVANT
TIME-BOUND
SMART goals
SMART methods are used to evaluate the project’s goals.
- the desired accomplishments
- the reason behind the goal
specific purpose or benefit
people who are involved - recipients (employees, customers, the community?)
- where to deliver the requirements and constraints
specific goals
_____ determine that the goals were objectively met
- to track progress and stay motivated
- uses metrics, numbers or figures used to measure goals
- benchmarks or points of reference is to make sure metrics are accurate
measurable goals
attainable goals:
- how can it be accomplished? can it be reasonably reached?
- a challenging goal promotes growth but not too extreme so that it can be attained
should match the org’s goals, priorities and values and should be worthwhile
timing, both the amount of time to complete the project and to sustain the project overtime under changing budget and audience who use the products has big impacts
relevant goals
the goal has a deadline refers to a ______.
time-bound
OKRs or ________ refers combine a goal and a metric to determine a measurable outcome
objective and key results
1.) help establish and clarify goals or objectives for an organization, dept., project or person.
2.) breakdown and clarify the components of the SMART goals rather than uniting everything
3.) combine a goal and a metric to determine a measurable
OKRs
_______the ways for knowing whether the objective has been met/achieved
key results
organizations set OKRs at 3 levels:
1.) company/organization level
2.) department/team
3.) project
____is less specific and more aspirational than _____
OKRs; SMART
______ tend to measure a single metric, such as profitability or quality
SMART
set SMART goals annually; OKRs on a quarterly or monthly cycles, which makes them more agile than SMART goals
a project scope
defines all details of the project; everything should be either included or excluded
what are tasks included in the project plan and contribute to the project’s goal?
in-scope
what are tasks that are NOT included in the project plan and don’t contribute to the project’s goal?
out-of-scope
a project manager’s role is to set and maintain firm boundaries to avoid tasks that are out scope
_____ refers to changes, growth, and uncontrolled factors that affect a project’s scope at any point after the project begins
scope creep
if you’re working on a project with one main customer, the customer might request changes, or the business environment around you might shift, or the underlying technology you’re using might change.
which source of scope creep is this example?
external
a product developer will justify a decision on the grounds of making the product better, even though it’s going to cost more, or a team lead might decide that a certain process is more efficient without realizing the impact the change in process will have on other team members tasked with different parts of the project.
which source of scope creep is this example?
internal
a tool to decide if the change in scope is acceptable. it helps in understanding the impacts. 3 most significant elements in the model includes:
project scope
time (schedule and deadline)
cost (budget, resources and ppl who will work)
the triple constraint model
changing one constraint will affect the other two; thus, it is essential to prioritize among scope, time, and cost.
________ is delivering the final result to the client or user, and it doesn’t indicate success.
a project launch
to measure the success using success criteria established at the outset of the project is ______
project landing
the standards to measure whether the project has met the goals, deliverables, requirements and expectations, which will be judged after delivering it to the stakeholders and customers
success criteria
success criteria is a method for measuring success that includes:
- all details of goals and deliverables
- guides you to know whether the project attained its intended outcomes
- sets standards for how a project will be judged
people who are interested in and affected by the project’s completion and success are called _____.
stakeholders
what are tools that help clarify roles and responsibilities and prevent confusion on who takes ownership of which tasks?
stakeholder mapping and analysis and RACI charts
project sponsors:
- accountable for the project
- ensures the project delivers the agreed upon value
- vital leadership
- funds the project sometimes
- may have direct communication with key stakeholders and managers
team members:
- heart of operation
- perform the day to day work
- make the project happen
customers:
- ppl who get value from a successful landed project
- their needs define the requirements
- can be considered as buyers
users:
uses the product
primary stakeholders:
stakeholders involved in the project and benefit directly from the project
secondary stakeholders:
stakeholders that are indirectly impacted
ex. contractors or members of a partner organization
a visual representation of all stakeholders involved directly or indirectly is called _______.
a stakeholder analysis
3 key steps of a stakeholder analysis:
1.) list stakeholders
2.) interest and influence on the project
3.) asses their availability to the project
________measures the power and actions of a stakeholder while ______measures the effect of the project on their needs
influence; interest
______ a two-way grid used for analysis to determine the stakeholders roles based on position on the grid. thus, a project manager knows how to manage stakeholders
a power grid
_____has the authority to change and approve budget and timeline or scopes
a steering committee
what is the process of involving stakeholders to have an agreement about the organization’s future?
stakeholder buy-in
RACI chart includes:
- responsible: doing the work to complete the task
- accountable: ensuring the work gets done
consulted: giving feedback - informed: needing to know the final decisions
resources are important to achieving a project. it includes:
- budget
- people
- materials
______ is needed to gather information and keep track of it.
documentation
benefits of documentation:
- ensures transparency and clear communication
- sets the stages for the project
- communicate answers to key questions
what are 2 types of documentation that track details and keep stakeholders informed?
project proposal and project charter
______ persuades a stakeholder to begin a project?
a project proposal
______ clearly defines the project and outlines the necessary details needed to reach its goals.
a project charter
productivity tools:
word processing tools like Microsoft Word and Google docs, spreadsheets, presentations
collaboration tools:
email and chat
- create shared documents
- meeting agendas
- status updates
productivity tools
- versatile
- make RACI charts
- project plans
- other charts
spreadsheets
- powerpoint
- keynote
- google slides
- good to package a project in a visual digestible way
presentations
