Exam Tips Flashcards
What is the difference between standards and regulations?
Standards: Not mandatory to follow, represents good practice.
Regulation: Mandatory to follow, comes from government.
What categories are contained in the PMI Code of Ethics and Professional Conduct?
Responsibility, respect, fairness, and honesty.
What is the difference between projects and operations?
Projects: Temporary (has a beginning & end), unique product, capability, or result, ends when objectives met or terminated, purpose is to meet objectives, then terminate.
Operations: Ongoing, standard products or repetitive service, generally repetitive process (follows existing procedures), purpose is to sustain business.
What is the difference between EEF and OPA?
EEF: internal/external environmental factors (org culture, marketplace conditions, stakeholder risk tolerances, PMIS, systems).
OPA: Plans, processes policies, procedures, knowledge bases (templates, guidelines, project files, historical info & lessons learned, dbase & knowledge bases containing org (not commercial) data).
What are the characteristics of customer/user stakeholders?
Will use the project’s product, result, or service
What are the characteristics of a sponsor stakeholder?
Provides money, champions the project, navigates political environment
What are the characteristics of a portfolio manager/review board stakeholder?
High level governance, organization executives, project selection committees
What are the characteristics of program manager stakeholders?
Manage a group of interrelated projects, provide benefits not achievable if projects are managed separately
What are the characteristics of PMO stakeholders?
Support and/or manage projects under the PMO’s domain
What are the characteristics of Project Manager stakeholder?
Responsible for achieving project objectives.
What are the characteristics of a Functional Manager stakeholder?
Provides management oversight to an administrative area.
What are the characteristics of Operational Management stakeholders?
Responsible for an area of the core business. Deals directly with the salable products or services.
What are the characteristics of Seller stakeholders?
External companies providing components or services.
What are the characteristics of Business partner stakeholders?
External companies that fill a specified role such as installation, customization, training, or support.
What are two types of project team composition?
Dedicated: most if not all members are full time, clear reporting, often more expensive, prevalent in projectized, but could also be in matrix (strong).
Part-time: most members part time, including program manager, spend time supporting other operations/projects, prevalent in functional orgs, also seen in matrix (weak) orgs.
What are the characteristics of Cost and Staffing levels in the project life cycle?
Low at the start, peak during intermediate phases, drop off quickly
What are the characteristics of Stakeholder influence, risk, and uncertainty in the project life cycle?
High at the start and gets progressively lower.
What are the characteristics of Cost of changes in the project life cycle?
Low at the start and gets progressively higher.
What are the characteristics of the Ability to influence product characteristics in the project life cycle?
High at the start and gets progressively lower.
What are the characteristics of a predictive project life cycle?
- Fully plan-driven
- Defined as early as possible
- Phases are sequential or overlapping
- Subset of activities and processes for each phase
- Used when the product to be delivered is well understood, there is a substantial base of industry practice, and/or the product must be delivered in full to have value.
What are the characteristics of an iterative and incremental project life cycle?
- Defined one iteration at a time
- Iterations performed in a sequential or overlapping fashion
- During each iteration activities from all process groups performed
- Used when a need to manage changing objectives and scope, to reduce the complexity of scope, and/or partial delivery of a product is beneficial and provides value.
What are the characteristics of an adaptive project life cycle?
- Change driven or agile
- Will be decomposed into a list of requirements
- Also considered iterative and incremental
- Each iteration is rapid and fixed in time and cost
- Several processes are performed in each iteration
- Early iterations focus more on planning
- Used in response to high level of change and stakeholder involvement.
Review Figure 3-1, Project Management Process Groups (p. 50)
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Review Figure 3-5, Project Data, Information, and Report Flow (p. 59)
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