Foundation Key Concepts

Question 1

Project

Answer 1

a temporary endeavor undertaken to create a unique product, service or result

Question 2

Program

Answer 2

a group of related projects that are coordinated allowing for more control

Question 3

Portfolio

Answer 3

a collection of projects and programs that are aligned to achieve strategic business objectives

Question 4

Project Life Cycle

Answer 4

a group of project phases defined by an organization into a framework allowing for more control

Question 5

Baseline

Answer 5

the original approved plan plus/minus all approved changes; the current approved version of the plan

Question 6

System

Answer 6

a set of formal policies, procedures, rules, or processes that defines how things are sone

Question 7

Progressive Elaboration

Answer 7

an iterative approach to planning; plans are created in multiple passes rather than all at once

Question 8

Historical Information

Answer 8

documents or date from previous projects which are used to assist in future project decisions

Question 9

Enterprise Environmental Factors

Answer 9

the environment you work in that can impact your project; corporate culture, industry standards, infrastructure, political climate, market conditions, etc.

Question 10

Organizational Process Assets

Answer 10

any documented processes and procedures; corporate knowledge base (e.g. project archives)

Question 11

Functional Organizational Structure

Answer 11

a departmentalized structure where employees work only for one manager; project manager has little or no power

Question 12

Matrix Organization Structure

Answer 12

employees report to both a functional manager and a project manager (power is shared); in a weak matrix the PM has little power, in a balanced matrix the PM has moderate power, and in a strong matrix the PM has nearly full power and authority

Question 13

Projectized Organization Structure

Answer 13

employees work directly for and report only to the project manager, project manager has full power and authority

Question 14

Stakeholder

Answer 14

a person or organization who is actively involved in the project, or whose interest may be positively or negatively impacted by the project, or who might exert influence over the project

Question 15

Business Case (reasons to do a project)

Answer 15

market demand, business need or strategic opportunity, customer request, technological advance, legal requirement, ecological impact, social need

Question 16

Project Expeditor

Answer 16

staff assistant to the executive who has responsibility for the project; can make few if any decisions; primarily responsibility lies in assuring the timely arrival of resources

Question 17

Project Coordinator

Answer 17

reports to a higher level in the hierarchy; has authority to assign work to individuals, but lacks full authority of project manager

Question 18

Project Manager

Answer 18

tasked with achieving the project objectives, lead person responsible for communicating with all stakeholders including sponsor; may report to a functional manager or program or portfolio manager