High Level Project Management Info

Question 1

What does PMI stand for and what is it?

Answer 1

Project Management Institute.

• Professional org
• Sets standards, provides resources, and offers certifications (like the PMP, Project Management Professional) to advance in project management.
• Publishes the PMBOK® Guide, a foundational reference for PM best practices
• Provides training, networking, and research to help professionals and organizations achieve successful project outcomes.

Question 2

What is PMBOK?

Answer 2

PMBOK is a guide to the Project Management Body of Knowledge.

Published by PMI, it outlines best practices in project management. Foundational resource and forms the basis for PMI.

Organizes project management processes into a framework - five process groups and ten knowledge areas.

Question 3

What are the 5 PMBOK Process Groups?

Answer 3

1. Initiating
2. Planning
3. Executing
4. Monitoring and Controlling
5. Closing

Question 4

Explain the PMBOK Initiating Phase

Answer 4

• Defines and authorizes the project.
• Key activities include developing the project charter, identifying stakeholders, and determining feasibility.
• Focus: Establishing a clear vision and securing approval to proceed.

Question 5

Explain the PMBOK Planning Phase

Answer 5

• Involves creating a detailed roadmap for achieving project objectives.
• Includes defining scope, budget, schedule, risks, quality metrics, and resources.
• Focus: Ensuring all stakeholders understand the plan and agree on expectations.

Question 6

Explain the PMBOK Executing Phase

Answer 6

• Turns the project plan into action by coordinating people and resources.
• Includes managing teams, assigning tasks, and ensuring quality standards are met.
• Focus: Delivering the project deliverables according to the plan.

Question 7

Explain the PMBOK Monitoring and Controlling Phase

Answer 7

• Runs alongside execution to track project performance, manage changes, and address risks.
• Focus: Ensuring the project stays on track, within scope, time, and budget.

Question 8

Explain the PMBOK Closing Phase

Answer 8

• Finalizes the project, delivers the product or service, and ensures all documentation is completed.
• Includes lessons learned, stakeholder acceptance, and resource release.
• Focus: Completing all project work and gaining formal closure.

Question 9

What is a Project Charter?

Answer 9

A project charter is a formal document that authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.

It outlines key details about the project, including its objectives, scope, stakeholders, and high-level requirements. The project charter serves as a foundation for project planning, guiding the project’s direction and providing a clear understanding of its purpose. It is typically created during the Initiating process group.

Question 10

Define scope

Answer 10

• Scope refers to the boundary or extent of a project.
• It defines what will and will not be included in the project deliverables.
• Outlines specific goals, tasks, features, and outcomes to be achieved.
• Gives stakeholders a clear understanding of the project’s work.
• Helps prevent scope creep by setting clear limits on what is part of the project and what is not.
• Guides development of WBS (Work Breakdown Structure).
• Typically defined in the project scope statement during the Planning Phase.
• Key inputs needed to create it: Project Charter, Requirements Documentation (what stakeholders expect), Org. Process Assets (templates, data, or guidelines for creating scope statement)

Question 11

What is a project stakeholder?

Answer 11

• Interest in project outcomes: Does the person care about the success or failure of the project?
• Influence on the project: Can they affect project decisions or progress?
• Impact from project results: Will the project’s success or failure affect them?

Question 12

What are the 10 PMBOK Knowledge Areas?

Answer 12

Project Integration Management

• Focuses on coordinating all project elements to ensure alignment with the overall objectives.
• Includes developing the project charter, managing changes, and closing the project.

Project Scope Management

• Ensures all required work (and only the required work) is completed.
• Involves defining, validating, and controlling the project scope.

Project Schedule Management

• Deals with creating and maintaining the project timeline.
• Includes activities like sequencing tasks, estimating durations, and monitoring progress.

Project Cost Management

• Involves planning, estimating, budgeting, and controlling project costs.
• Ensures the project is completed within the approved budget.

Project Quality Management

• Focuses on ensuring the project meets defined quality standards.
• Includes quality planning, assurance, and control.

Project Resource Management

• Manages the project team and physical resources.
• Includes acquiring, developing, and managing the project team.

Project Communications Management

• Ensures timely and effective communication with all stakeholders.
• Involves creating a communication plan, distributing information, and managing stakeholder expectations.

Project Risk Management

• Focuses on identifying, analyzing, and responding to risks.
• Includes risk planning, monitoring, and control to minimize negative impacts.

Project Procurement Management

• Manages the acquisition of goods and services from external vendors.
• Includes contract management, vendor selection, and procurement closure.

Project Stakeholder Management

• Ensures stakeholders’ needs and expectations are met.
• Includes identifying stakeholders, managing their engagement, and addressing concerns.