Intro To Project Management Flashcards
Business Value
Total value of the tangible and intangible elements of an organization. Consider liquid assets, real estate, equipment, reputation, brand recognition and trademarks
Controlling PMO
Defines project governance through management frameworks, templates, forms, activities, and communications. PMO control is considered moderate.
Deliverable
Thing that a project crates; projects generally create many deliverables as part of the project work.
Directive PMO
Entity that managed and controls all projects within an organization. PMO control is high.
Iron Triangle
Term used to describe the three constraints of every project: time, cost and scope. The dudes of the triangle must be kept in balance or the quality of the project will suffer.
Management by Projects
Organization that uses projects to love the company forward is using this approach, these project-centric entities could manage any level of their work as a project.
Operations
Ongoing work of the business; a generic term used to describe the activities am that support the core functions of a business entity.
Organizational Project Management (OPM)
Organizational approach to coordinate, manage, and control projects, programs and portfolio management in a uniform consistent effort.
PMBOK Guide
Abbreviated definition for PMI’s A Guide to the Project Management Body of Knowledge.
PMP
PMP certified by PMI as a Project Management Professional.
Portfolio
Collection of projects and programs that have been selected by the organization based on factors such as risk, profitability, business value, business need, market demand and others.
Programs
Collection of projects working in unison to realize a common goal that could not be achieved by managing each project independently of others.
Progressive Elaboration
Process of starting with large ideas and through incremental analysis, actions and planning, making the idea more and more specific. Start with s broad scope snd work toward a specific detailed plan.
Project
An undertaking outside the normal operations to create a unique product, service, condition, or result. Projects are temporary, while operations are ongoing.
Project communication management
1/10 PM knowledge areas. Planning and management of communication amount stakeholders.
Project Cost Management
2/10 PM knowledge areas; estimating, budgeting, and controlling of expenses
Project Human Resource Management
3/10 PM knowledge areas; completed by people and PM oversees management of HR on the team.
Project Integration Management
4/10 PM knowledge areas; coordinates activists and completeness of all other 9 areas.
Project Management
Management of projects within an organization.
Initiation Planning Executing Monitoring and Controlling Closing
Project Management Office (PMO)
Organized and managed control over all projects within an organization and coordinate all aspects, methodology, and nomenclature for project processes, templates, software, and resource assignment.
Project Manager
Individual who manages project activities for an organization
Project Portfolio Managemt
Management process to select the project that should be invested in. Specifically process based on need, profitability can and affordability of proposed projects.
Project Procurement Management
6/10 PM knowledge areas; oversees purchasing and contract admin
Project Quality Management
7/10 PM knowledge areas; defines quality assurance, control and policy for project.
