Introduction Flashcards
project
temporary endeaver, undertaken to create a unique prodct, service, or result
unique product
can be either a component of another item, an enhancement or correction to an item, or a new end item in itself (e.g., the correction of a defect in an end item);
tailoring
Determining the appropriate combination of processes, inputs, tools, techniques, outputs and life cycle phases to manage a project
methodology
a system of practices, techniques, procedures, and rules used by those who work in a discipline.
standard
a document established by an authority, custom, or general consent as a model or example.
Why are projects undertaken?
to fulfill objectives by producing deliverables.
objective
an outcome toward which work is to be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced, or a service to be performed.
deliverable
any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project
T/F: Deliverables must be tangible
F: Deliverables may be tangible or intangible.
List some examples of tangible elements.
- Monetary assets
- Stockholder equity
- Utility
- Fixtures
- Tools
- Market share.
List some examples of intangible elements.
- Goodwill,
- Brand recognition
- Public benefit
- Trademarks
- Strategic alignment
- Reputation.
unique product
can be either a component of another item, an enhancement or correction to an item, or a new end item in itself (e.g., the correction of a defect in an end item)
unique service
or a capability to perform a service (e.g., a business function that supports production or distribution);
unique result
such as an outcome or document (e.g., a research project that develops knowledge that can be used to determine whether a trend exists or a new process will benefit society)
unique combination of one or more products, services, or results
(e.g., a software application, its associated documentation, and help desk services).
T/F: Repetitive elements may be present in some project deliverables and activities.
T
The end of the project is reached when one or more of the following is true:
- The project’s objectives have been ;
- The objectives will not or cannot be met;
- Funding is exhausted or no longer available for allocation to the project;
- The need for the project no longer exists (e.g., the customer no longer wants the project completed, a change in strategy or priority ends the project, the organizational management provides direction to end the project);
- The human or physical resources are no longer available; or nuThe project is terminated for legal cause or convenience.
T/F: Projects drive change in an organization.
T: project is aimed at moving an organization from one state to another state in order to achieve a specific objective
current state
before the project begins
future state
The desired result of the change driven by the project
business value
net quantifiable benefit derived from a business endeavor.
What 4 factors motivate the initiation of a project?
- Meet regulatory, legal, or social requirements;
- Satisfy stakeholder requests or needs;
- Implement or change business or technological strategies;
- Create, improve, or fix products, processes, or services.
Project management
the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
megaproject
A very large project , megaprojects cost US$1billion or more, affect 1 million or more people, and run for years.
project may be managed in three separate scenarios
as a stand-alone project (outside of a portfolio or program), within a program, or within a portfolio.
program
A program is a group of related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually.
portfolio
A portfolio is a collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.
project scope
Projects have defined objectives. Scope is progressively elaborated throughout the project life cycle.
project change
Project managers expect change and implement processes to keep change managed and controlled.
project planning
Project managers progressively elaborate high-level information into detailed plans throughout the project life cycle.
project monitoring
Project managers monitor and control the work of producing the products, services, or results that the project was undertaken to produce.
project success
Success is measured by product and project quality, timeliness, budget compliance, and degree of customer satisfaction.
program scope
Programs have a scope that encompasses the scopes of its program components. Programs produce benefits to an organization by ensuring that the outputs and outcomes of program components are delivered in a coordinated and complementary manner.
program change
Programs are managed in a manner that accepts and adapts to change as necessary to optimize the delivery of benefits as the program’s components deliver outcomes and/or outputs.
program planning
Programs are managed using high-level plans that track the interdependencies and progress of program components. Program plans are also used to guide planning at the component level.
program management
Programs are managed by program managers who ensure that program benefits are delivered as expected, by coordinating the activities of a program’s components.
program monitoring
Program managers monitor the progress of program components to ensure the overall goals, schedules, budget, and benefits of the program will be met.
program success
A program’s success is measured by the program’s ability to deliver its intended benefits to an organization, and by the program’s efficiency and effectiveness in delivering those benefits.
portfolio scope
Portfolios have an organizational scope that changes with the strategic objectives of the organization.
portfolio change
Portfolio managers continuously monitor changes in the broader internal and external environments.
portfolio planning
Portfolio managers create and maintain necessary processes and communication relative to the aggregate portfolio.
portfolio management
the centralized management of one or more portfolios to achieve strategic objectives
portfolio monitoring
Portfolio managers monitor strategic changes and aggregate resource allocation, performance results, and risk of the portfolio.
portfolio success
Success is measured in terms of the aggregate investment performance and benefit realization of the portfolio.
program component
projects and other programs within a program
Project management focus
interdependencies within a project to determine the optimal approach for managing the project.
Program management focus
the interdependencies between projects and between projects and the program level to determine the optimal approach for managing them
Operations management
concerned with the ongoing production of goods and/or services. It ensures that business operations continue efficiently by using the optimal resources needed to meet customer demands. It is concerned with managing processes that transform inputs (e.g., materials, components, energy, and labor) into outputs (e.g., products, goods, and/or services).
Projects can intersect with operations at various points during the product life cycle, such as
- When developing a new product, upgrading a product, or expanding outputs;
- While improving operations or the product development process;
- At the end of the product life cycle; and
- At each closeout phase.
organizational project management (OPM
a framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives.
PMBOK Guide Key Components
- Project lifecycle
- Project phase
- Phase gate
- Project management processes
- Project management process group
- Project management knowledge area
Project life cycle
The series of phases that a project passes through from its start to its completion.
Project phase
A collection of logically related project activities that culminates in the completion of one or more deliverables.
Phase gate
A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a program or project. The project’s performance and progress are compared to project and business documents
Project management processes
A systematic series of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs.
Project Management Process Group
A logical grouping of project management inputs, tools and techniques, and outputs. The Project Management Process Groups include Initiating, Planning, Executing, Monitoring and Controlling, and Closing. Project Management Process Groups are not project phases.
Project Management Knowledge Area
An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.
T/F: Project life cycle phases must be sequential
F: The phases may be sequential, iterative, or overlapping
development life cycle
one or more phases that are associated with the development of the product, service, or result.
T/F: Development life cycles must be iterative.
F: Development life cycles can be predictive, iterative, incremental, adaptive, or a hybrid model
predictive life cycle
the project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed. Predictive life cycles may also be referred to as waterfall life cycles
iterative life cycle
the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team’s understanding of the product increases. Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product.
incremental life cycle
the deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame. The deliverable contains the necessary and sufficient capability to be considered complete only after the final iteration.
Adaptive life cycles
agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration. Adaptive life cycles are also referred to as agile or change-driven life cycles.
hybrid life cycle
a combination of a predictive and an adaptive life cycle. Those elements of the project that are well known or have fixed requirements follow a predictive development life cycle, and those elements that are still evolving follow an adaptive development life cycle.
Life cycle flexibility may be accomplished by:
- Identifying the process or processes needed to be performed in each phase,
- Performing the process or processes identified in the appropriate phase,
- Adjusting the various attributes of a phase (e.g., name, duration, exit criteria, and entrance criteria).
Attributes
The phases in a life cycle can be described by a variety of attributes. Attributes may be measurable and unique to a specific phase.
Examples of Project Phase Attributes
- Name (e.g., Phase A, Phase B, Phase 1, Phase 2, proposal phase),
- Number (e.g., three phases in the project, five phases in the project),
- Duration (e.g., 1 week, 1 month, 1 quarter),
- Resource requirements (e.g., people, buildings, equipment),
- Entrance criteria for a project to move into that phase (e.g., specified approvals documented, specified documents completed), and
- Exit criteria for a project to complete a phase (e.g., documented approvals, completed documents, completed deliverables).
Examples of project phase names
- Concept development,
- Feasibility study,
- Customer requirements,
- Solution development,
- Design,
- Prototype,
- Build,
- Test,
- Transition,
- Commissioning,
- Milestone review,
- Lessons learned.
Phase Gate Business Documents to Compare
- Project business case
- Project charter
- Project management plan
- Benefits management plan
Phase Gate Descision Outcomes
- Continue to the next phase,
- Continue to the next phase with modification,
- End the project,
- Remain in the phase, or
- Repeat the phase or elements of it.
How is the project life cycle managed?
The project life cycle is managed by executing a series of project management activities known as project management processes. Every project management process produces one or more outputs from one or more inputs by using appropriate project management tools and techniques. The output can be a deliverable or an outcome.
The output of one process generally results in either
- An input to another process, or
- A deliverable of the project or project phase.
how often are processes used?
- once
- periodically
- continuously
examples of processes used once
Develop Project Charter and Close Project or Phase
examples of processes performed periodically
The process Acquire Resources is performed as resources are needed. The process Conduct Procurements is performed prior to needing the procured item.
examples of processes performed continuously
The process Define Activities may occur throughout the project life cycle, especially if the project uses rolling wave planning or an adaptive development approach. Many of the monitoring and control processes are ongoing from the start of the project, until it is closed out.
What are the 5 project management process groups?
- Initiating Process Group
- Planning Process Group
- Executing process group
- Monitoring and Controlling Process Group
- Closing Process Group
Initiating Process Group
Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
Planning Process Group.
Those processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.
Executing Process Group.
Those processes performed to complete the work defined in the project management plan to satisfy the project requirements.
Monitoring and Controlling Process Group.
Those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.
Closing Process Group.
Those processes performed to formally complete or close the project, phase, or contract.
T/F: Process groups are the same as project phases.
F
Knowledge Area
an identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.
What are the 10 knowledge areas?
- Project Integration Management
- Projec Scope Management
- Project Schedule Management
- Projec Cost Management
- Project Quality Management
- Project Resource Management
- Project Communications Management
- Project Risk Management
- Project Procurement Management
- Project Stakeholder Management
Project Integration Management
Includes the processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups.
Project Scope Management
Includes the processes required to ensure the project includes all the work required, and only the work required, to complete the project successfully.
Project Schedule Management
Includes the processes required to manage the timely completion of the project
Project Cost Management
Includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget.
Project Quality Management
Includes the processes for incorporating the organization’s quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meet stakeholders’ expectations.
Project Resource Management
Includes the processes to identify, acquire, and manage the resources needed for the successful completion of the project.
Project Communications Management
Includes the processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information.
Project Risk Management
Includes the processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project.
Project Procurement Management
Includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team.
Project Stakeholder Management
Includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.
Work performance data
The raw observations and measurements identified during activities performed to carry out the project work. Examples include reported percent of work physically completed, quality and technical performance measures, start and finish dates of schedule activities, number of change requests, number of defects, actual costs, actual durations, etc. Project data are usually recorded in a Project Management Information System (PMIS) (see Section 4.3.2.2) and in project documents.
Work performance information
The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas. Examples of performance information are status of deliverables, implementation status for change requests, and forecast estimates to complete.
Work performance reports
The physical or electronic representation of work performance information compiled in project documents, which is intended to generate decisions or raise issues, actions, or awareness. Examples include status reports, memos, justifications, information notes, electronic dashboards, recommendations, and updates.
What are the project business documents?
- Project Business Case
- Project benefits management plan
Project business case
A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities.
Project benefits management plan
the document that describes how and when the benefits of the project will be delivered, and describes the mechanisms that should be in place to measure those benefits.
Who is accountable for the development and maintenance of the project business case document?
Project sponsor
Who is responsibe for providing recommendations and oversight to keep the project business case, project management plan, project charter, and project benefits management plan success measures in alignment with one another and with the goals and objectives of the organization?
Project manager
T/F A needs assessment often precedes the business case.
T
What are the business case elements?
business need, analyzing the situation, making recommendations, and defining evaluation criteria
Business needs
- Determination of what is prompting the need for action;
- Situational statement documenting the business problem or opportunity to be addressed including the value to be delivered to the organization;
- Identification of stakeholders affected;
- Identification of the scope.
Analysis of the situation
- Identification of organizational strategies, goals, and objectives;
- Identification of root cause(s) of the problem or main contributors of an opportunity;
- Gap analysis of capabilities needed for the project versus existing capabilities of the organization;
- Identification of known risks;
- Identification of critical success factors;
- Identification of decision criteria by which the various courses of action may be assessed;
- Identification of a set of options to be considered for addressing the business problem or opportunity. Options are alternative courses of action that may be taken by the organization. Options may also be described as business scenarios.
Examples of criteria categories used for analysis of a situation
- Required. This is a criterion that is “required” to be fulfilled to address the problem or opportunity.
- Desired. This is a criterion that is “desired” to be fulfilled to address the problem or opportunity.
- Optional. This is a criterion that is not essential. Fulfillment of this criterion may become a differentiator between alternative courses of action.
Recommendation
- A statement of the recommended option to pursue in the project;
- Items to include in the statement may include but are not limited to: Analysis results for the potential option; Constraints, assumptions, risks, and dependencies for the potential options;
and Success measures. - An implementation approach that may include but is not limited to: Milestones, Dependencies, and Roles and responsibilities.
Evaluation
Statement describing the plan for measuring benefits the project will deliver. This should include any ongoing operational aspects of the recommended option beyond initial implementation.
What are some key elements of the project benefits management plan?
- Target Benefits
- Strategic Alignment
- Timeframe for realizing benefits
- Benefits owner
- Metrics
- Assumptions
- Risks
Target benefits
(e.g., the expected tangible and intangible value to be gained by the implementation of the project; financial value is expressed as net present value);
Strategic alignment
(e.g., how well the project benefits align to the business strategies of the organization);
Timeframe for realizing benefits
(e.g., benefits by phase, short-term, long-term, and ongoing)
Benefits owner
(e.g., the accountable person to monitor, record, and report realized benefits throughout the timeframe established in the plan);
Metrics
(e.g., the measures to be used to show benefits realized, direct measures, and indirect measures)
Assumptions
(e.g., factors expected to be in place or to be in evidence)
Risks
(e.g., risks for realization of benefits)
project charter
a document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
project management plan
the document that describes how the project will be executed, monitored, and controlled.
What metrics are used to measure project success?
- time
- cost
- scope
- quality
- achievement of project objectives
Three questions stakeholders and managers should ask when determining success?
- What does success look like for this project?
- How will success be measured?
- What factors may impact success?
