INTRODUCTION Flashcards
What is A Guide to the Project Management Body of Knowledge Fifth Edition?
The guide provides guidelines for managing individual projects and defines project management related concepts. It also describes the project management life cycle and its related processes, as well as the project life cycle. The PMBOK Guide contains the globally recognized standard and guide for the project management profession.
What is a standard?
Is a formal document that describes established norms, methods, processes, and practices.
What is Annex 1 in the PMBOK Guide?
Annex 1 is the standard for project management and presents the processes, inputs, and outputs considered to be good practice on most projects most of the time. Annex A1 is a foundational reference for PMI’s project management professional development programs. Annex A1 continues to evolve along with the profession and is therefore not all-inclusive; this standard is a guide rather than a specific methodology. One can use different methodologies and tools (e.g., agile, waterfall, PRINCE2) to implement the project management framework.
The acceptance of project management?
As a profession indicates that the application of knowledge, processes, skills, tools and techniques can have a significant impact on project success.
What is generally recognized mean?
Means the knowledge and practices described as applicable to most projects most of the time, and there is consensus about their value and usefulness.
What is good practice mean?
Means there is general agreement that the application of the knowledge, skills, tools, and techniques can enhance the chances of success over many projects. “Good practice” does not mean that the knowledge described should always be applied uniformly to all projects.
Who is responsible for determining what is appropriate for any given project?
The organization and/or project management team is.
What is the PMI Lexicon of Project Management Terms?
Provides the foundational professional vocabulary that can be consistently used by project, program, and portfolio managers and other stakeholders.
What is the Project Management Code of Ethics and Professional Conduct?
Guides practitioners of the profession and describes the expectations that practitioners should hold for themselves and others. The Project Management Institute Code of Ethics and Professional Conduct is (specific) about the basic obligation of responsibility, respect, fairness, and honesty. It requires that practitioners demonstrate a commitment of ethical and professional conduct. It carries the obligation to comply with laws, regulations, and organizational and professional policies. Practitioners come from diverse backgrounds and cultures and the Project Management Institute Code of Ethics and Professional Conduct applies globally.
When interacting with any stakeholder what should practitioner(s) do?
Should be committed to honest, responsible, fair practices and respectful dealings.
What is a project?
A project is a temporary endeavor undertaken to create a unique product, service, or result.
The temporary nature of a project indicates what?
That a project has a definite beginning and end.
The end of a project is reached when?
When the project’s objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists. A project may also be terminated if the client (customer, sponsor, or champion) wishes to terminate the project.
The word (temporary) does not what in project management?
Does not necessarily mean the (duration) of the project is short. It refers to the project’s (engagement and longevity). Temporary does not typically apply to the (product, service, or result) created by the project; most projects are undertaken to create a (lasting outcome). For example, a project to build a national monument will (create) a result expected to last for centuries. Projects can also have (social, economic, and environmental) impacts that far outlive the projects themselves.
Every project creates what?
A unique product, service, or result.
The (outcome) of the project may be what?
Tangible or intangible.
What may be present in some project deliverables and activities?
Although (repetitive elements) may be present in some project deliverables and activities, this (repetition) DOES NOT change the fundamental, unique characteristics of project work. For example, office buildings can be constructed with the same or similar materials and by the same or different teams. However, each building project remains unique with a different location, different design, different circumstances and situations, different stakeholders, and so on.
An ongoing work effort is?
Generally, a repetitive process that follows an organization’s existing procedures. In contrast, because of the (unique) nature of projects, there may be (uncertainties) or (differences) in the (products, services, or results) that the project (creates).
What may necessitate more dedicated (planning) than other routine work?
(Project activities) can be new to members of a project team, which may necessitate more dedicated (planning) than other routine work. In addition, projects are undertaken at all organizational levels. A (project) can involve a (single individual) or (multiple individuals), a (single organizational unit) or (multiple organizational units) from (multiple organizations.
A project can create?
-A product that can be either a component of another item, an (enhancement) of an item, or an end item in itself
-A (service) or (capability to perform a service) e.g., a business function that supports production or distribution
-An (improvement) in the existing (product or service) lines (e.g., A Six Sigma project undertaken to reduce defects) or
-A (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 the society).
Examples of (projects) include, but are not limited to:
-Developing a (new product, service, or result)
-Effecting change in the structure, processes, staffing, or style of an organization
-Developing or acquiring a new or modified information system (hardware or software)
-Conducting a building, industrial plant, or infrastructure or
-Implementing, improving, or enhancing existing business processes and procedures
The relationship among portfolios, programs, and projects is such that a (PORTFOLIO)
Refers to a collection of (projects), (programs), (subportfolios), and (operations) managed as a (group) to achieve (stategic objectives).
The relationship among portfolios, programs, and projects is such that (PROGRAMS)
Programs are (grouped) within a (portfolio) and are comprised of (subprograms), (projects), or (other work) that are managed in a coordinated fashion in support of the (portfolio). (Individual projects) that are either (within) or (outside) of a (program) are still considered part of a (portfolio). Although the (projects) or (programs) within the (portfolio) may NOT necessarily be (interdependent or directly related), they are LINKED to the organizations (strategic plan) by means of the organizations (PORTFOLIO).
Organizational (strategies) and (priorities) are LINKED and have (relationships) between?
Portfolios, and programs, and between programs and individual projects.
