Introduction to Project Management (3)

Question 1

What’s the purpose of the PMBOK Guide?

Answer 1

Provide and promote a common lexicon (standard) for discussing, writing, and applying Project Management practices.

Question 2

What are the 5 process groups?

Answer 2

Initiating, Planning, Executing, Monitoring & Controlling, Closing

Question 3

What’s the purpose of the Initiating process group?

Answer 3

Make sure you have captured all the stakeholders needs, wants, and expectations correctly - requirements gathering for the project

Question 4

What’s the purpose of the Planning process group?

Answer 4

Establish project objectives that your team can achieve and come up with a detailed plan to achieve these objectives

Question 5

What’s the purpose of the Executing process group?

Answer 5

Execute the project as per plan and allow for flexibility to accept project related changes

Question 6

What’s the purpose of the Monitor & Control process group?

Answer 6

Maintain and balance scope

Question 7

What’s the purpose of the Closing process group?

Answer 7

Meet the customer expectations. Satisfy your customer/client’s needs

Question 8

What is a project?

Answer 8

A temporary endeavor that creates a unique product/service/result, or deliverable, even though recurring elements exist

Question 9

What are the characteristics at the BEGINNING of a project?

Answer 9

• Cost and staffing levels are low
• Risk will be. High
• The level of uncertainty is The highest
• Probability of completing successfully is very low
• Stakeholders influence is High

Question 10

What is an Operation?

Answer 10

An ongoing work effort meant to sustain the business; a repetitive process

Question 11

Similarities: Project vs. Operation

Answer 11

• Planned, executed and controlled
• Resource constrained
• Performed by people

Question 12

Differences: Project vs. Operation

Answer 12

• Project: deliverable is unique; temporary endeavor; conversion of business strategy to successful operations
• Operations: Repetitive; Ongoing work effort; sustain the business operations

Question 13

Generally, strategic planning deals with at least one of three key questions:

Answer 13

1) “What do we do?”
2) “For whom do we do it?”
3) “How do we excel?”

Question 14

What’s the relationship of Strategic Planning to Projects?

Answer 14

Activities that cannot be addressed within the organization’s normal operational limits are called projects.

Therefore, projects are often utilized as a means of achieving an organization’s strategic plan

Question 15

Define project management?

Answer 15

To apply knowledge, skills, tools, and techniques to project activities to meet the project objectives

Question 16

How is project management accomplished?

Answer 16

Through the application and integration of the 5 Project Management process groups

Question 17

Who is the project manager?

Answer 17

The person responsible for accomplishing the project objectives

Question 18

What are the three project management levels?

Answer 18

1) Portfolio; Executives/Directors 2) Program; Program Managers 3) Project; Project Managers

Question 19

What is program management?

Answer 19

A group of related projects managed in a coordinated way to obtain benefits unavailable by managing them individually

Question 20

What is portfolio management?

Answer 20

A collection of projects AND/OR programs and other work that are grouped together to facilitate effective management of that work to meet strategic objectives of the organization is called Portfolio Management

Question 21

Define Organizational Project Management?

Answer 21

The execution of an organization’s strategies through projects by combining the systems of project management, program management and portfolio management

Question 22

What is a process?

Answer 22

A series of actions bringing about a result

Question 23

What are the characteristics of a process?

Answer 23

1. Measurement Criteria
2. Deliverables

Question 24

What is a Project Management Process?

Answer 24

• Describe, organize and complete the work of a project
• The purpose is to initiate, plan, execute, monitor and control and close a project
• It is common to all projects

Question 25

What is a Product Oriented Process?

Answer 25

• Specify and create the projects product
• Defined by the products life cycle
• It varies by application area

Question 26

What are the elements of a process?

Answer 26

Inputs, Tools & Techniques, Outputs

Question 27

Process groups are NOT …

Answer 27

Project Phases

Question 28

Process Groups could be represented within a …

Answer 28

Project phase

Question 29

Initiating process group is also called what?

Answer 29

Concept phase

Question 30

Highlights of the initiating process group

Answer 30

• Project may be approved or terminated
• Determines project objectives
• Develops project charter
• Identifies all the stakeholders
• Assigns Project Manager

Question 31

Highlights of the Planning process group

Answer 31

• Most of the project time is spent here
• It is a process of formulating and revising project goals and objectives
• The project manager with help of the team creates management plan for each of the knowledge areas
• The planning processes develop the overall Project Management Plan

Question 32

Highlights of the Executing process group

Answer 32

• Most Of the project money will be spent here
• All the work packages/plans that were designed and developed during planning will be executed
• Implement approved changes, defect repair, preventative and corrective actions
• Team building

Question 33

Highlights of Monitor & Control process group

Answer 33

• Measure and monitor performance against baselines
• Recommend changes, defect repair, preventative and corrective actions
• Verify scope of project
• Control procurements
• Monitor and Control project work
• Monitor stakeholder engagement

Question 34

Highlights of Closing process group

Answer 34

• Main goal is to formally and orderly end the project activities
• Contract closure as well as archiving any project records, documents, etc.
• Procurement audits and payments are made
• Conduct customer satisfaction survey, and sign-off on project

Question 35

What are the 10 Knowledge Areas?

Answer 35

1) Scope Management
2) Schedule Management
3) Cost Management
4) Quality Management
5) Communications Management
6) Resource Management
7) Risk Management
8) Procurement Management
9) Integration Management
10) Stakeholder Management

Question 36

Define Project Scope Management:

Answer 36

The work and effort required to complete the goals and objectives of the project

Question 37

Define Project Schedule Management:

Answer 37

The amount of time to complete all the activities related to the project. Also concerning project schedule

Question 38

Define Project Cost Management:

Answer 38

The finances, expenditures, and cost associated with completion of project objectives within budget

Question 39

Define Project Quality Management

Answer 39

THe standards relevant to the project to reach customer satisfaction and the quality deliverables

Question 40

Define Project Communications Management:

Answer 40

Generating, collecting, storing, retrieving and distributing project related information to customers

Question 41

Define Project Risk Management

Answer 41

Minimizing the adverse effects of consequences or actions that may inhibit project success

Question 42

Define Project Procurement Management:

Answer 42

Securing goods and services from outside the performing organization to meet project objectives

Question 43

Define Project Integration Management:

Answer 43

The coordination and unification of all the knowledge area processes and project activities

Question 44

What are the project phases relationship with process groups & knowledge areas?

Answer 44

Each phase contains the entirety of all process groups and knowledge areas