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Project Management > Lecture 1 - Introduction > Flashcards

Lecture 1 - Introduction Flashcards

1
Q

What is the definition of project management?

A

’ The application of knowledge, skills, tools and techniques to project activities in order to meet stakeholders needs and expectations from a project’

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2
Q

What is a Stakeholder?

A

Any person with an interest or concern in something especially a buisness

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3
Q

A stakeholder could be (4):

A
  • Your manager
  • Your customer
  • The public
  • anyone with an expectation from the outcome of a project
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4
Q

What 10 factors are being managed?

A

-Integration -quality - cost - HRM (human resources management) -Risk -Time -Scope - Procurement -Communication - Prioritisation of Outcomes

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5
Q

Delivering a buisness through the use of projects requires a management profile that encourages (4)

A
  • organisation flexibility
  • decentralised management responsibility
  • holistic view of problems
  • Goal-orientated problem solution processses
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6
Q

What is Decentralised management responsibility?

A

Decision making authority does not lie with one individual group - each project has a specialised manager

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7
Q

What is a holistic view of problems?

A

everything is interconnected and can only be fully understood as a whole

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8
Q

What is the definition of a project?

A

‘A temporary endeavor undertaken to create a unique product or service’

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9
Q

A project typically includes (7)

A
  • Start and finish
  • life-cycle
  • budget
  • use of resources
  • a single point of responsibility
  • fast tracking
  • team roles
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10
Q

what are the four main benefits of project management?

A

-Interpersonal
(relationship with client, single point of responsibility, reporting interfaces)
-Clear progress monitoring
( estimating, projections/alterations, critical path monitoring(fast-track), schedule gannt chart (project integration), define trends)
-Planning
(response time, resource allocation, slippage determination)
-Reporting
(definition of procedures, data capture, closeout report)

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11
Q

What are the four main roles of Project manager PM?

A
  • planning
  • reporting
  • interpersonal skills
  • clear progress monitoring and reporting
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12
Q

main factors PM should consider in planning?

A

-organisation
integration of actions and understanding critical influencers
-decisive to push key steps and ensure delivery
-flexibility and ability to cope with constant changes

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13
Q

main factors PM should consider in Reporting?

A
  • Clear,concise and meticulous communicator
  • Understanding legal connotations
  • Expectation management
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14
Q

main Interpersonal skills that a PM should display?

A
  • Leadership
  • Anticipation
  • Negotiation and persuasion
  • Keep client happy!
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15
Q

main factors PM should consider when process monitoring and reporting?

A
  • analytically thinking for monitoring

- Management for control

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16
Q

History of Project Management (3)

A
  • Henry Gantt - visual aid for planning and control (Gantt chart)
  • Henry Fayol - 14 principles of management 1916 are regarded as fundamentally universal
  • US defence-aerospace industry - lead adoption of key PM techniques: PERT, CPM, EV, WBS, project-life cycle
17
Q

What is CPM?

A

Critical path method - developed around 1957 it is an algorithm for scheduling a set of project activities

  • (type of network diagram)
  • CPM activity on arrow -1960
  • CPM Activity on node - prefered
18
Q

There are various network diagrams, what is the point of them?

A

-they provide a method of planning and control for complex projects which are problematic with several tasks taking place simultaneously

19
Q

What is PERT?

A

Program Evaluation and Review Technique - 1956

-(type of network diagram)

20
Q

The project life-cycle focuses on the wider picture and defines all interrelated activities, a project passes through 4 stages what are these?

A
  • Concept and initiation
  • Design and development
  • implementation and construction
  • commissioning and handover
21
Q

The body of knowledge approach to project life-cycle can be further subdivided into a body of knowledge including (7) factors:

A
  • input
  • process
  • key activities
  • hold points
  • milestones
  • output
  • approval
22
Q

Product life-cycle is more of a creation to disposal approach to reviewing the project overview, the product life-cycle can be split into 4:

A
  • Introduction
  • Growth
  • Maturity
  • Decline
23
Q

Level of Effort (project life-cycle) is expressed in terms of (2):

A
  • Man hours

- Cost

24
Q

Level of influence (project life-cycle), influence vs cost includes (2)

A
  • The ability of stakeholders to influence design

- The potential to add value to the project

25
Q

Scope management can often be related to the project success, what does it do?

A

it ensures a project includes all and the minimum level of work required to complete a project successfully

26
Q

What is Project Scope?

A

-The work that needs to be done to deliver a product or service with the specified result/ functions or features

27
Q

What does the project scope outline (4)?

A
  • What the project will accomplish
  • What it will deliver
  • What it will produce
  • Where the work packages start and finish
28
Q

What is the risk if scope management fails?

A

The clients needs may be misinterpreted which will likely result in the need to rework (additional cost and time)

Project Management (9 decks)

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