Managing Organizations Flashcards
What is a portfolio
A collection of lower level portfolios, programs, projects grouped for centralized management aimed at strategic objectives
Note projects may not be directly related
What is a program
A group of related projects that have a common outcome or capability which are managed together to achieve better benefits and control
What is a project
A temporary body of work that produces a unique product service or result to meet a strategic objective. It is progressively elaborated
What is a sub project
A smaller portion of a project that enables easier management
What is ongoing work
Repetitive work with no defined end. It is also known as operational work and can have changing objectives
Name types of project stakeholders
Sponsor Operational stakeholders Vendors a.k.a. cellars Business partners Project team Customer
Who is the sponsor
A senior executive for whom the project is done. He provides funding and is the primary risk taker
What are operational stakeholders
Employees in the organization such as HR, sales, customer service, etc.
Who are vendors
External organizations that supply goods or services for the project
Who is the project team
The people to conduct a project. The PM is authorized to manage and the project team does the work
Who is the customer
The individual or group that purchases or uses the product or service output of the project
What are the types of project influencers
Organizational culture
Enterprise environmental factors
Organizational process assets
What is organizational culture
The unique nuances of how business is conducted and how the organization operates. Including shared values, norms, beliefs, policies, etc.
What are enterprise environmental factors
Internal and external factors affecting the project outcomes
What are organizational process assets
Project related data and documents from previous work. Including plans, procedures, guidelines, etc.
What are the types of project constraints
Scope Quality Schedule Budget Resources Risks
What is organizational project management (OPM)
A strategy execution framework using portfolio, program, project to consistently and predictably deliver organizational strategy
What are projects authorized based on
Market demand Strategic opportunity or business need Social need Environmental consideration Customer request Technological advance Legal requirement
What is a project management office PMO
A management structure that standardizes the project related governance processes and facilitate sharing of resources, methodologies, tools, techniques
What is a supportive PMO
It provides a consultative role and serves as a project repository. The degree of control is low
What is the controlling PMO
It provides support and requires compliance through various means. The degree of control is moderate
What is a directive PMO
It takes control of the projects by directly managing them. The degree of control is high
What are the primary functions of a PMO
Managing shared resources across projects
Name the project management competencies
Knowledge (understanding of PM knowledge areas)
Performance (qualifications, experience, tasks, tools, techniques)
Personal skills
