Midterm - BUSN 330 Flashcards
Portfolio
collection of projects, programs, subportfolios and operations managed as a group
Project Management Processes
- Initiating
- Planning
- Executing
- Monitoring and Controlling
- Closing
Program
group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually
Supportive (Project Management Office)
provide a consultative role to projects by supplying templates, best practises and training. The degree of control is low
Controlling (Project Management Office)
provide support and require compliance through various means. Degree of control is moderate
Directive (Project Management Office)
take control of the project by directly managing the projects. The degree of control is high.
Operations Management
area of management concerned with ongoing production of goods and/or services.
Functional Organization
a hierarchy where each employee has a a superior. Staff is grouped by specialty
Matrix Organization
Mix of functional and projectized organization.
Projectized Organization
PM has full control over resources and budget of project
Enterprise Environmental Factors
conditions not under control of the project team that influence constrain or direct the project
Project Life Cycle
a series of phases that a project passes through from its initiation to its closure
Project management Proceses
ensure the effective flow of a project through its life cycle
Product oriented processes
specifies and creates the projects product
product lifecycle (stages)
1) Introduction
2) Growth
3) Maturity
4) Decline