PM Framework Flashcards
What is the definition of a project?
Temporary
Creates a unique product, service, or result
What is the definition of a program?
A group of interrelated projects, managed in a coordinated way.
What is the definition of a portfolio?
A group of programs and individual projects to achieve a specific strategic busines goal.
What is a product lifecycle?
The cycle of a product’s life from conception to withdrawal.
What is a project life cycle?
What you need to do to COMPLETE the work.
It varies by industry and type of project.
What is the project management process?
What you need to do to MANAGE the work
Initiating
Planning
Executing
Monitoring and Controlling
Closing
What is a project management office?
A department that centralizes the management of projects
Provides the policies, methodologies and templates for managing projects within the organization
OR
Provides support, guideance, and training to others in the organzation on how to manage projects
OR
Provides project managers for different projects, and is responsible for the results of the projects
What are project constraints?
Cost
Time
Scope
Quality
Risk
Resources
Customer Satisfaction
Constraints are used to help evaluate competing demands.
Who are stakeholders?
Anyone whose interests may be positively or negatively impacted by the project, including:
- Project Mgr
- Customer
- Sponsor
- Performing organization
- Team
- Funding Sources
- End user
- Society
- PMO
What are 3 primary forms of organization?
Functional
Projectized
Matrix
What is a functional organization?
The company is grouped by areas of specialization (e.g. accounting, marketing, etc.)
What is a projectized organization?
The company is grouped by project
The team has no department to go to at project end
The project manager has total control of the resources
What is a matrix organization?
A blend of functional and projectized organization where the team members have two bosses (the project manager and the functional manager)
What is a strong matrix organization?
A matrix organization where the balance of power rests with the project manager instead of the functional manager.
What is a weak matrix organization?
A matrix organization where the balance of power rests with the functional manager intead of the project manager
The project manager’s role may include:
- Project expediter
- Project coordinator
