PM terms 2

Question 1

What makes a project temporary?

Answer 1

Start and end date

Question 2

What makes a project unique?

Answer 2

Unique to the customer, something they haven’t done before

Question 3

What is progressive elaboration in the context of a project?

Answer 3

Discovering progressively greater levels of detail as the project moves towards completion (rolling wave planning) - e.g., estimates, schedules

Question 4

What are the three characteristics of a project (vs operations)?

Answer 4

Unique, temporary, Progressive elaboration

Question 5

What is the definition of PM?

Answer 5

Application of knowledge, skills, tools, and techniques TO MEET PROJECT REQUIREMENTS

Question 6

What are the three approaches to manage a project?

Answer 6

Predictive (traditional waterfall), agile (adaptive - change-driven), hybrid

Question 7

What is the role of the PM as it relates to business value?

Answer 7

Ensure that the project and deliverables are adding value to the business (tangible or intangible).

Question 8

What defines operations management vs a project?

Answer 8

Deals with the ongoing production of goods or services.

Question 9

What is the definition of a program?

Answer 9

Group of related projects managed in a coordinated way to obtain benefits and control not available from managing them independently.

Focuses on the interdependencies and helps determine optimal approach to manage them.

Question 10

What is the relationship between a project and a program?

Answer 10

Project may or may not be part of a program, program will always have projects.

Question 11

What is the definition of a portfolio?

Answer 11

Collection of projects, programs, subsidiary portfolios and operations managed as a group to achieve strategic objectives

Question 12

What is the definition of a phase?

Answer 12

Collection of logically related project activities that culminates in the completion of one or more deliverables

Question 13

What is the definition of a deliverable?

Answer 13

Unique and verifiable product, service, or result. Tangible or intangible, must be accepted by the sponsor.

Question 14

What are the components of a process?

Answer 14

Inputs, tools and techniques, and outputs (ITTO)

Question 15

Are processes linear?

Answer 15

Not necessarily - it’s the combo of the input, the things you do to then get to the output, and the output.

Question 16

What are the five process groups that PMs may be doing?

Answer 16

Initiating. Planning. Executing. Monitoring and Controlling. Closing

Question 17

What is the definition of a project life cycle?

Answer 17

Phases the project goes through from start to finish (predictive or adaptive or hybrid)

Question 18

What defines a predictive life cycle?

Answer 18

Scope, cost, time are known early

Question 19

What defines an adaptive (or iterative or incremental) life cycle?

Answer 19

Scope is known early but changes are welcome and incorporated - iterations of the project.

Question 20

Define project governance?

Answer 20

Framework, functions, and processes that a company follows to complete a project (framework created by the business to accomplish the goals of a project)

Question 21

What are the three types of PMO

Answer 21

Supportive, controlling, directive

Question 22

Why is determining the organizational structure important for a PM?

Answer 22

Determines level of power and authority for PM and project needa

Question 23

What is a functional org and how does it affect the PM?

Answer 23

Staff are grouped by expertise (e.g. construction) and report to functional manager. Limited PM control over resources.

Question 24

What is an organic or simple organic and what is the PM role?

Answer 24

Role of PM doesn’t really exist - owner or operator owns budgets. Someone steps up to lead, shared resources.

Question 25

What is a project-oriented organization structure and what is the PM role?

Answer 25

Project team is assigned full time. PM has control. When project is over, team moves on to other assignments - like a consulting project.

Question 26

What are the three types of matrix orga and what differentiates them?

Answer 26

Weak = PM has some power but most is with functional manager.

Balanced = PM and Functional manager are even and have to work together to share resources. Resources leave ops to work on the project and then return.

Strong = PM is strongest (project - oriented company) but functional manager has some say.

Question 27

What are the seven dimensions of quality?

Answer 27

Performance. Conformity. Reliability. Resilience. Satisfaction. Efficiency. Sustainability.

Question 28

What are some characteristics of an effective risk response?

Answer 28

Appropriate for the significance of the risk
Cost effective
Realistic for project
Agreed to by stakeholders
Owned by responsible person

Question 29

What are the 12 principles of PM?

Answer 29

Stewardship - Be diligent steward
Team - create collaborative team env
Stakeholders - engage
Value - focus on
Systems Thinking - recognize and respond to whole system
Leadership - demonstrate leadership behavior
Tailoring - tailor based on content
Quality - build into processes and deliverables
Complexity - navigate
Risk - optimize risk responses
Adaptability and Resiliency - embrace
Change - enable