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Project Management > PMBOK > Flashcards

PMBOK Flashcards

1
Q

Project Definition

A

A temporary endeavor undertaken to create a unique product, service, or result.

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2
Q

Project Scope

A

Defined Objectives. Scope is progressively elaborated throughout the project life cycle.

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3
Q

Project Change

A

Project managers expect change and implement processes to keep change under control.

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4
Q

Project planning

A

Progressively elaborate high level information into detailed plans throughout the projects life cycle.

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5
Q

Project Management

A

Project managers manage the team to meet project objectives

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6
Q

Project monitoring

A

Monitor and control the work of producing products, services, or results that the project was undertaken to produce.

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7
Q

Project success

A

Success is measured by product and project quality, timeliness, budget compliance, and degree of customer satisfaction.

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8
Q

Program and portfolio management

A

Programs encompass many projects, portfolios encompass all.

Portfolio is strategic.

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9
Q

Operations management

A

Normally outside the scope of project management. Concerned with ongoing operations and efficiency.

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10
Q

Where does project management and operations management meet?

A

Developing a new product, improving operations, end of product life cycle, each close out phase.

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11
Q

Organizational project management (OPM)

A

Framework in which portfolio, program, and project management are integrated with organizational enablers to achieve strategic objectives.

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12
Q

Purpose of Organizational project management (OPM)

A

Make sure the organization undertakes the right projects and allocate critical resources appropriately.

Also makes sure everyone understands the strategic vision, initiatives, objectives, and deliverables.

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13
Q

Organizational Environmemt

A

Strategy> portfolio (value decisions) >programs and projects (results delivery)> operations (business value realization)>strategy

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14
Q

Project life cycle

A

Series of phases the project passes through before completion.

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15
Q

Project Phase

A

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

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16
Q

Phase gate

A

A review at the end of a phase in which a decision is made to continue to the next phase, continue modification, or to end a project.

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17
Q

Project management processes

A

A systematic series of activities directed toward causing an end result where one or more inputs will be acted upon to to create one or more outputs.

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18
Q

Project management process group

A

Logical grouping of project management tools, techniques, and outputs.

Includes;
Initiating
Planning
Executing
Monitoring
Controlling
Closing
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19
Q

Project management knowledge area

A

An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.

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20
Q

Phase organization possibilities

A

Sequential, Iterative, Overlapping

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21
Q

Project Life Cycle Types

A

Predictive or Adaptive

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22
Q

Development life cycle

A

Within a project life cycle, one or more phases associated with the development of a product, service, or result.

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23
Q

Development life cycle types

A

Predictive, iterative, incremental, adaptive, hybrid

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24
Q

Predictive life cycle

A

Project scope, time and cost are developed in the early phases of the life cycle. Scope changes are carefully managed. Also referred to as waterfall life cycles.

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25
Q

Iterative life cycle

A

Project scope is determined early but time and cost estimates are routinely modified as understanding of the project increases.

Iterations develop the product through repeated cycles.

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26
Q

Incremental life cycle

A

Deliverable is produced through iterations that add functionality over time. Only complete after the final iteration

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27
Q

Adaptive life cycle

A

Agile, iterative, incremental. Scope is defined before the start of an iteration. Change driven.

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28
Q

Hybrid life cycle

A

Combination of predictive or adaptive. Elements that can be fixed are, elements that are not are not.

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29
Q

Product life cycle

A

Independent of the project. Phases involved in the evolution of a product all the way to retirement.

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30
Q

Project phase attributes

A 
Name
Number
Duration
Resource elements
Entrance criteria
Exit criteria
31
Q

Phase gate decisions

A 
Continue
Continue with modification
End project
Remain in phase
Repeat phase or elements
32
Q

Process categories

A

Performed once, periodically, and continuously.

33
Q

Five project management process groups

A 
Initiating
Planning
Executing
Monitoring
Closing
34
Q

Initiating process group

A

Processes to performed to define a new project or new phase of an existing project by obtaining authorization to start the project or phase.

35
Q

Planning process Group

A

Processes required to establish the scope of the s project, refine objectives, define course of action required to obtain objectives that the project was undertaken to achieve

36
Q

Executing process group

A

Processes performed to complete the work defined in the plan to satisfy project requirements.

37
Q

Monitoring and controlling process group

A

Processes required to track, review, and regulate progress and performance of the project; identify need for changes; initiate changes.

38
Q

Closing process group

A

Processes to formally complete or close, a phase, project, or contract.

39
Q

Ten project management knowledge areas

A 
Project integration management
Project scope management
Project schedule management
Project cost management
Project quality management
Project resource management
Project communications management
Project risk management
Project procurement management 
Project stakeholder management
40
Q

Project integration management

A

Processes and activities to identify, define, combine, unify and coordinate the various processes within project management process groups.

41
Q

Project scope management

A

Process required to ensure the project includes all the work required and only the work required to complete successfully.

42
Q

Project schedule management

A

Processes required to manage timely completion of the project

43
Q

Project cost management

A

Process involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within budget.

44
Q

Project resource management

A

Process to identify, acquire, and manage resources needed for successful completion of the project.

45
Q

Project communications management

A

Processes required to ensure the timely and appropriate planning, collection,creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information.

46
Q

Project risk management

A

Processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project.

47
Q

Project procurement management

A

Processes necessary to acquire or purchase products, services, or results needed from outside the project team.

48
Q

Project stakeholder management

A

Process required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and developing strategies for effectively engaging stakeholders in project decisions and execution.

49
Q

Project data types

A

Work performance data
Work performance information
Work performance reports

50
Q

Work performance data

A

The raw observations and measurements identified during activities performed to cart out the project work.
Percent of work, start and finish dates, number of change requests, actual costs.

Usually recorded in a project management information system (pmis)

51
Q

Work performance information

A

Performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas.

Status of deliverables, forecasts etc

52
Q

Work performance reports

A

Physical or electronic representation of work performance information compiled in project documents. Intended to generate decisions.

Memos etc.

53
Q

Methodology

A

System of practices, techniques, procedures, and rules used by those who work in a discipline

54
Q

Tailoring

A

Is necessary because each project is unique.

Address the competing constraints of scope, schedule, cost ,resources , quality, and risk

55
Q

Project business case

A

Documented economic feasibility study to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for further project management activities

56
Q

Project benefits management plan

A

The documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a product.

57
Q

Project sponsor

A

Accountable for the development and maintenance of the project business case.

58
Q

Needs assesment

A

Precedes the business case.

Involves goals objectives, issues, and opportunity and recommending proposals to address them.

59
Q

Target benefits

A

The expected tangible and intangible value to be gained by the implementation of the project.

60
Q

Strategic alignment

A

How well the project benefits align to the business strategies of the organization

61
Q

Benefits owner

A

Accountable person to monitor, record, and report realized benefits throughout the timeframe established in the plan

62
Q

Project charter

A

Document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.

63
Q

Project management plan

A

Document that describes how the project will be executed, monitored, and controlled

64
Q

NPV

A

Net Present Value

65
Q

IRR

A

Internal rate of return

66
Q

PBP

A

Payback period

67
Q

BCR

A

Benefit-Cost Ratio

68
Q

Two categories that influence projects

A

Enterprise environmental factors (eefs)
Organizational process assets
(Opa)

69
Q

Enterprise environmental factors (eefs)

A

External/internal

Originate outside the project

70
Q

Organizational process assets

A

Processes/policies/ procedures
Corporate knowledge base

Internal to the organization

71
Q

Principles of systems

A

Systems are dynamic
Systems can be optimized
System components can be optimized
Systems and their components cannot be optimized at the same time
Systems are nonlinear in responsiveness ( a change in the input doesn’t always produce a predictible change in the output.)

72
Q

Project Governance

A

Framework,functions, and processes that guide project management activities in order to create a unique product service or result to meet organizational, strategic, and operational goals.

73
Q

Management elements

A

Key functions or principles of general management in the organization.

74
Q

Project management office

A

Organizational structure that standardized project-related governance processes and facilitated the sharing of resources methodologies, tools and techniques.

Project Management (2 decks)

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