PMBOK Guide 7th Edition Flashcards
Outcome
An end result or consequence of a process or project.
Outcomes can include outputs and artifacts, but have broader intent by focusing on the benefit and value that the project was undertaken to deliver.
Portfolio
Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.
(Intro)
Product
An artifact that is produced, is quantifiable, and can be either an end item in itself or a component item.
(Intro)
Program
Related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually.
(Intro)
Project
A temporary endeavor undertaken to create a unique product, service, or results. The temporary nature of projects indicates a beginning and an end to the project work or a phase of the project work.
Projects can also stand alone or be part of a program or portfolio.
(Intro)
Project Manager
The person assigned by the performing organization to lead the project team that is responsible for achieving the project objectives.
Project managers perform a variety of functions, such as facilitating the project team work to achieve the outcomes and managing the processes to deliver intended outcomes.
(Intro)
Project Team
A set of individuals performing the work of the project to achieve its objectives.
(Intro)
System for Value Delivery
A collection of strategic business activities aimed at building, sustaining, and/or advancing an organization.
Portfolios, programs, projects, products, and operations can all be part of an organization’s system for value delivery.
(Intro)
Value
The worth, importance, or usefulness of something.
Different stakeholders perceive value in different ways. Customers can define value as the ability to use specific features or functions of a product. Organizations can focus on business value as determined with financial metrics, such as the benefits less the cost of achieving those benefits.
(Intro)
Examples of ways that projects produce value include:
- Creating a new product, service, or result that meets the need of customers or end users
- Creating positive social or environmental contributions
- Improving efficiency, productivity, effectiveness, or responsiveness
- Enabling the change needed to facilitate organizational transition to its desired future state
- Sustaining benefits enabled by previous programs, projects, or business operations
(A System for Value Delivery)
True or False: A system for value delivery is part of an organization’s internal environment that is subject to policies, procedures, methodologies, frameworks, and governance structures.
True: That internal environment exists within the larger external environment which includes the economy, the competitive environment, and legislative constraints.
(A System for Value Delivery)
Process Assets
Process assets may include tools, methodologies, approaches, templates, frameworks, patterns, or PMO resources.
(A System for Value Delivery)
Governance Documentation
This documentation includes policies and processes.
A System for Value Delivery
Data Assets
Data assets may include databases, document libraries, metrics, data, and artifacts from previous projects.
(A System for Value Delivery)
Knowledge Assets
Knowledge assets may include tacit (or implied) knowledge among project team members, subject matter experts, and other employees.
(A System for Value Delivery)
Security and Safety
Security and safety measures may include procedures and practices for facility access, data protection, levels of confidentiality, and proprietary secrets.
(A System for Value Delivery)
Organizational Culture, Structure, and Governance
These aspects of an organization include the vision, mission, values, beliefs, cultural norms, leadership style, hierarchy and authority relationships, organizational style, ethics, and code of conduct.
(A System for Value Delivery)
Infrastructure
Infrastructure consists of existing facilities, equipment, organizational and telecommunications channels, information technology hardware, availability, and capacity.
(A System for Value Delivery)
(A System for Value Delivery)
Information Technology Software
Examples include scheduling software, configuration management systems, web interfaces to online automated systems, collaboration tools, and work authorization systems.
(A System for Value Delivery)
Resource Availability
Examples include contracting and purchasing constraints, approved provider and subcontractors, and collaboration agreements.
Availability related to both people and materials includes contracting and purchasing constraints, approved providers and subcontractors, and time lines.
(A System for Value Delivery)
Employee Capability
Examples include general and specialized expertise, skills, competencies, techniques, and knowledge.
(A System for Value Delivery)
Examples of Internal Environmental Factors
- Process assets
- Governance documentation
- Data assets
- Knowledge assets
- Security and safety
- Organizational culture, structure, and governance
- Geographic distribution of facilities and resources
- Infrastructure
- Information technology software
- Resource availability
- Employee capability
(A System for Value Delivery)
Examples of External Environmental Factors:
- Marketplace conditions
- Social and cultural influences and issues
- Regulatory environment
- Commercial databases
- Academic research
- Industry standards
- Financial considerations
- Physical environment
(A System for Value Delivery)
Marketplace Conditions
Marketplace conditions include competitors, market share, brand recognition, technology trends, and trademarks.
(A System for Value Delivery)
Social and Cultural Influences and Issues
These factors include political climate, regional customs and traditions, public holidays and events, codes of conduct, ethics, and perceptions.
(A System for Value Delivery)
Regulatory Environment
The regulatory environment may include national and regional laws and regulations related to security, data protection, business conduct, employment, licensing, and procurement.
(A System for Value Delivery)
Commercial Databases
Databases include standardized cost estimating data and industry risk study information.
(A System for Value Delivery)
Academic Research
This research can include industry studies, publications, and benchmarking results.
(A System for Value Delivery)
Financial Considerations
These considerations include currency exchange rates, interest rates, inflation, taxes, and tariffs.
(A System for Value Delivery)
Physical Environment
The physical environment pertains to working conditions and weather.
(A System for Value Delivery)
