PMP 1 : Project Management Frameworks Part2 Flashcards
What is a Project Manager?
Person assigned by performing organization to lead team responsible for achieving project objectives. Ensures project completion on time, on budget, meeting all objectives.
What are the three components of the PMI Talent Triangle?
- Technical Project Management 2. Leadership 3. Strategic & Business Management
What are the main responsibilities of a Project Manager?
- Develop project charter 2. Create project management plan 3. Direct/manage project work 4. Monitor/control progress 5. Manage changes 6. Close project/phase
What is Technical Project Management in the PMI Talent Triangle?
Knowledge, skills, and behaviors related to specific domains of project management and technical aspects of performing one’s role
What is Leadership in the PMI Talent Triangle?
Knowledge, skills, and behaviors needed to guide, motivate, and direct a team to help achieve business goals
What is Strategic & Business Management in the PMI Talent Triangle?
Knowledge of and expertise in the industry/organization that enhances performance and delivers business outcomes
What is a Portfolio Manager?
Executive who manages governance of multiple projects/programs, evaluates project value/ROI, ensures strategic alignment, and optimizes resource allocation
What is a Program Manager?
Manager responsible for coordinating a group of related projects, ensuring program benefits realization, and maintaining strategic alignment
What is the difference between Portfolio and Program Manager?
Portfolio Managers handle unrelated projects based on organizational value, while Program Managers coordinate related projects for combined benefits
Define Project Stakeholders
Individuals, groups, or organizations that may affect, be affected by, or perceive themselves to be affected by project decisions/outcomes
Who are the key project stakeholders?
- Sponsors 2. Business process owners 3. Subject matter experts (SMEs) 4. Deliverable owners 5. External stakeholders
What is the Project Team’s role?
Core group performing project work - creates WBS, estimates activities/resources, executes project plan, identifies requirements/risks, implements changes
What is Project Governance?
Framework/functions/processes guiding project management activities to meet organizational goals - handles approvals, resource allocation, and strategic alignment
What is a Project Sponsor’s main responsibility?
Provides financial resources, project support, and protects project from politics and unnecessary changes
What is a Project Management Team?
Subset of project team that helps perform project management activities - must have project management training
In a weak matrix organization, what is the PM’s role called?
Project Expediter - acts as staff assistant and communications coordinator without decision-making authority
What is a Project Coordinator?
Similar to expediter but has some authority to make decisions and reports to higher level manager
What makes stakeholders crucial to project success?
They provide input on requirements, help identify risks, approve changes, and their buy-in is essential for project success
How does Agile affect the Business Process Owner role?
Works with agile team to prioritize features, attends reviews, accepts deliverables, identifies issues, provides expert judgment
What is the primary purpose of Project Governance?
Ensure organization’s resources work on right projects at right time and align with strategic objectives
