PMP 101 Flashcards
A ____________ is a temporary and one-time endeavor undertaken to create a unique product or service that brings about beneficial change or added value.
Project
It carefully defined as a set of activities that use
resources to meet the pre-defined objectives and brings form or function to ideas or needs.
Project
Project Characteristics:
This is usually specified in terms of cost, schedule and performance requirements.
Temporary
Project Characteristics:
It requires the doing of something different, something that was not done previously.
Unique
Project Characteristics:
It is often called “Routine”
Unique
Project Characteristics:
A project differs from what was previously done,
it also involves new techniques.
Involves new processes
Project Characteristics:
* Undertaken to achieve a particular aim ________________
Deliverables
Val___-add___dri____of________and impr____ During the process, projects pass through several distinct phases, which form and are called project ____________.
*Value-adding driver of change and improvement
*Projects life cycle
Is the application of knowledge, skills,
tools and techniques to a broad range of activities in order to meet the requirements of the particular project
Project Management
These three (3) project management variables as often referred to as the _____________ of project management
Eternal Triangle
3 Project variables
Time, Cost, Scope Constraint
1.) Project Success
Project completed in time
2.) Project Success
Projects completed within a budget
3.) Project Success
Projects completed by achieving all deliverables
Project ________ or (_____________):
have major obstacles to completion. These hurdles might include financial overruns, missed deadlines, technological issues, and unexpected dangers.
Distressed Projects
4 Phases Project management Life Cycle
Beginning or Initiation, Planning, Execution, Closing
Project Management Life Cycles:
Identify a company need, challenge, or opportunity and discuss how your team might meet, solve, or exploit it. In this stage, you set a project goal, assess its feasibility, and establish its main deliverables.
Beginning or Initiation
Project Management Life Cycles:
___________ begins once your business case, statement of work, or project commencement document is authorized.
Planning
Project planning steps may include:
Determine the project timetable, including stages, tasks, and limits.
Planning the project
Project planning steps may include:
Swim lanes can help team members understand
their roles in a project.
Making workflow and Diagram
Project planning steps may include:
Cost estimates help you budget for the project to maximize ROI.
Budgeting and financial planning
Project planning steps may include:
Build your functional team from internal and external talent pools and make sure everyone has the right tools (software, hardware, etc.).
Gathering Resources
Project planning steps may include:
Identify issues that might slow your project and plan to mitigate them to preserve quality and deadline.
Anticipating Risk and quality roadblocks
Project Management Life Cycles:
You have business permission, a strategy, and a team. Now start working. ____________ puts your strategy into motion.
Execution
In this phase of the project management life cycle, the project manager organizes team members, manages timetables, and ensures work is done according to plan.
Execution Phase
Project execution steps may include:
Assign project details to the right people to avoid overwork.
Task creation and workflow management
Project execution steps may include:
Provide team members with task advice and organize process-related training as needed.
Reporting responsibilities to teammates
Project execution steps may include:
Ensure team members achieve time and quality targets.
Monitoring work quality
Project execution steps may include:
Track expenditures and project assets and resources. There are various visual tools you may use to track completed deliverables
and stay on schedule, depending on your project management technique
Budget Management
In the _______________, you provide final deliverables, release resources, and evaluate
project success. The project manager must evaluate what worked and didn’t work when the primary project work is done.
Closing Phase
Project closing steps may include:
Using a checklist, assess if the project’s goals
(tasks performed, on schedule, and on budget) and initial challenge were solved.
Project performance analysis
Project closing steps may include:
Including target achievement, timeliness, and
quality.
Evaluate team performance
Project closing steps may include:
Check that all project tasks are done and report to relevant stakeholders.
Document project performance
Project closing steps may include:
Finalize project analysis, including lessons
learnt for future projects.
Reviewing after implementation
Project closing steps may include:
Use leftover funds for future initiatives.
Track spent and unused funds
Document, defining, and scoping the project
Compilation of Terms of Reference (TOR)
Conducting an Environmental Scan: (4)
Micro, Macro, Stakeholder Analysis, and Market
SWOT Analysis:
Strengths, Weakness, Resources, Capabilities, Capacity, Opportunities, Threats
S.W.O.T
Strengths, Weakness, Opportunities, Threats
Criteria:
Viability, Feasibility, Sustainability
This element refers to the __________________ or
________________ as stated by Elkington (1997) and acknowledged by Adams (2006) as the ‘three pillars’ of sustainability
triple bottom line. three-P concept,
This element refers to the triple bottom line or
three-P concept as stated by ______________ and acknowledged by _____________ as the_______________ of sustainability
Elkington (1997), Adams (2006), ‘three pillars’
