Project + Flashcards
What is a project?
It is a temporary endeavor to create a unique product or service
Name the 5 process groups in the Project Management Life Cycle
Initiating, Planning, Executing, Monitoring/Controlling & Closing
What is Project Management?
It is the ability to administer a series of chronological tasks resulting in a desired goal.
What are Stakeholders?
They are individuals, groups, or communities that have a vested interest in the outcome of the project.
What is a Project Sponsor?
Is a person in the organization that has the authority to grant the project manager power over the project resources, assign a project budget. This person also signs the project charter to officially launch the project
What does the Portfolio Review Board do?
It is a group of stakeholders that are responsible for determining which projects are worthy of the company’s money.
What does a Functional Management consist of?
Consist of Managers of the administrative functions of a company, like finance, HR and accounting.
What are Project Managers responsible for?
Developing the project plans, keeping the project on track, monitoring/controlling the project and communication the project status and performance
What are Regulations?
They are “must haves” that are required by law
The project calendar defines what?
The hours in which the project work can take place.
The resource calendar defines what?
Is specific to the project team members.
How many hours of productivity is typical for an 8 hour day?
6
What does SMART stand for?
Specific, Measurable, Achievable, Relevant & Time-Bound
What is the Delphi Technique?
It is a consensus-gathering activity where the participants and their comments are anonymous
What are the two types of observation types?
Passive (invisible) & Active (visible)
