Project Basics Flashcards
Project
A temporary endeavor with a definite beginning and end
Creates a unique product, service or result
Program
Coordinated, orchestrated effort for organizational goals
Common governance
Uniform change control
Performance measurement
Project Management
Application of knowledge, skills, tools and techniques to meet the project goals
47 project management processes
5 process groups
Project management process groups
Initiating Planning Executing Monitoring and Controlling Closing
Project Constraints
Anything that limits your options
Examples: Scope Quality Schedule Budget Resources Risks
Progressive Elaboration
From very broad to very specific:
Developing in steps and then continuing by increments
Idea or concept -> Formulate the idea -> Business case -> Feasibility study -> Project
Portfolio
All about ROI
Collection of projects and programs
Program Management
Working with multiple related projects
Achieve benefits that you wouldn’t be able to achieve if managed separately
Strategic planning considers…
Market demands Opportunities Social need Environmental considerations (including social/political environment) Customer request Technological advancement Legal requirements
Project Management Office
Support project managers
Coordinate shared resources
Coaching, mentoring and training
Project audits
Developing and managing processes and procedures
Facilitating communications across projects
Project Management office types
Supportive: consultative role, provides templates and training
Controlling: compliance through a framework, specific forms and templates, governance
Directive: directly manages the project as the PMO owns and controls the project life cycle
Operations
Repetitive actions
Maintenance
Core business functions
Business Value
Entire value of your business
Tangible: monetary assets, fixtures and equipment, equity
Intangible: reputation, brand recognition, trademarks
Iron Triangle (Triple constraints)
Time
Cost
Scope
Knowledge Areas
Integration management Scope Schedule Costs Quality HR Communications Risk Procurement Stakeholder management
Non-collocated team
Virtual team
What 3 things do project managers need to be successful?
Personality
Performance
Knowledge
Project Portfolio Management
Management, selection , and assignment of projects support an organization’s business objectives
Project performance data
Raw observation and measurement
Examples:
Percent work completed
Start/end dates of activities
Number of change requests, defects, actual costs
Project performance information
Data that has been analyzed
Examples:
Status of deliverables
Implementation status for change requests
Forecasts for estimate to complete
Work performance reports
Reports that communicate work performance information
