Project management Flashcards
What is business process management (BPM)?
A management approach that seeks to coordinate the functions of an organization to customer satisfaction
Process management seeks effectiveness and efficiency though promotion of what?
Innovation, flexibility, and integration with technology
What are the five categories of business process management?
Design Modeling Execution Monitoring Optimization
What is the design phase?
Identification of existing processes and the conceptual design of how processes should function
What is the modeling phase?
The introduction of variables to the conceptual design for what-if analysis
What is the execution phase?
The implementation of design changes and development of key indicators of success
What is the monitoring phase?
Information is gathered, tracked, and then compared to expected performance
What is the optimization phase?
The use of the monitored data and original design to refine the processes
What are the five techniques to process management?
Define Measure Analyze Improve Control
Process management is also referred to as what?
Plan
Do
Check
Act
What are shared services?
Redundant services that are combined and shared within a group or organization
What are two complications of shared services?
- Service flow disruption: Waste in transition, rework and duplication as well as increases in the time it takes to deliver a service
- Failure demand: A failure to do something or to do something right for a customer
What is business process reengineering (BPR)?
Techniques to help organizations rethink how work in done in order to dramatically improve customer satisfaction, etc.
What is the difference between BPR and BPM?
BPR seeks radical changes while BPM seems incremental changes
What is Just-in-Time (JIT) management?
Achieves efficiency by scheduling the deployment of resources just in time to meet customer or production requirements
What are costs of quality?
Costs associated with activities related to conformance with quality standards and opportunity costs or activities associated with correcting nonconformance with quality standards
What are conformance costs?
The cost of ensuring conformance with quality standards:
1. Prevention: Costs incurred to PREVENT the production of defective units: (Employee training, inspection, redesign…)
- Appraisal: Costs incurred to discover and remove defective parts before they are shipped – DETECTIVE BEFORE ( Statical quality check, testing, inspection, maintenance )
What are nonconformance costs?
The cost of nonconformance with quality standards:
1. internal failure cost: The cost to cure a defect discovered before the product is sent (Rework cost, scraps, tooling changes, downtime..)
- external failure cost: The cost to cure a defect discovered after the product is sent (warranty cost, cost of returning, liability claims, reengineering an external failure)
What is total quality management (TQM)?
An organizational commitment to customer focused performance that emphasizes quality and continuous improvement
What are the seven critical factors of TQM?
Customer focus Continuous improvement Workforce involvement Top management support Objective measures Timely Recognition Ongoing training
What is a quality circle?
Small groups of workers that use team approaches to process involvement
What are quality audits?
Techniques used as part of the strategic positioning function in which management assesses the quality practices of the organization
What is gap analysis?
The determination of the difference between industry best practices and the organization’s current practices
What is lean manufacturing?
The use of only those resources required to meet the requirements of the customer, reduce waste.
What is the theory of constraints(TOC)?
Organizations are impeded from achieving objectives by the existence of one or more constraints
What are the five steps of TOC?
Identification Exploitation Subordinate everything else to the above decisions Elevate Return to step one
What is a project?
A temporary undertaking intended to produce a unique service, product, or result
What are the five major processes of project management?
Authorization Planning Implementation Monitoring Closing
What is a project charter?
A document that contains a business justification to fulfill the needs and expectations of initial stakeholders by carrying out a statement of work that will achieve the project objectives
What is planning?
All of the activities necessary to determine the scope of the project, refine the project objectives, and define the course of action required to attain the project objectives
What is implementation?
Activities that are associated with completing the work that has been specified in the project plan and producing the deliverables
What is monitoring?
Procedures that are performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken to ensure completion
What is an executive steering committee?
A committee that directs a project but does not manage on a daily basis
What are organizational process assets?
Institutional lessons learned from previous projects, project files, organizational and project process controls
What is scope management?
Managing all of the work required to complete to complete a project and nothing else
The attributes of the product, service, or result
What is a scope baseline?
The formal written statement describing both the end product (product scope) and the project scope
What is a cost baseline?
The amount of money that is expected to be spend on a project
What is parametric estimation?
A technique that relies on a statistical relationship between historical cost and other variables
What is analogous estimation?
The cost of similar sized projects conducted in the past used to approximate the cost of the current project
What is work breakdown structure estimation?
WBS activity is estimated and then the costs of each WBS activity are aggregated to form the project budget
What is a three point estimation?
A range of cost estimates based on a most likely assumption of project costs
What terms can identify the quality of deliverables?
Specific Measurable Attainable Relevant Time based
What is a project manager?
A person responsible for project administration on a day to day basis
What is a project member?
People who perform the project tasks
Who is a project sponsor?
An individual at the executive level of management who is responsible for allocating funding and resources to the project
