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PMP 2024 Study Guide > Project Management Basics > Flashcards

Project Management Basics Flashcards

1
Q

What is a project?

A

Temporary: It has a beginning and an end.
Creates something unique.

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2
Q

Why do we initiate projects?

A

Market Demand
Request of a customer
Business need.
Environmental Considerations
Legal Requirement
Social Need
Technological Advance

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3
Q

What is a program?

A

A program is a set of “Related Projects”

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4
Q

What is a Portfolio?

A

A group of Programs, Operations and Projects.
They share the “Same Strategic Objective”

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5
Q

What is project management?

A

Project have requirements to meet:
Scope
Time
Other Requirements
Efficient Work
Quality

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6
Q

Process Groups?

A

Initiating
Planning
Executing
Monitoring
Controlling
Closing

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7
Q

10 Knowledge Areas

A
  1. Integration Management
  2. Scope Management
  3. Schedule Management
  4. Cost Management
  5. Quality Management
  6. Resource Management
  7. Communication Management
  8. Risk Management
  9. Procurement Management
  10. Stakeholder Management
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8
Q

What is Program Management?

A

Program Management is only needed if it adds value.

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9
Q

Portfolio Management?

A

Portfolio Management is only needed if it adds value.

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10
Q

Organizational Project Management (OPM)

A

Strategic framework
Portfolio Management of:
* Programs
* Operations
* Projects

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11
Q

Operation vs Project?

A

Operation is an Ongoing work.
Project is temporary.

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12
Q

What is a PMO Office?

A

Provides and maintains the standards and the procedures.

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13
Q

What are the “Classification of PMO’s?

A
  1. Supportive - Creates the standards, procedures & other project
    documents
  2. Controlling - Not only supports the project but also has some
    control over the projects.
  3. Directive - Manages the projects among the organization.
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14
Q

What are PMO Authority Leavels?

A

Supportive - Low
Controlling - Med
Directive - High

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15
Q

What is Organizational Governance?

A

High Level strategic goals of the organization.

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16
Q

What is Project Governance?

A

Provides the project team with Policies, processes, decision making models and tolls to administer the project.

17
Q

What are the Organizational Structure

A
  • Organizational Structure
  • Functional
  • Multi-Divisional
  • Matrix (Strong, Weak, Balanced)
  • Project Oriented
  • Virtual
  • Hybrid
  • PMO
18
Q

Functional Organizations

A

Executives > Head of Departments >Departments

19
Q

Project Oriented (Projectized) Organizations

A

Executives >
Project Mgr 1, 2, 3
Depts of Project 1,2,3

20
Q

What is the Dis-advantages of Functional Org?

A

PM authority is less
Sense of belonging is less
Difficult to develop in the field of Project Management.

21
Q

What is the Advantages of Functional Org?

A

Specialization is easier
Career Development on the specialized subject is easier
Resources are more centralized and easy to manage
Administration is easier
Team members are not temporary

22
Q

What is the Dis-advantages of Matrix Org?

A

Complex Structure
Hard to manage
Monitoring and controlling is hard
Resource assignment is hare and complex
Complexity may cause conflicts
Employees may report to more than one executive
Extra rules should be identified.

23
Q

What is the Advantages of Matrix Org?

A

PM has more authority
Resources are better managed
Better Coordination between PM and functional managers.
Better coordination and communication between team members.
Project objective is clearer
Teams members are not temporary.

24
Q

What is the Dis-advantages of Project Oriented Org?

A

Team members are temporary
Specialization is hard
Career dev. on the specialized subject is not easy
Resources are not centralized, they are hard to manage.

25
Q

What is the Advantages of Project Oriented Org?

A

PM has the highest authority
Sense of belonging is high
Better administration and better communication.

26
Q

Who is a project Manager?

A
  • His objective is to achieve the project goals.
  • He adds value toe the organization.
    > A Project Manager is the one who manages the projects to add
    value to his organization by achieving the project goals.
27
Q

Who is a Stakeholder?

A

a stakeholder is anyone who is related to the project.

28
Q

Who is a project sponsor(Initiator)?

A

Sponsor/Initiator:
Provides Support
Prevents unnecessary changes

29
Q

The project sponsor:

A

Approve deliverables
Ensuring project success
Identifies and appoints the project manager
Key decision maker
Project charter
Acting as a liaison among stakeholders
Overseeing and supporting the entire project
Project manager competence
Provide continuous project support
Stakeholder communication
Supporting the project manager and team
Adequate resources
Approve the final project management plan
Clarifies scope questions
Determines the priorities between the constraints
Funding
Initiation
Keeping the project on schedule
Participates in negotiating funds
Planning
Closing
Dictating milestones and end date
Enforces quality policies
Execution

30
Q

Project Team members responsibilities:

A

Create the project plan

Manage components of the plan

Delegate tasks to key team members

Create a project schedule

Lead team members through each phase

Pivot directions when problems arise

Communicate to team members and senior management

31
Q

Resource manager responsibilities

A

Attend project team meetings
Document progress
Establishing project budgets
Assess and manage risks
Assign resources to tasks
Communicate with stakeholders
Project planning
Approve the final project management plan
Delegating work effectively
Improving team members performance
Managing the project schedule
Recruiting project staff
Understand and monitor workload
Address problems preventing projects from progressing
Allocate project resources
Establish project objectives and success criteria
Evaluating project performance
Manage resources
Managing all project deliverables
Managing the budget
Managing time
Monitoring progress
Resource management
Risk management

32
Q

What is difference between project manager and program manager and portfolio manager?

A

Program manager:
Manages a programs of related projects.
Provides coordination between projects.
Supports and leads the project managers
Aims to achieve the strategics goals of the company

A Portfolio manager:
Manges a portfolio- Programs, projects and operations.
Supports and leads the project managers, program managers and operations managers
Aims to achieve the strategics goals of the company

33
Q

Project Lifecycle Management Efforts?

A

Feasibility
Planning
Design
Construction
Completion and Delivery

34
Q

Five phases of project management Lifecycle:

A

Project Initiation
Project Planning
Project Execution
Project Monitoring and Controlling
Project Closing

35
Q

Predictive Life Cycle

A

Well Prepared
Plan-Driven
Waterfall, traditional

36
Q

Adaptive Life Cycle

A

Plan is developed during iterations
Change-Driven, Interactive, Incremental, Agile

Release:
1st Iteration, 2nd, 3rd

37
Q

Hybrid

A

Predictive Life Cycle & Adaptive Life Cycle

PMP 2024 Study Guide (3 decks)

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