Project Management Components

Question 1

What are the 4 keys to Tailoring the Process

Answer 1

1. Choose what processes will be used on a project
2. To what depth the processes should be used
3. Tailor to fit your project
4. The larger the project, the more processes are likely

Question 2

Predictive Life Cycles

Answer 2

Plan-Driven, waterfall step-by-step approach, predicts project life cycle
Changes to scope are tightly controlled

Question 3

Iterative & Incremental Life Cycles

Answer 3

Iterative: Phases repeat through iterations, continuous refinement, creating deliverables each refinement

Incremental: Deliverables are provided incrementally, little by little.

Detailed scope is elaborated for each iteration
Changes to project are expected

Question 4

Adaptive Life Cycles

Answer 4

Change Driven
Agile Project Management
Rapid iterations, backlog of requirements, Changes to scope expected.

Question 5

Backlog

Answer 5

A prioritized list of tasks that teams need to work on within the scope of a project management strategy

Question 6

Business Documents

Answer 6

Project Business Case
Project Charter
Project Management Plan
Benefits Management Plan

Question 7

Phase Gate/Kill Point

Answer 7

Once a phase is complete, before moving to the next phase. A review is done on the completed phase, that review is a phase gate.

Evaluate if to move forward to the next phase, with or without modification, remain in the current phase, or repeat the phase

Also called a Kill Point because it could kill a project based on performance

Question 8

Business Documents for Project Performance

Answer 8

Phase gates within the project

Performance compared to business documents

Question 9

Exception/Variance Report

Answer 9

Communicates why a KPI wasn’t met or overbudget

Question 10

Project Business Case

Answer 10

A documentation of the potential outcomes of a new project, including benefits, cost, and effects.

Project sponsor accountable for the development and maintenance

PM Responsible for providing recommendations

Maintained throughout the project.

Can be at the program level

Question 11

Business Case: Business Needs

Answer 11

What is the problem or opportunity the project going to solve?

What Stakeholders are affected

Identification of the scope

Question 12

Business Case: Project Determination

Answer 12

Organizational strategies, goals and objectives

Root cause or contributors of a positive opportunity

Known risks

Gap analysis of capabilities (skilled workers vs work needing to be done)

Decision Criteria

Question 13

Required vs Desired vs Optional

Answer 13

Required = Required
Desired = Preferable
Optional = Not important, would be nice

Question 14

Project Benefits Management Plan

Answer 14

The Benefits Management plan will describe how the benefits of the project will be delivered and when they will be delivered.

Target Benefit - Expected tangible and intangible value

Strategic Alignment - Alignment to business strategies

Timeframe - When will benefits be realized? Short-term, long-term, and ongoing?

Metrics - Measures to be used to show benefits realized

Assumptions – Any assumptions made for the realization of benefits

Risks – Any foreseeable risks for the realization of benefits

Question 15

Integration Management

Answer 15

Develop Project Charter

Develop Project Management Plan

Direct & Manage Project Work

Manage Project Knowledge

Monitor and Control Project Work

Perform Integrated Change Control

Close Project or Phase

Question 16

Scope Management

Answer 16

Plan Scope Management

Collect Requirements

Define Scope

Create WBS

Validate Scope

Control Scope

Question 17

Hybrid Life Cycle

Answer 17

Hybrid life cycle is a combination of predictive and adaptive approaches.