Project Management Exam Review Flashcards
What 3 things are different between PMO and PMs
Level of Focus, project vs programs
Resource Allocation Level
Management Level
Function of a Project Manager
Lead the team responsible for achieving project objectives
Satisfy task, team, and individual needs
Project Manager Competencies
Technical Project Management
Leadership
Strategic and Business Management
What makes a good leader?
Be a Visionary Be Respectful Be Optimistic and Positive Integrity Be Collaborative Give credit to others Manage Relationships and Conflicts Life-Long Learner Have good communication
What are the types of organizations?
Functional, Projectized, and Matrix
What are the types of Project Teams?
Dedicated and Part-Time
What is does a project team consist of? what is the core?
Core:
Project Manager
Project Management Staff
Project Staff
Everything else: Business Partners Supporting Experts User/Customer Representations Sellers
What are the types of partnerships?
Strategic Alliance
Joint Venture Projects
Joint Venture Company
Consortium
What is a Strategic Alliance?
Long Term Relationship built on Trust and Respect
Advantage:
- reduce investment risks
- share technologies
Disadvantage:
- hard to maintain
- low efficiency
What is a Joint Venture Project?
Either integrated (different staff members are sent to this single project) or non-integrated (each partner is responsible for doing their own portion)
Advantage:
- Flexible
- mobile in foreign market
- cost savings
Disadvantage:
- hard to find the right partner
- power struggles
- liability issues
What is a Joint Venture Company?
When two or more seperate entities create a jointly owned entity
Can be a corporation or partnership
not always 50/50
- hard to find right partner but can help get you into a new market
What is a Consortium?
Association of two or more entities involved to achieve a common goal, no new independent entity is created like a JVC
What are the project phases?
Initiate, Plan, Execute, and Closing
What are the life cycles?
Predictive, Iterative, Incremental, and Agile
what are the project management processes?
Initiating Process Group Planning Process Group Executing Process Group Monitoring and Controlling Process Group Closing Process Group
What does Project Integration Management aim to do?
Aims to identify, define, combine, unify and coordinate various project management processes
What does project integration management include?
Develop a Project Charter Develop a Project Management Plan Direct and Manage Project Work Monitor and Control Project Work Perform Integrated Change Control Close project or phase
what are the project charter inputs?
Project Statement Business Case Agreement Enterprise Environmental Factors Organizational Process Assets
What are the Project Management Plan baselines?
Scope
Schedule
Cost
What are the project management subsidiary plans?
Scope Management Schedule Management Cost Management Risk Management Quality Management
What are the processes involved in project scope management?
Plan
Collect Requirements
Define, validate, and control scope
Create WBS (subdivide major deliverables and project work into smaller components)
Why do we do scheduling?
to: study the project establish baseline determine activity sequence access implementation methods communication tool get cost estimates and cash flow projections manage involved parties
what does PERT stand for and what does it do?
Project Evaluation and Review Techniques
approach to time uncertainty based on statistical principles
What is risk?
probable event in a project life cycle which is known and could be measured
