Project Management Foundations Flashcards
Projects are a … endeavor (not ongoing/operations) - they have a … beginning and ending
It does not equal short-duration
temporary
definite
Projects end when:
- … met
- … cannot or will not be met
- Funds are …
- Need no longer exists
- … are no longer available
- Legalities or convenience terminate the project
- Objectives
- Objectives
- depleted
- Resources
Projects create … products, services or results
unique
Projects drive …
- … from current state to future state; might have a … state in-between
quick check if I am doing a project: MACD - are you ?
1. ….
2. …
3. …
4. …
change
- changing / transition
1. moving
2. adding
3. changing
4. deleting
Business value means ... for the organisation and stakeholders: A. Tangible business value: 1) ... assets 2) stockholder ... 3) fixture and tools 4) ... share
B. Intangible business value
1) … and reputation
2) brand …
3) public benefit
4) trademarks
5) strategic …
benefits
A. 1) monetary
2) equity
4) market
B. 1) goodwill
2) recognition 5) alignment
Project … …: why does an organisation do a project?
Usually because the project enables … … creation
initiation context
business value
Why projects are created:
- …, … or social requirements - we are obligated to do the project
- … requests - the customer asks us to do sth for them
- … advances
- …, … or fix products, processes or services
- Regulatory, legal
- Stakeholder
- Technological
- Create, improve
PM manages the … in an organisation from a … to the … state
change, current, desired
Project Management is application of …, …, … and … to meet project requirements
knowledge, skills, tools and techniques
... project management processes (one does not need to use all of them) 5 project management process ... 1) ... 2) ... 3) ... 4) ... and ... 5) Closing
49 groups 1) Initiating 2) Planning 3) Executing 4) Monitoring and Controlling
Typical Project Management: 1. Identifying ... 2. Addressing needs, ... and ... of stakeholders 3. Setting up, maintaining and carrying out ... 4. Managing ... 5. Balancing competing project constraints: S... Q... S... B... R... R...
- requirements
- concerns and expectations
- communications
- stakeholders
5.
Scope
Quality
Schedule
Budget
Resources
Risks
Progressive … - moving from broad to specific
- Idea or concept
- … the idea
- Business … (what’s the value?)
- … study
- Project
Elaboration
- Formulate
- case
- Feasibility
Project management application areas:
- C…
- …
- …
- Information Technology
- Construction
- Health care
- Government
Project management life cycle = common process groups
IPECC (Initiating, Planning, Executing, Controlling, Closing)
Project life cycle = unique to each project
phases of the project
