Project Management Foundations Flashcards
Define: Project
A temporary endeavor to create unique products, services or results
What do we call a temporary endeavor to create unique products, services or results?
A Project
What is the primary purpose of projects?
To drive change from a current state to a desired future state
After the project is launched and moving forward, the project could enter this status while the team is doing tasks related to supporting the project or ramping up.
Transition state
What four activities is a project always doing to drive change?
Moving
Adding
Changing
Deleting
What is the acronym for the four activities a project is always doing to drive change?
MAC-D
What does a project initiation context describe?
Why the project was created
Name four project initiation contexts.
Regulatory, legal or social requirements
Stakeholder requests
Technological advances
Creating, improving, or fixing products, processes, or services
Why are projects usually initiated?
To solve a problem or to seize an opportunity
What are two kinds of business value for projects?
Tangible and intangible
Name four kinds of tangible business value.
Monetary assets
Stockholder equity
Fixtures and tools
Market share
Name five kinds of intangible business value.
Goodwill and reputation Brand recognition Public benefit Trademarks Strategic alignment
What is project management?
The application of knowledge, skills, tools and techniques to meet the project requirements.
What is the application of knowledge, skills, tools and techniques to meet the project requirements called.
Project management
How many processes are involved in project management?
49 processes
Name six competing constraints project managers must balance on a project.
Scope Quality Schedule Budget Resources Risks
Name five tasks involved in typical project management.
Identifying requirements
Addressing stakeholder needs, concerns and expectations
Setting up, maintaining and carrying out communications
Managing stakeholders
Balancing competing project constraints
Which three project constraints are the most important for project success?
Time
Cost
Scope
True or false: Progressive elaboration and a project management approach involves starting broad and getting more and more specific.
True. It is like deductive reasoning
Name the progressive steps in progressive elaboration.
Idea or concept Formulate the idea Business case Feasibility study Project
Name four project application areas.
Construction
Health care
Government
Information Areas
What is the difference between a project and operations?
A project is temporary. Operations are ongoing.
What is the difference between a project management life cycle and a project life cycle?
A project management life cycle involves the domains (IPECC) that we all use as project managers. A project life cycle is unique for every project.
The end of a project phase creates this.
A milestone
