Project Management Framework Flashcards
Define a Project
a temporary endeavor undertaken to create a unique product, service, or result.
must have beginning and end.
typically yield: product, capability to perform a service, or result.
Define Project Management
the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
includes, but is not limited to: identifying requirements, communication, managing stakeholders, balancing project constraints.
Define Program
a group of related projects, managed in a coordinated way to obtain benefits (and control) not available managing them individually.
What are the 5 Project Management Process Groups?
Initiation
Planning
Executing
Monitoring and Controlling
Closing
What is the purpose of a Project?
they drive change in an organization by moving it from one state (current state) to another (the future/desired state) in order to achieve a specific objective or set of objectives.
Project/Program Management vs Portfolio Management
focuses on doing programs and projects the “right” way.
focuses on doing the “right” programs and projects.
What are the benefits of standardizing Project Management within an org (usually thru PMO)?
common language
common processes
singular methodology and training
benchmarking
continuous improvement
Define Portfolio Management
provides or facilitates the following in an organization:
selection and prioritization guidelines or criteria of projects or programs.
resource management.
process, productivity, through consistent capturing and review of lessons learned and trend analysis.
What are some examples of Governance Criteria?
what is the financial benefit of the project? ROI?
market need.
market competition.
market future positioning.
operations and maintenance costs.
regulation.
Define the Project Life Cycle and name its 4 major categories.
provides the basic sequence of work for the project.
4 categories:
predictive (plan-driven)
iterative
incremental
adaptive (change driven or agile)
When is a Predictive Life Cycle appropriate to use?
when the project needs are clearly defined and well understood at the start.
What are the steps for a Predictive (plan-driven) Life Cycle?
Requirements
Feasibility
Planning
Design
Construct
Test
Turnover
If a project can be delivered in segments, which is the most appropriate life cycle to use?
iterative & incremental
When a significant level of change is expected during the project, which is the most appropriate life cycle to use?
adaptive (agile)
Define Progressive Elaboration
the iterative process of increasing the level of detail in a project management plan as greater amounts of info and more accurate estimates become available.
also called Rolling Wave Planning
