Project Management Fundamentals Flashcards

1
Q

Project

A

Providing a solution to a problem with careful planning

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2
Q

Project Management

A

Making decisions and applying planning, organizing, scheduling, leading, and controlling that meet unique customer and organizational expectations given performance, time, and cost objectives

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3
Q

Project Management Principles

A
  1. Universal Application
  2. Situational Approach
  3. Change and General Management Basics
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4
Q

PMI

A

Project Management Institute

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5
Q

PMP

A

Project Management Professional

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6
Q

task

A

a unit of work within a project

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7
Q

CAPM

A

Certified Associate in Project Management

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8
Q

PMBOK

A

Project Management Body of Knowledge

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9
Q

AAA Method

A

Analysis, Advice, Actions

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10
Q

Planning

A

Using past information to make present decisions to achieve future objectives

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11
Q

Organizing

A

arranging human resources to accomplish objectives

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12
Q

Leading

A

providing direction and communication with others that lead to accomplishing objectives

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13
Q

Controlling

A

setting objectives, reviewing results, and taking action to minimize the difference between objectives and results

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14
Q

Scheduling

A

arranging tasks in a time-ordered series

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15
Q

Decision-making

A

choosing between alternatives to achieve objectives

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16
Q

What is a part of general management that is specific to project management?

A

Scheduling

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17
Q

outcomes

A

the results of planning

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18
Q

strategy

A

preferred means to reach an outcome

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19
Q

SCRUM

A

the framework used for agile

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20
Q

PDCA

A

Plan, Do, Check, Act (involves trying things out on a limited basis)

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21
Q

Resources

A

determine the resource requirements to implement the strategy

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22
Q

Tactics

A

actions that support the strategy and stay within the boundaries of your resources

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23
Q

Planning Premises

A

documents your assumptions, company policies, and existing company plans

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24
Q

Agile

A

adaptive change that occurs continuously over the course of a project

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25
Q

effectiveness

A

doing the right things

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26
Q

efficiency

A

doing things right

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27
Q

triple constraint

A

Time, Cost, Scope (aka the Iron Triangle)

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28
Q

limiting factor

A

the greatest constraint a project faces

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29
Q

contingency plan

A

provides advanced plan decisions and responses for alternative future outcomes

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30
Q

estimating

A

predicting outcomes

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31
Q

Control

A

Getting the results you expect

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32
Q

Benefits of Control

A

assess productivity, detect early warning signals, assess risks, enact reality checks, determine ownership and teamwork, facilitate learning

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33
Q

Situational Leadership

A

flexible way of working with people and enabling control

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34
Q

Effective Control Systems

A

Reliable, Prompt, Legitimate, Focused, Cost-effective, Compatible, Adaptive

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35
Q

Mechanics of a Control System

A

Measurement methods, measurement frequency and magnitude, authority, feedback

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36
Q

Prerequisites for Control

A

develop a plan, specify organizational responsibility, be objective, be flexible

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37
Q

Control Process Steps

A
  1. Identify Characteristics
  2. Set a Standard
  3. Collect Information
  4. Measure Performance
  5. Compare Results
  6. Take Corrective Action
  7. Review Actions Taken
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38
Q

Problems with Control Process

A

difficult standards, wrong standards, biased reporting

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39
Q

Types of Control

A

Feedback, Screening, Feedforward

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40
Q

Control Techniques

A

Budgets, Audits, Charts

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41
Q

Project Manager Roles and Responsibilities

A
  1. Define the project mission
  2. Prepare the project mission
  3. Obtain resources
  4. Set standards for performance
  5. Delegate duties to team members
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42
Q

Project Manager Skills and Competencies

A
  1. Leadership Skills
  2. Team Building Skills
  3. Stress Management Skills
  4. Interpersonal Skills
  5. Administrative Skills
  6. Business Skills
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43
Q

Project Manager Challenges

A
  1. Lack of Authority
  2. Poor fit for the job
  3. Inadequate Resources
  4. Lack of clear goals
  5. Interdepartmental Conflicts
  6. Unrealistic Schedules
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44
Q

Elements of the Project Team

A
  1. Mutual support and assistance
  2. Role definition
  3. Common Goals
  4. Identification with each other
  5. Stability
  6. Rewards and recognition
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45
Q

Responsibility Assignment Matrix (RAM)

A

A table that lists the various tasks and who they are assigned to

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46
Q

Responsible, accountable, consulted, informed model (RACI)

A

Improves on the RAM model because it adds responsibility

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47
Q

Team Building

A

any activity that helps a group of people see the value of working together. It is a coordinated and collaborative effort.

48
Q

Project Team Challenges

A
  1. Lack of common goals
  2. Unrealistic expectations
  3. Putting ‘me’ ahead of the team
  4. Inadequate team building
49
Q

Deliverables

A

output of a project

50
Q

Deliverables Chain

A
  1. Customer
  2. Marketing
  3. Research and Development
  4. Manufacturing and Engineering
  5. Purchasing
  6. Production
  7. Distribution
51
Q

Quality Function Deployment

A

Purpose: to increase the probability that the deliverables at every phase of the project meet internal and external expectations

52
Q

Stakeholders

A

meeting their wants and needs makes the project a success

53
Q

Communication

A

the objective of communication is to create a common understanding

54
Q

Allness

A

“Allness” mindset is when you stereotype people as being alike

55
Q

Breakthrough Thinking

A
  1. Brainstorming
  2. Brainwriting
  3. Nominal Group Technique
  4. Affinity Diagrams
56
Q

Brainstorming

A

Spontaneously producing a lot of ideas in a short time

57
Q

Brainwriting

A

same as brainstorming, except participants write down their ideas

58
Q

Nominal Group Technique

A

another brainstorming technique. Participants write down their ideas. When everyone has finished, each person reads one idea until all ideas have been recorded.

59
Q

Affinity Diagram

A

participants write one idea on each notecard and post the cards on the wall. Cards are then organized into categories.

60
Q

Satisficing

A

Satisfy + sacrifice = when decisions are satisfactory but sacrifice alternatives

61
Q

Anticipated Decisions

A

“Programmed Decisions” under stable conditions

62
Q

Unanticipated Decisions

A

“Unprogrammed Decisions” made under unstable conditions

63
Q

Cognitive Dissonance

A

(buyer’s remorse) anxiety cause by a difference between your beliefs / expectations and reality

64
Q

States of Nature (decision-making conditions)

A

Certainty, risk, and uncertainty

65
Q

Root Cause Analysis

A

Root cause analysis involves finding the root cause (or the heart of the problem). instead of just focusing on the symptoms

66
Q

Cost Benefit Analysis

A

ratio of benefits to costs

67
Q

Decision Trees

A

schematic drawing that shows decision nodes and branches for probabilistic outcomes

68
Q

Organizational Politics

A

activities that occur outside the authorized organization to benefit individuals

69
Q

Conflict

A

will always occur when people have different views or expectations

70
Q

Stages of Conflict

A
  1. Concealed
  2. Recognized
  3. Expressed
  4. Resolved
71
Q

Conflict Dynamics

A

Positive and negative aspects of conflicts

72
Q

Win-win Negotiating

A

Used for business and project management - opposite of win-lose negotiating used for selling cars

73
Q

BATNA

A

Best Alternative to a Negotiating Agreement

74
Q

PIOC

A

People, Interests, Opinions, Criteria

75
Q

Cost Classification

A

direct labor, direct material, overhead, period/recurring cost, nonrecurring cost, variable cost, fixed cost, relevant cost, sunk cost, opportunity cost, net present value

76
Q

Budget

A

a detailed money plan for the future

77
Q

Bottom-up budgeting

A

a budget developed based on using lower level project management tasks

78
Q

Top-down budgeting

A

developed by management forcing down allocations among project categories

79
Q

S-curve

A

Cost / Time chart: visually track progress and display money spent over time

80
Q

Assumption Log

A

enable you to acquire, record, and assess the accuracy of assumptions throughout the project

81
Q

Change Request

A

to formally initiate a project change

82
Q

Change Control Board (CCB)

A

employees charged with overseeing and executing configuration management

83
Q

Activity-based Costing (ABC)

A

method to identify cost drivers

84
Q

Cost Driver

A

any activity that causes a company to spend money

85
Q

Variance

A

a deviation from the plan

86
Q

Statusing

A

taking a ‘status’ snapshot of a project at specific times

87
Q

Earned Value Performance Management

A

integrated, structured, and quantitative method to jointly assess the performance of project scope, cost, and schedule based on time

88
Q

Environmental Factors

A

Factors such as technology and the economy (external) and company culture and management (internal) that influence a project

89
Q

Strategic fit of projects

A

requirement of projects to support a company’s strategy

90
Q

Project Management Organization

A

arrangement of people to support a project, such as functional, matrix, and projectized

91
Q

Project Selection Criteria and Models

A

methods to choose between possible project alternatives

92
Q

Project Planning Hierarchy

A

consists of 1. SOW 2. Project Charter 3. WBS (work breakdown schedule) and 4. project schedule

93
Q

Functional Organization

A

Activities are organized around work that occurs on an ongoing basis such as marketing, engineering, information technology, operations, and human resources.

94
Q

Human Resource Plan

A

identifies personnel resources and roles

95
Q

Supply Management Plan

A

identifies non-personnel resources

96
Q

Interface Plan

A

identifies activities that occur between your project and it’s environment

97
Q

Configuration Management Plan

A

method to effectively manage proposed and actual changes to a project

98
Q

Cost Management Plan

A

identifies mechanisms to manage costs to the original estimates

99
Q

Quality Plan

A

identifies how your project will meet expectations

100
Q

Risk Management Plan

A

identifies the method to control risk

101
Q

Reporting Plan

A

identifies the written and verbal communication plan

102
Q

Project Management Software

A

should be able to import and export data, create graphs, and track project progress

103
Q

Project Purpose

A

why a project exists

104
Q

Project Mission

A

what is planned to be done and for whom

105
Q

Project objectives

A

intended, specific outcomes

106
Q

visible management support and commitment

A

obvious engagement and actions that are in the best interest of the project

107
Q

knowledge

A

accumulation of information

108
Q

proficiency

A

deals with application

109
Q

Project pilot

A

small-scale, short-term experiment

110
Q

Plan, Do, Check, Act

A

flow diagram for learning

111
Q

Project packages

A

self contained shell made up of several packages

112
Q

Project accounts

A

specific job cost accounts

113
Q

kick off meeting

A

represents the start of a projects implementation phase

114
Q

empowerment

A

takes place when power is given to employees who then have a sense of ownership over their job

115
Q

Project performance measurements

A

use to manage by fact instead of by emotions