Project Management Fundamentals Flashcards
Project
Providing a solution to a problem with careful planning
Project Management
Making decisions and applying planning, organizing, scheduling, leading, and controlling that meet unique customer and organizational expectations given performance, time, and cost objectives
Project Management Principles
- Universal Application
- Situational Approach
- Change and General Management Basics
PMI
Project Management Institute
PMP
Project Management Professional
task
a unit of work within a project
CAPM
Certified Associate in Project Management
PMBOK
Project Management Body of Knowledge
AAA Method
Analysis, Advice, Actions
Planning
Using past information to make present decisions to achieve future objectives
Organizing
arranging human resources to accomplish objectives
Leading
providing direction and communication with others that lead to accomplishing objectives
Controlling
setting objectives, reviewing results, and taking action to minimize the difference between objectives and results
Scheduling
arranging tasks in a time-ordered series
Decision-making
choosing between alternatives to achieve objectives
What is a part of general management that is specific to project management?
Scheduling
outcomes
the results of planning
strategy
preferred means to reach an outcome
SCRUM
the framework used for agile
PDCA
Plan, Do, Check, Act (involves trying things out on a limited basis)
Resources
determine the resource requirements to implement the strategy
Tactics
actions that support the strategy and stay within the boundaries of your resources
Planning Premises
documents your assumptions, company policies, and existing company plans
Agile
adaptive change that occurs continuously over the course of a project
effectiveness
doing the right things
efficiency
doing things right
triple constraint
Time, Cost, Scope (aka the Iron Triangle)
limiting factor
the greatest constraint a project faces
contingency plan
provides advanced plan decisions and responses for alternative future outcomes
estimating
predicting outcomes
Control
Getting the results you expect
Benefits of Control
assess productivity, detect early warning signals, assess risks, enact reality checks, determine ownership and teamwork, facilitate learning
Situational Leadership
flexible way of working with people and enabling control
Effective Control Systems
Reliable, Prompt, Legitimate, Focused, Cost-effective, Compatible, Adaptive
Mechanics of a Control System
Measurement methods, measurement frequency and magnitude, authority, feedback
Prerequisites for Control
develop a plan, specify organizational responsibility, be objective, be flexible
Control Process Steps
- Identify Characteristics
- Set a Standard
- Collect Information
- Measure Performance
- Compare Results
- Take Corrective Action
- Review Actions Taken
Problems with Control Process
difficult standards, wrong standards, biased reporting
Types of Control
Feedback, Screening, Feedforward
Control Techniques
Budgets, Audits, Charts
Project Manager Roles and Responsibilities
- Define the project mission
- Prepare the project mission
- Obtain resources
- Set standards for performance
- Delegate duties to team members
Project Manager Skills and Competencies
- Leadership Skills
- Team Building Skills
- Stress Management Skills
- Interpersonal Skills
- Administrative Skills
- Business Skills
Project Manager Challenges
- Lack of Authority
- Poor fit for the job
- Inadequate Resources
- Lack of clear goals
- Interdepartmental Conflicts
- Unrealistic Schedules
Elements of the Project Team
- Mutual support and assistance
- Role definition
- Common Goals
- Identification with each other
- Stability
- Rewards and recognition
Responsibility Assignment Matrix (RAM)
A table that lists the various tasks and who they are assigned to
Responsible, accountable, consulted, informed model (RACI)
Improves on the RAM model because it adds responsibility
Team Building
any activity that helps a group of people see the value of working together. It is a coordinated and collaborative effort.
Project Team Challenges
- Lack of common goals
- Unrealistic expectations
- Putting ‘me’ ahead of the team
- Inadequate team building
Deliverables
output of a project
Deliverables Chain
- Customer
- Marketing
- Research and Development
- Manufacturing and Engineering
- Purchasing
- Production
- Distribution
Quality Function Deployment
Purpose: to increase the probability that the deliverables at every phase of the project meet internal and external expectations
Stakeholders
meeting their wants and needs makes the project a success
Communication
the objective of communication is to create a common understanding
Allness
“Allness” mindset is when you stereotype people as being alike
Breakthrough Thinking
- Brainstorming
- Brainwriting
- Nominal Group Technique
- Affinity Diagrams
Brainstorming
Spontaneously producing a lot of ideas in a short time
Brainwriting
same as brainstorming, except participants write down their ideas
Nominal Group Technique
another brainstorming technique. Participants write down their ideas. When everyone has finished, each person reads one idea until all ideas have been recorded.
Affinity Diagram
participants write one idea on each notecard and post the cards on the wall. Cards are then organized into categories.
Satisficing
Satisfy + sacrifice = when decisions are satisfactory but sacrifice alternatives
Anticipated Decisions
“Programmed Decisions” under stable conditions
Unanticipated Decisions
“Unprogrammed Decisions” made under unstable conditions
Cognitive Dissonance
(buyer’s remorse) anxiety cause by a difference between your beliefs / expectations and reality
States of Nature (decision-making conditions)
Certainty, risk, and uncertainty
Root Cause Analysis
Root cause analysis involves finding the root cause (or the heart of the problem). instead of just focusing on the symptoms
Cost Benefit Analysis
ratio of benefits to costs
Decision Trees
schematic drawing that shows decision nodes and branches for probabilistic outcomes
Organizational Politics
activities that occur outside the authorized organization to benefit individuals
Conflict
will always occur when people have different views or expectations
Stages of Conflict
- Concealed
- Recognized
- Expressed
- Resolved
Conflict Dynamics
Positive and negative aspects of conflicts
Win-win Negotiating
Used for business and project management - opposite of win-lose negotiating used for selling cars
BATNA
Best Alternative to a Negotiating Agreement
PIOC
People, Interests, Opinions, Criteria
Cost Classification
direct labor, direct material, overhead, period/recurring cost, nonrecurring cost, variable cost, fixed cost, relevant cost, sunk cost, opportunity cost, net present value
Budget
a detailed money plan for the future
Bottom-up budgeting
a budget developed based on using lower level project management tasks
Top-down budgeting
developed by management forcing down allocations among project categories
S-curve
Cost / Time chart: visually track progress and display money spent over time
Assumption Log
enable you to acquire, record, and assess the accuracy of assumptions throughout the project
Change Request
to formally initiate a project change
Change Control Board (CCB)
employees charged with overseeing and executing configuration management
Activity-based Costing (ABC)
method to identify cost drivers
Cost Driver
any activity that causes a company to spend money
Variance
a deviation from the plan
Statusing
taking a ‘status’ snapshot of a project at specific times
Earned Value Performance Management
integrated, structured, and quantitative method to jointly assess the performance of project scope, cost, and schedule based on time
Environmental Factors
Factors such as technology and the economy (external) and company culture and management (internal) that influence a project
Strategic fit of projects
requirement of projects to support a company’s strategy
Project Management Organization
arrangement of people to support a project, such as functional, matrix, and projectized
Project Selection Criteria and Models
methods to choose between possible project alternatives
Project Planning Hierarchy
consists of 1. SOW 2. Project Charter 3. WBS (work breakdown schedule) and 4. project schedule
Functional Organization
Activities are organized around work that occurs on an ongoing basis such as marketing, engineering, information technology, operations, and human resources.
Human Resource Plan
identifies personnel resources and roles
Supply Management Plan
identifies non-personnel resources
Interface Plan
identifies activities that occur between your project and it’s environment
Configuration Management Plan
method to effectively manage proposed and actual changes to a project
Cost Management Plan
identifies mechanisms to manage costs to the original estimates
Quality Plan
identifies how your project will meet expectations
Risk Management Plan
identifies the method to control risk
Reporting Plan
identifies the written and verbal communication plan
Project Management Software
should be able to import and export data, create graphs, and track project progress
Project Purpose
why a project exists
Project Mission
what is planned to be done and for whom
Project objectives
intended, specific outcomes
visible management support and commitment
obvious engagement and actions that are in the best interest of the project
knowledge
accumulation of information
proficiency
deals with application
Project pilot
small-scale, short-term experiment
Plan, Do, Check, Act
flow diagram for learning
Project packages
self contained shell made up of several packages
Project accounts
specific job cost accounts
kick off meeting
represents the start of a projects implementation phase
empowerment
takes place when power is given to employees who then have a sense of ownership over their job
Project performance measurements
use to manage by fact instead of by emotions
