Project Management Fundamentals Flashcards

1
Q

Guide to Project Management Body of Knowledge (PMBOK Guide)

A

PMI publication that defined widely accepted project management practices. CAPM and PMP are based on this.

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2
Q

Application areas

A

The areas of expertise, industry, or function where a project is centered. Examples include IT, architecture, health care, manufacturing.

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3
Q

Business value

A

Quantifiable return on investment.

  • Can be tangible (equipment, money, market share)
  • Can be intangible (reputation, brand recognition, trademarks)
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4
Q

Certified Associate in Project Management (CAPM)

A

Person with slightly less PM experience than a PMP, but qualified and passed CAPM exam.

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5
Q

Cultural and social environment

A

Defines how project affects people and how those people might affect a project.

C and S environments include economic, educational, ethical, religious, demographic, ethnic composition of the people affected by a project.

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6
Q

Deliverable

A

A product, service, or result created by a project. Projects can have multiple deliverables.

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7
Q

General management skills

A

Include:

  • application of accounting
  • procurement
  • sales and marketing
  • contracting,
  • Manufacturing,
  • logistics
  • strategic planning
  • human resource management
  • standards and regulatons,
  • information technology
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8
Q

International and political environment

A

Considerations of local/international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress

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9
Q

Interpersonal skills

A

The ability to interact, lead, motivate, and manage people

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10
Q

Iron triangle of PM

A

Time, cost and scope

If any side is not in balance, the project will suffer.

aka the triple constraints of PM

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11
Q

Physical environment

A

Physical structure and surroundings that affect a project’s work

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12
Q

Process groups

A

Collection of related processes in project management.

5 process groups (IPECC):

  • Initiating
  • Planning
  • Executing
  • Monitoring and Controlling
  • Closing

49 processes within the process groups

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13
Q

Program

A

A collection of related projects working in unison towards a common deliverable.

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14
Q

Progressive elaboration

A

Process of gather project details.

Uses deductive reasoning, logic, and series of information-gathering techniques to identify details about a project, product, or solution.

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15
Q

Project

A

A temporary endeavor to create a unique product, service, or result. End product is called a deliverable.

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16
Q

Project benefits management plan

A

Document created and maintained by project sponsor and PM

Defines what benefits the project will create, when the benefits will be realized, and how benefits will be measured.

17
Q

Project business case

A

Created and maintained by project sponsor.

Shows financial validity of why a project is chartered and launched within the organization.

Typically, project business case is created before the launch of the project and may be used as a go/no-go decision point.

18
Q

Project environment

A

Location and culture of the environment where project work will reside.

Includes social, economic, and environmental variables that project must work with or around.

19
Q

PMI

A

Organization of PM professionals from around the world, supporting and promoting the careers, values, and concerns of PMs

20
Q

Project life cycle

A

Phases that make up the project.

Unique to the type of work being performed and not universal.
e.g. foundation, framing, etc.

21
Q

PMO - PM Office

A

Central office that oversees all project within an organization or within a functional department.

PMO supports PM through software, training, templates, policies, communication, dispute resolution, others,

22
Q

PMP

A

Person with proven PM experience and qualified/passed PMP exam

23
Q

Project portfolio management

A

Management and selection of projects that support organizations vision and mission.

Balance of project priority, risk, reward, RoI. Senior management process.

24
Q

Subprojects

A

Smaller project managed within larger parent project.

Often contracted work whose deliverables allow larger project to progress.

25
Triple constraints of PM
AKA iron triangle Cost Time Scope Every project has these constraints.
26
Work performance data
Raw data, observations, and measurements about projects components. Gathered and stored in PM information system. Performance data -> performance info -> performance reports
27
Work performance information
The actual processed and analyzed data that will help PM make project decisions. Performance data -> performance info -> performance reports
28
Work performance reports
Formatted communication of work performance information. Communicates project through status reports, memos, dashboards, etc. Performance data -> performance info -> performance reports