Project Management Principals

Question 1

Principal

Answer 1

Serves as foundational guidelines for strategy, decision making, and problem solving

Professional standards and methodologies are often based on principles

Principles for project management provide guidance for the behavior of people involved in projects

Question 2

Code of Ethics and Prof Conduct

Answer 2

A code of ethics is related to morals

A code of ethics for a profession can be adopted by an individual or profession to establish expectations for moral conduct

4 values
- responsibility
- respect
-fairness
-honesty

Question 3

12 principles

Answer 3

1. Be deligent, respectful, and caring steward
2. Create a collaborative project team environment
3. Effectivey engage with stakeholders
4. Focus on value
5. Recognize evaluate and respond to system interactions
6. Demonstrate leadership behaviors
7. Tailor based on context
8. Build quality into processes and deliverables
9. Navigate complexity
10. Optimize risk responses
11. Embrace adaptability and resiliency
12. Enable change to achieve the envisioned future state

don’t memorize, understand

Question 4

Stewardship

Answer 4

The act of taking care or managing something for example property, an organization, money, or valuable objects.

Act sensibly to carry out actions with integrity, care, and trustworthiness while keeping compliance with internal and external guidelines

They demonstrate a broad commitment to financial, social, and environmental impacts of the projects they support

Responsibilities both within and external to the company

Includes: integrity, care, trustworthiness, and compliance

Question 5

Team

Answer 5

Projects are done by project teams

Diverse skills knowledge and experience

Finish shared objective more effectively and efficiently than individuals working on their own

Work within org and professional cultures and guidelines often establishing their own local culture

Facilitates
- alignment with other cultures and guidelines
- individual and team learning and development and
- optimal contributions to deliver desired outcomes

Question 6

Project teams will be affected by

Answer 6

Team agreements
Org Structures
Processes

Question 7

Stakeholders

Answer 7

Engage stakeholders proactively and to the point needed to contribute to project success and customer satisfaction

Stakeholders impact projects, performance, and outcomes

Project teams work for other stakeholders by engaging with them

Stakeholders engagement proactive improves value delivery

They affect scope requirements, schedule, cost, project team, plans, outcomes, culture, benefits realization, risk, quality and success.

Question 8

Collaborative team environment

Answer 8

• transparent on roles and responsibilities can improve team cultures
• authority - having the right within a given context to make decisions establish or improve procedures apply resources expend funds or give approvals
• accountability - condition of being answerable for an outcomes. not shared

responsibility - obligated to fulfill something

bring together different perspectives, ethical codes, and other guidelines

promotes free exchange of information and individual knowledge

Question 9

Value

Answer 9

• Continuously evaluate and adjust project alignment to objectives and benefits and value
• Value is the ultimate indicator of project success
• Can be realized throughout the project at the end of the project or after the project is complete
• Quantitative or qualitative
• Outcomes allows project teams to support benefits that lead to value creation
• Evaluate progress and adapt to maximize the expected value