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PMP Exam Prep > Project Management Principles > Flashcards

Project Management Principles Flashcards

1
Q

Three sides to the PMI Talent Triangle

A

Power Skills - linked to people domain
Business Acumen - Liked to Business Environment domain
Ways of working - linked to process domain

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2
Q

PMI Talent Triangle: Power Skills

A

Power skills involve the ability to
1. Lead

  1. Motivate
  2. Communicate effectively with project teams, stakeholders, and other key players.

Includes skills like
1. Team building

  1. Conflict resolution
  2. Communication.
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3
Q

PMI Talent Triangle: Ways of Working

A

Ways of working involves managing project-related activities such as scope, time, cost, quality, and risk.

This includes skills like:
1. Planning

  1. Scheduling
  2. Budgeting
  3. Risk assessment.
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4
Q

PMI Talent Triangle: Business Acumen

A

Formerly strategic in business management

Having an understanding of macro and micro influences across an organization and industry

Making effective decisions

Understanding how projects align with the big picture, broader organizational strategy, and global trends

Links to the business environment domain of the PMP exam content outline

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5
Q

Systems for Value Delivery: Three types of Organizational Structures

A

Functional Structure
Project-Oriented Structure
Matrix Structure

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6
Q

Systems for Value Delivery: Organizational Structure - Project-Oriented Structure

A

Employees organized around specific projects

Project managers have full authority over project resources and are full-time on the project

Provides flexibility and responsiveness to changing project needs

Can create inefficiencies and duplication of effort when resources are dedicated to multiple projects simultaneously

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6
Q

Systems for Value Delivery: Organizational Structure - Functional Structure

A

Employees grouped by specialized skills or functions

Provides high level of expertise and specialization

Can create silos and hinder communication and collaboration

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7
Q

Systems for Value Delivery: Organizational Structure - Project- Matrix Structure

A

Leverages both functional and project-oriented structures

Employees assigned to both functional teams and project teams

Strikes balance between functional and project-oriented structures

Can create confusion over roles and responsibilities and conflicts between functional and project managers

Subcategories of Matrix Organizational Structure
1. Strong Matrix

  1. PM has moderate to high authority and manages budget
  2. Balanced Matrix
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8
Q

Organizational Project Management: Projects

A

Temporary endeavor with a start and an end

Create a unique product, service or result

Managed by a project manager

Produce deliverables that result in desired outcomes

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9
Q

Organizational Project Management: Programs

A

Related projects, subsidiary programs and program activities

Managed in a coordinated way to achieve benefits

Program manager responsible for coordinating and managing related projects and programs

Related projects rely on the same resources and have interdependencies

Focused on harmonizing related projects and ensuring resources are not overtaxed

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10
Q

Organizational Project Management: Portfolio

A

Comprises of projects, programs, subsidiary portfolios and operations managed as a group

Managed by a portfolio manager

Meant to help the organization make decisions about where to allocate resources, how to prioritize investments and how to manage risk

Managed all shared resources and stakeholders

Projects and programs have their own goals, timeline and budget

Part of the larger portfolio of projects that are intended to improve the organization’s strategic objectives

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11
Q

Organizational Project Management: Organizational Project Management (OPM)

A

Framework that provides direction for how portfolios, programs, projects and other organizational work should be prioritized, managed, executed and measured

Aligned with strategic objectives, leading to consistency

Improves project management practices

Helps achieve the organization’s strategic goals and desired benefits

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12
Q

Organizational Project Management: Project Management Office (PMO)

A

Can act as a natural liaison between organizations, portfolios, programs, projects, and the organizational measurement systems

PMO can support programs and projects within a portfolio

Key responsibilities of a PPMO would be to standardize project-related governance processes, facilitate the sharing of resources, methodologies, tools and techniques

Having a PMO makes them a key decision maker and stakeholder in projects

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13
Q

Organizational Project Management: Three major types of PMOs

A

Supportive PMO
Controlling PMO
Directed PMO

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14
Q

Organizational Project Management: Supportive PMO

A

More consultative in nature

Provides support, but has low degree of control in managing projects

Provides library of templates and ideas on managing projects, but doesn’t force adherence

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15
Q

Organizational Project Management: Controlling PMO

A

Moderate degree of control

Provides support, but requires adherence and compliance to certain templates or techniques

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16
Q

Organizational Project Management: Directed PMO

A

Directly manages projects

Project managers are assigned and report to this type of PMO structure with a directive

Has a high degree of control

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17
Q

Breaking Down the project work: Progressive elaboration

A

The process of continuously improving and refining project plans as more information becomes available.

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18
Q

Breaking Down the project work: Rolling wave planning

A

Form of progressive elaboration where the project plan is developed in waves with each wave building upon the previous one.

Rolling wave planning allows for more detailed planning of near-term activities while still allowing flexibility for later stages of the project.

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19
Q

Breaking Down the project work: Project Lifecycle and Development Approach

A

The project lifecycle is the series of phases that a project goes through from initiation to closure.

The development approach refers to the methodology or framework used to manage the project lifecycle.

There are many different development approaches, such as predictive, iterative, agile, and hybrid.

Progressive elaboration and rolling wave planning help to refine the project plan over time and are part of a larger framework that includes the entire project lifecycle and the development approach used to manage it

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20
Q

Projects Do not Occur in a Bubble: Internal Environment

A

Internal environment includes organizational process assets (OPA) that are unique to the organization, such as processes, procedures, policies, organizational knowledge repositories, including historical information and lessons learned.

21
Q

Projects Do not Occur in a Bubble: Examples of processes, policies, and procedures

A

Cost and scheduling policies

Resource management policies and guidelines

Templates and guidelines on change management

Configuration management.

22
Q

Projects Do not Occur in a Bubble: Examples of organizational knowledge repositories

A

Configuration Management

Knowledge Repositories

Financial database repositories

Lessons learned repositories

Project files from previous projects.

23
Q

Projects Do not Occur in a Bubble: External Environment

A

External environment takes on the form of enterprise environmental factors (EEF) and includes internal and external factors that are generally outside the control of the project team.

24
Q

Projects Do not Occur in a Bubble: External EFFs

A

Marketplace conditions

Social and cultural influences

Regulatory environment

Academic research

Industry standards

Physical environment.

25
Q

Projects Do not Occur in a Bubble: Internal EFFs

A

Organizational culture

Organizational structure

Geographic distribution of facilities and resources

IT and software

Availability of resources

Employee skill and capability.

26
Q

A Different kind of PM: Projects

A

Duration: Short term, temporary

Scope: Defined objectives; scope is progressively elaborated throughout the lifecycle

Success: Measured by product and project quality, timelines budget, customer satisfaction, and achievment of intended outcomes

Funding: Largely determined up front based on initiatil estimates; Updates based on actual performance and change requests

27
Q

A Different kind of PM: Programs

A

Duration: Longer term

Scope: Programs produce aggregate benefits delivered through multiple contents

Success: Measured by the realization of intended benefits and the efficiency and effectiveness of delivering those benefits

Funding: Upfront and ongoing; funding is updated with results showing how benefits are being delivered

28
Q

A Different kind of PM: Products

A

Duration: Longer term

Scope: Products are customer focused and benefits driven

Success: Measured by the ability to deliver intended benefits and ongoing viability for continued funding

Funding: Product teams engage in continuous development via funding, development blocks, and reviews of value delivery

29
Q

A Different kind of PM: Product Life Cycle

A

The cycle through which every product goes through from introduction to withdrawal or eventual demise
- Introduction
- Growth
- Maturity
- Decline

30
Q

A Different kind of PM: Product Manager

A

Drives the development of products

Prioritizes initiatives and makes strategic decisions about what gets built

Focuses on business objectives, measurable goals, and positive outcomes

Sometimes considered the CEO of a product line

31
Q

A Different kind of PM: Project Manager

A

Oversees previously approved and developed plans

Manages schedules and resources to make sure things get done

Plays an essential part in defining the project plan and successfully executing according to plan

Focuses on the successful completion of a specific project

32
Q

Continuum of Project Management: 3 Development Approaches

A

Predictive
Adaptive
Hybrid

33
Q

Continuum of Project Management: Predictive project management

A

A linear sequence of project phases, with each phase being completed before moving on to the next.

Best suited for projects with well-defined objectives and stable requirements.

33
Q

Continuum of Project Management: Adaptive project management

A

Involves an iterative and incremental approach to project delivery, where requirements and solutions are evolving.

Assumes change is inevitable and that projects must be flexible enough to adapt to changing requirements.

34
Q

Continuum of Project Management: Hybrid

A

Combines predictive and adaptive elements to balance predictability with flexibility.

Leverages the tools and techniques of both predictive and adaptive and is well suited for fixed requirements and evolving requirements.

35
Q

Continuum of Project Management: Continuum of Life Cycles

A

X-axis: Degree of change
Y-Axis: Frequency of Dleivery

Low degree of change and low frequency of delivery, predictive approach makes the most sense.

High degree of change and high frequency of delivery, agile or adaptive makes the most sense.

High degree of change but low frequency of delivery, iterative approach is best.

Low degree of change but high frequency of delivery, incremental approach is best.

35
Q

Continuum of Project Management: Methodology

A

Refers to a set of principles, tools, and practices used to guide project management activities

Provides a framework for project management and includes processes and procedures for planning, executing, monitoring, and controlling project activities

35
Q

Continuum of Project Management: Development approach

A

Refers to the overall strategy used to deliver a project, which can be either predictive or adaptive

36
Q

Continuum of Project Management: Predictive approach

A

Assumes that the project can be fully planned upfront and that changes can be managed through a formal change control process

37
Q

Continuum of Project Management: Project lifecycle

A

Refers to the phases or stages that a project goes through from initiation to closure

Each lifecycle phase has specific objectives, deliverables, and stakeholders

The iterative lifecycle is like a cycle of experimentation and discovery, involving repeating a series of phases or steps, with each iteration building upon the previous one.

37
Q

Continuum of Project Management: Adaptive approach

A

Assumes that change is inevitable and that projects must be flexible enough to adapt to changing requirements

38
Q

Management in Between: Iterative lifecycle

A

Improves the product of results through successive prototyping and/or providing proof of concept.

Allows for feedback for unfinished work and focuses on optimizing learning rather than speed of delivery.

39
Q

Management in Between: Incremental lifecycle

A

Provides finished deliverables that the customer may be able to use immediately.

It’s a subset of the overall solution, and the goal is speed of delivery.

Incremental lifecycle is like breaking the project down into smaller phases, with each phase being a small project within the larger project, having its own set of requirements and deliverables.

40
Q

Management in Between: Agile’s Use of Incremental and Iterative

A

Agile is both iterative and incremental, combining both lifecycles to adapt to high degrees of change and deliver project value more frequently.

Agile teams work in iterations to define planning and review points and determine the most appropriate schedule for planning product reviews and retrospectives.

Incremental delivery uncovers hidden or misunderstood requirements.

41
Q

Which approach do I choose: project approach

A

The project approach can depend on the type of project deliverables produced

The type of deliverables and development approach can be influenced by the cadence and frequency of deliverables

Deliverable and development approach and cadence determine the project lifecycle and its phases with delivery cadence

42
Q

Which approach do I choose: Delivery cadence

A

Delivery cadence refers to the timing and frequency of project deliveries

Single delivery occurs at the end of the project

Multiple deliveries occur at different times throughout the project

Periodic deliveries occur at fixed delivery schedule points

Continuous delivery is the practice of delivering feature increments immediately to customers

43
Q

Which approach do I choose: Project needs

A

Project needs refer to the resources, materials, information, and personnel required to complete a project

Project needs can vary depending on the type and scope of the project

Identifying and prioritizing project needs is essential for successful completion of the project

44
Q

Agile Suitability Filters Categories

A

Culture: Supportive enviroment? Trust the team? Buy-in with the approach? (Buy-in, trust, decision making)

Team: Is the team a suitable size? Experience with adopting agile? (Team Size, Experience, Access)

Project: High rates of change? Is incremental delivery possible? How critical is the project? (Changes, Criticality, Delivery)

45
Q
A

PMP Exam Prep (1 decks)

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