Project Management Terms

Question 1

Project Definition

Answer 1

A temporary endeavor to create a unique product, service, or result.

Question 2

Operations definition

Answer 2

The day-to-day work of a business. And on going into her with no start or end date.

Question 3

Difference between a project and operations

Answer 3

Your project is a temporary endeavor that’s unique well operations is the ongoing daily work at the company

Question 4

Project management

Answer 4

Application of knowledge, skills, tools, and techniques to meet the project requirements. It’s about managing people to accomplish the scope of the project in the given constraints of time and cost.

Question 5

Three approaches or types of project management

Answer 5

Predictive - waterfall, planning is done upfront at the beginning of the project
Agile - adaptive, iterative, or incremental the project is built in small increments allowing the customer to add requirements without having to go through a change management process
Hybrid – using both predictive and agile to manage projects

Question 6

Progressive elaboration

Answer 6

Also known as rolling wave planning; discovering greater levels of detail as the project moves towards completion

Question 7

How are processes executed?

Answer 7

Inputs, tools and techniques, outputs
Inputs are things you need to start the process
tools and techniques help you execute the process
outputs are what you get from process

Question 8

What are the five process groups?

Answer 8

Initiating, planning, executing, monitoring and controlling, closing

Question 9

What is a phase?

Answer 9

Division within the project where extra control is needed
Each phase will use all five process groups
Phase gates or kill points are held at the end of each phase to determine if the project should continue
Phases are concluded and formally closed with the acceptance of a deliverable

Question 10

What is a deliverable

Answer 10

Part of a product that is presented to the customer or stakeholder for acceptance
Acceptance of the deliverable negates the face is done

Question 11

What is a process group

Answer 11

A girl or set of processes that the project manager uses at a certain time to complete the project

Question 12

What is a knowledge area?

Answer 12

A set of processes defined by the knowledge needed to manage that area

Question 13

What are the 10 knowledge areas

Answer 13

Integration, scope, schedule, cost, quality, resources, communications, risk, current, stable

Question 14

What are development life cycles?

Answer 14

Project lifecycle is the Series of phases a project will go through from start to finish

Life cycles is a methodology of project management

Question 15

Three types of development lifecycles?

Answer 15

Predictive – the scope time and cost or known early in the project
Iterative - the scope is known early, but the time and cost will be refined as the project progress; also known as adaptive or incremental
Agile - also known as adaptive, very similar to iterative

Question 16

Name the differences between projects, programs, and portfolios

Answer 16

A project is usually small and lasts one month to a year
Programs manage multiple projects for the accomplishment of one central goal and usually last one to two years
Portfolios manage multiple programs and or projects for one main strategic business goal and typically last 3 to 5 years, the aggregate all the resources

Question 17

What are the three baselines?

Answer 17

There are three baselines on all projects: scope time and cost
It’s was used to measure the performance of the project
The scope baseline is what work needs to get done in order to get the project executed, the time baseline is your schedule, and the cost baseline is the budget

Question 18

What is a standard?

Answer 18

Standard is approved by recognized body that provides timelines; it’s a best practice item or document this is the best way to do something that is not required like a regulation

Question 19

What is project governance?

Answer 19

The framework functions and processes that a company or organization follows in order to complete a project

Question 20

What are the three types of a project management office or PMO?

Answer 20

Supportive - low authority but provides templates and training
Controlling - moderate authority and provides the framework and templates
Directive Dash generally has high authority as has complete control of the project; the project manager reports to the PMO

Question 21

Give examples of project stakeholders

Answer 21

Sponsor (authorizes changes, approved deliverables, pays for project), customers, users, sellers, functional managers, senior management, project manager, project team, product owner

Can have a positive or negative impact

Owner will often be PMO

*Deliverables are excepted by either the sponsor or the customer

Question 22

What or who determines the power and authority level of the project manager?

Answer 22

The organizational structure

Question 23

What are the types of organizational structure?

Answer 23

Simple or organic, functional, weak matrix, balanced metrics, virtual, strong matrix, projectized, hybrid

Question 24

Explain the difference between project and product cycles

Answer 24

A project cycle is a phase or phases of a project; also called organizational method
A product cycle is the life cycle a product goes through from start to end; includes many project lifecycles or phases; can be used on multiple projects over the years is typically done in program management

A life cycle is all the stages or phases of a product; about control