Project Management Terms Flashcards
The 3 terms that best describe the nature of projects.
Temporary
Unique
Progressively elaborated
Another term, other form of progressive elaboration.
Rolling Wave Planning
What does a project produce ?
Product, service or result
Project management is the application of what ?
Knowledge, skills, tools and techniques.
Why do we apply project management knowledge, skills, tools and technique ?
To satisfy project requirements.
What does a project deliver to an organization upon completion?
Value
Deals with the ongoing production of goods and services.
Considers the acquisition, development and utilization of resources that firms need to deliver the goods and services.
Operations management.
A collection of projects, programs, subsidiary portfolios and operations managed as a group to achieve strategic objectives.
Portfolio management
A collection of logically related project activities that culminates in the completion of one or more deliverables.
A phase.
Any unique and verifiable product, service or result.
A deliverable.
What finishes when a project deliverable is formally accepted by the customer or the sponsor?
The phase.
Group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually.
Program management
What should be added if a decision is made to manage projects together as a program?
Value
A representation of the phases that a project typically goes through from start to finish.
Project Life Cycle
Framework, functions and processes that guide project management activities in order to create a unique product, service or result to meet a company goal.
Project governance
Individuals, group or organization that may affect, be affected or perceive to be affected by the project.
Stakeholders
Empowered to lead the project
Authorized to make decisions
Responsible for the success or failure of the project
Project manager
Organizational structure that standardizes the processes and facilitates the sharing of resources, methodologies, tools and techniques. The set of folks that are there to help the PM.
Project management office
Functional organizations, matrix organizations, project oriented organizations.
Organizational Structures
Structure that groups staff members according to their area of expertise.
Functional organization
Can either be weak, balanced and strong. The different structures are reflective of the project manager’s authority in relation to the functional manager’s authority.
Matrix organization
Structure where the PM has the greatest amount of authority. The project team is assigned to the project on a full-time basis.
Project Oriented Organization
Full-time project manager, need to get resources from the functional manager, once the staff comes in, they are full-time on the project.
Strong matrix
Project scope, schedule, cost, risk, quality, resources
Project Constraints
Inputs, outputs, tools and techniques combined to execute a specific purpose on the project.
Process
