Project Management terms Flashcards

learn basic terms

1
Q

A temporary endeavour that produces a unique product service or result. Temporary in nature and definite beginning and ending. Can be a part of large program or portfolio.

A

Project

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2
Q

3 main Project characteristics

A

Unique, Temporary and Progressively Elaborated

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3
Q

Application of knowledge, tools and techniques to satisfy project requirements

A

Project management

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4
Q

Group of related projects managed in a coordinated way to obtrain benefits and control not available from managing them individually

A

Program management

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5
Q

Organizastional structure that standardizes the processes and facilitates the sharing of resources, methodologies, tools and techniques

A

Project management office

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5
Q

Project management office types

A

Supportive, controlling and Directive

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6
Q

A collection of projects, programs, subsidiaries, and operations managed as a group to achieve strategic objectives.

A

Portfolio

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7
Q
  • Deals with the ongoing production of goods and/or Services
  • Considers the acquisition, development, and utilization of resources that firms need to deliver the goods and services
A

Operations Management

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8
Q

A collection of logically related project activities that culminates in the completion of one or more deliverables

A

Phase

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9
Q

any unique and verifiable
product, service or result
- May be tangible or intangible
- Must be accepted by the customer or sponsor for the phase

A

Deliverable

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10
Q

A representation of the phases that a project typically goes through from start to finish, Can be either predictive or adaptive

A

Project Life cycle

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11
Q

Framework within which
project decisions are made

A

Project Governance

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12
Q

Three pillars of Project governance

A

Structure, People, Information

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13
Q

Individuals, group, or organization that may affect, be affected, or perceive to be affected by the project.

A

Stakeholders

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14
Q

Key Stakeholders for a project

A
  • Project Manager - manages the project
  • Customer - uses the project deliverable
  • Project team - the collection of individuals completing the project work
  • Project Sponsor – Provides resources and support
  • Functional Manager - Departmental Manager, i.e Manager of Engineering, Vice President of Marketing, Director of IT. Generally controls resources
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15
Q

Roles of Project manager

A

Initiator, Negotiator, Listener, coach, working member, Facilitator

16
Q

a significant event or achievement in a project that marks a key point or completion of a major deliverable.

17
Q

the amount of time it takes to complete a specific task or activity within a project

A

Task Duration

18
Q

Organizational Structures

A

Functional Organizations, Matrix Organizations, Project Oriented Organizations (Projectized), Hybrid

19
Q

Structure that groups staff members according to their area of expertise (sales, marketing,
construction, etc.). Require the project team members to report directly to the functional manager

A

Functional Structure

20
Q

Structure where the PM has the greatest amount of authority. The project team is assigned to the project on a full-time basis. When the project is complete, the project team members moves on to other assignments within the organization.

A

Project Oriented Organizations, (Projectized)

21
Q

Matrix Organizations PM authority

A

There are three matrix structures: weak, balanced, and strong. The different structures are reflective of the project manager’s authority in relation to the functional manager’s authority.

22
Q

Project bosses types

A

Sponsor, Program manager

23
Q

potential events or situations that may occur in the future and have an impact on the project’s success.

24
problems or challenges that arise during the course of a project. They are typically negative events or circumstances that can hinder progress or impact project objectives
Issues
25
statements or beliefs that are considered to be true or valid for the purpose of planning and decision-making
Assumptions
26
limitations or restrictions that affect project planning and execution
Constraints
27
6 project constraints
Scope Schedule Cost Risk Quality Resources
28
5 Areas of a Project
* Resources - Managing the people and material resources * Communications - All stakeholders get the correct information at the right time * Risk - Identifying and responding to risk over the lifecycle of the project * Procurements - Acquiring resources from outside the project team * Stakeholders' engagement - Keeping all stakeholders active and alert on the project
29
Project Management Approaches
Predictive (waterfall) and adaptive (agile)