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PMP > Project Management Terms > Flashcards

Project Management Terms Flashcards

1
Q

What is Program Management?

A

A coordinated approach to manage a group of related projects to obtain benefits and control not available from managing them individually, focusing on project interdependencies.

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2
Q

What is the role of a Program Manager?

A

A Program Manager oversees individual project managers, managing the coordination of subprojects and ensuring that the overall program achieves its goals.

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3
Q

What are the benefits of Program Management?

A

Management of groups of people, clearer role definitions, and value added by managing related projects together.

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4
Q

What defines a Project?

A

A unique endeavor that is temporary, with a definite beginning and end, producing a product, service, or result.

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5
Q

What does “Progressively Elaborated” mean in project management?

A

As the project progresses, details such as budget estimates and timelines become more precise.

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6
Q

What are some examples of Projects?

A

PRODUCT: Samsung’s project for a new smartphone.

SERVICE: Development of a new bookkeeping system.

RESULT: Testing a theory, such as a drug’s effectiveness.

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7
Q

What is Project Management?

A

The application of knowledge, skills, tools, and techniques to satisfy project requirements, including risk and change management.

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8
Q

What are key components of Project Management?

A

Preparing a business case
Estimating time and resources
Developing and implementing a management plan
Leading and motivating a project team
Managing risks, issues, and changes
Closing the project in a controlled manner

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9
Q

What are the types of PMO?

A

Supportive: Provides support and resources to project managers.

Controlling: Determines frameworks and methodologies for projects.

Directive: Directly controls projects, assigning project managers.

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10
Q

What is a Project Management Office (PMO)?

A

A structure that standardizes processes, facilitates resource sharing, and provides support to project managers, found in medium to large organizations.

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11
Q

What is Portfolio Management?

A

The management of a collection of projects and programs to achieve strategic business objectives, typically over a three to five-year timeframe.

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12
Q

What is Operations Management?

A

Ongoing production of goods and services, including resource acquisition and utilization necessary for delivering those goods/services.

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13
Q

What is the value of a project?

A

The potential benefits upon completion, including revenue generation, cost reduction, brand reputation enhancement, and improved customer service.

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14
Q

How do projects enable changes?

A

They help transition from a current state to a desired state, such as updating products or improving revenue through various strategies.

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15
Q

What defines a Deliverable?

A

A unique and verifiable product, service, or result that must be accepted by the customer or sponsor for a specific project phase.

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16
Q

What are Phases and Deliverables in project management?

A

Phases are stages of related project activities culminating in deliverables, which are unique, verifiable products, services, or results.

17
Q

What is the Project Life Cycle?

A

The phases a project goes through from start to finish, which can be predictive (traditional), adaptive (Agile), or a hybrid of both.

18
Q

What are the three pillars of Project Governance?

A

Structure: Method for making project decisions.

People: Effective management of team members.

Information: Accurate information is essential for decision-making.

19
Q

What is Project Governance?

A

A framework within which project decisions are made, consisting of three pillars: Structure, People, and Information.

20
Q

Who are the key stakeholders in a project?

A

Project Manager: Manages the project.

Customer: Uses the project deliverables.

Project Team: Individuals completing the project work.

Project Sponsor: Provides resources and support.

Functional Manager: Controls departmental resources.

21
Q

What are Stakeholders in project management?

A

Individuals, groups, or organizations that may affect or be affected by the project, which can be positively or negatively impacted.

22
Q

What is a Milestone in project management?

A

A significant event or achievement that marks a key point or completion of a major deliverable in a project (e.g., getting a permit, passing a software testing).

23
Q

Why are Milestones important in project management?

A

They help track progress and ensure that major achievements are implemented throughout the project schedule.

24
Q

What does Task Duration refer to?

A

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

25
Q

What are the roles of a Project Manager?

A

Initiator: Proposes an idea or action.

Negotiator: Engages in discussions to reach agreements.

Listener: Pays attention to team members’ ideas and concerns.

Coach: Guides teams in achieving goals and improving skills.

Working Member: Actively participates in team activities.

Facilitator: Manages group processes and ensures effective communication.

26
Q

What is Project Management?

A

The successful execution and delivery of specific projects within a defined scope, timeline, and budget, focusing on planning, coordinating, and managing activities to achieve project goals.

27
Q

What are the primary responsibilities of Project Management?

A

Ensure projects are completed on time, within budget, and according to specified quality standards.

28
Q

What is Product Management?

A

Encompasses strategic planning, development, and life cycle management of a product or service, aligning it with market needs, business objectives, and customer demands.

29
Q

What does Product Management involve?

A

Understanding market needs, defining product strategy, gathering requirements, overseeing development, launch, and ongoing optimization.

30
Q

What is a Program Manager?

A

A role senior to a Project Manager, responsible for managing several projects simultaneously and resolving conflicts within those projects.

31
Q

What is the role of a Project Sponsor/Project Champion?

A

The boss of the project who provides funding, makes key decisions, and ensures alignment with organizational goals.

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