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Project Management > Project MGMT Chapter 1 - Winter 2013 > Flashcards

Project MGMT Chapter 1 - Winter 2013 Flashcards

1
Q

Best Practice

A

An optimal way recognized by industry to achieve a stated goal or objective

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2
Q

Critical Path

A

The longest path through a network diagram that determines the earliest completion of a project

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3
Q

Enterprise or portfolio project management software

A

Software that integrates information from multiple projects to show the status of active, approved, and future projects across an entire organization

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4
Q

Program

A

A group of projects managed in a coordinated way to obtain benefits and control not available from managing them individually

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5
Q

Program manager

A

A person who provides leadership and direction for the project managers evading the projects within the program

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6
Q

Project

A

A temporary endeavour undertaken to create a unique product, service, or result

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7
Q

Project manager

A

The person responsible for working with the project sponsor, the project team, and the other people involved in a project to meet expected goals

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8
Q

Project Management Institute (PMI)

A

International professional society for project managers

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9
Q

Project management knowledge areas

A

Project integration management
4 core knowledges; Scope,Time,Cost,Quality
4 faciliating knowledge; Human resource, Communications, Risk, Procurement management

  • 1 knowledge area (PROJECT INTEGRATION MANAGEMENT) affects and is affected by all the other knowledge areas
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10
Q

Project Management Office (PMO)

A

An organizational group responsible for coordinating the project management functions throughout an organization

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11
Q

Project Management Professional (PMP)

A

Certification provided by PMI that requires documenting project experience and education, agreeing to follow the PMI code of ethics, and passing a comprehensive exam

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12
Q

Project management tools and techniques

A

Methods available to assist project managers and their teams; some popular tools in the time management knowledge area include Gantt charts, network diagrams, and critical path analysis

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13
Q

Project portfolio management

A

When organizations group and manage projects as a portfolio of investments that contribute to the entire enterprise’s success

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14
Q

Project sponsor

A

The person who provides the direction and funding for a project

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15
Q

Stakeholders

A

People involved in or affected by project activities

Project sponsor 
Project manager
Project team
Support staff
The suppliers
Opponents
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16
Q

Triple constraint

A

Balancing scope, time, and cost goals

17
Q

Project Attributes

A

A project has a unique purpose
A project is temporary
A project is developed using progressive elaboration
A project requires resources, often from various areas
A project should have a primary customer or sponsor
A project involves uncertainty

18
Q

Scope

A

Involves defining and managing all the work required to complete the project successfully

19
Q

Project human resource management

A

Is concerned with making effective use of the people involved with the project

20
Q

Project communication management

A

Involves generating, collecting, disseminating, and storing project information

21
Q

Project risk management

A

Includes identifying, analyzing, and responding to risks related to the project

22
Q

Project procurement management

A

Involves acquiring or procuring goods and services for a project from outside the performing organization

23
Q

Project success

A

The project met scope time and cost goals
The project satisfied the customers/sponsor
The results of the project met its main objective such as making or receiving a certain amount of money providing a good return on investment or simply making the sponsors happy

24
Q

What helps projects succeed

A
  1. executive support
  2. user involvement
  3. experienced project manager
  4. clear business objectives
  5. Minimized scope
  6. Standard software infrastructure
  7. Firm basic requirements
  8. Formal Methodology
  9. Reliable estimates
  10. Other criteria such as small milestones proper planning competent staff and ownership
25
Q

For best practices used by the winners

A

1 Use an integrated toolbox
2 Grow project leaders
3 develop a streamlined project delivery process

26
Q

Tactical goals examples

A

1 are we carrying out projects well
2 are projects on time and on budget
3 do project stakeholders know what they should be doing

27
Q

Strategic goals examples

A

1 are we working on the right projects
2 are we investing in the right areas
3 do we have the right resources to be competitive

28
Q

Two basic principles to follow according to Robert Butrick

A

Make sure your projects are driven by your strategy. be able to demonstrate how each project to undertake fits your business strategy, and screen out Unwanted projects as soon as possible

Engage stakeholders. ignoring stakeholders often leads to project failure. be sure to engage stakeholders at all stages of a project and encourage teamwork and commitment at all times.

29
Q

Basic IT project portfolio categories

A

Venture; projects in this category would help transform the business.
Growth: projects in this category would help the company grow in terms of revenues
Core: projects in this category must be accomplished to run the business

30
Q

10 most important skills and competencies for project managers

A 
1 people skills
 2 leadership
 3 listening
 4 integrity ethical behavior and consistent
5 strong at building trust 
6 verbal communication
 7 strong at building teams 
8 conflict resolution, conflict management 
9 critical thinking, problem-solving 
10 understands, balances priorities
31
Q

Skills most important for large projects

A

Leadership, relevant prior experience, planning, people skills, verbal communication, and team building skills

32
Q

Skills most important for high uncertainty projects

A

Risk-management, expectation management, leadership, people skills, and planning skills

33
Q

Skills most important for very Novel projects

A

Leadership, people skills, having vision and goals, self-confidence, expectations management, and listening skills

34
Q

Operations is

A

Work done to sustain the business

35
Q

When does a project end?

A

when their objectives have been reached or the project has been terminated

36
Q

Advantages of Using Formal Project Management

A
  • Better control of financial, physical, and human resources
  • improved customer relations
  • shorter development times
  • lower costs
  • Higher quality and increased reliability
  • higher profit margins
  • improved productivity
  • Better internal coordination
  • higher worker morale

Project Management (6 decks)

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