Projects and Project Management Flashcards
What are Projects?
A temporary endeavor undertaken to create a unique product, service, or result.
What is Project Management?
Uses specific knowledge, skills, tools, and technique to deliver valuable projects.
How do Project Managers effectively help achieve the desired goal?
Project managers make sure that all the tasks, activities, and people involved in the project are working together effectively to achieve the desire goal.
How does Project Management help businesses and team members within the project?
By setting clear goals, managing resources like time and money, address any risks or problem that may come up.
How can Project Management help team members?
By helping them to understand their roles and responsibilities, to collaborate with one another and communicate effectively with stakeholders.
What are the six types of Constraints when working on a Project?
Scope, Quality, Cost, Time, Risk, & Benefits
How do you describe Project Managers?
The people responsible for organizing and coordinating all the different elements of a project.
What’s the main goal of Project Managers?
Their main goal is to ensure that the project is completed successfully, on time, and within budget.
What is a Program?
Is a collection of projects that is large, long-term, general, and strategic.
Ex: A marketing program may include various projects like social media, digital, and print advertising, all promoting a single product.
What’s a portfolio?
A collection of programs and projects that help an organization achieve its long-term goals.
Ex: All the projects and programs that concern the product.
Can you explain the main differences between a project, a program, and a portfolio in project management?
Project: Unique, start and end, with measurable valuable for stakeholders satisfaction.
Program: Similar projects managed as a group.
Portfolio: A collection of programs and projects within an organization, helping it achieve long-term objectives.
What are the four traits of a Program?
Large - Incorporates multiple projects in a wide scope.
Long-term - Longevity is needed for business to see the benefit of multiple projects.
General - Able to encompass a range of projects.
Strategic - Serving the overall strategic goals of an organization instead of a single project.
What’s the difference between a Project, Program, and Portfolio Manager?
Project Manager: Ensures project works within its constraints.
Program Manager: Ensures a larger group of projects are being completed.
Portfolio: Ensures delivery of potentially unrelated programs and their alignment with organizational strategy.
What’s the Purpose of a project?
Achieve an objective and produce measurable value
What’s the purpose of Project Management?
Control how project goals are achieved.
Why is project reporting needed?
To communicate the project’s status to the team and stakeholders.
