Section 2: Project Management Basics Flashcards
NOT DONE
What is the definition of a project?
A project is temporary and has a beginning and an end. It creates something unique, such as a product, service, or result.
Projects are distinct from operations, which are ongoing and repetitive tasks.
What are the two main characteristics of a project?
- Temporary nature (has a start and end date)
- Creates something unique
Examples of unique creations include buildings, websites, or applications.
Why do we initiate projects?
Projects are initiated due to market demand, customer requests, business needs, or to provide business value.
Business value can include environmental considerations, legal requirements, social needs, or technological advances.
Fill in the blank: A project must provide some _______.
[business value]
What is a program?
A program is a group of related projects that are managed together to improve coordination and achieve strategic objectives.
For example, multiple hospital construction projects in different states can be grouped into a program.
What is a portfolio?
A portfolio consists of projects, programs, and sometimes operations that share the same strategic goal of the company, regardless of whether they are directly related.
Examples include hospital projects, factory constructions, and software development aimed at the same strategic objective.
True or False: A portfolio must consist of projects only.
False
A portfolio may include projects, programs, and operations.
What is one reason to initiate a project based on customer interaction?
A project may be initiated at customer request, either from existing or new customers.
For example, a customer may request software development for specific machinery.
What is an example of an operation?
Manufacturing health equipment is an example of an operation.
Operations are ongoing tasks, unlike projects which are temporary.
Fill in the blank: The main reason to start a project is to cause a _______ change in the organization.
[positive]
List some outcomes that provide business value from projects.
- Increasing revenue
- Increasing company prestige
- Improving products or services
- Satisfying legal requirements
These outcomes demonstrate the positive impact projects can have on an organization.
What is project management?
The application of knowledge, skills, tools, and techniques to project activities to meet project requirements
Project management is crucial for achieving project success.
What are the key requirements for completing a project?
Projects need to meet:
* Budget
* Time
* Scope requirements
* Quality standards
These requirements are essential for the success of any project.
True or False: Project management is not important for project success.
False
Efficient project management directly influences the success of a project.
What is one aim of conducting a project?
To deliver desired outcomes in the desired duration
This involves ensuring that the project team understands the requirements clearly.
Fill in the blank: The success of a project is directly related to _______.
[efficient project management]
Effective project management helps in achieving project requirements.
What is the purpose of holding interviews with stakeholders?
To understand whether they are satisfied with the results or not
Stakeholder satisfaction is a key indicator of project success.
What can hinder achieving desired outcomes in projects?
Factors such as:
* Developing unknown technology
* Rival companies introducing similar products
These challenges can lead to unsatisfactory results despite project completion.
What is the benefit of applying effective project management?
It increases the chance of delivering the desired outcome
Effective management can mitigate risks associated with project challenges.
What methods does project management use to achieve success?
Tools and techniques
These methods are essential for project managers to deliver successful outcomes.
What knowledge and skills are necessary for a project manager?
Knowledge and skills to use project management tools and techniques
These competencies are crucial for effective project management.
What will be discussed in the following lecture?
Program and portfolio management
This will build on the concepts of project management.
What is an example of a requirement in a construction project?
Constructing floors and walls, installing windows and doors
These are part of the scope requirements in construction projects.
What is a potential outcome if stakeholders are not satisfied?
It indicates a need to take action accordingly
Addressing stakeholder concerns is vital for project success.
How long is the example construction project expected to take?
Two years
Meeting deadlines is a critical aspect of project management.
What is the budget example given for the construction project?
$1 million
Budget constraints are a common requirement in project management.
What does a program consist of?
Projects which are related to each other
What is the primary focus of program management?
Coordinating and managing related projects
What can result from projects sharing the same stakeholders and resources?
Conflict within the organization
What are some benefits of program management?
- Preventing conflicts
- Decreasing risk
- Achieving economies of scale
- Providing better coordination between projects
Is program management always necessary?
No, it is needed only if it adds value
What is the role of a program manager?
Focuses on additional values in program management
What does a portfolio consist of?
Programs, projects, and sometimes operations with the same strategic objective
What can conducting portfolio management activities achieve?
- Reducing risks
- Better managing resources
- Better managing stakeholders
Is portfolio management always necessary?
No, it is needed only if it adds value
What is the relationship between project management and program management?
Project management manages each project, while program management coordinates related projects
Fill in the blank: Program management focuses on _______.
Coordinating and managing projects which are related to each other
Fill in the blank: Portfolio management activities aim to achieve organizational _______.
Success
What is the definition of an operation?
An operation is ongoing work that produces the same thing repeatedly.
Operations are characterized by their continuous nature, unlike projects which are temporary.
What is the main difference between an operation and a project?
The main difference is that operations are ongoing, while projects are temporary and have deadlines.
This distinction is crucial for understanding project management concepts.
How are operations and projects related?
Operations and projects may be related; one may come after the other or one may cause the other.
For example, completing a factory construction project leads to the operational work of manufacturing products.
Fill in the blank: An operation is ______ work.
ongoing
Fill in the blank: A project is ______ and has to be completed.
temporary
Provide an example of an operation.
Manufacturing products on a production line.
This process involves producing the same items repeatedly.
Provide an example of how an operation can cause a project.
Manufacturing issues lead to starting a software project for better order management.
The operational problem necessitates the project to improve efficiency.
True or False: Projects have an ongoing nature.
False
Projects are defined by their temporary nature and deadlines.
What will be discussed in the following lecture?
What a project management office is.
This indicates a progression in the learning of project management concepts.
What does PMO stand for?
Project Management Office
What is the primary function of a Project Management Office?
Provides, shares, and maintains standards and procedures to manage projects
How can PMOs be classified?
Supportive, controlling, and directive
Describe a supportive PMO.
Recommends and provides standards, procedures, and project documents; has the least authority
What is the main responsibility of a controlling PMO?
Supports projects and has some control, such as determining software to be used
True or False: Controlling PMOs manage projects directly.
False
What distinguishes a directive PMO from other types?
Directly manages projects and is responsible for their success
Which type of PMO has the highest authority?
Directive PMO
Fill in the blank: The _______ PMO has the lowest authority.
Supportive
Fill in the blank: The _______ PMO has moderate authority.
Controlling
What should you assume about organizations mentioned in exam questions regarding PMOs?
Always assume they have a PMO
What should you do when reading exam questions about PMOs?
Read carefully to determine the type of PMO
What types of documents might a supportive PMO provide?
Templates, lessons learned, and other project documents
Which PMO type is responsible for providing project managers?
Directive PMO
What is the role of a controlling PMO in project coordination?
May prioritize and coordinate projects among the organization
What does organizational project management (OPM) provide guidance for?
All organizational works
OPM includes project management, program management, operation management, and portfolio management.
What is the purpose of the strategic framework defined by OPM?
To achieve the company’s strategic goals
In the context of organizational project management, what does organizational governance aim to meet?
High level strategic goals
What should a high level roadmap include to meet strategic goals?
Procedures, standards, and policies
What does project governance provide to the project team?
Policies, processes, decision making models, and tools
What is the main job of the Project Management Office (PMO)?
To provide support and guidance for managing projects
True or False: Organizational governance ensures all work is done according to established procedures, standards, and policies.
True
Fill in the blank: Organizational project management refers to the approach or framework that an organization adopts to manage its projects, programs, or _______.
Portfolios
What role does organizational governance play within an organization?
Shapes and guides the behavior of individuals
How does project governance ensure projects align with organizational goals?
By administering projects according to established procedures
What is the relationship between Project Management Office and project governance?
PMO may provide and execute project governance
What is the definition of a Project Management Office (PMO)?
A department or group that provides, shares, and maintains project management procedures
What does OPM stand for?
Organizational Project Management
What is the focus of organizational project management?
Aligning project-related activities with the organization’s strategic goals
What is project governance’s relationship to organizational governance?
Project governance operates at the project level, while organizational governance operates at the organizational level
What does the overall structure of an organization depend on?
The high level roadmap
Fill in the blank: The project management office is considered the go-to ______ for managing projects.
Experts
What is the primary focus of the roadmap in organizational governance?
To ensure work is conducted according to policies and procedures
What are the main categories of organizational structures?
Organic, functional, multi-divisional, matrix, project-oriented, virtual, hybrid, PMO
The matrix can be further divided into strong matrix, weak matrix, and balanced matrix.
What is the most common organization type?
Functional organization
Functional organizations have functional managers who have most of the power to manage projects.
Who are functional managers?
Department heads such as marketing manager, cost control manager, sales manager
They have departmental responsibility for different projects.
How do requests flow in a functional organization?
Employees transmit requests to their functional managers, who then transmit to other departments’ functional managers.
What characterizes a project-oriented organizational structure?
Project managers are responsible for almost everything in their projects.
In which type of organization does the project manager have the most authority?
Project-oriented organization
In project-oriented structures, project managers manage budgets and resources.
What is a matrix structure?
A mixed type of organizational structure combining functional and project-oriented characteristics.
What defines a weak matrix?
Closer to functional structure
Project manager authority is limited in a weak matrix.
What defines a strong matrix?
Closer to project-oriented structure
Project manager authority is high in a strong matrix.
What is the authority structure in a balanced matrix?
Roles are balanced between project managers and functional managers.
What happens to the project manager’s responsibility in a strong matrix?
Increases for managing the project budget.
What is a characteristic of resource availability in project-oriented projects?
Resource availability is highest for project-oriented projects.
What is the simplest type of organizational structure?
Simple or organic structure.
What does a multi-divisional structure resemble?
Functional structure but is less centralized.
What is a virtual organization?
An organization where communication is done virtually and work is outsourced.
What is the role of a PMO?
Similar to project-oriented structure with full-time project manager and staff.
What defines a hybrid organizational structure?
A mix of other types with project characteristics varying according to project needs.
In which type does the project manager have the least authority?
Simple organizational structure.
In a predictive environment, what type of matrix is usually assumed?
Strong matrix.
In an adaptive environment, what types of matrix might be expected?
Balanced matrix or virtual.
Fill in the blank: The authority of the project manager _______ from functional to project-oriented organizations.
increases.
True or False: In a functional organization, project managers work full-time on projects.
False.
What are the three major organizational structure types?
Functional, matrix, and project oriented organizations
These structures define how teams are organized and how authority is distributed.
In functional organizations, what is the project manager’s authority level?
Less authority
Team members work on different projects, leading to lower project ownership.
What is a disadvantage of functional organizations regarding team members’ specialization?
Limited opportunity for specialization in project management
Team members often perform the same tasks daily.
How does working on different projects simultaneously benefit team members in functional organizations?
Easier to specialize in a subject
For example, a cost controller can handle various projects, enhancing their expertise.
What is the reporting structure in functional organizations?
Team members report to a single executive
This centralization simplifies management for executives and employees.
What is a key characteristic of matrix organizations?
Complex structure
This complexity makes management and resource assignment challenging.
In matrix organizations, how many executives may employees report to?
More than one executive
This can lead to conflicts among team members.
Compared to functional organizations, what advantage does a project manager have in matrix organizations?
More authority
Project managers can manage resources better.
What is the clarity of project objectives in matrix organizations compared to functional structures?
Clearer project objectives
This helps in aligning team efforts towards specific goals.
What is a defining characteristic of project-oriented structures?
Team members are project based and temporary
They are dismissed after project completion.
What challenge do team members face regarding specialization in project-oriented structures?
Hard to specialize in a subject
Team members may change roles frequently between projects.
What is the management challenge in project-oriented structures due to resource allocation?
Resources are not centralized
This complicates management for executives at the head office.
In project-oriented structures, what is the project manager’s authority level compared to other organizational types?
Highest authority
This allows for better administration and team communication.
What is the sense of belonging like for team members in project-oriented structures?
High sense of belonging
Team members are dedicated to a single project.
Who is the project manager?
The project manager is the one who manages projects to add value to the organization by achieving the project goals.
What is the primary purpose of existence of the project manager?
To achieve the project goals.
What are examples of project goals?
- Completing the project within the budget
- Completing the project on time
What do project managers spend most of their time on?
Communication for coordination within the project.
When should project managers involve themselves in the project?
As early as possible, ideally from the initiation or before the initiation.
What is the role of a project manager after project completion?
To work as an advisor for ongoing or future similar projects.
Is it the project manager’s responsibility to create the project charter?
No, the project manager only helps to create it.
What is the project charter?
A formal document that authorizes the project manager and the project team to execute the project tasks.
What do high-level requirements indicate?
They are not detailed; they are general. Term “high-level” is used a lot
What is a key characteristic of project managers regarding problems?
They are proactive and spend most of their time preventing problems.
What skills do project managers use while developing their teams?
Leadership skills. Need to be proactive to not solve problems but to prevent them
What do project managers lead their teams to create?
- The budget
- The schedule of the project
What do project managers monitor and control?
- The budget
- The schedule of the project
What do project managers deal with regarding changes?
Change requests and managing the change control board.
What ethical qualities must project managers maintain?
They need to be honest and ethical.
Is a project manager required to be a technical expert?
No, a project manager may not be a technical expert.
True or False: Project managers are responsible for almost everything about the project.
True
What is the significance of the list of roles for project managers?
You need to know the role of the project manager very well for the exam.
In some stakeholder roles, in what environment of project creation are they in?
Predictive, some adaptive.
What is a stakeholder?
A stakeholder is anyone who is related to the project.
How can stakeholders affect the project?
They can either affect the project or be affected by the project.
In what manner can stakeholders affect a project?
Both positively or negatively.
What is an example of a stakeholder?
Examples include:
* Team members
* Project manager
* Customer
* Functional managers
* Project sponsor
* Subcontractors
True or False: Only the project manager is considered a stakeholder.
False.
Fill in the blank: A stakeholder can be anyone who _______ the project or is _______ by the project.
[affects], [affected]
What is the definition of a project sponsor (Initiator)?
The project sponsor is the one who provides finance for the project and supports it while preventing unnecessary changes. (Or your boss)
Who can serve as a project sponsor?
The project sponsor can be your boss, senior management in an organization, or someone outside the organization.
Fill in the blank: The project sponsor finances the project and has the right to tell the team what to do and how to do it, based on _______.
[high level requirements]
What is the business case?
The business case is a business document that explains the business need for the project and answers why the project is selected.
What does the project sponsor do after the project charter is created?
The project sponsor signs the project charter, thereby issuing it.
True or False: The project sponsor is solely responsible for managing the project.
False
What role does the project sponsor play in terms of project management plans?
The project sponsor approves the project management plan, but other key stakeholders may also sign it.
What type of risks does the project sponsor manage?
The project sponsor manages high level risks.
Who accepts the deliverables formally during project closure if the sponsor is the customer?
The customer accepts the deliverables formally.
What are some responsibilities of the project sponsor? List at least three.
- Finances the project
- Provides support for the project
- Prevents unnecessary changes
Fill in the blank: The project sponsor prioritizes the constraints of the project and the _______ within the organization.
[projects]
What is the relationship between the project sponsor and the project manager regarding project monitoring?
The project sponsor monitors the progress against the baseline and works with the project manager.
What does the project sponsor authorize regarding changes?
The project sponsor authorizes the change control board and decides on changes.
What is the key milestone and project deadline determined by?
The project sponsor may determine the key milestones and the project deadline.
Fill in the blank: The project sponsor takes part in the development of the _______.
[business case]
What is the primary function of the project team?
The project work is conducted by the project team.
The project team is responsible for planning, executing, and monitoring the project.
What are the main tasks performed by project team members?
They plan, execute, monitor, and control the project.
This includes preparing schedules, budgets, and progress reports.
During which phases can some team members work?
During the initiation and the closing phases.
Team members may be involved at various stages of the project.
What do project team members prepare as part of their responsibilities?
They prepare the project schedule and budget.
This involves creating the work breakdown structure and identifying dependencies.
Fill in the blank: Project team members identify the _______ and constraints.
dependencies
Identifying dependencies is crucial for project planning.
What documents do project team members prepare?
Contracts and progress payments.
They also suggest and implement approved changes to the project.
What type of reports do project team members prepare?
Progress reports.
These reports help in monitoring the project’s status.
How do project team members contribute to project monitoring?
They update the project schedule and project budget.
Monitoring involves controlling the work on site.
True or False: Project team members may share some roles of the project manager.
True.
In some cases, project team members may take on responsibilities typically held by the project manager.
What is the difference between a project team and a project management team?
The project management team is responsible only for project management work, while the project team is more general.
In small projects, the project team may perform the roles of the project management team.
In small projects, who performs the roles of the project management team?
The project team.
This indicates that smaller projects may lack a separate management team.
What is the role of a functional manager?
The role of a functional manager includes overseeing a department and managing resources for various projects.
Examples of functional managers include marketing manager, cost control manager, sales manager, and IT manager.
What types of resources do functional managers manage?
Functional managers manage:
* Human resources
* Physical resources
They may manage both types of resources depending on the project requirements.
How do functional managers motivate their teams?
Functional managers motivate their teams by participating in rewards and recognition activities.
This engagement helps to foster team morale and productivity.
What is the Change Control Board?
The Change Control Board is a group that functional managers often participate in, where they suggest changes to the project.
This board typically assesses and approves changes to the project’s scope.
True or False: Functional managers are the only ones who identify project risks.
False
Functional managers participate in risk identification activities but are not the only ones responsible for it.
What may a functional manager approve regarding project management?
A functional manager may approve:
* Project schedule
* Project management plan
Approval depends on the organizational structure and the manager’s power over resources.
Fill in the blank: A functional manager is a _______ who is the head of a department.
[subject matter expert]
What is the primary responsibility of a program manager?
A program manager manages a group of related projects.
A program is defined as a group of related projects.
What does a program manager ensure regarding project management?
Ensures each project is managed according to the organization’s business strategy.
Who does the program manager support and lead?
Supports and leads the project managers of the related projects.
What is the goal of a program manager?
To achieve the strategic goals of the organization.
What does a portfolio manager manage?
Manages the portfolio, which may include programs, projects, and sometimes operations.
What level of management is the portfolio manager associated with?
Executive level management.
What does a portfolio manager provide between programs, projects, and operations?
Provides coordination whenever it is needed.
Who does the portfolio manager support and lead?
Supports and leads project managers, program managers, and operation managers.
What is the goal of a portfolio manager?
To achieve the strategic goals of the organization.
Fill in the blank: A portfolio may include _______.
[programs, projects, and sometimes operations]
True or False: A program manager only manages a single project.
False.
What are the two concepts discussed in the lecture?
The project life cycle and the project management processes
These terms are fundamental to understanding project execution.
What is the first phase in the project life cycle?
Feasibility phase
This phase determines whether the project is worth starting.
What follows the feasibility phase in the project life cycle?
Planning activities
Planning includes scheduling design and construction work.
What is the purpose of the design phase in the project life cycle?
To draw what will be constructed
This phase involves creating architectural plans.
What is the final phase of the project life cycle for a construction project?
Delivery of apartments to the customer
This marks the completion of the project.
What might be different in the project life cycle for an IT project?
Research, design, code, test, and transition
Different industries have different phases.
What are the five process groups in project management?
- Initiating
- Planning
- Executing
- Monitoring and Controlling
- Closing
These groups are consistent across all project types.
In managing a large project, how should each phase be treated?
As a separate project
This approach allows for better management.
What do the green boxes between project phases represent?
Phase gates
These gates evaluate whether to continue to the next phase.
What happens after the feasibility phase evaluation?
The organization may decide to continue or cancel the project
If feasible, the planning phase begins; otherwise, the project may be terminated.
What characterizes a predictive life cycle?
Work is planned in detail at the very beginning of the project
This approach is also known as the waterfall or traditional lifecycle.
What is a release plan in an adaptive life cycle?
A plan for what will be released after iterations
It focuses on delivering parts of the project incrementally.
What is an iteration in project management?
A cycle that consists of some features of the final product
Each iteration results in a working part of the project.
What is the final product in the website development example?
A commercial website
The project aims to develop this website incrementally.
What is a hybrid development life cycle?
A combination of predictive and adaptive life cycles
It uses predictive methods for well-defined parts and adaptive methods for less defined parts.
What is a release?
The working part of the project which will be given to the customer
What is an adaptive lifecycle?
Instead of creating a fully detailed plan, we create an undetailed plan.
