Section 3 Project Management Terminology Flashcards
What is a project business case?
Answers what is the return on investment (ROI)?
and
Why are we doing this?
-Future Project Management and Decisions and Actions
-Maintained throughout the project
What is the project charter?
The authorization for the project to be completed
Benefits Management Plan?
A document that explains how benefits will be realized and when
What is a Phase Gate?
A check/process before moving to next portion/phase of a project.
What are the decisions in a phase gate
-Remain in Phase
-Continue to the next phase
-Continue with modifications
-Repeat Phase or Elements of it
-End Project
What is the business case determination?
-Organizational strategy goals and obstacles
-Root cause or Contributors of an opportunity
-Known Risks
-Critical Success Factors
-Decision Criteria
Analysis of a situation-
- What is a required to solve the problem
- What is desired to solve the problem
- Do more than the bare minimum
What are the different recommendations for a project
- Do nothing
- Do only as much of the minimum work as possible
- Do more than the minimum
What is a project benefits plan
The documents that define realized benefits.
The document is used to
-Create the project benefit
-Maximize the project value benefits
-Sustain the project benefits
This includes:
-Targeted benefits
-Time Benefits
-Strategic alignment
What is a targeted benefit?
A tangible and intangible benefit
What is a time benefit?
A benefit that is realized over time. By phase, by short or long term
What is a strategic alignment benefit
A project that aligns with the business need
What a metric
A measure of the benefits of a project
What is a risk
The risk of benefit realized
What is an assumption
The factors we expect to be in place
What should be common governance shared among all endeavours?
Rules and Organizational policies
Procedures and Activities
System and processes
Cultural Norms
Frameworks
What is an organizational governance framework?
1.Defines what you can and cannot do in an organization
2.How you operate within a system
3.Framework is the organizational structure
What are the management elements of governance?
-Clear Communication Channels
-Everyone Paid Fairly
-Division of work
-Authority to perform work
-Authorization to perform work
-Responsibility for performing work
-Discipline of action
-Unity of Command
-Unity of Direction
-Optimal use of resources
-The right materials to the right person, right job at the right time
-Clear Security of Positions
-Optimal Use of resources
-Organizational Goals take precedent over Individual goals
What does the PMO do?
They are a resource for PM
-uniform approach to all projects
-Change Control
-Stakeholder Management
-Can help to share resources across all departments
What does the PMO provide?
They provide Organizational Process Assets
-Software
-Training
-Templates
-Standard Project Management Approaches
What is a Supportive PMO?
Acts as a constructive role
PMO control is low
-Projects are similar but not the same.
-They offer advice and supporting documents when needed
-Best Practices
-Forms and Software
-Lessons Learned
What is a directive PMO?
Project Manager control is high!
-When the Project Manager is directly apart of the PMO office.
-Manages and Controls all aspects of the project
What is a Controlling PMO?
-PM Control is low
-Defined project management activities
-The project Manager is not part of the PMO
-Projects are uniform
Documents provided and forms required
What is the role of a project manager to different stakeholders?
-Project reams-Leads and Directs
-Organizational Managers: Work with management to have access to resources
-Project Managment office: Work with the project management office
-Steering committe: report on the project status and progress
How does the PM influence the project?
-Positive attitude
-Communication skills
What influences affect the organization?
-Power Struggles
-Political alliances
-Modes of operations
-Policies
-Underlying culture
-Differing motivators
-Conflicting interests
What do we need to consider when managing social and economic environmental influences?
-The social impact: What is the view of the project from the public perspective
-Enviromental concerns and regulations and the physical location
-Marketplace and the economic conditions
What are the Competency Models?
Unconsciously incompetent —Unaware of a skill that you do not have.
Consciously Incompetent— Aware that you don’t have the skills
Consciously Competent—Learn and practice the skill
Unconsciously Competent—Do the skill without thinking.
Chosen Conscious Competence—Practice and maintain the skill.
What are the three project management values?
Knowledge: understanding project management
Performance: Accomplish as a project manager
Personal: Behavior, Effectiveness, Character, Leadership
What are technical project management skills?
-Critical project success factors
-Schedule management
-Selected financial reports
-Issue log maintenance
-Tailor techniques and methods
-Plan thoroughly and prioritize
-Manage: schedule, cost, resources and risk
What is business knowledge?
-Strategy: Explain essential business aspects of a project
-Team: Work with the project sponsor, team and SMEs
-Value: Implement a strategy to maximize business value.
What are some Project Management and Business skills
-Risks and Issues
-Financial Implications
-Cost-Benefits analysis: net present value, return on investment,
-Business value
-Benefits realization expectations and strategies
-Scope, Budget, Schedule, and quality
What are leadership skills:
-Having a vision
-Optimistic and positive
-Seeking collaboration
-Managing relationships and conflict
-Communicating effectively
-Asking and listening to feedback
-Giving credit to appropriate people
-Action-and results-oriented
Leadership Skills
-Guide: Lead people to results
-Negotiate: Fair and balanced results
-Communicate: 90% of project management
-Think: Critical thinking is a skill
-Motivate: Inspire and direct the project team
-Resilence: Work Through issues
-Solve Problems and quick wins
-Approachable and friendly
What are the six types of leadership?
Transactional
Lasissez Faire
Transformational
Charismatic Leadership
Interactional leadership
What is transactional leadership?
Sometimes called leadership by exception. As in must be exceptional.
Emphasizes the goals of the project and rewards and provides a disincentive for the project team/
This is sometimes called management by exception because it’s the exception that is rewarded or punished.
What is Servant leadership?
Focus on putting others first and the needs of the people they serve.
Servant leaders provide opportunity for growth, education, autonomy with the project, and the well-being of others.
What is Transformational leadership?
Inspiring and motivational
What is Charismatic leadership?
You can do more than you think you can do
What is interactional leadership?
Hybrid. A mix of transactional, Transformational, and charismatic leadership
How do management and leadership differ?
Management is about getting things done and business skills.
Leadership is about aligning and motivating, Leadership is more about emotional intelligence and inspiring people to work together.
What is Laissez-faire leadership?
Hands-off approach to project decisons
Why is it important to understand power and politics in the workplace
Understand how the organization works to be successful
being sensitive and respectful to people
Perception and power
What are the different types of power?
What is positional power?
Power that comes from a certain position. Also known as formal, authoritiave and legitimate power
What is Informational Power?
Control of data gathering and distribution of information. Keeps information to keep power.
What is Referent Power?
Respected or admired because of past experiences. The project team or stakeholders have worked with the project manager before.
What is Situational Power?
Certain organisational situations, such as a change in leadership of change in the project team.
What is Personal or Charismatic Power?
Warm personality that others like. Has a friendly demeanour
What is Reward Power?
Can Reward the project team, so the project team acts accordingly
What is Ingratiating Power?
Gains favour through flattery. False power as this wears down
What is Pressure based Power?
Can restirct choices to get the project team to perform and do the project work
What is Guilt Based Power?
Can make the team and stakeholders feel guilty to gain compliance.
What is Persuasive Power?
Persuade people toward a specific outcome or decision
Avoiding Power
Refuses to act, get involved or make decisions
