Section 7 Flashcards
What is IT governance
the system of processes that ensures the effective and efficient use of IT to enable an organization to achieve its business goals and to add value to key stakeholders in an organization
What are the 4 phases of the project management life cycle
initiation, planning, execution, and closure.
What happens in the project initiation phase of the PM life cycle
usually begins with a business case followed by a feasibility study. stakeholders provide input in the analysis of the business case and feasibility study which results in a initiation document that outlines the business needs, the stakeholders, and the business case
What happens in the project planning phase of the PM life cycle
This phase starts with setting the project goals, commonly using the SMART or CLEAR frameworks and defines the project scope and drafts a PM plan
What happens in the project execution phase of the PM life cycle
Tasks typically include developing the project team, assigning resources, setting up tracking systems, conducting status meetings, and monitoring the project timetable. Performance is constantly monitored.
What happens in the project closure phase of the PM life cycle
project is declared complete and the project team is dissolved.
What are risks in execution during PM
typically revolve around budget, people, technology, equipment, and stakeholder support.
What are risks of integration after a project is completed
the project is not successfully integrated into employee workflow
Scope creep - PM
uncontrolled change of a project’s scope, typically adding tasks and increased, unplanned costs to the project
Budget risk - PM
budget control issues, such as underestimated or improper allocation of cost
Resistance to change - PM
departments and individuals resist organizational changes resulting from the project
Resource risk - PM
inability to secure sufficient resources for the project
Contract risk - PM
a vendor fails to deliver on contractual obligations
Project dependencies - PM
especially when completion of some tasks is dependent on the completion of other tasks
Project assumptions risk - PM
when assumptions about the project are invalidated during project development
Benefit shortfall - PM
the project meets the requirements but delivers fewer benefits than outlined in the business case
Requirements quality risk - PM
requirements have not been properly validated or documented