Sections 4-6: Project Management Terms, Principles, and Domains Flashcards
What are project management principles?
Foundational guidelines for strategy, decision-making, and problem-solving in projects.
What are the four values of the PMI Code of Ethics?
Responsibility, Respect, Fairness, Honesty.
What are the 12 principles of project management?
- Stewardship
- Collaborative Team Environment
- Stakeholder Engagement
- Focus on Value5.
- System Thinking
- Leadership
- Tailoring
- Quality Processes
- Navigating Complexity
- Risk Optimization
- Adaptability
- Enabling Change.
Why is stewardship important in project management?
Ensures integrity, trust, compliance, and a commitment to financial, social, and environmental impacts.
How can project teams create a collaborative environment?
By setting team agreements, defining clear roles, establishing trust, and enabling open communication.
Why is stakeholder engagement crucial?
Stakeholders impact scope, budget, outcomes, and success; engagement ensures alignment and buy-in.
What is systems thinking in project management?
A holistic approach to understanding how different project components interact and influence outcomes.
How does leadership differ from authority in project management?
Leadership involves influence, motivation, and vision, while authority is the formal power to make decisions.
Why is tailoring necessary in project management?
Each project is unique, and tailoring ensures processes fit the project’s specific needs.
How can projects adapt to change effectively?
By incorporating adaptability and resilience, using iterative feedback loops, and fostering continuous learning.
What is a project?
A temporary endeavor that produces a unique product, service, or result.
What is the difference between project, program, and portfolio management?
A project is a single effort, a program is a group of related projects, and a portfolio is a collection of projects and programs.
What is the role of a project manager?
Planning, executing, monitoring, and closing projects while managing risks, changes, and stakeholders.
What are the key project constraints?
Scope, Schedule, Cost, Risk, Quality, and Resources.
What are the key project phases?
Initiation, Planning, Execution, Monitoring & Controlling, and Closing.
Who are key project stakeholders?
Project Manager, Customer, Team, Sponsor, Functional Manager.
What are the two main project management approaches?
Predictive (Waterfall) and Adaptive (Agile).
What is the difference between product and project management?
Product management focuses on the lifecycle of a product, while project management focuses on delivering a specific goal within constraints.
What is a milestone?
A significant event in a project that marks a major achievement or phase completion.
What is the purpose of a Project Management Office (PMO)?
Standardizing processes, providing support, and ensuring governance.
What are project performance domains?
Interdependent areas of focus that work together to achieve project success.
What is the stakeholder performance domain?
Managing relationships and engagement with stakeholders throughout the project.
How can stakeholder engagement be improved?
Identify, Understand, Analyze, Prioritize, Engage, Monitor.
What defines a high-performing project team?
Open communication, trust, collaboration, adaptability, empowerment, and shared ownership.
What is servant leadership in project management?
A leadership style focused on developing and supporting the project team.
What is the development approach and life cycle performance domain?
Selection of appropriate development methods (Predictive, Agile, Hybrid) and structuring the project lifecycle.
What is the planning performance domain?
Ensures the project moves in an organized and deliberate manner while adapting to changes.
* Deliberate
* Holistic
* Evolving
* Time spent is appropriate
* Planning is sufficient to manage expectations
* Adaptation process included
* Physical resources apply to any resource that is not a person
* Procurements can happen at any time during a project
* Thre will be changes throughout
* Some changes are a result of risk assessment
What is the project work performance domain?
Managing project activities, resources, and learning processes efficiently.
*Efficient and effective project performance
* Project processes are suitable for the project and enviornment
* Appropriate communications with stakeholders
* Efficient management of physical resources
* Effective management of procurements
* Improved team capability due to continuous learning and process improvement
Define and balance constraints
* Budget
* Timeline
* Resources
* Outcomes
How does project delivery impact success?
Ensuring scope and quality expectations are met and stakeholders are satisfied.
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What is the measurement performance domain?
Monitoring project progress using KPIs, dashboards, and metrics.
What is the uncertainty performance domain?
Identifying and managing risks, ambiguity, complexity, and volatility to keep the project aligned with objectives.
