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Project Management > Study Cards - Chapter 2 > Flashcards

Study Cards - Chapter 2 Flashcards

0
Q

What are the five process groups

A

Initiating, Planning, Executing, Monitoring and Controlling, and Closing

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1
Q

Project Management is

A

The application of knowledge, skills, tools and techniques to project activities to meet project requirements

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2
Q

Process Groups are not…

A

Project phases

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3
Q

Project Constraints are…

A

Limiting factors that set boundaries for the project.

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4
Q

What are the six areas of constraints

A

Schedule, budget, scope, quality, resources, risk

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5
Q

All constraints have an impact on…

A

Customer satisfaction

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6
Q

The project manager is…

A

Assigned by the organization to achieve project objectives by applying the correct tools and techniques.

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7
Q

Three key characteristics of a project manager are…

A

Knowledge, performance, personal

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8
Q

What are four key characteristics of a project?

A
  • Time-scoped activity
  • Has a beginning, middle and end
  • Creates a unique product, service or result
  • A ‘progressive elaboration’
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9
Q

What are three key characteristics of operations?

A
  • Endures for the lifetime of the product, process or service
  • Can be incrementally improved or enhanced
  • Enhancements are typically done as a series of small projects
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10
Q

A project is…

A

A temporary endeavor undertaken to create a unique product, service, or result.

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11
Q

Projects are similar to operations in that…

A
  • Both are performed by individuals
  • Both are subject to constraints
  • Both are planned, executed, and controlled
  • Both are designed to meet organizational/strategic objectives
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12
Q

The key differences between projects and operations are…

A

Timeline

  • Projects end at some point
  • Operations continue for the product lifetime

Predictability

  • Projects may contain unknown and unpredictable elements
  • Operational elements are both known and predictable

Risk

  • Project continually evaluate risk
  • Operations are designed to minimize or eliminate risk
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13
Q

A program is…

A

A group of related projects managed in a coordinated way.

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14
Q

A portfolio is…

A

A collection of projects, programs and other work that may not be directly related, but have been grouped to meet strategic business objectives.

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15
Q

A subproject is…

A

A smaller project of an overall project.

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16
Q

The purpose of the PMO is to…

A

Centralize the management of projects across the organization.

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17
Q

Typically a PMO provides…

A
  • OPAs for managing projects
  • Guidance and training on project management
  • Resource pool of project managers
18
Q

The PMO may also play these roles…

A
  • Audit Projects against PMO standards
  • Provide Resources for project
  • Cancel Projects
  • Provide Templates and forms
  • Offer Coaching and training for Project Managers
  • Centralize Communication for projects
  • Manage Dependencies between projects
  • Function as a stakeholder
19
Q

The project life cycle is…

A

Frequently Unique. They vary as much as the industries they serve.

20
Q

The phase-end review achieves…

A
  • Authorization to close the current project or phase

- Authorization to initiate the subsequent project or phase

21
Q

The three fundamental phase-to-phase relationships are…

A

Sequential, Overlapping, Iterative

22
Q

Sequential relationships are…

A

The typical finish-to-start relationship.

23
Q

Overlapping relationships can…

A

Increase risk and rework, but allow for schedule compression.

24
Q

Iterative relationships can…

A

Allow for progressive elaboration while sequentially delivering the highest priority features. (Agile)

25
Q

The Project Management life cycle is…

A

Unchanging. They always consist of the five process groups (IPECC).

26
Q

The five project management process groups will always be…

A

Executed within each phase of your project.

27
Q

Lessons Learned is…

A

A process that is applied at the completion of every phase of a project.

28
Q

The product life-cycle…

A

Endures for the life of the product

29
Q

A product is…

A

What is created as a result of executing a project.

30
Q

A stakeholder is…

A
  • Anyone who is positively or negatively impacted by the project
  • Anyone who can exert influence over the project
31
Q

The project manager should do this for stakeholders…

A
  • Identify them all to ensure that they are engaged

- Balance their needs while delivering the project’s product.

32
Q

The three fundamental organizational structures are…

A
  • Functional
  • Matrix (weak, balanced, strong)
  • Projectized
33
Q

A composite organization…

A

Uses a combination of organizational structures (functional, matrixed, projectized)

34
Q

Some advantages and disadvantages of a functional organization include…

A
  • Expertise with clearly defined career paths

- Project manager has little authority on the project

35
Q

A tight matrix means…

A

Project resources are co-located in the same room.

36
Q

Some advantages and disadvantages of a matrixed organization include…

A
  • Increased control by project manager

- Multiple bosses adds complexity

37
Q

Some advantages and disadvantages of a projectized organization include…

A
  • Project loyalty

- Job is gone once the project is complete

38
Q

For the purpose of the exam you are…

A

A project manager in a strong matrix environment with control over the project budget.

39
Q

MBO is…

A
  • Management by Objectives
  • A term that was introduced by Peter Drucker
  • Will only work if it is supported by management
40
Q

OPM3 is…

A
  • Organizational Project Management Maturity Model
  • Based on CMMI (Capability Maturity Model Integration)
  • Helps organizations determine their level of PM maturity
41
Q

Progressive Elaboration is…

A
  • Key to the entire PMI framework
  • More important for project success when unknowns are greater
  • States that you cannot definitively estimate timeline and budget at the start of a project
42
Q

The triple constraint model addresses…

It may also be influenced by…

A
  • Time, cost and scope

- Quality and risk

43
Q

Who can authorize changes to the triple constraints of a project?

A

Senior management.

Project Management (28 decks)

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