Study Cards - Chapter 2 Flashcards
What are the five process groups
Initiating, Planning, Executing, Monitoring and Controlling, and Closing
Project Management is
The application of knowledge, skills, tools and techniques to project activities to meet project requirements
Process Groups are not…
Project phases
Project Constraints are…
Limiting factors that set boundaries for the project.
What are the six areas of constraints
Schedule, budget, scope, quality, resources, risk
All constraints have an impact on…
Customer satisfaction
The project manager is…
Assigned by the organization to achieve project objectives by applying the correct tools and techniques.
Three key characteristics of a project manager are…
Knowledge, performance, personal
What are four key characteristics of a project?
- Time-scoped activity
- Has a beginning, middle and end
- Creates a unique product, service or result
- A ‘progressive elaboration’
What are three key characteristics of operations?
- 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
A project is…
A temporary endeavor undertaken to create a unique product, service, or result.
Projects are similar to operations in that…
- Both are performed by individuals
- Both are subject to constraints
- Both are planned, executed, and controlled
- Both are designed to meet organizational/strategic objectives
The key differences between projects and operations are…
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
A program is…
A group of related projects managed in a coordinated way.
A portfolio is…
A collection of projects, programs and other work that may not be directly related, but have been grouped to meet strategic business objectives.
A subproject is…
A smaller project of an overall project.
The purpose of the PMO is to…
Centralize the management of projects across the organization.
Typically a PMO provides…
- OPAs for managing projects
- Guidance and training on project management
- Resource pool of project managers
The PMO may also play these roles…
- 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
The project life cycle is…
Frequently Unique. They vary as much as the industries they serve.
The phase-end review achieves…
- Authorization to close the current project or phase
- Authorization to initiate the subsequent project or phase
The three fundamental phase-to-phase relationships are…
Sequential, Overlapping, Iterative
Sequential relationships are…
The typical finish-to-start relationship.
Overlapping relationships can…
Increase risk and rework, but allow for schedule compression.
