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CAPM > TWO - Project Management Framework > Flashcards

TWO - Project Management Framework Flashcards

1
Q

What are the 7 project constraints?

A

Scope, schedule, cost, quality, risk, resources, and customer satisfaction

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2
Q

What is the definition of a project, and what are it’s characteristics?

A

A temporary endeavor - has a beginning and an end

It creates a unique product, service, or result;

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3
Q

Why do projects exist?

A

Projects are created to provide business value and deliver the benefits defined in the business case and the benefits management plan.
Projects are designed to bring positive change to org. usually to add or improve products or services, or to satisfy legal/regulatory requirements

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4
Q

What is the difference between operational and project work?

A

Operational work is ongoing work to support the business and systems of the organization, whereas project work ends when the project is closed.

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5
Q

What happens when a project is finished in terms of operation?

A

When a project is finished, the deliverables are transitioned to on-going business operations so the benefits of the project work can be incorporated into the organization.

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6
Q

What may a successful transition from project to operation require?

A

Employee training;

Adjustments to operational processes.

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7
Q

What does organizational governance refer to? What does it involve?

A

Refers to the overall structure of an organization, and it involves setting the policies and procedures for how work will be performed to meet high-level strategic goals. There are multiple levels of governance within an org

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8
Q

What is a board of directors responsible for?

A

For ensuring that work throughout the organization conforms to external (government or regulatory) and internal standards and requirements

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9
Q

What are internal requirements within an organization?

A

Include policies and procedures regarding portfolio, program, and project work which help ensure these endeavors are within the strategic plan of the org, and contribute to the delivery of specific benefits or value

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10
Q

What is a Portfolio?

A

A portfolio includes programs, individual projects, and other related operational work that is prioritized and implemented to achieve a specific strategic business goal. The programs and projects may not be related other than the fact that they are helping to achieve a common strategic goal.

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11
Q

What is the benefit of a portfolio?

A

Combining projects, programs, and operations into portfolios help to optimize the use of resources, enhances the benefits to the org., and reduces risk

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12
Q

When is a project included into a portfolio?

A

Based on potential return on investment, strategic benefits, alignment with corporate strategy, and other factors critical to organizational success.

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13
Q

What is Program Management?

A

Grouping related projects into a program (can also include other related operational work). By doing this, an organization can coordinate the management of these projects

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14
Q

What does the program approach focus on, and what are the benefits?

A

The program approach focuses on the inter-dependencies between the projects and may help decrease the risk, achieve economies of scale, and improve management

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15
Q

What efforts does Program Management include?

A

In addition to work required to complete each individual project, program also includes efforts such as the program manager’s coordination and management activities.

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16
Q

Why are projects combined into programs?

A

To provide coordinated control, support, and guidance

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17
Q

What does the program manager do?

A

Ensure projects and programs achieve the benefits for which they were initiated

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18
Q

What is Project Management?

A

Both an art and science

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19
Q

What is the science part of PM?

A

The science is a systematic process of managing work efficiently and effectively to deliver planned results. This includes tailoring efforts to meet the needs of the project and using the appropriate processes and tools to complete the work

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20
Q

What is the art component of PM?

A

Relates to how a project manager uses skills such as influencing, organizing, and strategizing, in addition to other interpersonal and team skills.

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21
Q

What are the project management process groups?

A

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

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22
Q

What are the project management knowledge areas?

A

integration, scope, schedule, cost, quality, resource, communications, risk, procurement, and stakeholder management. The work of these process groups and knowledge areas within can occur simultaneously, and is iterated as the project progresses

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23
Q

What does effective use of project management ensure?

A

It ensures that the organization is focused on the most important work and, because of appropriately tailored planning, work is done correctly and in most time-and cost-effective manners. Ensures risks are identified and planned for before they occur, communication is managed effectively, and quality is achieved.

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24
Q

What does effective use of project management achieve?

A

Results in stakeholder satisfaction and the achievement of business objectives.

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25
Q

What is the Project Management Office (PMO)?

A

A departmental unit within the organization that provides or ensures compliance with project governance.

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26
Q

What does the PMO do?

A

The office oversees and standardizes the management of projects

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27
Q

What are the three forms that a PMO can take on? Describe each one.

A

Supportive, Controlling, Directive

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28
Q

What is the Supportive form of the PMO?

A

Supportive: Provides the policies, methodologies, templates, and lessons learned for managing projects within an organization. Typically exercises a low level of control over projects.

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29
Q

What is the Controlling form of the PMO?

A

Provides support and guidance on how to manage projects, trains others in PM and PM software, assists with specific project management tools, and ensures compliance with organizational policies. Typically has a moderate control over projects.

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30
Q

What is the Directive form of the PMO?

A

Provides PMs for different projects and is responsible for the results of those projects. All projects, or projects of a certain size, type, or influence, are managed by this office. Has a high level of control over projects.

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31
Q

What does the organizational structure dictate in PM?

A

A primary form of influence is how the company is organized. The org. structure will dictate who the PM goes to for help with resources, how communications are handled, and many other PM aspects.

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32
Q

What is a functional organization type?

A

Common org. structure. Grouped by areas of specialization within function areas (accounting, marketing, manufacturing, etc). Projects generally occur within a single department. If info/project work is needed from another department, employees transmit their request to the head of their department, who communicates it to other department heads. Team members complete project work in addition to normal department work.

33
Q

What is a project-oriented (projectized) organization type?

A

The entire company is organized by projects, and the PM has control of the project. Personnel are assigned and report to a PM, and team members only complete project work. When project is over, they do not have a department to go back to. They need to be assigned to a different project or get different employer. Communication primarily occurs within the project. AKA composite or hybrid org.

34
Q

What is a matrix organization type?

A

Attempt to maximize the strengths of both the functional and project-oriented structures. Team members report to two managers, the PM and functional manager. Communication goes from team members to both managers. Team members do project work in addition to normal department work

35
Q

What is a strong matrix?

A

Power rests with the PM

36
Q

What is a weak matrix?

A

Power rests with the functional manager, and the power of a PM is comparable to that of coordinator or expediter

37
Q

What is a balance matrix?

A

The power is shared between the functional manager and the project manager

38
Q

What is a project expediter?

A

Acts primarily as a staff assistant and communications coordinator. The expediter cannot personally make or enforce decisions

39
Q

What is a Project Coordinator?

A

Similar to project expediter, except has some authority and power to make decisions and reports to a higher-level manager

40
Q

What is a tight matrix?

A

NOT a org. structure, and refers to colocation - practice of locating the work spaces for the project team in the same room.

41
Q

Tip of the trade with org. structures:

A

If exam question does not identify which form of organization, assume matrix.

42
Q

What is the role of the Project Sponsor/Initiator?

A

One who provides the financial resources for the project. Additional duties are providing support for the project and protecting the project from unnecessary changes. Role can be filled be two or more individuals working together. Serve as a protector of the project. Advocates for or champions the project. Define project objectives. Approves final PM Plan. Protects the project from outside influences. Supports efforts of the PM.

43
Q

Review list of project role responsibilities each member has starting on page 23

A

REVIEW PAGE 23 of CAPM PREP

44
Q

What is the role of the project team?

A

The project team is a group of people, including the PM, who will complete the work of the project. The team members can change throughout the project. Generally, it is the team’s role to help plan what needs to be done by creating the WBS and schedule estimates for the work packages or activities. The team members complete the activities to produce the deliverables represented in work packages, and help look for deviations from the PM plan.

45
Q

What are team members responsible for in Agile environments?

A

Responsible for clarifying user stories with the customer so they can estimate and plan the releases and iterations, hold reviews and retrospectives, and update the project info using tools such as Kanban boards and burndown charts

46
Q

What is the project management team?

A

On large projects, there may be too much PM work for one person to perform. The PM may select some project team members to help perform the PM activities. These members are defined as the PM team.

47
Q

What is the role of the Stakeholders?

A

A stakeholder is anyone who will be impacted by the project, or can positively or negatively influence the project. Includes the customer or end user, PM, team, sponsor, program/portfolio managers, PMO, functional managers, other departments/groups in org, external sellers that provide services or materials for the project.

The stakeholders role in a project is determined by the PM and the stakeholders themselves. Stakeholders should be involved in planning the project and managing it. May be involved in project charter, developing PM plan, approving project changes, etc

48
Q

What is the project owner role in an agile environment?

A

Someone from the business who is responsible for working with the agile team to prioritize features and functions

49
Q

What is the role of the functional or resource manager?

A

Manages and is responsible for the human and physical resources in a specific department (IT, eng, marketing etc). Responsible for working with the project manager to meet the needs of the project. Maintain a calendar indicating resource availability, and coordinate with PMs. PMs will collaborate and negotiate if have an issue with resources allocated. The degree to the involvement of a functional manager in a project depends on org. structure. For example, matrix org the pm and functional manager share the work of directing individuals and managing resources.

50
Q

What is the role of the PM?

A

Responsible for managing the project to meet the project objectives and deliver value and benefits to the organization. Must create a PM Plan that people agree with and believe is realistic. Responsible for ensuring a project is completed according to the schedule, budget, including approved changes, and that it meets all project objectives. PM is accountable for delivering project benefits

51
Q

What are the two common types of Organizational Process Assets (OPAs)?

A

Processes, procedures, and Policies;

Organizational Knowledge Repositories.

52
Q

What are Processes, Procedures, and Policy OPAs?

A

Over time, organizations develop/adopt Processes, Procedures, and Policies for projects. These Processes, Procedures, and Policies are referred to OPAs, and apply to aspects of the project such as quality, procurement, resource management, change control, safety, compliance, and more. Projects may recommend changes to the Processes, Procedures, and Policies, but they are generally owned by PM office or department responsible for organization governance

53
Q

What is the main part of Organizational Knowledge Repositories (OPAs)?

A

Include info on many facets of projects. Include Historical knowledge repositories that are accessible to the organization. Historical knowledge can be used to plan and manage future projects, improving the process of PM and avoiding challenges experienced by past projects.

54
Q

What is included in Historical information?

A

Historical info can include: activities, WBSs, benchmarks, reports, risks and risk response plans, estimates, resources used, PM plans, baselines, correspondence.

Also includes Lessons Learned that document what went right, wrong, and what the team would do differently if they could start over.

55
Q

What are parts of the Organizational Knowledge Repositories?

A

Historical knowledge bases, lessons learned, configuration management (file structure, file naming, templates, etc), financial data (budgets and actual costs of completed projects), issue logs, metrics, PM plans and baselines, project documents

56
Q

What are Enterprise Environmental Factors?

A

Provide a context within which to plan the project. EEFs are outside the control of the project team.

57
Q

What are EEF external to the organization?

A

Governmental or other rules and regulations that apply to the organization

58
Q

What are EEFs internal to the organization?

A

Include the structure, culture, systems, geographic locations of organization, technology and resources available

59
Q

What are EEFs related to PM?

A

May include a resource management system, a procurement system, and quality management system.

60
Q

What is the assumption log?

A

Is a repository of both assumptions and constraints, started when the project charter is developed. Assumptions and constraints are first identified at a high level in the business case and project charter, being further defined as project progresses.

61
Q

What is output to assumption log?

A

The assumption log is an input to many project planning processes, and assumption log updates are a frequent output to many planning and control processes.

62
Q

What are assumptions?

A

What your management and stakeholders believe to be true about the project. Comparable to expectations, as they may not be all based on fact. Incorrect assumptions introduce risk, so must be identified and managed.

63
Q

What are constraints?

A

Are easier to identify than assumptions, as they are usually clearly imposed by management or the sponsor. Constraints limit options during planning and beyond. Project constraints include schedule, cost, risk,quality, scope, resources, customer satisfaction, and any other factors that limit options (due dates)

64
Q

How do prioritization of constraints affect project?

A

Management indirectly or directly sets the priority of constraints. This prioritization is used to plan the project, evaluate impacts of change, and prove successful project completion.

65
Q

How does a change to one constraint affect the project?

A

If you change one constraint, it will most likely affect other constraints. Example, most likely cannot shorten the schedule without causing negative effects on cost.. Every change can affect a constraint, and needs to be assessed properly, and risks must also be evaluated.

66
Q

What are people who can exert positive or negative influence over a project but may not otherwise be considered part of the project?

A

These people are also considered as stakeholders.

67
Q

What does proper stakeholder management include?

A

It includes keeping the stakeholders informed, solicits their input, and works to satisfy their needs and expectations.

68
Q

What are the three terms to identify the stages through which generated, considered, and communicated project data and information move?

A

Work performance data, information, and reports

69
Q

What is work performance data, information, and reports?

A

Work performance data includes the initial measurements and details about activities gathered during the direct and manage project work processes in executing. When monitoring and controlling a project, work performance data is analyzed to make sure it conforms to the PM plan. It is also assessed to determine what the data means to the project as a whole. This results in work performance information. Work performance information can then be organized into reports, which are distributed to various stakeholders who need to receive and possibly act on the information.

70
Q

Review tools and techniques on page 34-37

A

Page 34 - 37

71
Q

Data gathering?

A

If a PM needs to collect input from stakeholders, they can use:
Benchmarking, brainstorming, prompt lists, checklists, interviews, market research, questionnaires and surveys

72
Q

Data Analysis?

A

Depending on type of data a PM is working with and the depth of analysis required, some data analysis tools and techniques are:
alternative analysis, assumptions and constraints, cost-benefit, document, earned value analysis, performance reviews, root cause, etc

73
Q

What is data representation?

A

Throughout a project the PM will gather and generate data from various sources for a number of purposes. They will likely need to communicate this info to others. Data representation includes options for representing, or communicating data.

74
Q

Decision Making

A

PM will have to make countless decisions, and some techniques are:
multi-criteria decision analysis, voting

75
Q

Review all other tools and techniques in this chapter

A

page 34 - 37

76
Q

What is Project Management Information System (PMIS)?

A

An organizations PMIS is part of its EEFs. The PMIS includes automated tools such as scheduling software, configuration management system, shared work spaces for file storage/distribution, work authorization software, time tracking software, and procurement management software, as well as historical info repositories.

77
Q

What is Expert Judgment?

A

Sometimes easiest way to get info is to consult experts. Often, those with expertise needed by the project are working on the team, or at least within the org. Common tool not frequently discussed in this book

78
Q

Meetings

A

Meetings are often used in planning processes and can be an effective way to get input/feedback from groups of people.

CAPM (20 decks)

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