VC Chapter 4 Flashcards
Describe managing integration.
Managing integration: Projects have all types of activities going on and there is a need to keep the “whole” thing moving collectively – integrating all of the dynamics that take place. Managing integration is about developing the project charter, scope statement, and plan to direct, manage, monitor, and control project change.
Describe managing scope.
Managing scope: Projects need to have a defined parameter or scope, and this must be broken down and managed through a work breakdown structure or WBS. Managing scope is about planning, definition, WBS creation, verification, and control.
Describe managing time/schedule.
Managing time/schedule: Projects have a definite beginning and a definite ending date. Therefore, there is a need to manage the budgeted time according to a project schedule. Managing time/schedule is about definition, sequencing, resource and duration estimating, schedule development, and schedule control.
Describe managing costs.
Managing costs: Projects consume resources, and therefore, there is a need to manage the investment with the realization of creating value (i.e., the benefits derived exceed the amount spent). Managing costs is about resource planning, cost estimating, budgeting, and control.
Describe managing quality.
Managing quality: Projects involve specific deliverables or work products. These deliverables need to meet project objectives and performance standards. Managing quality is about quality planning, quality assurance, and quality control.
Describe managing human resources.
Managing human resources: Projects consist of teams and you need to manage project team(s) during the life cycle of the project. Finding the right people, managing their outputs, and keeping them on schedule is a big part of managing a project. Managing human resources is about human resources planning, hiring, and developing and managing a project team.
Describe managing communication.
Managing communication: Projects invariably touch lots of people, not just the end users (customers) who benefit directly from the project outcomes. This can include project participants, managers who oversee the project, and external stakeholders who have an interest in the success of the project. Managing communication is about communications planning, information distribution, performance reporting, and stakeholder management.
Describe managing risk.
Managing risk: Projects are a discovery-driven process, often uncovering new customer needs and identifying critical issues not previously disclosed. Projects also encounter unexpected events, such as project team members resigning, budgeted resources suddenly changing, the organization becoming unstable, and newer technologies being introduced. There is a real need to properly identify various risks and manage these risks. Managing risk is about risk planning and identification, risk analysis (qualitative and quantitative), risk response (action) planning, and risk monitoring and control.
Describe managing procurement.
Managing procurement: Projects procure the services of outside vendors and contractors, including the purchase of equipment. There is a need to manage how vendors are selected and managed within the project life cycle. Managing procurement is about acquisition and contracting plans, sellers’ responses and selections, contract administration, and contract closure.
Describe managing stakeholders.
Managing stakeholders: Every project impacts people and organizations and is impacted by people and organizations. Identifying these stakeholders early, and as they arise and change throughout the project, is a key success factor. Managing stakeholders is about identifying stakeholders, their interest level, and their potential to influence the project; and managing and controlling the relationships and communications between stakeholders and the project.
SOW
Scope of work - typically a written document that defines what work will be accomplished by the end of the project–the deliverables of the project.
What is the difference between project scope and the project execution plan?
The project scope defines what will be done, and the project execution plan defines how the work will be accomplished.
How is the quality of the scope measured?
The quality of the scope is measured by the ability of the project manager and project stakeholders to develop and maintain a common understanding of what products or services the project will deliver.
According to PMI the scope statement should include?
1- Description of the scope 2- Product acceptance criteria 3- Project deliverables 4- Project exclusions 5- Project constraints 6- Project assumptions
What is the term given to one of the most common trends on projects is the incremental expansion in the project scope.
Scope creep
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Scope creep threatens the success of a project because the small increases in scope require additional resources that were not in the plan. Increasing the scope of the project is a common occurrence, and adjustments are made to the project budget and schedule to account for these changes. Scope creep occurs when these changes are not recognized or not managed. The ability of a project manager to identify potential changes is often related to the quality of the scope documents.
True or False:
The later in the project the change occurs, the greater the increase to the project costs.
True
