Week 1 Definitions Flashcards
Standard
Document established by an authority, custom, or general consent as a model or example
Generally Recognized
Knowledge & practices described are applicable to most projects most of the time and there is a general consensus about their value/usefulness
Good Practice
General agreement that the application of the knowledge, skills, tools & techniques to PM processes can enhance the chance of success over many projects in delivering expected business values & results
Methodology
System of practices, techniques, procedures, and rules used by those who work in the discipline
Project
Temporary endeavor undertaken to create a unique product, service, or result
Objective
Outcome toward which work is to be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced or a service to be performed
Deliverable
Any unique & verifiable product, result, or capacity to perform a service that is required to be produced to complete a process, phase, or project. May be tangible or intangible.
Business Value
Net quantifiable benefit derived from a business endeavor
Program
Group of related projects managed in a coordinated manner to obtain benefits not available from managing individually
Mega Project
Costs >1B, affects >1M people and runs for years
Portfolio
Project, programs, subsidiary portfolios and operations managed as a group to achieve strategic objectives
Program management
Application of knowledge, skills, and principles to a program to achieve program objectives and to obtain benefits & control not available by managing program components individually
Program Components
Projects and other programs within a program
Portfolio Management
centralized management of one or more portfolios to achieve strategic objectives (do not need to be interdependent)
Operational Project Management
Framework in which portfolio, program, & project management are integrated with organizational enablers in order to achieve strategic objectives
Project life cycle
Series of phases that a project passes through from its start to completion
Project Phase
A collection of logically related project activities that culminates in the completion of 1 or more deliverables
Phase Gate
A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification or to end the program/project
Project Management Processes (General Definition)
A systematic series of activities directed toward causing an end result were ≥1 inputs will be acted upon to create ≥1 outputs
Project Management Process Group
A logical grouping of project management inputs, tools & techniques & outputs. Process groups do not equal project phases
Project management knowledge area
An identified area of PM defined by its knowledge requirements & described in terms of its components processes, practices, inputs, outputs, tools & techniques
Development life cycle
One or more phases within a project life cycle that are associated with the development of the product, service, or result
Product Life Cycle
Series of phases that represent the evolution of a product from concept through delivery, growth, maturity & retirement
Knowledge Area
Identified area of PM defined by its knowledge requirements & described in terms of its component processes, practices, inputs/outputs, T&T
Work Performance Data
The raw observations & measurements identified during activities performed to carry out project work
Work Performance Information
The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas
Work Performance Reports
Physical/electronic representation of work performance info compiled in project documents which is intended to generate decisions or raise issues/ actions/ awareness
Project Business Case
A documented feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further PM activities
Project Benefits Management Plan
Documented explanation defining the process for creating, maximizing, and sustaining the benefits provided by a project
Project Charter
Document issued by project sponsor that formally authorizes the existence of a project and provides the PM with the authority to apply organizational resources to project activities
Project Management Plan
Document that describes how the project will be executed, monitored, and controlled
Brainstorming
A general data-gathering and creativity technique that elicits input from team members and/or SME’s
Brain Writing
A refinement of brainstorming that allows individuals time to consider the questions individually before the group creativity session is held
Stakeholder mapping & representation
Method of categorizing stakeholders using various methods
Plan Stakeholder Engagement
Process of developing approaches to involve project stakeholders based on needs, expectations, interests, and potential impact on project
Risk Register
Contains identified risks of the project and usually links to specific stakeholders as risk owners or as subject to risk impact
Stakeholder Register
Provides the list of project stakeholders including additional classification data and other info
Monitor stakeholder engagement
Process of monitoring project stakeholder relationships and tailoring strategies for engaging stakeholders through modification of strategies/plans
Project Management
Applying tools, techniques, skills, and knowledge to project activities to bring about successful results and meet project requirements
Project Management Office
Usually a centralized organizational unit that oversees the management of projects and programs throughout the organization
Agile Project Management
Method of managing projects in small, incremental portions of work that can be easily assigned, easily managed, and completed within an iteration or a sprint
