What is a Project?

Question 1

What is a Project?

Answer 1

• Temporary endeavors that produce a unique product, service, or result

Question 2

3 Characteristics of a Project

Answer 2

• Unique
• Temporary
• Progressively elaborated

Question 3

What is Project Management by definition?

Answer 3

-The application of knowledge, skills, tools, and techniques to satisfy project requirements

Question 4

What is Operations?

Answer 4

• The ongoing production of goods and/or services
• Considers the acquisition, development, and utilization of resources that firms need to deliver the goods and services

Question 5

Define Portfolio Management

Answer 5

• A collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives

Question 6

Phase Definition

Answer 6

• A collection of logically related project activities that culminates in the completion of one o more deliverables

Question 7

Deliverable Definition

Answer 7

• Any unique and verifiable product, service, or result
• What you get out at the end of a phase

Question 8

Program Definition

Answer 8

• A group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually
• There MUST be a value add from managing them together
• Focuses on project interdependencies

Question 9

Define Project Governance

Answer 9

• The framework, functions, and processes that guide project management…
• … in order to create a unique product, service, or result to meet a company goals
• Should be tailored to businesses
• All companies have different frameworks

Question 10

Define Stakeholders

Answer 10

• Individuals, groups, or organizations that may affect, be affected, or perceive to be affected by the project

Question 11

Define PMO

Answer 11

• standardizes the processes and facilitates the sharing of resource, methodologies, tools, and techniques

Question 12

3 Types of PMO

Answer 12

• Supportive
• Controlling
• Directive

Question 13

Controlling PMO

Answer 13

• Determines the framework or methodology and use of specific forms
• Project Managers do not report to Controlling PMOs
• “This is how you are going to do the project”

Question 14

Directive PMO

Answer 14

• Project Manager reports all work and performances to them
• This is on top of getting the framework, methodology, and process instructions

Question 15

Supportive PMO

Answer 15

• Provides templates, training, or lessons learned from other projects
• Project Manager is supported in their work

Question 16

What are Processes?

Answer 16

• Inputs, Outputs, and Tools/Techniques combined to execute a specific purpose on the project

Question 17

Input

Answer 17

• The starting point for a process
• The raw materials to begin execution

Question 18

Tools & Techniques

Answer 18

• The actions or methods that are used to transform the raw materials into the output

Question 19

Output

Answer 19

• The end result of our efforts
• May be put into another process