When To And Why Use Project Management Flashcards
____________ is essentially concerned with managing discrete packages of work to achieve objectives - producing an end-product that will effect some change for the benefit of the organization that instigated the project.
Project management
______________ may be expressed in terms of outputs (such as a new building), outcomes (such as staff being relocated from multiple locations to the new building), benefits (such as reduced travel and facilities management costs) or strategic objectives (such as doubling the organization’s share price in three years).
Objectives
_______ are separate to business-as-usual activities, requiring people to come together temporarily to focus on specific project objectives. As a result effective teamwork is central to successful _______.
Projects
The _______, _______, and _______ of the work are factors that affect the way the work is managed.
scale
significance
complexity
A key factor that distinguishes project management from just management is that it has this final __________ and a finite __________, unlike management which is an ongoing process.
deliverable
timespan
4 Benefits of Investment in Effective Project Management:
- provide a greater likelihood of achieving the desired result;
- ensure efficient and best value use of resources;
- satisfy the differing needs of the project’s stakeholders
- produce something new or altered: tangible or intangible
Value of Project Management
- Completing projects more quickly and cheaply.
- Being more predictable.
- Saving effort and cost with proactive scope management.
- Better solution “fit” the first time through better planning.
- Resolving problems more quickly.
- Resolving future risk before the problems occur.
- Communicating and managing expectations with customers, team members and stakeholders more effectively.
- Building a higher quality product the first time.
- Improved financial management.
- Stopping “bad” projects more quickly.
- More focus on metrics and fact-based decision making.
- Improved work environment.
One of the biggest benefits of using a common methodology is the value of ______. Once the processes, procedures and templates are created, they can be used on all projects in the future.
reuse
One of the first benefits that should occur with good project management processes is that managers will be more _________. If there is good planning, managers will better understand the work to be accomplished, and in turn do a better job of estimating work.
predictable
Many projects have difficulty managing _________, which results in additional effort and cost to the project.
scope
Many projects experience problems because there is a ________ between what the client expects and what the project team delivers.
gap
Using a ________ results in better project planning, which gives the team and the sponsor an opportunity to make sure they are in agreement on the major deliverables produced by the project.
methodology
Project management includes processes to identify and manage _________.
risks
Many problems on a project can be avoided with proactive and multifaceted ______________.
communication
Much of the conflict that does arise on a project is not the result of a specific problem, but because of __________.
surprises
Project management focuses on proactive formal and informal ____________, which results in fewer ____________.
communication
surprises
Sound _____________ processes will result in potential problems being identified and managed before the problems actually occur.
risk management
Having a proactive _____________ process helps ensure that problems are resolved as quickly as possible.
issues management
Project management contains _____________ processes that will help the team understand the needs of the customer in terms of quality.
quality management
This is the result of better project definition, better estimating, more formal budgeting and better tracking of the project actual costs against the budget
Improved financial management
A project may have started with sound cost-benefit justification. However, if the project is _______ and _______ it may hit a threshold where the business case is no longer valid.
late
over-budget
_______ provide information that helps determine how effectively and efficiently a team is performing and the level of the quality of deliverables. ________ also give the information necessary to validate whether or not the manager or the project is successful.
Metrics
