1. What is a project? Flashcards
What is a project?
A project is organized work toward a predefined goal or objective that requires resources and effort, a unique and therefore risky venture having a budget and schedule.
For an activity to be considered as a project it shall have;
- Have a specific objective to be completed within certain specifications
- Have defined start and end dates
- Have funding limits, if applicable
- Consume human and non-human resources.
- Are multifunctional
What’s the definition of ‘Project’ in PMBoK?
A temporary endeavor to create a unique product, service, or result.
What are the elements of a project?
- Projects are complex, one-time processes.
- Projects are limited by budget, schedule, and resources.
- Projects are developed to resolve a clear goal or set of goals
- Projects are customer-focused.
What is the primary goal of a project?
Customer satisfaction
List the properties of a project: (General project Characteristics)
(a) Ad hoc endeavors with a clear life cycle.
(b) Building blocks in the design and execution of organizational strategies.
(c) Responsible for the newest and most improved products, services and organizational processes.
(d) Provide a philosophy and strategy for the management of change.
(e) Project management entails crossing functional and organizational boundaries
(f) The traditional management functions of planning, organizing, motivation, directing, and control apply to project management.
(g) The principal outcomes of a project are the satisfaction of customer requirements within the constraints of technical, cost, and schedule objectives.
(h) Projects are terminated upon successful completion of performance objectives
What is a project management office?
A project management office (PMO) is defined as a centralized unit within an organization or department
that oversees or improves the management of projects
What the models of PMOs?
- Weather stations
- Control Tower
- Resource Pool
Which one is more heterogeneous, projects or process?
Project
We should not overestimate the ____ to be gained while underestimating the ______ required to make a project work.
Overestimate
Underestimate
Why are projects important?
- Shortened product life cycle.
- Narrow product launch windows
- Increasingly complex and technical products
- Global market
- An economic period marked by low inflation.
One of the unique aspects of projects is that it blends both _____ and ______ challenges.
Technical
Behavioral
The majority of the project budget is expended upon:
a. Project plan development.
b. Project plan execution.
c. Project termination.
d. Project communication.
b b—The majority of a project budget is spent
during the execution phase
Which of the following is the most critical component
of the triple constraint?
a. Time, then cost, then quality.
b. Quality, then budget, then time.
c. Scope.
d. They are all of equal importance unless otherwise
stated.
d - Unless otherwise stated, all elements in the triple-constraint model are equally critical
Which of the following best describes a project
stakeholder?
a. A team member.
b. The project manager.
c. Someone who works in an area affected by the
project.
d. All of the above are stakeholders.
d - All of the examples listed are types of project
stakeholders
