Business Process Management: Project Management Flashcards Preview

BEC > Business Process Management: Project Management > Flashcards

Flashcards in Business Process Management: Project Management Deck (15):
1

Operations Management

ongoing production of goods and services and ensuring that a company's operations function efficiently by using the optimal resources necessary to meet the sales demand of its customers

2

Project

temporary undertaking intended to produce a unique service, product or result

3

Project Management- 5 major processes carried out by a project manager tasked with balancing the needs and expectations of all stakeholders against the organization's constraints

1) Initiating
2) Planning
3) Executing-Assure Quality
4) Monitoring and controlling-Control the costs
5) Closing

4

Project charter

is a document that contains a business jurisdiction to fulfill the needs and expectations of initial stakeholders carrying out a statement of work that will achieve the project objectives

5

Stakholders

Project team
Sponsors
Executive Steering Committee
Customers
Customer coworkers
Customer managers

6

Statement of work

Describes the product or services the project must deliver at completion

7

Planning consists of

1) Develop the initial project management plan
2) Define and document stakeholder's requirements
3) Define the scope of the project
4) Create a work breakdown sequence
5) Define the activities that must be performed in order to produce the project deliverables
6) Sequence the activities
etc

8

Project Risk

represents an uncertain condition or event that could have a negative (or positive) effect on one or several project objectives

9

Inputs used for Planning for Risk

Risk management plan
Cost management plan
Schedule management plan
Risk Register
Enterprise Environmental factors
Organizational process assets

10

Conflict Resolution Strategies

Retreat
Focus
Compromise
Offer a direct win-lose
Build Consensus
Actively engage the team to solve problems through discussions

11

Scope-Challenges

challenge in managing scope is to include all the work required to complete a project and nothing else

12

Scope baseline

formal written approved statement of the project scope and work breakdown structure.

13

Project Cost Management Process

a) Planning for cost management
b) Estimating the costs necessary for the project
c) Determining the budget
d) Controlling project costs

14

Cost Estimation Methods

a) Judgement
b) Parametric Estimating- statistical relationship between historical cost and other variables
c) Analogous Estimating
d) Work breakdown structure estimation
e) Three-Point Estimates- Optimistic or Pessimistic assumptions
f) Reserve Analysis
g) Project Management Software
h) Vendor Bid Analysis
i) Earned Value Management

15

Quality Management

1) Plan Quality Management
2) Perform Quality Assurrance
3) Quality Control
4) Quality Tools