Success
Measured by finishing the project within given limitations of scope, cost, time, quality, resources, and risk
The project can be successful, even if the sponsor is unhappy
Aggregate performance of all components (projects or programs) in portfolio management
Baseline
An original plan plus any approved changes
There are three baselines on all projects: scope, time, and cost
All projects are measured against the three baselines
Adaptive Life Cycle
(Iterative, Incremental, Agile)
Type of life cycle where the scope is known early, but the time and cost will be refined as the project progresses using iterations of the product
Balanced Matrix Organization
(Organizational Structure)
The project manager is part-time and has equal (low to moderate) authority/power with the functional manager over the control of resources
Strong Matrix Organization
(Organizational Structure)
The project manager is full-time and has most of the authority/power (moderate to high) over resources (e.g., budget is managed by the project manager)
There is a functional manager, but with very little power
All questions on the exam are based on a strong matrix organizational structure unless otherwise stated
Project Management
The application of knowledge, skills, tools, and techniques to project work to meet project requirements
Managing people to accomplish the scope of a project in the given constraints of time and costs
Applying/integrating project management processes as needed throughout the project
Organizational Structure
Helps to determine the power and authority level of:
- The project manager within a company, and
- Who controls resources needed for projects
An enterprise environmental factor (EEF)
Project
A temporary endeavor to create a unique product, service, or result
All have time, cost, and scope limitations Managed by a project manager
Progressively elaborated
Phase Gates
(Phase Reviews, Stage/Toll Gates, Kill/Decision Points, Milestones)
Held at the end of each phase of a project to determine if the project is meeting its goals and if the project should continue
Go or no-go decision
Customers
The people who acquire the project’s product, service, or result
Accept deliverables
Predictive Life Cycle
(Waterfall)
Type of life cycle where the scope, time, and cost are known early in the project
Project Oriented Organization
(Projectized)
An organization where the project manager is a full-time position that controls all of the resources
There are no functional managers or functional work
When a project is complete, team members are either released from the company or reassigned to another project
E.g., a consulting firm
Outputs
Results of a process
Project Life Cycle
The series of phases a project will go through from start to finish
Phase
Division within the project where extra control is needed to effectively manage the completion of one or more deliverables
Generally concluded and formally closed with the acceptance of a deliverable
Each has all five process groups of initiating, planning, executing, monitoring and controlling, and closing
PMBOK
Project Management Body of Knowledge
Knowledge Areas
Specialized areas of project management
Sets of processes that are usually defined by the knowledge needed to manage that area
There are 10:
- Project Integration Management
- Project Scope Management
- Project Schedule Management
- Project Cost Management
- Project Quality Management
- Project Resource Management
- Project Communications Management
- Project Risk Management
- Project Procurement Management
- Project Stakeholder Management
Project Life Cycle
The phases that a project goes through from initiating the project to its closing
The logical breakdown of the work needed to complete the deliverables
Sometimes referred to as the organization methodology for managing projects
All projects, once completed, go to operations
Agile
A type of project management that refers to different types of iterative development (e.g., scrum)
Mostly used on software development projects in which there is an agile project charter, a scrum master, a product backlog, sprints (iterations) lasting 1-4 weeks
Program
A collection of projects containing a common goal
Managed by a program manager
Project Coordinator
Individual working in a functional or weak matrix organization who cannot usually make budget decisions, but can assign resources
Has less decision-making power than a project manager
Constraints
Project limitations
All projects are limited by their scope, time, cost, quality, resources, and risk
All major constraints are equally important unless stated otherwise
Process Group
A set of processes that the project manager may be doing at a certain time
They interact, overlap, and are iterative
All phases on a project will contain five:
- Initiating
- Planning
- Executing
- Monitoring and controlling
- Closing
Project Value
The primary reason a company will perform a project
Can be tangible, such as money, or intangible, such as brand reputation
Inputs
Things needed to start a process
Matrix Organization
(Organizational Structure)
An organization that has characteristics of both functional and projectized organizations
Stakeholder
Everyone (any individual or business) that may be positively or negatively affected by the project
Examples include: sponsors, customers, users, sellers, organizational groups, functional managers, senior management, program manager, (PMO), project manager, project coordinator, project expeditor, and project team
Product Life Cycle
The life cycle that a product goes through from start to end
Includes buying a product, installing it, maintaining it, and disposing of it
One product life cycle may include many project life cycles
Functional Organization
An organization where the project manager has very little power over the resources, because the resources are controlled and managed by the functional manager
Project management is part-time
Project manager reports to a functional manager
When the project is complete, team members go back to their functional duties
Project Team
The SMEs who actively work on the project full-time (dedicated) or part-time and create the project’s products, services, or results
Led by the project manager
Progressive Elaboration
(Rolling Wave Planning)
Discovering greater levels of detail as the project moves toward completion
Method by which work to be accomplished in the near term is decomposed and future work is planned at a higher level
Iterative process of reviewing scope (amount of work), schedule, and cost
A tool used to help execute the Define Activities process (Schedule/Planning)
Process
A series of activities with inputs, tools and techniques, and outputs (ITTOs)
Can be performed multiple times, sequentially, and/or simultaneously
Deliverable
Part of the product that is presented to the customer or stakeholders for acceptance
Portfolio
Collection of projects, programs, and operations that achieve a strategic business goal
Managed by a portfolio manager
Weak Matrix Organization
(Organizational Structure)
The project manager is part-time, managed by a functional manager, and has low authority/power (but a little more than at a functional organization)
Project Management Office (PMO)
Provides guidance and support for all project managers in the company to help ensure all projects follow a standard set of processes from start to end.
Generally sets up the structure and framework that projects within a business will follow.
An Enterprise Environmental Factor (EEF)
An important stakeholder on a project that can help in the following ways:
- Provides training for project managers on project methodologies.
- Defines standards and the best practices for all projects in an organization.
- Provides templates for project managers to use.
- Helps with approvals or resource gathering.
- Defines the project management role.
- Provides assistant project managers with the resources needed to complete their projects.
- Audits projects
Sponsor
An internal or external person who pays for the project
May help to initiate and authorize a project
Authorizes changes
Approves/accepts deliverables
Hybrid Organization
(Organizational Structure)
An organization that uses more than one type of organizational structure
Example of functional + projectized: A functional organization creates a special unit with a dedicated team working full time to complete an important project
Users
The people who directly use the project’s product, service, or result
Accept deliverables
Project Manager
The individual responsible for the project outcome and day-to-day project team management to complete the project (work/deliverables/product)
Authorized to use all project resources
Usually assigned by the sponsor
A primary skill is communicating with the project stakeholders (e.g., understanding needs, gaining feedback).
A primary role is performing integration
Functional Managers
Individuals who manage and/or lead different organizational groups/functions/departments (e.g., sales, HR, legal, or IT)
Project Expeditor
An individual in a functional organization where the project manager is part-time
Helps to organize the project work and has no power or responsibility to follow a budget
Has less power over a project than either a PM or a coordinator
“Pushes things through / expedites things”
Operations
The ongoing, day-to-day work in a business that have no start or end date, and are not unique
Examples: providing IT support, building cars on an assembly line
Tools and Techniques
Things that help you execute a process
Project Governance
The framework, functions, and processes that a company will develop internally and follow in order to complete a project and meet its strategic and operational goals.
Issue
A problem or conflict
