Ch. 2 - Project Management Framework Flashcards
(20 cards)
What is a Project?
- A temporary endeavour - with a beginning and an end
- It creates a unique product, service, or result
How are Projects approved?
- Projects are formally review and approved by management
What is Project governance?
Framework within which Project work is performed involving the creation and enforcement of processes and policies in areas such as:
- Risk
- Resources
- Communications
- Change Management
What is a portfolio?
Programs, projects, and other operational work to achieve a specific business goal.
What is a program?
A program is a grouping of related projects
What are the benefits of a program?
- Decrease risk
- Achieve economies of scale
- Improve management
What is Project Management?
- Science: systematic process for managing work efficiently and effectively to deliver planned results.
- Art: influencing, organizing, and strategizing.
What is Organisational Project Management?
A strategic framework to use to guide portfolio, program, and project management to achieve the organization’s strategic goals.
What is a Project Management Office (PMO)?
A unit that provides or ensures compliance with project governance.
What are the forms of PMO?
- Supportive: policies, methodologies, templates, and lessons learned (low level of control)
- Controlling: support and guidance, and training in project management, provide software, and ensures compliance with organizational policies (medium level of control)
- Directive: provides project managers and is responsible for results (high level of control)
How do different organizational structures impact project work?
- Functional - communication stays within the Department
- Project-Oriented - the entire company is organized by projects, like construction,
- Matrix - Two managers, functional and project
What is the role of the Project Sponsor?
- provides financial resources
- supporting the project
- protecting scope
What is the role of the Project Sponsor in the initiating phase?
- Develops business case
- Provides funding
- Sets priorities
- Sets deadlines/milestones
- Champions the project
What is the role of the Sponsor in the planning phase?
- provides resources to plan
- reviews WBS
- Identifies risks
- approves final project management plan
What is the role of the sponsor in the executing and project managing and controlling phase?
- protects the scope
- provides expert judgement
- manages trade-offs
What is the role of the sponsor during the closing phase?
- Accepts deliverables
- Enables deliverable transfer to customers
What is the role of the Project Team?
- Engage Stakeholders
- Get requirements
- Identify limitations and assumptions
- Create WBS
What is the role of Stakeholders?
- Create Project charter
- Develop Project Management plan
- Identify constraints and assumptions
- Identify Requirements
- Manage Risk
What is the role of the Resource/Functional Manager?
- Assign people to the team
- Communicate with the PM about other projects that may impact
- Participate in planning
What is the role of the PM?
- Writes Project Charter
- Leads project planning efforts
- Assigns resources
- Coordinates stakeholder engagement
- Monitors risk
- Accountable for project success/failure
