Chapter 1 - Introduction : Pages 1 - 35 Flashcards by Erin Black

A temporary endeavor undertaken to create a unique product service or result

Project

Page 4

How well did you know this?

Not at all

Perfectly

An outcome toward which work is to be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced, or a service to be performed

Outcome

Page 4

How well did you know this?

Not at all

Perfectly

Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project. It can be tangible or intangible.

Deliverable

Page 4

How well did you know this?

Not at all

Perfectly

A unique product that can be either a component of another item, an enhancement or correction to an item, or a new end item itself

Deliverable

Page 4

How well did you know this?

Not at all

Perfectly

A unique service or capability to perform a service (e.g. a business a function that supports production or distribution)

Deliverable

Page 4

How well did you know this?

Not at all

Perfectly

A unique result, such as an outcome or document (e.g. a research project, that develops knowledge that can be used to determine whether a trend exists or a new process will benefit society)

Deliverable

Page 4

How well did you know this?

Not at all

Perfectly

A unique combination of one or more products. services, or results (e.g. a software application, its associated documentation, and help desk services)

Deliverable

Page 4

How well did you know this?

Not at all

Perfectly

The temporary nature of projects does not necessarily mean that a project has a short duration, but rather that a project has a definite ________ and _________

Beginning and End

Page 5

How well did you know this?

Not at all

Perfectly

________ drive change in organizations, as they are aimed at moving an organization from one state to another state in order to achieve a specific objective.

Projects

Page 6

How well did you know this?

Not at all

Perfectly

The net quantifiable benefit (tangible, intangible, or both) derived from a business endeavor for project stakeholders

Business Value

Page 7

How well did you know this?

Not at all

Perfectly

Monetary Assets
Stockholder Equity
Utility
Fixtures
Tools
Market Share

Tangible Business Value Elements

Page 7

How well did you know this?

Not at all

Perfectly

Goodwill
Brand Recognition
Public Benefit
Trademarks
Strategic Alignment
Reputation

Intangible Business Value Elements

Page 7

How well did you know this?

Not at all

Perfectly

Why might a project be initiated?

-Meet regulatory, legal, or social requirements
-Satisfy stakeholder requests or needs
-Implement or change business or technological strategies
-Create, improve, or fix products, processes, or services
(Page 7)

How well did you know this?

Not at all

Perfectly

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements

Project Management

Page 10

How well did you know this?

Not at all

Perfectly

What are the 3 separate scenarios in which a project may be managed?

-As a stand-alone project (outside of a portfolio or program)
-Within a program
-Within a portfolio
(Page 11)

How well did you know this?

Not at all

Perfectly

A group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually

Program

Page 11

How well did you know this?

Not at all

Perfectly

A very large project, that costs $1B or more, affects 1 million or more people, and runs for years

Megaproject

Page 11

How well did you know this?

Not at all

Perfectly

Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives

Portfolio

Page 11

How well did you know this?

Not at all

Perfectly

__________ and _________ management focus on doing programs and projects the “right” way

Program and Project Management

Page 12

How well did you know this?

Not at all

Perfectly

___________ management focuses on doing the “right” programs and projects

Portfolio

Page 12

How well did you know this?

Not at all

Perfectly

The application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually

Program Management

Page 14

How well did you know this?

Not at all

Perfectly

The centralized management of one or more portfolios to achieve strategic objectives. The programs or projects of the portfolio may not be necessarily interdependent or directly related.

Portfolio Management

Page 15

How well did you know this?

Not at all

Perfectly

An area outside the scope of formal project management as it is concerned with the ongoing production of goods and/or services.

Operations Management

Page 16

How well did you know this?

Not at all

Perfectly

The framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives

Organizational Project Management (OPM)

Page 17

How well did you know this?

Not at all

Perfectly

The series of phases that a project passes through from its start to completion; it provides the basic framework for managing the project

Project Life Cycle | Page 19

A collection of logically related project activities that culminates in the completion of one or more deliverables

Project Phase | Page 18

A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end the program or project

Phase Gate | Page 18

A systematic series of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs

Project Management Processes | Page 18

A logical grouping of project management inputs, tools, and techniques, and outputs that include: Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Project Management Process Group | Page 18

An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques

Project Management Knowledge Area | Page 18

Project life cycles can be __________ or ___________

predictive or adaptive | Page 19

Within a project life cycle, there are generally one or more phases that are associated with the development of the product, service, or result. These are called what?

Development Life Cycles | Page 19

These an be predictive, iterative, incremental, adaptive, or a hybrid model

Development Life Cycles | Page 19

Also referred to as waterfall life cycles, in this, the project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed.

Predictive Life Cycle | Page 19

In ___________________, the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team's understanding of the product increases. Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product.

Iterative Life Cycle | Page 19

In ___________________________, the deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame. The deliverable contains the necessary and sufficient capability to be considered complete only after the final iteration.

Incremental Life Cycle | Page 19

These are agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration. Also referred to as agile or change-driven life cycles.

Adaptive Life Cycle | Page 19

This is a combination of a predictive and adaptive life cycle. Those elements of the project that are well known or have fixed requirements follow a predictive development life cycle, and those elements that are still evolving follow an adaptive development life cycle.

Hybrid Life Cycle | Page 19

The series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and retirement.

Product Life Cycle | Page 19

Depending on the organization, industry, or types of work, _________________ may be referred to by other terms such as phase review, stage gate, kill point, and phase entrance or phase exit.

Phase Gate | Page 21

The end result of a process

Outcome | Page 22

What are examples of processes that are used once or at predefined points in the project?

-Develop Project Charter -Close Project or Phase (Page 22)

What are examples of processes that are performed periodically/as needed?

-Acquire Resources -Conduct Procurements (Page 22)

What is an example of a process that is performed continuously throughout the project?

Define Activities | Page 22

____________ is independent of project phases

Process Groups | Page 23

Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase

Initiating Process Group | Page 23

Those processes required to establish the scope of the project, refine objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve

Planning Process Group | Page 23

Those processes performed to complete the work defined in the project management plan to satisfy the project requirements

Executing Process Group | Page 23

Those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes

Monitoring and Controlling Process Group | Page 23

Those processes performed to formally complete or close the project, phase, or contract

Closing Process Group | Page 23

An identified area of project management defined by its knowledge requirements described in terms of its component processes, practices, inputs, outputs, tools and techniques

Knowledge Area | Page 23

Includes the processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups

Project Integration Management | Page 23

Includes the processes required to ensure the project includes all the work required, and only the work required, to complete the project successfully

Project Scope Management | Page 23

Includes the processed required to manage the timely completion of the project

Project Schedule Management | Page 24

Includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget

Project Cost Management | Page 24

Includes the processes for incorporating the organization's quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meet stakeholder's expectations

Project Quality Management | Page 24

Includes the processes to identify, acquire, and manage the resources needed for the successful completion of the project

Project Resource Management | Page 24

Includes the processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information

Project Communications Management | Page 24

Includes the processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project

Project Risk Management | Page 24

Includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team

Project Procurement Management | Page 24

Includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution

Project Stakeholder Management | Page 24

How many total knowledge areas are there in the PMBOK Guide?

10 | Page 23

The raw observations and measurements identified during activities performed to carry out the project work Examples: Reported percent of work physically completed, Quality and technical performance measures, Start and finish dates of schedule activities

Work performance data | Page 26

The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas. Examples: Status of deliverables, implementation status for change requests, forecast estimates to complete

Work performance information | Page 26

The physical or electronic representation of work performance information compiled in project documents, which is intended to generate decisions or raise issues, actions, or awareness. Examples: Status reports, memos, justifications, information notes, electronic dashboards, recommendations, updates

Work performance reports | Page 26

A system of practices, techniques, procedures, and rules used by those who work in a discipline.

Methodology | Page 28

Selecting the appropriate project management processes, inputs, tools, techniques, outputs and life cycle phases

Tailoring | Page 28

A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities

Project business case | Page 29

The documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a project.

Project benefits management plan | Page 29

The ______________________ is generally accountable for the development and maintenance of the project business case document

Project Sponsor | Page 29

The _______________________ is responsible for providing recommendations and oversight to keep the project business case, project management plan, project charter, and project benefits management plan success measures in alignment with one another and with the goals and objectives of the organization

Project Manager | Page 29

________________ lists the objectives and reasons for project initiation; it helps measure the project success at the end of the project against the project objectives

Project Business Case | Page 30

___________________ often precedes the business case, and involves understanding business goals and objectives, issues, and opportunities and recommending proposals to address them

Needs Assessment | Page 30

What are the 3 examples of criteria categories that can be used for analysis of a situation?

-Required -Desired -Optional (Page 31)

An outcome of actions, behaviors, products, services, or results that provide value to the sponsoring organization as well as to the project's intended beneficiaries

Project benefit | Page 33

The expected tangible and intangible value to be gained by the implementation of the project.

Target benefit | Page 33

How well the project benefits align to the business strategies of the organization

Strategic Alignment | Page 33

The accountable person to monitor, record, and report realized benefits throughout the time frame established in the plan

Benefits owner | Page 33

Factors expected to be in place, or to be in evidence

Assumptions | Page 33

A document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities

``` Project charter (Page 34) ```

The document that describes how the project will be executed, monitored, and controlled

Project Management Plan | Page 34

When is it possible for a project to be successful from a scope/schedule/budget viewpoint, but be unsuccessful from a business viewpoint?

-When there is a change in business needs or the market environment before the project is completed (Page 35)

Chapter 1 - Introduction : Pages 1 - 35 Flashcards

(82 cards)