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Flashcards in Chapter 8 (Project Management) Deck (14)
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Definition of Project

1.Has a defined objective,
2.has a deadline,
3.requires integration of knowledge and experience from various organizations


Definition of Project Management

Causing a Planned Undertaking to Happen


What is Project Management

- Complex & numerous activities
- Unique (a one time set of events)
- Finite (begin and end date)
- Limited resources and budget
- Many people involved
- Sequenced activities
- Result: End product or service
- Summarized: a project is unique with fixed cost and time constraints.


Program Management

- Made up of several projects
- Larger in scope than a project
- Made up of a number of similar product
- Programs tend to be more permanent


Factors for Project Success

- Project Management Philosophy
(Golden Rule = Plan, Organize, Control)
- Project Management Role and Responsibility
(Project Execution, Maintain Customer Relations, Create a positive environment)
- Project Management Principles and Practices
(Define Project Objectives, Define Project execution plan, define baselines for control, manage risk, close out effectively)


Four Cornerstones of Project Management

Cost, Schedule, Scope, Quality


Gantt Chart

Shows what has to be done (activities / resource allocation) and when (the schedule)


Critical Path Method

- Identifies project priorities
- Enables schedule analysis
- Reflects project strategy
- Promotes teamwork


PERT Chart (Program Evaluation Review Technique)

- Project management tool (Statistical tool)
- Use to schedule, organize, and coordinate tasks within a project
- developed by the U.S. Navy in 1957 to manage the Polaris submarine missile program.
- Critical Path Method (CPM) was developed for project management in the private sector at about the same time.


WBS (Work Breakdown Structure)

- WBS help break down a project into manageable chunks that can be effectively estimated and supervised


Difference between GANTT Charts & PERT CHART (PROGRAM EVALUATION REVIEW Technique)

- Gantt chart present information in the format of bar chart
- PERT displays information as a network model
- GANTT charts are ideal for straightforward project with interlinking task
- GANTT charts don’t demonstrate the link that 2 tasks may have
- GANTT chart present project tasks and time allocation mainly as the only pieces of data
- PERT charts, while also including project tasks and time allocation, display dependency between tasks
- GANTT charts are easier to change as a task moves along and it comes to closer completion


Phases of Project Management

Five phases of Project Management
Define > Planning > Organize > Control > Close



- Poorly managed
- Undefined objectives and goals
- Lack of management commitment
- Lack of a solid project plan
- Poorly defined roles and responsibilities
- Inadequate requirement
- Team conflict
- Unrealistic timeframes and tasks
- Poor communication
- Politics
- Lack of prioritization and project portfolio management


PMI & Prince 2

*The Project Management Institute (PMI) is a US nonprofit professional organization for project management.
- Used in the aerospace, construction and defense industries.
*PRINCE2 emphases dividing projects into manageable and controllable stages. The owner of PRINCE2, Axelos, originated as a joint venture of the UK government and Capita.