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Flashcards in framework Deck (133):
1

5 PROGRAM LIFECYCLE PHASES

1. Pre-Program Prep
2. Initiation
3. Setup
4. Delivery
5. Closure

2

ANALYZE PORTFOLIO RISKS

The process of prioritizing risks based on probability of occurrence, effect on portfolio goals, organizational and stakeholder risk tolerance, and other factors.

3

AUTHORITY

The agreed upon ability to assign resources, makes decisions, and spend funding for programs or projects

4

AUTHORIZATION

Approval to begin work on a component of the balanced portfolio; can include activities associated with funding and communication of work associated with the portfolio.

5

AUTHORIZE COMPONENTS

The process of authorizing the commencement of work for components of the balanced portfolio; can include activities asscociated with funding and communication of work associated with the portfolio.

6

BALANCE PORTFOLIO

The process of organizing prioritized components of a portfilio in the most efficient and effective way.

7

BENEFIT

Improvement to organizational management; e.g., new forms of business, more sales, reduced inefficiency, or reduced operations costs

8

BENEFITS MANAGEMENT

Administration and supervision of activities that define, create, maximize, and sustain benefits as a result of implemented programs

9

BENEFITS REALIZATION PLAN

Component of the program management plan that details program benefits and the manner in which they will be completed

10

BUSINESS CASE

A memorialized economic feasibility study that explores the confirmation of component benefits; fequently used as the premise to authorize program or project management activities

11

BUSINESS CASE

Document that helps analyze components of a portfolio for approval and funding.

12

BUSINESS OUTCOME

Monetary result of implementing the organization?s strategic plan; e.g., maximizing revenue or opportunity, saving costs, eliminating wst, or maximizing employee efficiency

13

CAPACITY

Resources (financing, physical, people, etc) that a copany assigns to portfolio management to approve, pay for, and execute the components.

14

CATEGORIZE COMPONENTS

The process of grouping together various components to help with decision-making.

15

CATEGORY

Description of components that make up a portfolio; categorization of the components helps to determine that they align strategically.

16

CLASS

Descriptor that groups a potential component as a business case, portfolio, project, program, or other type of work such as operations

17

CLOSING PROCESSES

Activities associated with the formal completion ofr termination of the work of a phase or program; can include transferring the product, service, or result to parties that will sustain it or canceling a closed program.

18

CO-LOCATION

a team-building technique in which team members are located together or as close to each other as possible

19

COMMUNICATE PORTFOLIO ADJUSTMENT

The process of conveying portfolio changes to stakeholders; the portfolio management team must convey the changes in a manner that ensures an unambiguous understanding of the changes and their impact.

20

COMPONENT

Piece of a portfolio such as a program, project, business case, or other item that fits the definition of component.

21

CONTROL

Activities associated with comparing baseline to actual performance; can include variance and trend analysis, process improvements, altenratives to current solutions, and recommended corrective and preventitive action as applicable

22

CONTROL

Activities associated with comparing baseline to actual performance; can include variance and trend analysis, proces improvements, alternatives to current solutions, and recommended corrective and preventitive action as applicable.

23

COST BENEFIT ANALYSIS

A financial assessment instrument utilitzed to determine viability by comparing beneits to costs.

24

CRITERIA

standards to which project variables are compared for acceptability

25

CUSTOMER

The entity that utilizes the benfits, products, services, or results of the program

26

DEVELOP PORTFOLIO RISK RESPONSES

The process of evolving responses to portfolio risks, both opportunities and threats, and assigning resonsiblity for the risks

27

EFFECT

An event or condition that might occur in the future and, if it did occur, would affect a portfolio?s goal.

28

ENTERPRISE

A company, business, or other formal structure that encompasses a business function

29

ENTERPRISE ENVIRONMENTAL FACTORS

Any internal or external organization vairables that can influence the success of the program or project; variables could include company culture, the busines market, technology, personnel, etc.

30

EVALUATE COMPONENTS

The process of scoring and assessing proposed components for further decision-making using key criteria and associated weights.

31

EXECUTING PROCESSES

Activities associated with execution of the program management plan to achieve the goals of the program as they are defined in the scope statement

32

FEASIBILITY STUDY

A financial assessment instrument utilized when considering the viability of a proposed program or project.

33

FUNCTIONAL MANAGER

a manager of a department or unit in a functional organization. Responsible for the resources performing the work.

34

FUNCTIONAL ORGANIZATIONAL STRUCTURE

A structure within a company where people are grouped by similar skill sets; e.g., accounting, marketing, enginerring

35

PURPOSE OF HIGH-LEVEL FINANCIAL AND NON-FINANCIAL BENEFITS REGARDING FUNDING

You must do show benefits to receive initial funding, but also during the program to maintain funding for the program and components

36

IDENTIFY COMPONENTS

The process of documenting all components, current and proposed, as potential components for categorization.

37

IDENTIFY PORTFOLIO RISKS

Process of identifying and documenting risks to the portfolio

38

IMPACT

A metric associated with the effect of risk

39

INFLUENCER

a person or organization that is not necessarily directly related to the project but can influence the project positively or negatively

40

INITIATING PROCESSES

Activities asscoiated with the authorization of new work of a phase or program or the continuance of a stopped or delayed program

41

INPUT

Any item associated with the program or project that is required for the process to continue; can be an output from a different process.

42

INVENTORY

All components, current and propsoed, properly documented for use in portfolio management decision making.

43

KEY CRITERIA

Metrics used to evaluate alignment with strategic goals.

44

KEY DESCRIPTOR

Characteristic used to classify components for further decision-making; e.g., scope, schedule, budget, actual performance, priority

45

KEY INDICATOR

Variable that makes it possible to observe how a component of the portfolio measures against baseline performance

46

MANAGEMENT BY PROJECTS

performing day-to-day operations using a project management approach

47

MATRIX ORG STRUCTURE

a structure within a company where people are organized by and report to a combination of project and functional managers

48

MATURE PMO SIGNS

- Forma Program Selection Process
- Portfolio review board or Exec Steering Group issue program mandate (defines strat objectives and expected benefits)
- Mandate confirms commitment

49

MECHANISM

Method to perform a process associated with portfolios, programs, or pojrects; can be considered or associated with a too or technique

50

METHODOLOGY

a set of procedures used in project management

51

MONITOR AND CONTROL PORTFOLIO RISKS

The process of tracking and regulating risks to the portfolio using such techniques as variance and trend analysis; risks, assumptions, ris management policiies and procedures and contingency reserves are all considered

52

MONITORING & CONTROLLING PROCESSES

Activities associated with measuring progress and adjusting the program management plan via corrective action to ensure tha tprogram objectives are completed successfully

53

MULTI-PROJECT MANAGEMENT

Those aspects of program management associated with initiating and coordinating the activities of multiple projects and the management of project managers.

54

NEW COMPONENT

Component, such as a program or proje ct, that is integrated into an existing portfolio

55

OPERATIONAL MANAGEMENT

The ongoing organizational activities associated with supporting function elements, as opposed to project elements. Operational management also includes support of products that the organizational has created through project activity

56

OPERATIONS

the day-to-day repeatable activities that a company performs

57

ORGANIZATION

a group of people formed for the purpose of perforing work wihtin a company or enterprise

58

ORGANIZATIONAL GOVERNANCE

Methods an organization uses to iplement its strategic goals through operations and to ensure that there is no infringement of its stakeholders' rights

59

OTHER WORK

Work that meets an organization's definition of a component, yet cannot be clssified as a business case, portfolio, program, or project

60

OUTPUT

Result of a process, program or project, typically a product, service, result, or benefit; can also be an input to other processes

61

PERFORMING ORGANIZATION

Entity (company, division, group) that has people direclty involved in the work of the portfolio, program, or project

62

PHASE GATE REVIEW

Activity of reviewing a phase of a program at the end of the phase to decide if it should continue, be adjusted, or be cancelled; the review is typcally authorized by a steering committee or governance board

- Review planned vs actual benefits
- Reasons for deviations
- Recommendations on how to bridge gaps
Program & Projects align with org strategy

63

PHASE GATES

Process decision points, specifically: continue, continue with change, or stop. A review process at the end of a program phase where an oversight group, such as a program board or steering committee, decides to continue, continue with modification, or stop a program

64

PLANNING PROCESSES

Activities that involve defining the program scope, developing the program management plan, and identifying and scheduling the work that occurs in the program

65

PORTFOLIO

Group of programs where the projects are related only by common funding, technology, stakeholders, or resources, client, seller

66

PORTFOLIO MANAGEMENT

Aligns portfolio of programs & projects to strategic objectives. All approved components must support business objectives.

67

PORTFOLIO MANAGEMENT COMMUNICATION PLAN

Plan that specifies needs, requirements, frequency, and recipients of informational communication associated with the portfolio management process

68

PORTFOLIO MANAGEMENT PLAN

The document that describes the approach to organizing, monitoring, and controlling a portfolio; considers governance precepts and the aligning process

69

PORTFOLIO RISK

An event or condition that might occur in the future and, if it did occur, would affect a portfolio?s goal.

70

POTENTIAL COMPONENT

Work that qualifies to be a component, but has not yet been authorized to be part of the portfolio

71

PRIORITIZE COMPONENTS

The process of ranking components within a portfolio according to their evaluation scores and other criteria that management deems relevant

72

PROCESS

A set or series of actions conducted to some end, such as to create a specific product, service or result.

73

PRODUCT

the measurable, definable work of the project

74

PRODUCT LIFE CYCLE

the generally sequential phases of a product

75

PRODUCT LIFECYCLE PHASES


1. Conception
2. Design
3. Manufacturing
4. Service
5. Divestment

76

PROGRAM

Collection of proejcts of similar work; can include activities or elements that lie outside the scope of the individual projects but are releated in some way to the objectives of the program.

77

PROGRAM CHARTER

The foundational document which states the main details of the program; typically includes - Scope, Constraints & Assumptions, time and cost goals, justification for the program, description of the PgM authority

78

PROGRAM MANAGEMENT

The centralized coordinated management of a program to achieve the program’s strategic objectives and benefits.

Administration of program component and acitvities in a coordinate way to achieve results superior than those attained through separate component management

79

PROGRAM MANAGEMENT OFFICE

Centralized coordination and supervision of programs or porects to facilitate th sharing of resources, methodologies, tools and techniques, etc.

80

PROGRAM MANAGEMENT PLAN

All documents required to manage the program; includes documents such as the financial plan, the transition plan, the resource plan, the audit plan, and the benefits realization plan. The program management plan is distinct and separate from the project management plans required to manage the individual projects within the program

81

PROGRAM MANAGEMENT PROCESS GROUP

Group of processes that complete a program; Initiating, Planning, Executing, Monitoring and Controlling, and Closing

82

PROGRAM MANAGEMENT PROCESSES

Activities associated with management of programs via inputs, outputs, tools and techniques, and control mechanisms ensure desired results

83

PROGRAM STAKEHOLDER

People and groups who are involved in programs and are generally impacted, either positively or negatively, y the work of a program

84

PROGRESSIVE ELABORATION

the process of beginning a project and, as more information is discovered, adjusting the plan to reflect the new information and progress

85

PROJECT

a temporary undertaking to creat a unique product, service, or result

86

PROJECT CHARTER

the foundational document which incorporates the main details of the project; the document typically includes the scope of the project, any constraints and assumptions including time and cost goals, the justification for the project, and the description of project manager authority

87

PROJECT CLOSING PROCESSES

activities during which formal acceptnace is attained and completion procedures are undertaken to close either a phase or the project itself

88

PROJECT CUSTOMER

The individual, group, or company that will own the work of the project when it is complete

89

PROJECT EXECUTING PROCESSES

The coordination of personnel and additional resources to implement the project management plan and create the deliverables of the project

90

PROJECT INITIATING PROCESSES

the beginning processes in a project which occur prior to planning

91

PROJECT INITIATION

the process that can result in the authorization of a project

92

PROJECT LIFE CYCLE

the process of completing work on the project which typically coexists with the project management life cycle; note that it is not the projct management of the work, but the work process iself e.g., the building process of creating a house or developing a computer program

93

PROJECT MANAGEMENT

an approach to meeting project objectives by utilizing defined methodology which includes knowledge, skills, tools, and techniques

94

PROJECT MANAGEMENT BODY OF KNOWLEDGE

knowledge wihtin the profession of project management

95

PROJECT MANAGEMENT OFFICE

centralized project management for a company; can be a centralized group of project managers or the office that standardizes policy or procedures

96

PROJECT MANAGEMENT PROCESS GROUP

the classification of the project management processes into the initiating, planning, executing, monitoring and controlling, or closing process groups

97

PROJECT MANAGEMENT SYSTEM

the elements needed to manage a project; processes, tools, methods, etc

98

PROJECT MANAGER

the person responsible for ensuring the project objectives are met

99

PROJECT MONITORING AND CONTROLLING PROCESSES

Actions to make sure the project objectives are completed successfully

100

PROJECT PHASE

a group of project activities making up a piece of the project that interrelates with other pieces; together project phases make up the project

101

PROJECT SPONSOR

the person or group providing the financial resources for the project

102

PROJECTIZED ORGANIZATION

an org which authorizes the project manager to assign resources to the project, extablish priorities, and direct the work of the project

103

REVIEW AND REPORT PORTFOLIO PERFORMANCE

the process of analyzing and disclosing portfolio performance information to ensure strategic alignment and adequate utilization of resources

104

ROADMAP

OUTPUT of Initiate Program Process.

A chronological representation of a program’s intention for  achieving the goals; includes strategic reasons for the work, key milestones, key decision points, and the key dependencies of major milestones, challenges and risks.

CREATED: During Initiation Phase and part of the Charter

USED as a baseline for program definition, planning, and execution.

105

ROLE

a specific function performed by a member of a project team with defined behaviors and activities

106

SCORING MODEL

Metrics (such as weighted criteria and key indicators) used in prioritizing components within a portfolio

107

SELECT COMPONENTS

The process of moving components from evaluation to prioritization according to evaluation scores

108

SERVICE

work performed which does not result in a physical product

109

SKILL

the ability to execute project-related activities based on individual subject matter expertiese and capabilities

110

SPONSOR

Individual or business unit that pays for the program or project and typically owns the results when the work is done

111

STAKEHOLDER

the person or entity whose interests are positively or negatively affected by the project or whose influence can positively or negatively affect the project

112

STANDARD

an established norm or requirements

113

STEERING COMMITTEE

Group that ensures program goals are attained and that supports the program in areas such as risks and issues; also called a Program Governance Board

114

STRATEGIC DIRECTIVE

A document that formally expresses the organization?s concept, vision, and mission for the program and its expected benefits. It may be written either at a high level or detailed. Formally expresses org: concept, vision, mission, intended benefits

115

STRATEGIC GOAL

Intended achievement (business and cultural) within a specific time frame, usually with reference to specific metrics

116

STRATEGIC PLAN

Document that explains the mission and vision, plus the plan for achieving them; also includes goals and objectives for the time period specified in the document

117

STRATEGIC PLANNING

Long-term planning by a company (usually 3-5 years in the future)

118

STRATEGIC PROGRAM MGMT (DEFINING PROGRAMS) KEY TASKS (10)

1. Define Objectives, requirements, risks & ensure aligns with org strategy

2. Create High-level roadmap with milestones and prelim estimates for Exec Sponsor approval (in Bus Case)

3. Define roadmap/framework (in Bus Case)

4. Define mission statement by understanding stakeholder concerns & expectations. Set direction to address those. (in Bus Case)

5. Determine if Org is capable of being successful - is it ready?

6. ID Benefits via market analysis, CBA, etc to develop prelim scope & benefits realization plan (for charter)

7. Est high level financial and non-financial benefits to obtain/maintain funding authorization and prioritize projects

8. Eval objectives: regulatory/ legal constraints, social impacts, sustainability, cultural considerations, political climate, and ethical concerns to ensure stakeholder alignment with deliverables

9. Obtain approval of Charter

10. ID & Eval integration opportunities to benefits desires across the orgs

11. Exploit strategic opportunities in order to maximize benefits

119

SUBPHASE

a division of a phase or project

120

SUBPROJECT

a smaller piece of the project created through the decomposition process

121

SUSTAINMENT

Action or agreement undertaken to ensure that customers continue to receive benefits from products, services, or results of a program

122

TANGIBLE COST OR BENEFIT

Easily measurable cost or benefit of a program or project; measured in dollars

123

TECHNIQUE

a procedure executed by a resource to complete the activities on the project

124

TEMPLATE

A partially filled-out document that can serve as a shell for the completion of program or project documents

125

TIGHT MATRIX

a phrase that describes a war room or close environment for the team; can also be uses as a noise answer on org related questions

126

TOLERANCE USER

the person, division, or cmpany that will be the user or owner of the product when the project is complete

127

TOOL

Utensil, device, application, or instrument used to create a product, service, or result; e.g., document templates, application programming interfaces, table saws, drafting software

128

TREND ANALYSIS

An approach that attempts to forecast future results based on historical information

129

VARIANCE ANALYSIS

An approach for measuring the variance associated with the scope, time, or cost of the program or project.

130

WAR ROOM

a room shared by project personnel that can be used for planning, conducting meetins, and displaying charts, graphs, and various other project information.

131

WEIGHT

Multiplication factor that indicates the importance of key criteria used in a scoring model; e.g., higher number equals higher level of importance

132

FOCUS GROUPS

Used in Requirements Analysis to assemble stakeholders and ask quetions about attitudes to products, service, concepts.

133

PROGRAM SELECTION KEY FACTORS TO CONSIDER (IN ORDER OF IMPORTANCE)

1. Strategic Objectives Alignment

2. Expected Benefits

3. Key Resource needs

4. Prelim Budget Estimate