Introduction to Project Management (3) Flashcards
What’s the purpose of the PMBOK Guide?
Provide and promote a common lexicon (standard) for discussing, writing, and applying Project Management practices.
What are the 5 process groups?
Initiating, Planning, Executing, Monitoring & Controlling, Closing
What’s the purpose of the Initiating process group?
Make sure you have captured all the stakeholders needs, wants, and expectations correctly - requirements gathering for the project
What’s the purpose of the Planning process group?
Establish project objectives that your team can achieve and come up with a detailed plan to achieve these objectives
What’s the purpose of the Executing process group?
Execute the project as per plan and allow for flexibility to accept project related changes
What’s the purpose of the Monitor & Control process group?
Maintain and balance scope
What’s the purpose of the Closing process group?
Meet the customer expectations. Satisfy your customer/client’s needs
What is a project?
A temporary endeavor that creates a unique product/service/result, or deliverable, even though recurring elements exist
What are the characteristics at the BEGINNING of a project?
- Cost and staffing levels are low
- Risk will be. High
- The level of uncertainty is The highest
- Probability of completing successfully is very low
- Stakeholders influence is High
What is an Operation?
An ongoing work effort meant to sustain the business; a repetitive process
Similarities: Project vs. Operation
- Planned, executed and controlled
- Resource constrained
- Performed by people
Differences: Project vs. Operation
- Project: deliverable is unique; temporary endeavor; conversion of business strategy to successful operations
- Operations: Repetitive; Ongoing work effort; sustain the business operations
Generally, strategic planning deals with at least one of three key questions:
1) “What do we do?”
2) “For whom do we do it?”
3) “How do we excel?”
What’s the relationship of Strategic Planning to Projects?
Activities that cannot be addressed within the organization’s normal operational limits are called projects.
Therefore, projects are often utilized as a means of achieving an organization’s strategic plan
Define project management?
To apply knowledge, skills, tools, and techniques to project activities to meet the project objectives
How is project management accomplished?
Through the application and integration of the 5 Project Management process groups
Who is the project manager?
The person responsible for accomplishing the project objectives
What are the three project management levels?
1) Portfolio; Executives/Directors 2) Program; Program Managers 3) Project; Project Managers
What is program management?
A group of related projects managed in a coordinated way to obtain benefits unavailable by managing them individually
What is portfolio management?
A collection of projects AND/OR programs and other work that are grouped together to facilitate effective management of that work to meet strategic objectives of the organization is called Portfolio Management
Define Organizational Project Management?
The execution of an organization’s strategies through projects by combining the systems of project management, program management and portfolio management
What is a process?
A series of actions bringing about a result
What are the characteristics of a process?
- Measurement Criteria
- Deliverables
What is a Project Management Process?
- Describe, organize and complete the work of a project
- The purpose is to initiate, plan, execute, monitor and control and close a project
- It is common to all projects
