Key PM Terms

Question 1

Define a Project

Answer 1

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

Question 2

What is the duration of a project ( long or short?)

Answer 2

A project could be simple/ short or long term however it must be temporary ( has a start/ end date)

Question 3

Define an operation

Answer 3

Operations deal with the day-to day work of a business.

Question 4

What’s the difference between operations and a project

Answer 4

Operations: are ongoing
Projects: Are temporary

Question 5

Define Progressive Elaboration

Answer 5

Also known as “Rolling Wave Planning” because as time goes things get more detailed

Question 6

Define Project Management

Answer 6

The applications of knowledge, skills, tools, and techniques to meet project requirements.

Question 7

What is the ultimate goal of the managing a project?

Answer 7

Goal: To get the work done within a specific budget and timeframe

Question 8

What are the three different approaches for managing a project?

Answer 8

1: Predictive
2: Agile
3: Hybrid

Question 9

3 types of Approaches:
Define a Predictive project management

Answer 9

also known as traditional, waterfall, or plan driven project.
-most of the planning is done upfront then the rest of the time you actually execute the plan to complete the work

Question 10

3 types of Approaches:
Define an Agile project management

Answer 10

also known as adaptive or change- driven
-the product is built in small increments vs. a traditional project (which is planned upfront)
-agile approach supports changes through the entire project allowing customers to add requirements w/o going through a change management process

Question 11

3 types of Approaches:
Define a Hybrid project management

Answer 11

organization combines both the predictive (traditional) and agile methods for managing projects

Question 12

What is the value of projects?

Answer 12

to provide something that customers can use and benefit from. Value can be tangible (money) or intangible (brand reputation)

Question 13

What are processes?

Answer 13

they are made up of ITTO’S ( inputs, tools, techniques, and outputs) that are combined to create a specific activity on a project and create a specific output

Question 14

ITTO’s: Define inputs

Answer 14

things that are needed to start the process

Question 15

ITTO’s: Define Tools and Techniques

Answer 15

things that help you execute a process

Question 16

ITTO’s: Define Outputs

Answer 16

what you get out of the process

Question 17

How many processes does a project will go through in order to go from start to finish

Answer 17

49

Question 18

Define a Phase

Answer 18

a division within the project where extra control is needed to effectively manage the completion of one or more deliverables

Question 19

What are the (5) process groups each phase has to go through in order?

Answer 19

1.) Initiating
2.) Planning
3.) Executing
4.) Monitoring and controlling
5.) Closing

Question 20

What is a deliverable?

Answer 20

Its apart of every product that is presented to the customer/stakeholder for acceptance

Question 21

What is a project life cycle? Is it predictive or adaptive?

Answer 21

It’s a series of phases a project will go through from start to finish.it can be predictive or adaptive.

Question 22

What is a process group and list out the five groups used by the project manager.

Answer 22

It’s a set of processes the project manager may be utilizing at a certain time.
1. Initiating.
2. Planning
3 executing
4. Monitoring controlling.
5. Closing.

Question 23

What is the difference between projects programs and portfolios?

Answer 23

A program is a collection of projects containing a common goal managed by the p.m.
A portfolio is a collection of projects and programs used to achieve a business goal. Also managed by the p.m..
In summary programs is a collection of projects with a common goal generally used for larger endeavors

Question 24

What are the baseline used for all projects? What are the baseline used for?

Answer 24

Scope, time and cost. lines are used to reference if your project is on track from the original plan

Question 25

What is the difference between regulations and standards and provide examples?

Answer 25

Regulations are official documents that provide guidelines that must be followed example HIPAA Standards is approved by a recognized body that provides guidelines example Pembok guide

Question 26

What is a system and provide an example?

Answer 26

It includes all former procedures and tools put in place to manage something example bamboo HR @BFFE

Question 27

What is project governance?

Answer 27

The framework, functions, and processes that a company will follow in order to complete a project. This is usually developed internally in a business to complete projects and make decisions about them.

Question 28

What is a PMO and what does it stand for?

Answer 28

Project management office provides guidance and support for all project managers in the company a.k.a. the PM best resource

Question 29

What is the difference between a supportive controlling and directive PMO?

Answer 29

Supportive PMO is just there to support the project manager by providing templates and training Controlling PMO will support the project manager by giving them a particular framework they need to follow and templates they will have to use A directive PMO will direct the project manager on what they should be doing as a generally is in control of the project

Question 30

What is the stakeholder?

Answer 30

Any individual or business that may be positively or negatively affected by the project a.k.a. anyone on the project or associated with it

Question 31

List the 12 examples of project stakeholders and their roles

Answer 31

Sponsor-the person that pays for the project Customer and users-the people that will use the project deliverables Sellers companies that provide supplies or services to the project usually external Organizational groups-internal entities that are affected by the project activities like HR sales legal Functional managers-individuals who are the head of different organizational functions Senior management-responsible for strategic plans and goals of the company program manager-responsible for the program they manage and managing the project manager Project team-the ones that do the work Project manager responsible for the project outcome project coordinator- a step down from project manager here she cannot make budget decisions, but can assign resources Project expeditor-Help to organize project work, but has no power or responsibility to follow budget with no formal authority Product owner-usually found on an agile project who prioritize the product list of features

Question 32

What does the organizational structure help to do?

Answer 32

Determine the power and authority level of the project manager within the company

Question 33

What are the six different types of organizational structures you’ll find in a company

Answer 33

Organic or simple Virtual Functional organization Project oriented Matrix (weak, balanced, strong, hybrid)

Question 34

From the least amount of power ( strong functional manager) to the most amount of power (strong project manager) List the five types of organizational structures in order

Answer 34

Functional, weak, matrix, balance, matrix, strong matrix, project oriented

Question 35

Explain the role of a project manager in organic or simple organizational structure

Answer 35

Usually evolve, small businesses where the role of the project manager really does not exist often times there part time

Question 36

Explain the virtual structure of a project manager in an organizational structure

Answer 36

Project manager is done virtually using different types of computer. Technology authority is low to moderate.

Question 37

Describe a the role of a project manager in a functional organizational structure

Answer 37

The project manager has little power over the resources which are usually controlled and managed by the functional manager

Question 38

Describe the role of a project manager in a project oriented, organizational structure

Answer 38

The project manager controls all of the resources 100% of the time this is a full-time position

Question 39

What are the three types of matrix you’ll find an organizational structures going from least to greatest

Answer 39

Week matrix-the p.m. has a little more power than they did in a functional organization however, the authority is relatively low and still managed by the functional manager Balance matrix -the PM power is almost equal to the functional managers for the controller resources Strong matrix -has most of the power over resources, there is a functional manager, however they have very little power similar to project oriented companies

Question 40

Describe a hybrid organizational structure

Answer 40

When a company uses more than one of the different structures

Question 41

What are some common constraints that you’ll find on a project?

Answer 41

All projects are constrained by scope, time, cost, quality, resources, and risk

Question 42

On the exam, what type of matrix will most of the questions be referring to?

Answer 42

You will find questions based on a strong matrix and less otherwise notated in the question

Question 43

What is a product lifecycle?

Answer 43

A cycle that a product goes through from start to finish buying the product installing it, maintaining it and disposing it

Question 44

What is a project lifecycle

Answer 44

The phase is that a project goes through from initiating the project to its closing. It’s the work that’s needed to complete a deliverable.

Question 45

How do you know if a project is successful?

Answer 45

Project success is measured by finishing the project within a given scope cost time, quality resources, and risk