PM Exam 1 Flashcards
(31 cards)
Elements of a Project definition document* most important step in project plan
Purpose, Scope, Goals/objectives, success criteria, assumptions, constraints, risks, stakeholders, out-of-scope specifications, preliminary costs/schedule estimates
Purpose
why are u doing this project
scope
high level breakdown of goals and objectives
goals/objectives
what r u going to accomplish, targeted outcome
success criteria
what does success look like
Triple constraint
cost, scope, time
Project management
the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
project
is temporary and unique, defined beginning and end
operations
is not unique, it on going to sustain organization
steps of PM
initiating, planning, executing, monitoring, closing
PMBOK stands for and is what
the project management body of knowledge
A document that formally authorizes the project or phase. It should include the business need of the project and the product description
Project manager skills
business management skills, PM skills, technical knowledge skills, communication skills, leadership skills,
common mistakes of Project manager
not aligning the project with org objectives, not meeting stakeholder expectations, not delegating responsibilities not communicating effectively, not identifying risks
When is a project successful
the project can be successful even if they fail to meet textbook criteria, canceled project can still be successful
project charter( project definiton document)
the official, written acknowledgment that a
the project exists and resources will be committed to it
Project planning
how the work will be done, involves resources, work tasks, schedule/costs
Progressive Elaboration
Continuously improving and detailing a
plan as more detailed and specific
information and more accurate estimates
become available as the project
progresses
Building a Project Plan
work effort estimates, project schedule, project budget
work breakdown structure * most important for project manager*
logical breakdown and
representation of the work required by the
project (graphical or outline of tasks)
outline for WBS * the bday party hw*
Best to capture details needed for cost and schedule
development
Difference between project schedule and WBS
WBS: doesn’t show who is assigned to a task, doesn’t have when tasks will occur, does not include task dependencies (order of tasks to be performed)
Want more details in WBS
because the more accurate work estimates, and better level of control, and identifying risks
estimating work *baking a cake
need to identify work required, resources needed, and time to be able to identify risks
estimate accuracy levels
ROM: -25-75% initiating
Budget: -10-25% planning
definitive estimate: -5-10% planning
