Flashcards in PMBOK (6ed) Ch.1 Introduction Deck (18)
A Project is a temporary endeavor undertaken to create a unique:
• Service, or
Define: Project Management
Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project management is accomplished through the appropriate application and integration of project management processes identified for the project.
Define: Program Management
Program management is defined as the application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually. A program component refers to projects and other programs within a program.
Define: Portfolio Management
Portfolio management is defined as the centralized management of one or more portfolios to achieve strategic objectives. The programs or projects of the portfolio may not necessarily be interdependent or directly related.
Organizational Project Management (OPM) is defined as a framework in which portfolio, program, and project management are integrated with organizational enablers in order to achieve strategic objectives.
Define: Project Phase
A project phase is a collection of logically related project activities that culminates in the completion of one or more deliverables.
Define: Phase Gate
A phase gate is held at the end of a phase. The project's performance and progress are compared to project and business documents (project business case, project charter, project management plan, benefits management plan).
What are the 5 Project Management Process Groups?
Initiating, Planning, Executing, Monitoring & Controlling, and Closing Process Groups
What are the 10 Project Management Knowledge Areas?
Integration, Scope, Schedule, Cost, Quality, Resource, Communications, Risk, Procurement, Stakeholder
What are the generic 5 phases of a project?
Pre-Project Work, Starting the Project, Organizing and Preparing, Carrying Out the Work, Completing the Project
What are 3 typical document artifacts typically shaped and completed in the Pre-Project Work Phase?
Needs Analysis / Assessment, Business Case, Benefits Management Plan
Who creates the Project Charter?
Usually the project sponsor...
Define: Project Business Case
The Project Business Case is a documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and is used as a basis for the authorization of further project management activities. The project business case lists the objectives and reasons for project initiation and helps measure success against the project objectives.
Define: Project Management Benefits Plan
The project management benefits plan is the document that describes how and when the benefits of the project will be delivered, and describes the mechanisms that should be in place to measure those benefits.
Define: Project Benefit
A project benefit is defined as an outcome of actions, behaviors, products, services, or results that provide value to the sponsoring organization as well as to the project's intended beneficiaries.
Define: Project Charter
A project charter is defined as a document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Define: Project Management Plan
A project management plan is defined as the document that describes how the project will be executed, monitored, and controlled.