PMBOK Chapter 1 - Introduction Flashcards Preview

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Flashcards in PMBOK Chapter 1 - Introduction Deck (19):
1

What is a standard?

a formal document that describes established norms, methods, processes and practices

2

What is a project?

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

3

What is a portfolio?

a collection of projects, programs, subportfolios and operations managed as a group to achieve strategic objectives

4

What are programs?

a group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually

5

What is project management?

the application of knowledge, skills, tools and techniques to project activities to meet the project requirements

6

What is progressive elaboration?

continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available

7

What is organizational project management (OPM)?

a strategy execution framework utilizing project, program and portfolio management

8

What is program management?

the application of knowledge, skills, tools and techniques to a program in order to meet program requirements

9

What is portfolio management?

the centralized management of one or more portfolios to achieve strategic objectives

10

What is a Project Management Office (PMO)?

a management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools and techniques

11

Three Types of PMO Structures:

1) Supportive -- provide a consultative role to projects by supplying templates, best practices, training etc
2) Controlling -- provide support and require compliance through various means. the degree of control provided by the PMO is moderate
3) Directive -- take control of the projects by directly managing the projects. degree of control provided by the PMO is high

12

What is the primary function of the PMO?

to support project managers in a variety of ways

13

What is operations management?

area of management concerned with ongoing production of goods and/or services.

14

What are operations?

ongoing endeavors that produce repetitive outputs, with resources assigned to do basically the same set of tasks according to the standards institutionalized in a product life cycle

15

What are project-based organizations (PBOs)?

refer to various organizational forms that create temporary systems for carrying out their work

16

What is business value?

the entire value of the business; the total sum of all tangible and intangible elements

17

What is a project manager?

the person assigned by the performing organization to lead the team that is responsible for achieving the project objectives

18

What is a functional manager focused on?

providing management oversight for a functional or a business unit, and operations managers are responsible for ensuring that business operations are efficient

19

Effective project management requires that the project manager possess the following competencies:

1) Knowledge -- refers to what the project manager knows about project management
2) Performance -- refers to what the project manager is able to do or accomplish while applying his or her project management knowledge
3) Personal -- refers to how the project management behaves when performing the project or related activity