PROJECT MANAGEMENT BASICS

Question 1

What are the characteristics of a Project?

Answer 1

Projects are temporary with a defined beginning and end.

Projects have specific objectives and are unique in nature.

Question 2

Define a Program.

Answer 2

A group of related projects managed together for better coordination.

Programs aim to achieve strategic objectives.

Question 3

What components make up a Portfolio?

Answer 3

Consists of projects, programs, and sometimes operations.

Portfolios align with organizational strategies.

Question 4

What is the purpose of a Program?

Answer 4

To coordinate and manage related projects more effectively.

This enhances resource allocation and risk management.

Question 5

Why is Project Management important?

Answer 5

Ensures project requirements are met within budget, time, and quality standards.

Effective project management leads to successful project outcomes.

Question 6

What is the purpose of Program Management?

Answer 6

To decrease risks within a program and prevent conflicts.

This helps in aligning projects with strategic goals.

Question 7

When is Program Management necessary?

Answer 7

Required if it adds value to the projects within the program.

Value addition may include improved coordination and resource utilization.

Question 8

What is the need for Portfolio Management?

Answer 8

To achieve organizational success and manage risks and resources effectively.

It ensures alignment with organizational strategy.

Question 9

What is the difference between Operation and Project?

Answer 9

Operations are ongoing and repetitive, while projects are temporary and unique.

Understanding this distinction is crucial for effective management.

Question 10

What type of PMO has the highest authority?

Answer 10

Directive PMO.

Directive PMOs have the power to manage projects directly.

Question 11

What is the purpose of Organizational Governance?

Answer 11

To meet high-level strategic goals of the organization.

Governance structures ensure accountability and alignment.

Question 12

What role does PMO play in Project Governance?

Answer 12

PMO provides and implements Project Governance.

This includes establishing standards and methodologies.

Question 13

What is the authority of a Supportive PMO?

Answer 13

Has the least authority over projects.

Supportive PMOs offer guidance and support without direct control.

Question 14

Who has the most power in a Functional Organization?

Answer 14

Functional Managers.

They oversee departmental functions and resources.

Question 15

What defines a Project-Oriented Organization?

Answer 15

Project Managers have full responsibility for the project budget.

This structure emphasizes project success over functional hierarchy.

Question 16

What is a characteristic of Multi-divisional Organizations?

Answer 16

Each division operates independently.

This can lead to duplication of resources and efforts.

Question 17

What is a Hybrid Organizational Structure?

Answer 17

Has characteristics of Balanced Matrix organizations; PM Administrative Staff can be part-time or full-time.

This structure aims to blend the benefits of different organizational types.

Question 18

What is a disadvantage of Matrix Organizations?

Answer 18

Communication and coordination challenges.

These issues can lead to conflicts and inefficiencies.

Question 19

What are the advantages of a Project-Oriented Structure?

Answer 19

Highest authority for Project Manager; high sense of belonging among team members.

This can enhance motivation and accountability.

Question 20

What is one of the crucial objectives of a Project Manager in Predictive Environments?

Answer 20

Completing the project on time and within budget without scope creep.

Scope creep refers to uncontrolled changes or continuous growth in a project’s scope.

Question 21

How does a Project Manager add value?

Answer 21

Being proactive and preventing problems.

This involves anticipating risks and addressing them early.

Question 22

When is it better to involve a Project Manager?

Answer 22

Before the initiation phase.

Early involvement can lead to better project planning and execution.

Question 23

Who is responsible for the Project Charter?

Answer 23

Project Sponsor is responsible but Project Manager assists in creating the Project Charter.

The Project Charter formally authorizes the project.

Question 24

Who are Stakeholders?

Answer 24

Anyone who affects or is affected by the project.

Stakeholder management is crucial for project success.

Question 25

What is one of the major responsibilities of a Project Sponsor?

Answer 25

Financing the project and preventing unnecessary changes. ## Footnote This role is vital for maintaining project scope and budget.

Question 26

What is the Project Manager's role in Change Requests?

Answer 26

Managing the change control board. ## Footnote This involves evaluating and approving changes to the project.

Question 27

What is the difference between a Project Sponsor and a Project Manager?

Answer 27

Sponsor provides finance, Manager manages the budget. ## Footnote This delineation of roles ensures accountability.

Question 28

What is the Project Manager's role in Communication?

Answer 28

Ensuring effective coordination within the project. ## Footnote Effective communication is key to project success.

Question 29

What are the responsibilities of Project Team Members related to Risk Management?

Answer 29

Identifying risks and participating in risk identification activities. ## Footnote Team involvement enhances risk awareness and mitigation.

Question 30

What is the role of a Program Manager?

Answer 30

Manages a group of related projects to achieve strategic goals. ## Footnote This role focuses on aligning projects with organizational strategy.

Question 31

What is the difference between a Portfolio Manager and a Program Manager?

Answer 31

Portfolio Manager provides coordination between Programs, Projects, and Operations. ## Footnote This role ensures alignment of all organizational initiatives.

Question 32

What role does a Functional Manager play in Change Control?

Answer 32

Has a role in approving changes to the project. ## Footnote Their approval is necessary for significant changes.

Question 33

What is the relationship between Program Managers and Project Managers?

Answer 33

Provides coordination between the projects within the Program. ## Footnote This ensures that projects align with program objectives.

Question 34

What are the Five Process Groups in Project Management?

Answer 34

Initiating, Planning, Executing, Monitoring and Controlling, Closing. ## Footnote These groups encompass the entire project life cycle.

Question 35

What is a Predictive Life Cycle?

Answer 35

Involves creating a full detailed plan at the beginning of the project. ## Footnote This approach is often used in projects with well-defined requirements.

Question 36

How does Predictive Life Cycle differ from Adaptive Life Cycle?

Answer 36

Predictive is sequential with a detailed plan; Adaptive is iterative and evolves. ## Footnote Adaptive life cycles allow for flexibility and responsiveness to change.