Project Management Framework & Processes Part 1 Flashcards
(30 cards)
is a temporary endeavor undertaken to create a unique product, service, or result
Project
Project characteristics
- Temporary (has a definite beginning and end)
- Unique
- Progressive elaboration
Reasons for starting a project
- A market demand
- An organizational need
- A customer request
- A technological advance
- A legal requirement
It is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually
Program
is a collection of projects or programs and other work that are
grouped together to facilitate effective management of that work to meet strategic
business objectives
Portfolio
- Projects are frequently divided into more manageable components or subprojects
- Can be broken up on the basis of project phases, skills, outsourcing needs etc.
Sub-project
- is the application of knowledge, skills, tools
and techniques to project activities to meet project requirements - It is all about integration
Project Management
It is an organizational unit to
centralize and coordinate the management of projects under its
domain
project management office (PMO)
Three Roles of PMO
Supportive
Controlling
Directive
Provides policies, methodologies and templates for managing
projects, as well as training and guidance
Supportive
Provides support as well as requires compliance
Controlling
Provides project managers to manage projects
Directive
All the following are characteristics of a project
EXCEPT ?
Temporary
Definite beginning and end
Interrelated activities
Repeats itself every month
Correct answer: D
A project manager is managing his 2nd project. It started 1 month after the first
and both are ongoing. Though his 1st project is small, this one seems to be
growing in size every day. As each day passes, the project manager is
beginning to feel more and more in need of help. The project manager has
recently heard that there was another project in the company last year that
is similar to his 2nd project. What should he do ?
Contact the other project manager and ask for assistance
Obtain historical records and guidance from the PMO
Wait to see if the project is impacted by the growth in scope
Make sure the scope for project is agreed to by all the stakeholders
Correct answer: B
A management philosophy that says an
organization should be managed by objectives.
Works only if management supports it.
Management By Objectives (MBO)
Three Steps of MBO
- Establish unambiguous and realistic objectives
- Periodically evaluate if objectives are being met
- Implement corrective action
These are the things that every Project Manager has to juggle around as part of the Project Management activities
Competing Project Constraints
Competing Project Constraints are:
Schedule
Budget
Scope
Risk
Quality
Resources
- Individuals/organizations actively
involved in the project or impact the
project. - Individuals/organizations whose interest (+ve or -ve) may be affected as a result of project execution or completion
Stakeholders
Stakeholder management includes:
Identifying all stakeholders as early as
possible
Determine all of their requirements
Determine their expectations (and
possibly convert them into
requirements)
Communicate with them
Manage their influence
Competences of a Project Manager
- Technical
- Leadership
- Strategic and business management
All of the following are parts of team’s stakeholder
management effort EXCEPT ?
Giving stakeholders extras
Identifying stakeholders
Determining stakeholders’ needs
Managing stakeholders’ expectations
Correct answer: A
Types of Organizational Structure
- Functional
- Projectized
- Matrix
- Composite
Grouped by areas of specialization (e.g.
finance, marketing)
Projects occur within a single
department
Cross-department communication has
to go through the department heads
Team members report to only
“One” supervisor
Clearly defined career paths in areas of
work specialization
Specialized resources
No career path in project management
Functional Organization
