Topic 2: Project, programme, and portfolio management Flashcards
(16 cards)
What is project management?
Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
What is a project?
A temporary endeavour undertaken to create a unique product, service or result, subject to progressive elaboration.
What are the features of a project?
- Has an established objective
- Has a defined life span with a beginning and an end
- Requires across-the-organisational participation
- Involves doing something never been done before
- Has specific time, cost, and performance requirements
What are the different processes that make up the project management process?
- Initiation
- Planning
- Executing
- Monitoring and Controlling
- Closing
What is the Plan-do-check-act cycle?
This is a process lifecycle management framework. As the title suggests it involves a circle of activities, with initiation at the start and closing at the end.
What do aspects require balancing for a project to succeed?
Time, Scope and Cost
What is a programme?
A series of coordinated, related, multiple projects that continue over an extended time and are intended to achieve a goal or that use the same resources.
What is a portfolio?
A portfolio is a group of unrelated projects.
What is a project management methodology?
The process used for executing the project management plan.
What are the unique features of IS projects?
- Changing technological context
- Difficulty of hiring IS personnel
- Managing user involvement
- Understanding system development methodologies
- Unique and novel solutions
- Changing project scope
- Changing technologies
What is a work breakdown structure?
A listing of the activities necessary for the completion of a project.
When is a work breakdown structure established?
During the initiation process.
What is a gantt chart?
A bar chart showing the start and end dates for the activities of a project.
What are the 3 main skill groups of a project manager?
- Technical Project Management Skill
- Leadership
- Strategic and Business Management Skill
What are the primary factors that influence project failure?
- Incomplete requirements
- Lack of user involvement
- Lack of resources
- Unrealistic expectations
- Lack of executive support
- Communications failure
What are the primary factors that influence project success?
- Management support
- User involvement
- Clear statement of objectives
- Optimization
- Skilled resources
