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22 Cards in this Set

  • Front
  • Back
The primary purpose of the PMBOK® Guide
To identify that subset of the Project Management Body of Knowledge that is generally recognized as good practice.
What is a Project?
A project is a temporary endeavor undertaken to create a unique product, service, or result.
Progressive Elaboration
Progressive elaboration means developing in steps, and continuing by increments. For Example, the project scope will be broadly described early in the project and made more explicit and detailed as the project team develops a better and more complete understanding of the objectives and deliverables.
Common characterstics between projects and operations
1) Performed by people
2) Constrained by limited
3) Planned, executed and
Difference between projects and operations
1) operations are ongoing and repetitive. projects are temporary and unique

2) The purpose of a project is to attain its objective and then terminate. The objective of an ongoing operation is to sustain the business
3)Project concludes when its specific objectives have been attained. Operations adopt a new set of objectives and the work continues.
What is Project Management?
Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements.
what are the six project management processes?
1) Initiation
2) Planning
3) Executing
4) Monitoring
5) Controlling
6) Closing
Project Manager
The project manager is the person responsible for accomplishing the project objectives.
Managing a project includes what?
Managing a project includes,

1) Identifying requirements
2) Establishing clear and achievable objectives
3) Balancing the competing demands for quality, scope, time and cost
4) Adapting the Specifications, plans, and approach to the different concerns and expectations of the various stakeholders.
What is the 'triple constraint' in project management?
Triple constraints are:
1) project scope
2) Time
3) Cost in managing competing project requirements
4) Risk is also one of the factors
Project management team requires to understand the project management effectively
-> The Project Management Body of Knowledge
-> Application area knowledge, standards, and regulations
-> Understanding the project environment
-> General management knowledge and skills
->Interpersonal skills
What is a Program?
A program is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually
Give example of repetetiveness of a Program?
Programs also involve a series of repetitive or cyclical undertakings
Publishing a newspaper or magazine is also a program with each individual issue managed as a project
What is the difference between program mgmt and project mgmt?
Program management is the centralized, coordinated management of a group of projects to achieve the program's strategic objectives and benefits
What is a Portfolio and management?
A portfolio 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
Goals of Portfolio Management?
1) To maximize the value of the portfolio by careful examination of candidate projects and programs for inclusion in the portfolio and the timely exclusion of projects not meeting the portfolios strategic objectives

2) To balance the portfolio among incremental and radical investments and for efficient use of resources
What is Project Management Office (PMO)?
A PMO is an organizational unit to centralize and coordinate the management of projects under its domain
Responsibilities of PMO
The PMO focuses on the
-> coordinated planning,
-> prioritization and
-> execution of projects and subprojects
that are tied to the parent organizations or clients overall business objectives.
Responsibilities of PMO
Providing project management support functions in the form of
standardized policies, and
to actual direct management and responsibility for achieving the project objectives.
Key Features of the PMO
1) Shared and coordinated resources across all projects
2) Identification and development of project management methodology, best practices, and standards
3) Clearinghouse and management for project policies, procedures, templates, and other shared documentation
4) Centralized configuration management for all projects
5) Centralized repository and management for both shared and unique risks for all projects
Key Features of the PMO
6) Central office for operation and management of project tools
7) Central coordination of communication management
8) A mentoring platform for project managers
9) Central monitoring of all PMO project timelines and budgets
10) Coordination of overall project quality standards
Difference between Project managers and PMO ?
*** ->Different objectives, driven by different requirements

*** ->Project Manager - responsible for delivering specific project objectives within the constraints of the project
->PMO - Is an org structure with specific mandates that can include an enterprisewide perspective

*** -> PM focuses on the specified project objectives
-> PMO manages major program scope changes and can view them as potential opportunities to better achieve business objectives.

*** -> PM controls the assigned project resources to best meet project objectives
-> PMO optimizes the use of shared organizational resources across all projects.

*** -> PM manages the scope, schedule, cost, and quality of the products of the work packages
-> PMO manages overall risk, overall opportunity, and the interdependencies among projects

*** -> PM reports on project progress and other project specific information
-> PMO provides consolidated reporting and an enterprise view of projects under its purview.