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14 Cards in this Set

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Standard
A standard is a formal document that describes the established norms, methods, processes and practices.
Project
a) Its Temperory
b) has a start date and end date
c) Produces a service or product
d) End is reached when the project objectives or met or the project is terminated when the objectives will not be or cannot be met
Project Managment
Project Managment is the application of knowledge , skills, tools and techniques to project activities to meet the project requirements.
Process groups
There are 5 process groups
- Initiating
- Planning
-Executing
- Monitoring and Control
-Closing
Project Constraints
-Cost
-Scope
-Time
-Quality
- Budget
-Resource
-Risk
Progressive elaboration
Progressive elaboration involves continously improving and detailing a plan as more- detailed and specific information and more accurate estimates become available.
Portfolio
A portfolio refers to 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 Management
- It refers to the centralized management of one or more portfolios , which includes identifying, prioritizing, authorizing, managing and controlling project or programs and other related work to achieve specific strategic Business objectives
Program
A program is defined as a group of related Projects managed in a coordinated way to obtain benefits and control not available from managing them individually.
- A project may or may not be part of program but a program will always have projects.
Program Management
-Program Management is defined as the centralized coordinated management of a program to achieve the program;s strategic objectives and benefits.
What are the reasons for a project to happen
- Market Demand
- Startegic Opportunity/business needs
-Customer request
-Technological advance
-Legal requirements
Project managment office
-A PMO is an Organizational body or entity assigned various responsibilities related to the centralized and coordinated managment of those projects under its domain.
- The responsibilites of a PMO can range from Providing Project Management support functions to actually being responsible for the direct management of a project
Operations
Operations are an organizational function, performing the ongoing execution of activies that produce the same product or provide a repetitive service.