Chapter 1 & 2- Intro to Project Management and the environment in which projects operates

kelly nascimento
Flashcards by , created 2 months ago

key concepts of PMI's PMBOK chapter 1

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kelly nascimento
Created by kelly nascimento 2 months ago
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Question Answer
Project Temporary endeavor (well-defined beginning and end) to produce a unique product, service or result (that can last even after project closure)
Deliverable any unique and verifiable (you can metrify) product, result or capability to perform a service. The output of a process, phase or project.
Business Value the net quantifiable benefit derived from a business endeavor
Project Business value The benefit resulted from a specific project to its stakeholders
4 fundamental factors to initiate a project - meet regulatory, legal or social requirements -satisfy stakeholders' requests/needs -implement/change business or technological strategies -create/improve/fix products, processes or services
Project initiation context Must be in line with organizational objectives and production of value of a project
A project is A means to successfully deal with regulatory requirements, business needs, change processes, creation of new products or services
PMBOK base to create methodologies, policies, procedures, rules, tools, and techniques necessary to project management (set of best practices to project management)
methodology system of practices, techniques, procedures and rules
A project can have repetitive elements but it's unique due to its key features and objectives
stakeholder Anyone/any entity impacted/interested in the project
Project Management Application of knowledge, skills, tools and techniques to project activities to meet project requirements. It is: - way to create benefits and value - means to maintain competitiveness
Program group of related projects, subsidiary programs, and program activities managed coordinately to obtain benefits not available by managing them individually
Portfolio projects, programs, subsidiary portfolios and operations (ongoing at the same time and not necessarily related) managed as a group to achieve strategic objectives
Big (mega) project - benefits go over 1bi - impacts over 1 mi people - takes over 1 year to be finished
ways to manage a project - autonomously - as part of a program -as part of a portfolio
the goal of project and program management do things right
the goal of portfolio management do the right projects and programs
Project life cycle Set of phases that a project passes from its start to completion. It includes all phases required to create a product, service, result and those can be overlapping: start, preparation, execution, finish
product life cycle set of sequential and non overlapping phases: initiation, design, launch, manufacture, obsolescence
Project life cycles can be Predictive or adaptative
Predictive (waterfall) life cycle product or deliverables are defined at the beginning of a project (scope managed carefully)
Adaptative life cycle product is developed over multiple iterations and the details are defined for each iteration as the iteration begins
Development life cycles -predictive -iterative -incremental -adaptative -hybrid
predictive development life cycle scope, time, cost determined early. Most of the things are pretty much written in rock. This approach, however, results in plenty of rework and thus increased cost.
iterative development life cycle scope determined early; time and costs modified as understanding increases. Activities are performed in Iterations. At the end of each iteration, a ‘usable’ deliverable is created. This approach is used for projects that are large or complex, where risks are high, the scope is not completely known upfront and is discovered as the project progresses.
incremental development life cycle successively add functionality within a predetermined timeframe. the deliverables are created in a series of incremental steps, but the ‘usable’ deliverable is available only at the end of the lifecycle.
adaptative (agile or change driven) development life cycle the scope is defined and approved before the start of an iteration. This a bit advanced version of iterative and incremental life cycles where scope unknowns are high. The main difference is that the duration of the iterations is very small.
Hybrid development life cycle combines predictive and adaptive
Difference between project and development life cycle a project lifecycle is the broadest on the timescale, and it contains multiple phases. one or more of the phases may include the development of a product, service, or result and this is done by choosing a corresponding development lifecycle.
Factors that increase throughout the project life cycle and then, decrease sharply cost and resource levels/usage
Factors that decrease throughout the project life cycle -uncertainty about the project -stakeholders influence/ability to change project output - stakeholders ability to change the cost of the project
Factors that increase throughout the project life cycle and remain high at the end - probability of successfully completing the project - cost of changes -cost of repairing defects
Quality control set of activities to ensure the quality of products/systems. Done at the end of the process
Quality assurance set of activities to ensure quality in the development processes. Done throughout the process. Cheaper than quality control because prevents rework
Characteristics of a project life cycle Project Lifecycle Outputs (binary/octet-stream)
WPD Work Performance Data Raw observations and measurements. Comes out of executing process group
WPI Work Performance Information WPD analyzed. Comes out of monitoring and controlling process group.
WPR Work Performance Group One of the Outputs from the monitoring and controlling process group. WPI represented physically or electronically.
Tailoring Selecting the appropriate project management processes, inputs, tools, techniques, outputs and life cycle phases to manage a project
Project management business documents Business case and project benefits management plan. They are: -Interdependent -developed iteratively -maintained throughout the whole project life cycle
Business case documented explanation on how economically viable the project is and used as a basis for the authorization of further project management activities. Project sponsor is accountable for the development or, at least, to bring in the information. PM can develop it but isn't responsible for gathering the info required for it.
Elements of the business case -Objectives -reason for project initiation -analysis of the current state -recommendations -evaluations
project benefits management plan describes: - how and when project benefits will be created - how benefits will be measured and sustained
Elements of the project benefits management plan - target benefits -strategic alignment -timeframe for realization -benefits owner -metrics -assumptions -risks
Criteria that the initiation documentation must meet All high level business and compliance requirements included in the initiation documentation must meet customer expectations
Project charter ("project birth certificate") document issued by the project sponsor that formally authorizes the existence of a project and provided the PM with the authority to apply organizational resources to project activities
project management plan the document that describes how the project will be executed, monitored and controlled
Difference between the business case and project charter The business case is developed for the purpose of evaluating if it is worth doing something or not. It is a justification for spending resources (people, time, money) to do something. A Project Charter gives formal authority to the Project Manager to undertake the project. The subtle difference is that the first is a sales pitch to investors or management whereas the second forms part of the formal project documentation.
EEF Enterprise environmental factors Conditions, not under the project team control, that influence, enhance, constrain or direct the project. Can be internal or external. Typically input for many processes (mostly planning processes).
Internal EEF -culture, structure and governance model (ex: mission, vision, management style) -infrastructure -geographic resources and facilities location -IT (ex: software) -resources availability (ex: hiring and acquisitions restrictions) -employee skills
external EEF -market conditions -social and cultural manners (ex: politics) - legal restrictions -academic research - physical conditions (ex: clima) -monetary conditions (ex: tax rate) -governmental standards (ex: laws) -business database (ex: risk sector studies, benchmarking results)
OPA Organizational Process Assets Plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization (ex: EL PMO Governance Model and ADP Pesquisa)
System a set of components working together as parts of a mechanism or an interconnecting network, producing a result unachievable by each component alone.
System principles -dynamic -can be optimized -can have its elements optimized (not at the same time) -non-linear
Organizational system interaction of multiple factors within an organization that creates its own unique system
governance framework set of rules, policies, procedures, norms, relationships, systems and processes that determines and influences the behavior of organizations members
Governance domains and functions domains: alignment, risk, performance, and communication. functions: suspervision, control, integration and decision making.
PMO an organizational structure that standardizes governance processes related to project management. Integrates project info and data to evaluate how strategic objectives are being met.
types of PMO - supportive -controlling -directive
supportive PMO consultative role. Little control over project related things
controlling PMO supports and defines methodologies, tools, and procedures. Medium control.
directive PMO Controls projects. PMs are subordinated to it. High control.
influence of organizational structure types on projects Influence+Of+Organizational+Structure+On+Projects (binary/octet-stream)
Project phases collection of logically related activities that culminates in the completion of one or more deliverables. The phases can be defined and named no meet project needs. Generically, it is: Start, preparation, execution, finish
Phase gate review at the end of a phase to define if the project can continue to next phase or if it has to go with changes or, even, if it should be ended.
Project management processes a systematic set of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs (SIPOC)
project management process group logical grouping of project management processes in the way that the project moves from initiation to closing. They are 5: initiation, planning, execution, monitor and control, closure
Project management knowledge area an identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools and techniques. Knowledge areas are designed to group processes which have common knowledge characteristics. This means that knowledge areas are divided to keep the same type of skill set (or knowledge) in one group.
ITTO inputs, Tools & Techniques, outputs
Difference between Project Management Process Groups and Project Phases Project phases relate to a life cycle. Process groups represent related processes that are performed at different stages of a project, throughout its lifecycle. Processes are repeated in each phase of the project. We plan each phase, execute and close it. Monitoring & controlling is a continuous activity - we do the same with the project overall but those are different things
Life cycle models, development life cycles, frameworks based on a development life cycle and approaches models: predictive and adaptative development life cycles that belong to these models: waterfall - predictive, iterative, incremental adaptative frameworks based on those life cycle models: SCRUM, SDLC, V, Spiral approaches: Agile, Lean, TQM
relationship between process group and knowledge area there is no relationship between knowledge area and process group. Every knowledge area will have processes from every process group. In knowledge areas, processes are grouped according to their similarities on the subject.