Fundamental Concepts
A temporary endeavor with a beginning and end that creates a unique product, service or result
Project
A repository of both assumptions and constraints.
Assumption Log
The potential profitability of an investment
Return on Investment (ROI)
A group of people who will complete the work of the project.
Project Team
Internal cultural norms and organizational management policies and procedures.
Any people or organizations whose interests may be positively or negatively impacted by the project or the product of the project.
Stakeholders
Can be described as functional, project-oriented or matrix
Organizational structure
the value today of future cash flows
Present Value
One who provides the financial resources for the project, supports the project and protects it from unnecessary changes.
Project Sponsor
changes in a project that affects the success of the project
Project Change
Can be described as being predictive, agile or hybrid
Types of Project Management
Clearly imposed by management or the sponsor. Can include: schedule, cost, risk, scope, quality, resources, and anything else that limits options
Constraints
the present value of the total benefits (income or revenue) minus the costs over many time periods.
Net Present Value (NPV)
Typically the lead of the product owners and is ultimately accountable for the product value and benefits.
Product Manager
The positive changes the project is meant to bring to your organization
Transitional Change
Can be described as supportive, controlling or directive.
Types of Project Management Offices
Includes two types: processes, procedures and policies; and organizational knowledge repositories.
Organizational Process Assets
The rate at which the project inflows and project outflows are equal
Internal Rate of Return (IRR)
Accountable for managing the project to meet objectives and delivers its value and benefits
Project Manager
External change that can potentially impact the project and transitional change
Environmental Change
Includes programs, projects and related operational work that are prioritized and implemented to achieve a specific strategic business goal
Portfolio Management
Provide context within which to plan the project but are generally outside the control of the project team
Enterprise Environmental Factors
the length of time it takes for the organization to recover its investment in a project before it starts accumulating profit.
Payback Period
Responsible for the human and physical resources in a specific department and for working with the project manager to meet the needs of the project.
Functional/Resource Manager
A package of functionality that is complete enough to be useful to the market yet small enough that it doesn't represent the entire product
Minimally Viable Product