PM Basics
What are portfolios?
A person who has a vested business interest in the outcome of a project or who is actively involved in its work.
What is a project stakeholder?
These are the external parties who enter into a contractual agreement with the organization and provide components or services needed for the project.
What are vendors and business partners?
This is marked by the beginning and the end of the project.
What is the project life cycle?
This phase (process group) outputs the formal acceptance and closure, transition/training, lessons learned, and contract files.
What is the Closing Phase?
It's an independently manageable component of an existing project.
What is a subproject?
These are ongoing, repetitive tasks that produce the same outcome every time they are performed; its purpose is to carry out day-to-day organizational functions, generate income to sustain the business, and increase the value of organizational assets.
What are operations?
They are individuals or organizations who will receive the product or service generated by the project; may also be the end-user.
What are the customers?
This is a sequence of activities designed to bring about a specific result in response to a business need.
What is a process?
This phase (process group) outputs the project management plans, Work Breakdown Structure (WBS), Statement of Work (SOW), Cost baseline, project schedule, scope statement, roles and responsibilities, and cost estimates.
What is the Planning Phase?
It's a temporary work endeavor that creates a unique product, service, or result with a clearly defined start and finish.
What is a project?
It's a centralized, permanent, ongoing administrative unit or department that serves to improve project management performance within an organization; provides support for project mgmt. concepts, too, training and mentoring to PM's.
What is the Project Management Office (PMO)?
They are individuals or groups that provide finances, management support, and overall control of the project; may be internal or external to the project.
What are sponsors/champion?
These are activities that underlie the effective practice of project management.
What are the project management processes?
This phase (process groups) outputs performance reports, budget changes, risks/issues log, change requests, and performance reports.
What is the Monitoring and Controlling phase?
It's a group of related projects that have a common objective.
True or False. Project Management is an iterative, cyclical process.
What is True?
They create and maintain the project timeline; they should be proficient at using project management software.
What is the scheduler?
This phase (process group) involves carrying out the work mentioned in the project management plan in order to meet project specifications.
What is the Executing Phase?
This is a group of related project activities that results in the completion of a major deliverable.
What is a project stage?
It's the planned effort for executing and monitoring a project in order to accomplish its defined goals and objectives.
What is project management?
Program management includes related and interdependent projects, whereas a __________ may include several otherwise unrelated projects if they all support major goals or a significant product line.
What is (a) portfolio?
They are individuals who provide resources (people) to the project manager, who in turn assigns them to project activities.
What are the functional managers?
This phase (process group) involves defining the need for a new project or th new phase of an existing project, validating the project, preparing a project charter, and obtaining approval for the project charter to move forward.
What is the Initiating Phase?
This is a comprehensive methodology to control a project and ensure its success; it is carried out throughout the life cycle of a project and provide guidance in the form of project phase reviews, to monitor and control the project.
What is project governance?