Project Fundamentals
A temporary endeavor undertaken to create a unique product, service, or result.
What is a project?
It's first, the business need is identified & stakeholders are recognized.
What is the Initiation phase?
A hierarchical breakdown of project work into smaller, manageable components.
What is a Work Breakdown Structure (WBS)?
A visual bar chart or timeline used to track project schedule progress.
What is a Gantt chart?
A methodology that emphasizes flexibility, collaboration, and iterative progress.
What is Agile project management?
The three criteria a project manager must balance: cost, time, and performance.
What is the triple constraint?
The phase where the project plan is created, with timelines, resources, and budget.
What is the planning phase?
This organizational structure groups employees based on specialized functions like marketing or finance.
What is a functional organization?
The longest sequence of activities that determines the shortest possible project duration.
What is the critical path?
Short iterations in Scrum that typically last no longer than four weeks.
What are sprints?
A project is not this type of ongoing work, such as routine maintenance or operations.
What are operational processes?
The phase where the team carries out the project plan and produces deliverables.
What is the execution phase?
Tool used to categorize stakeholders based on their level of influence & interest to determine engagement & communication.
What is the stakeholder matrix?
The amount of time an activity can be delayed without impacting the project schedule.
What is float (or slack)?
The role responsible for representing the customer & managing the product backlog.
Who is the Product Owner?
This document formally approves a project and outlines its purpose, stakeholders, and risks.
What is a project charter?
The phase that involves tracking project performance against the plan & managing changes.
What is monitoring and controlling?
The tendency for project scope to expand beyond original expectations without control.
What is scope creep?
What is a Milestone?
This organizational structure groups employees based on specialized functions like marketing or finance.
What is a functional organization?
The process of aligning projects with organizational mission and strategy to achieve objectives.
What is strategic management?
Last but not least, final phase that includes lessons learned, final delivery, and closing accounts
What is the closing phase?
A technique used to estimate project costs by aggregating estimates from the work break down
What is bottom-up estimating?
An index where a value greater than 1 indicates the project is under budget.
What is the Cost Performance Index (CPI)?
This Agile principle emphasizes reflecting on performance and adjusting behavior at regular intervals.
What is continuous improvement (or retrospectives)?