Project Management Basics
What are the main characteristics of a project?
temporary
unique
progressive elaboration
Name the main stages in a project life cycle.
initiatiating, planning, executing, monitoring and controlling, closing
A traditional approach to project management, in which tasks and phases are completed in a linear, sequential manner.
Waterfall project management methodology
What types of innovative projects can you name?
new product;
a new method of production;
new market;
new source of raw materials;
new governance structure.
What Are Constraints in Project Management?
Triple Constraint (Iron Triangle, project triangle) -cost, time, the scope of work
What does "feasibility study" mean?
Assessing technical capability, budget, legality, risk, operational feasibility, time.
What does Gantt chart illustrate?
It is a bar chart that illustrates a project schedule, the breakdown of a project into its component tasks.
What is the formula of RISK VALUE?
Risk Value = Influence x Probability of Occurrence
What is the difference between a project and a programme?
Project is a temporary endeavor undertaken by a company or organization.
A program is a group of projects that are similar or related to one another, and which are often managed and coordinated as a group instead of independently.
At what stage does identifying stakeholders take place?
initiating (initiation)
What are the main characteristics of agile frameworks?
Adaptive, evolutionary, open to change, flexible
What is the main idea of high-involvement innovation approach by John Bessant?
The main idea behind High-Involvement Innovation is that as many employees as possible shall be involved in participation in the innovation process.
What is a portfolio?
A portfolio is a group of different programs and/or projects within the same organization, which may be related or unrelated to one another
What does project execution begin with?
a project kickoff meeting
What is necessary to take into account when choosing the right project management methodology?
Cost and budget
Team size
Ability to take risks
Flexibility
Timeline
Client/stakeholder collaboration
What should innovation project expertise evaluate?
potential for commercialization of the project results
willingness of potential investors to finance the project
risk of the project
Explain the abbreviation PMO
PMO – organizational structure responsible for centralized and coordinated management of projects
What does SMART project management objectives mean?
Specific, Measurable, Achievable, Relevant, Time-bound
What agile framework presupposes working in short cycles called “sprints”?
Scrum
What types of risk can you name from the point of view of origin?
1. Commercial risk
2. Financial risk
3. Investment risk
4. Marketing risk
5. Industrial risk
6. Political risk
7. Environmental risk