Project Management Basics
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Project Management Basics

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Questions and Answers

Which of the following is NOT a component of project integration management?

  • Performing integrated change control
  • Developing project management plan
  • Managing project knowledge
  • Financial analysis (correct)

    • What is the primary focus of a sprint review?

  • Evaluating the project charter
  • Demonstrating the work completed during the sprint (correct)
  • Assessing team collaboration techniques
  • Identifying needed changes for the next sprint

    • Which output is associated with monitoring and controlling project work?

  • Final reports
  • Meeting deliverables
  • Change requests (correct)
  • Lessons learned register

    • How is the Internal Rate of Return (IRR) defined?

    <p>Discount rate that makes the NPV equal to zero</p> Signup and view all the answers

    What is one of the main outputs of the project closing process?

    <p>Final product or service</p> Signup and view all the answers

    What best defines free slack in project management?

    <p>Time an activity can be delayed without delaying the start of any following activities</p> Signup and view all the answers

    Which of the following is NOT a main process of project integration management?

    <p>Create a work breakdown structure</p> Signup and view all the answers

    In project management, what is the purpose of a business case?

    <p>To secure funding and authorization for the project</p> Signup and view all the answers

    Which of the following best describes explicit knowledge?

    <p>Knowledge that can be captured in documents and easily shared</p> Signup and view all the answers

    Which of the following would affect the execution of a project within an organization?

    <p>The organization's culture</p> Signup and view all the answers

    What primarily determines the critical path in project management?

    <p>The series of activities that determine the project completion time</p> Signup and view all the answers

    Which of the following factors can lead to team dysfunction according to the Five Dysfunctions of Teams?

    <p>Lack of commitment</p> Signup and view all the answers

    In Tuckman's model, which stage follows the 'Storming' stage?

    <p>Norming</p> Signup and view all the answers

    What is the purpose of an issue log in project management?

    <p>To document, monitor, and track problems requiring resolution</p> Signup and view all the answers

    Which motivational need corresponds to the desire for personal power rather than institutional power?

    <p>Power</p> Signup and view all the answers

    Which tool is NOT commonly used for resource estimation in project management?

    <p>Time tracking software</p> Signup and view all the answers

    What is a benefit of team-based reward and recognition systems?

    <p>They promote teamwork and collaboration</p> Signup and view all the answers

    Which of the following is included in the PMBOK® Guide's recent addition of knowledge areas?

    <p>Stakeholder Engagement</p> Signup and view all the answers

    What is the primary purpose of the Work Breakdown Structure (WBS)?

    <p>To break down the project into manageable pieces</p> Signup and view all the answers

    Which of the following best describes project success according to the provided content?

    <p>Support from the project sponsor and a strong team</p> Signup and view all the answers

    Which of the following is NOT a component of the three-sphere model for systems management?

    <p>Project Duration</p> Signup and view all the answers

    What does ethics in project management primarily concern?

    <p>Maintaining the confidentiality of information</p> Signup and view all the answers

    What is a common characteristic of organizational culture?

    <p>Member identity and people focus</p> Signup and view all the answers

    What is one of the key roles of a project manager in relation to organizational culture?

    <p>To understand and navigate the culture of the organization</p> Signup and view all the answers

    Which approach is characterized by revisiting and refining work multiple times?

    <p>Iterative approach</p> Signup and view all the answers

    In the context of project management, what does outsourcing typically involve?

    <p>Delegating tasks to external companies</p> Signup and view all the answers

    Which of the following best describes a stakeholder matrix?

    <p>A list detailing stakeholder information and behaviors</p> Signup and view all the answers

    What is a significant challenge in providing cost estimates for a project?

    <p>Underestimating costs can lead to potential project loss</p> Signup and view all the answers

    What is the primary output of scope management in a project?

    <p>Scope management plan</p> Signup and view all the answers

    Which of the following is NOT a method for collecting requirements?

    <p>Stakeholder analysis</p> Signup and view all the answers

    What is the purpose of a requirements traceability matrix?

    <p>To list requirements and their attributes</p> Signup and view all the answers

    What approach is primarily used for creating a work breakdown structure (WBS)?

    <p>Top-down approach</p> Signup and view all the answers

    What is the result of validating scope in project management?

    <p>Formal acceptance of deliverables</p> Signup and view all the answers

    Which term refers to the longest path in a project network diagram?

    <p>Critical path</p> Signup and view all the answers

    What is the primary purpose of estimating activity resources?

    <p>To understand project costs and resources needed</p> Signup and view all the answers

    In project time management, which element is critical for defining activities?

    <p>Work Breakdown Structure</p> Signup and view all the answers

    Which of the following best describes the role of sequencing activities in project management?

    <p>Organizing project activities according to dependencies</p> Signup and view all the answers

    What occurs during the controlling scope process?

    <p>Managing changes to the project scope</p> Signup and view all the answers

    Study Notes

    Project Management

    • Scope Statement: A concise paragraph outlining the project's boundaries and what it will deliver.
    • Work Breakdown Structure (WBS): A hierarchical decomposition of project deliverables into smaller manageable components. Promotes awareness and commitment among stakeholders.
    • Project Chart: An informal agreement among stakeholders, including tools such as Gantt charts, network diagrams, and critical path analysis.
    • Cost Estimates: Difficult to determine accurately, overestimation can lead to project losses.

    Project Success Factors

    • Sponsor: A key stakeholder providing support and resources.
    • Good Team: A well-skilled and motivated team is essential.
    • Money: Sufficient funding is needed to ensure project completion.
    • Support: Executive and organizational support is crucial.
    • User Involvement: Continuous engagement with users to understand needs and ensure the final product meets expectations.

    Ethics in Project Management

    • Information Privacy: Maintaining confidentiality of project information and respecting data privacy.

    System Thinking

    • Interconnectedness: Recognizing the relationships and interactions between different project elements (e.g., business, technology, stakeholders).
    • Three Sphere Model: Business, Organization, Technology. Alignment between business and technology is key.

    Stakeholder Analysis

    • Stakeholder Matrix: A tool to categorize stakeholders, their roles, interests, and potential influence on the project.

    Organizational Structures

    • Formal Structures: Defined hierarchies and reporting lines.
    • Informal Structures: Unofficial relationships and networks within an organization.
    • Frames of an Organization:
      • Structural Frame: Focuses on roles and responsibilities.
      • HR Frame: Emphasizes employee needs and motivation.
      • Political Frame: Examines power dynamics and influence.
      • Symbolic Frame: Concentrates on organizational culture and values.
    • Matrix Structures: Balancing functional and project management responsibilities. Different levels of authority for project managers determine the matrix type.

    Organizational Culture

    • Shared Values and Beliefs: Influence how people work together and interact.
    • Characteristics: Member identity, group emphasis, people focus, unit integration, control, risk tolerance, reward criteria, conflict tolerance, means-end orientation, open system focus.

    Project and Product Life Cycles

    • Phases: Projects are divided into distinct phases, each acting as a subproject.
    • Approaches: Different project management approaches, such as the waterfall model, iterative development, etc.

    Outsourcing

    • Contractual Agreements: Organizations engage external companies to manage specific tasks or functions.
    • Examples: Data center operations, call centers, hiring specialized personnel.

    Sprints

    • Agile Methodology: Short, iterative development cycles focused on rapid delivery.
    • Sprint Backlog: A list of tasks to be completed within a sprint.

    Project Integration Management

    • Coordination: Ensuring all project knowledge areas (e.g., scope, schedule, risk) are aligned and managed consistently.
    • Processes:
      • Develop Project Charter: Establish a formal agreement between the project team and stakeholders.
      • Develop Project Management Plan: Comprehensive document outlining the project's objectives, scope, schedule, budget, resources, etc.
      • Direct and Manage Project Work: Executing the tasks outlined in the project plan, ensuring completion within schedule and budget.
      • Manage Project Knowledge: Capturing and disseminating lessons learned for future projects.
      • Monitor and Control Project Work: Tracking the project's progress, identifying deviations from the plan and taking corrective actions.
      • Perform Integrated Change Control: Managing changes in project scope, schedule, budget, and resources.
      • Close Project or Phase: Formalizing project completion, documenting results, and evaluating lessons learned.

    Selecting Projects

    • Criteria: Need, Funding, Will.
    • Financial Analysis: NPV (Net Present Value), ROI (Return on Investment), Payback Period.

    Project Scope Management

    • Scope Management Plan: Defines how the project scope will be defined, managed, and controlled.
    • Requirements Management Plan: Outlines the process for eliciting, documenting, and managing project requirements.
    • Collecting Requirements: Gathering information from stakeholders about the expected functionality and deliverables.
    • Defining Scope: Creating a clear and concise scope statement outlining the project's deliverables and boundaries.
    • WBS (Work Breakdown Structure): A hierarchical breakdown of project deliverables into smaller tasks.
    • Validating Scope: Formal acceptance of completed deliverables by the stakeholders.
    • Controlling Scope: Managing changes to the project scope throughout the project lifecycle.

    Project Time Management

    • Importance: Meeting project deadlines is crucial, as delays can significantly impact overall project success.
    • Processes:
      • Planning Schedule Management: Developing a schedule management plan for the project.
      • Defining Activities: Identifying individual tasks and milestones required to achieve project objectives.
      • Sequencing Activities: Determining the order of tasks and dependencies between them.
      • Estimating Activity Resources: Identifying and quantifying the resources needed for tasks.
      • Estimating Activity Duration: Determining the amount of time required to complete each activity.
      • Developing Schedule: Create a project schedule including start and end dates for tasks.
      • Control Schedule: Track schedule progress and manage deviations from the schedule.

    Project Resource Management

    • Resource Management Plan: Documenting project resources, roles, responsibilities, and required skills.
    • Team Charter: Defining the team's purpose, goals, working norms, and decision-making processes.
    • Tools:
      • Project Organization Charts: Visual representation of the team structure and reporting lines.
      • Expert Judgment: Utilizing the knowledge and experience of subject matter experts.
      • Data Analysis: Utilizing historical data to estimate resource requirements.
      • Project Management Software: Using specialized software for resource allocation and tracking.

    Project Team Management

    • Resource Loading: Determining the amount of resources needed for each task and time period.
    • Resource Leveling: Resolving resource conflicts by adjusting task schedules.
    • Team Development: Stages of team development described by the Tuckman Model (forming, storming, norming, performing, adjourning).
    • Team-Based Rewards and Recognition: Motivating teamwork and fostering a collaborative environment.
    • Performance Assessment: Evaluating the team's progress and identifying areas for improvement.
    • Dysfunctions of Teams: Common problems that hinder team performance (absence of trust, fear of conflict, lack of commitment, avoidance of accountability, inattention to results).

    Agile Projects

    • Dedicated Teams: Team members usually focus on a single project.
    • Sprint Reviews: Demonstrating the work completed during a sprint.
    • Sprint Retrospectives: Reflecting on the sprint process and identifying areas for improvement.

    Project Stakeholder Management

    • Processes:
      • Identifying Stakeholders: Identifying all individuals or groups who have an interest in the project.
      • Planning Stakeholder Engagement: Developing a plan to engage stakeholders and manage their expectations.
      • Managing Stakeholder Engagement: Establishing communication channels, managing expectations, and resolving conflicts.
      • Monitoring Stakeholder Engagement: Tracking stakeholder engagement activities and evaluating their effectiveness.
    • Tools: Specialized software, social media platforms, and communication tools.

    Issue Log

    • Problem Documentation: A tool for documenting, tracking, and resolving project issues.

    Management Theories

    • Theory X (Douglas McGregor): Assumes employees are inherently lazy and need close supervision.
    • Theory Y (Douglas McGregor): Assumes employees are motivated and capable of self-direction.

    Critical Path Method (CPM)

    • Time-Based Analysis: Identifies the longest path in a project network, determining the shortest possible project completion time.
    • Key Concepts:
      • Early Start (ES): Earliest possible time a task can start.
      • Late Start (LS): Latest possible time a task can start without delaying the project.
      • Early Finish (EF): Earliest possible time a task can finish.
      • Late Finish (LF): Latest possible time a task can finish without delaying the project.
      • Free Slack: Amount of time a task can be delayed without delaying the start of subsequent tasks.
      • Total Slack: Amount of time a task can be delayed without delaying the project completion date.

    Project Integration Management (Processes)

    • Developing the Project Charter: Formally establishes project goals, boundaries, and stakeholder roles.
    • Creating an Assumption Log: Document assumptions about the project that can impact its success.
    • Developing the Project Management Plan: A comprehensive document outlining project scope, schedule, budget, resources, risks, etc.
    • Direct and Manage Project Execution: Executing project tasks according to the plan.
    • Manage Project Knowledge: Capturing lessons learned and documenting project knowledge for future reference.
    • Monitor and Control Project Work: Tracking project progress, identifying deviations, and taking corrective actions.
    • Perform Integrated Change Control: Managing changes in project scope, schedule, budget, and resources.
    • Close Project or Phase: Formalizing project completion, evaluating results, and documenting lessons learned.

    Knowledge Management

    • Explicit Knowledge: Easily communicated and documented information.
    • Tacit Knowledge: Implied or unspoken knowledge that can be difficult to articulate.

    Project Charter Inputs

    • Business Case: Justifies the project and outlines its objectives and benefits.
    • Benefits Management Plan: Outlines the expected benefits of the project and how they will be measured.
    • Agreements: Contractual or informal agreements that can impact project execution.
    • Enterprise Environmental Factors: External factors that can influence project success, such as regulatory requirements or economic conditions.
    • Organizational Process Assets: Internal policies, procedures, and resources that can support project execution.

    Organizational Culture and Execution

    • Positive Impact: A supportive organizational culture fosters creativity, collaboration, and commitment, leading to better project outcomes.

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    Related Documents

    750 LEC Notes 1-6 (Project Management) PDF

    Description

    Explore the fundamental concepts of project management, including scope statements, work breakdown structures, and critical success factors. This quiz will test your understanding of project planning elements and stakeholder involvement to ensure successful project outcomes.

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