Project Management Concepts

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App

Questions and Answers

Which of the following is generally NOT considered a core competency expected of a project manager?

  • Risk management and mitigation.
  • Stakeholder communication and engagement.
  • Operational management and process improvement. (correct)
  • Resource allocation and optimization.

The development and maintenance of organizational culture and capabilities within a company is primarily the responsibility of:

  • Individual project managers.
  • The project management office (PMO).
  • External consultants and advisors.
  • The organization's management. (correct)

Which of the following statements about a project charter is FALSE?

  • It provides the project manager with the authority to apply organizational resources to project activities.
  • It is used primarily to request bids for a project or a specific phase of a project. (correct)
  • It outlines the project's objectives, scope, and stakeholders.
  • It formally authorizes the existence of a project.

Which statement about the project business case is FALSE?

<p>It is a document that serves as an important input to the project initiation and is seldom used after the project is approved. (A)</p> Signup and view all the answers

The collective term for the series of phases a project passes through from initiation to completion is known as the:

<p>Project lifecycle. (D)</p> Signup and view all the answers

Which document formally authorizes the start of a new project and provides the project manager with the authority to allocate resources?

<p>Project charter. (D)</p> Signup and view all the answers

In project management terminology, which term best describes external entities who provide components or services necessary for project completion?

<p>Sellers. (B)</p> Signup and view all the answers

The individuals who are directly involved in carrying out the project tasks under the direction of the project manager are collectively known as the:

<p>Project team. (D)</p> Signup and view all the answers

What term is used to describe the tangible or intangible outcomes that must be produced for a project to be considered complete and successful?

<p>Deliverables. (D)</p> Signup and view all the answers

A logical grouping of project activities, typically organized around a major project outcome, result, or deliverable, is best described as a:

<p>Project Phase. (C)</p> Signup and view all the answers

What managerial process involves centralized management of one or more portfolios to achieve organizational strategic objectives?

<p>Portfolio Management. (C)</p> Signup and view all the answers

Individuals within the organization who hold specialized knowledge or skills and may be consulted or assigned to support specific aspects of a project are best described as:

<p>Functional Managers. (D)</p> Signup and view all the answers

The term used to describe the dependencies that exist between different functional areas within an organization, where the work of one area impacts or relies on the work of another, is:

<p>Interdependencies. (D)</p> Signup and view all the answers

The individuals or groups who will directly utilize the delivered product, service, or result of a project are typically referred to as:

<p>Customers/Users. (B)</p> Signup and view all the answers

In project governance, the individual who champions the project at a high organizational level, provides resources, and removes roadblocks is known as the:

<p>Project Sponsor. (C)</p> Signup and view all the answers

When a project manager faces the decision to reduce the scope of a project in order to meet a critical deadline, this is an example of:

<p>Trade-off. (A)</p> Signup and view all the answers

Individuals, groups, or organizations whose interests may be affected by the outcome of a project are collectively known as:

<p>Stakeholders. (C)</p> Signup and view all the answers

Whose primary responsibility is it to ensure that a project achieves its defined objectives and delivers the intended benefits?

<p>Project Manager. (A)</p> Signup and view all the answers

Which organizational structure provides centralized and coordinated management of projects under its umbrella, streamlining processes and sharing resources?

<p>Project Management Office (PMO). (A)</p> Signup and view all the answers

The process of choosing the appropriate methods, tools, and governance to make the project more efficient is:

<p>Tailoring. (B)</p> Signup and view all the answers

Flashcards

Operational management

Directing and overseeing day-to-day business operations, not a project manager's responsibility.

Culture creator

Organizational culture and capabilities are typically established by the organization's management.

Project charter purpose

The project charter is not used to request bids.

Project Business Case

The business case is used throughout the project lifecycle.

Signup and view all the flashcards

Project lifecycle

A project lifecycle is a collection of project phases.

Signup and view all the flashcards

Project Charter

A document issued by the project sponsor that formally authorizes the existence of a project.

Signup and view all the flashcards

Sellers

Vendors, suppliers, and contractors that provide components or services for the project.

Signup and view all the flashcards

Project Team

The project manager and the group of individuals who perform the project work.

Signup and view all the flashcards

Deliverables

Desired outcomes that the project must create to be considered complete.

Signup and view all the flashcards

Project Phases

A collection of related activities that will produce a meaningful result

Signup and view all the flashcards

Portfolio Management

Systematic management of projects, programs, and portfolios to achieve strategic goals.

Signup and view all the flashcards

Functional Managers

Individuals or groups who may provide subject matter expertise or services to the project.

Signup and view all the flashcards

InterDependencies

The relationship between organizational functions where one is dependent on others.

Signup and view all the flashcards

Customers/User

Persons or organizations that will use the project’s product or service.

Signup and view all the flashcards

Project Sponsor

Person in a high position that supports and advocates for the project.

Signup and view all the flashcards

Trade-off

Taking less on one measure to improve another.

Signup and view all the flashcards

Stakeholders

People whose interests may be positively or negatively impacted by the project.

Signup and view all the flashcards

Project Manager

The person responsible for meeting the project objectives.

Signup and view all the flashcards

Project Management Office (PMO)

An organizational structure that standardizes project-related governance.

Signup and view all the flashcards

Tailoring

Selecting appropriate tools, techniques, and procedures to manage a project.

Signup and view all the flashcards

Study Notes

  • Operational management is not a key competency of a project manager.
  • An organization's management establishes the system that creates the organizational culture and capabilities.
  • The project charter is not used to request bids for a project or phase.
  • The project business case is continuously used after project approval, contrary to being seldom used.
  • A project lifecycle is a collection of generally sequential and sometimes overlapping project phases.

Word Bank Definitions

  • Project Charter: A document issued by the project sponsor that formally authorizes the existence of a project.
  • Sellers: Vendors, suppliers, and contractors that provide components or services for the project.
  • Project Team: The project manager and the group of individuals who perform the project work.
  • Deliverables: The desired elements of value, outcomes, or results that must be created for the project to be considered complete.
  • Project Phases: A collection of related activities that will produce a meaningful deliverable.
  • Portfolio Management: The systematic management of projects, programs, and portfolios to achieve the strategic goals of an organization.
  • Functional Managers: Individuals who may provide subject matter expertise or services to the project.
  • Interdependencies: The relationship between organizational functions where one function is dependent on others.
  • Customers/User: The persons or organizations that will use the project’s product or service.
  • Project Sponsor: The person in a high position in the organization that supports and advocates for the project.
  • Trade-off: Taking less on one measure, such as scope, to improve another, such as schedule or cost.
  • Stakeholders: The people whose interests may be positively or negatively impacted by the project.
  • Project Manager: The person responsible for meeting the project objectives.
  • Project Management Office (PMO): The organizational structure that standardizes project-related governance and facilitates the sharing of resources, methodologies, and tools.
  • Tailoring: Selecting appropriate tools, techniques, and procedures to manage a project.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

More Like This

Project Investment Lifecycle Quiz
5 questions
Project Life Cycle Phases Quiz
18 questions
Project Development Approach and Lifecycle
45 questions
Project Management Lifecycle and Deliverables
42 questions
Use Quizgecko on...
Browser
Browser