Project Management Fundamentals
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Questions and Answers

What does Progressive Elaboration mean?

  • Developing in steps and continuing in increments (correct)
  • Ignoring scope changes
  • Finalizing all project details at the start
  • Elaborating the project after it's completed

    • What is a Project?

    A temporary endeavor undertaken to create a unique product, service, or result.

    Projects can originate from __________, Organizational Need, Customer Request, Technological Advance, or Legal Requirement.

    Market Demand

    What is Project Management?

    <p>Application of knowledge, skills, tools &amp; techniques to project activities.</p> Signup and view all the answers

    What does managing a project include? (Select all that apply)

    <p>Identifying requirements</p> Signup and view all the answers

    What are the elements of the Triple Constraint?

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

    What is a Standard?

    <p>A document established by consensus providing rules or guidelines for common use.</p> Signup and view all the answers

    What is a Project Risk?

    <p>An uncertain event or condition that can positively or negatively affect project objectives.</p> Signup and view all the answers

    What is a regulation?

    <p>A government-imposed requirement specifying characteristics of a product, process, or service.</p> Signup and view all the answers

    What are the Project Management Areas of Expertise? (Select all that apply)

    <p>Interpersonal Skills</p> Signup and view all the answers

    What is a Program?

    <p>A group of related projects managed in a coordinated way.</p> Signup and view all the answers

    What is a Portfolio?

    <p>A collection of projects or programs grouped together for effective management.</p> Signup and view all the answers

    What are Subprojects?

    <p>Projects divided into more manageable components.</p> Signup and view all the answers

    What is a Project Management Office?

    <p>An organizational unit to centralize &amp; coordinate project management.</p> Signup and view all the answers

    What is the Project Life Cycle?

    <p>Dividing projects into phases for better management control.</p> Signup and view all the answers

    What is Fast Tracking?

    <p>The practice of overlapping project phases.</p> Signup and view all the answers

    What is a Deliverable?

    <p>A measurable, verifiable work product.</p> Signup and view all the answers

    What is a Phase End Review?

    <p>A review to obtain authorization to close the current phase.</p> Signup and view all the answers

    Who are Project Stakeholders?

    <p>Individuals and organizations involved in or affected by the project.</p> Signup and view all the answers

    Project Based Organizational Systems perform projects for __________.

    <p>various strategic purposes</p> Signup and view all the answers

    Study Notes

    Progressive Elaboration

    • Involves developing project scope in steps, becoming more detailed as understanding of objectives and deliverables improves.

    Project Definition

    • Defined as a temporary endeavor to create a unique product, service, or result, with a specific beginning and end.

    Sources of Projects

    • Arise from various factors: market demand, organizational needs, customer requests, technological advances, and legal requirements.

    Project Management

    • Involves application of knowledge, skills, tools, and techniques across five management processes: initiating, planning, executing, monitoring & controlling, and closing.

    Key Aspects of Managing a Project

    • Identifies clear requirements and objectives.
    • Balances competing demands such as quality, scope, time, and cost.
    • Adapts plans for different stakeholder concerns and expectations.

    Triple Constraint

    • Refers to the interconnected elements of project scope, time, and cost, where a change in one affects the others and impacts quality.

    Standard

    • A consensus-established document that provides guidelines or characteristics for activities aimed at achieving optimal order.

    Project Risk

    • Defined as an uncertain event that may positively or negatively impact project objectives if it occurs.

    Regulation

    • A mandatory government requirement specifying characteristics of products, processes, or services.

    Project Management Areas of Expertise

    • Includes knowledge of PMBOK, interpersonal skills, general management, project environment understanding, and familiarity with regulations.

    Program

    • A group of related projects managed in coordination to achieve benefits that are unattainable if managed separately.

    Portfolio

    • A collection of projects or programs grouped to manage work effectively and meet strategic business objectives.

    Subprojects

    • Smaller, manageable components of a project, potentially contracted out based on phases or required expertise.

    Project Management Office (PMO)

    • An organizational unit focused on the centralized management of projects, ensuring coordination with overall business objectives.

    Project Life Cycle

    • Phases of a project that enhance management control while linking project initiation to closure; defines roles, deliverables, and execution methods.

    Fast Tracking

    • A technique for compressing schedules by overlapping project phases typically done in sequence.

    Deliverable

    • A concrete, measurable work product such as documents or prototypes that form part of a sequential process.

    Phase End Review

    • A review process with goals for closing the current phase and initiating the next; also known as a phase gate or kill point.

    Project Stakeholders

    • Individuals and organizations engaged in or affected by the project, influencing objectives and outcomes.

    Project-Based Organizational Systems

    • Primarily oriented towards performing projects to achieve specific goals or meet strategic business needs.

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    Description

    This quiz covers the essential concepts and practices of project management, including the definition of projects, progressive elaboration, and the triple constraint framework. It's designed to enhance understanding of key project management processes and their application in real-world scenarios.

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