Project Management Key Concepts

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which process group involves finalizing all project activities and obtaining formal client approval?

  • Executing
  • Monitoring and Controlling
  • Closing (correct)
  • Planning

A project manager identifies a potential event that, if it occurs, could negatively impact the project timeline. What is this event best classified as?

  • An assumption
  • An issue
  • A risk (correct)
  • A constraint

Which of the following best describes a 'program' in the context of project management?

  • A group of unrelated projects managed together to improve resource utilization.
  • The process required to launch a project
  • Related projects managed in a coordinated manner to obtain benefits not available from managing them individually. (correct)
  • A temporary endeavor undertaken to create a unique product or service.

During which stage of Tuckman's Ladder are team members MOST likely to openly express disagreement and challenge established norms?

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

A construction company is building multiple homes in a new development. Which project deliverable BEST represents a 'project'?

<p>The construction of a single house. (D)</p> Signup and view all the answers

In project management, what role does a project stakeholder play?

<p>They are an individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of the project. (D)</p> Signup and view all the answers

What is the primary function of a Project Management Office (PMO)?

<p>To standardize project-related processes and share resources across projects. (B)</p> Signup and view all the answers

In what type of project are the requirements well-defined and there's a well laid out plan?

<p>Predictive project (A)</p> Signup and view all the answers

In project scheduling, what is the primary function of a milestone?

<p>To signify the completion of a significant project phase or deliverable. (B)</p> Signup and view all the answers

Which of the following best describes the role of 'Project Controls' in project management?

<p>An integrated function encompassing planning, scheduling, reporting, change control, and cost management. (B)</p> Signup and view all the answers

According to the Project Management Institute (PMI), what fundamentally defines a 'project'?

<p>A temporary endeavor undertaken to create a unique product, service, or result. (A)</p> Signup and view all the answers

When considering the 'Iron Triangle' of project management, what is typically positioned at the center, representing the ultimate project goal?

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

Which of the following plans would you LEAST expect to find as part of a comprehensive Project Management Plan?

<p>Employee Vacation Schedule (C)</p> Signup and view all the answers

In project management, a Gantt chart is primarily used for what purpose?

<p>Visually representing the project schedule and tracking progress. (A)</p> Signup and view all the answers

Which of the following exemplifies a 'resource' in the context of project management?

<p>A skilled project team member. (B)</p> Signup and view all the answers

You are initiating a project. Which document is most crucial for you to consult to understand acceptable and unacceptable behaviors?

<p>PMI Code of Ethics and Professional Conduct (B)</p> Signup and view all the answers

A project manager is struggling to secure necessary resources for the next project phase. According to the content, who is best positioned to address this obstacle?

<p>The project sponsor, due to their ability to secure resources outside the project manager's authority. (B)</p> Signup and view all the answers

During project initiation, which consideration most directly influences the project's ultimate feasibility and alignment with organizational goals?

<p>Determining the business justification for the project. (C)</p> Signup and view all the answers

A project team is experiencing conflict due to unclear roles and responsibilities. Which tool would be most effective in resolving this issue?

<p>A Responsibility Assignment Matrix (RAM) clarifying stakeholder involvement. (A)</p> Signup and view all the answers

A project manager notices increasing negativity and disengagement during team meetings. Addressing the team's mood falls into which meeting consideration?

<p>Creating and keeping a positive environment. (C)</p> Signup and view all the answers

Which attribute aligns with the 'Ways of Working' aspect of the PMI Talent Triangle, emphasizing proficiency in project execution?

<p>Performance management (A)</p> Signup and view all the answers

In a matrix organizational structure, how might a project manager's authority differ compared to a projectized organization?

<p>The project manager shares authority with functional managers in a matrix structure. (A)</p> Signup and view all the answers

A project team needs to quickly generate a wide range of innovative ideas for a new product feature. Which type of meeting would be most suitable?

<p>A brainstorming session to encourage creative thinking. (A)</p> Signup and view all the answers

What is the primary function of Stage Gates in project management?

<p>To provide decision points for continuing, modifying, or terminating a project. (B)</p> Signup and view all the answers

Flashcards

Project

A temporary endeavor for a unique product, service, or result.

Project Attributes

Temporary, creates a unique product, and has a defined start and end.

Project Management Institute (PMI)

An organization offering certification and setting standards in project management.

Iron Triangle

A model representing the balance between Scope, Schedule, and Budget in project management.

Signup and view all the flashcards

Milestone

A marker in a schedule that signifies completion with zero duration.

Signup and view all the flashcards

Deliverable

A specific output or result expected from a project, not necessarily listed in the schedule.

Signup and view all the flashcards

Project Controls

Processes for planning, scheduling, reporting, change control, and cost control.

Signup and view all the flashcards

PMI Code of Ethics

Guidelines defining the expectations for behavior in project management.

Signup and view all the flashcards

Project Management Institute Talent Triangle

A framework consisting of Ways of Working, Business Acumen, and Power Skills needed for project managers.

Signup and view all the flashcards

Project Sponsor

An individual providing decision leadership outside the authority of the project manager, securing resources and addressing issues.

Signup and view all the flashcards

Key functions of a Project Sponsor

Includes decision leadership, a big-picture view, securing resources, and addressing issues outside team authority.

Signup and view all the flashcards

Emotional Intelligence

The ability to recognize and manage one's own emotions and the emotions of others, guiding decision-making and behavior.

Signup and view all the flashcards

Responsibility Assignment Matrix (RAM)

A tool detailing stakeholders and clarifying responsibilities among cross-functional teams.

Signup and view all the flashcards

Elements of a Responsibility Assignment Matrix

Typically includes Responsible, Accountable, Communicated, and Informed parties involved in a project.

Signup and view all the flashcards

Stage Gates

A project management technique that divides large projects into stages with decision points (gates) in between.

Signup and view all the flashcards

Considerations in Meeting Planning

Includes selecting the right type of meeting, having an agenda, managing time and mood, keeping order, and listing action items.

Signup and view all the flashcards

Initiating

The process required to launch a project.

Signup and view all the flashcards

Monitoring and Controlling

Ensures project expectations are kept in check and adjustments are made.

Signup and view all the flashcards

Risk

An uncertain event that can have positive or negative consequences.

Signup and view all the flashcards

Constraint

A limiting factor that affects project execution.

Signup and view all the flashcards

Tuckman's Ladder - Forming

Establishing ground rules; initial stage with strangers.

Signup and view all the flashcards

Stakeholder

Person, group, or organization affected by or perceiving impact from a project.

Signup and view all the flashcards

Project Management Office (PMO)

Standardizes processes for project, program, or portfolio management.

Signup and view all the flashcards

Predictive Project

A project with defined requirements and a clear plan, often high risk.

Signup and view all the flashcards

Study Notes

Project Management Domains

  • Five process groups for projects: initiating, planning, monitoring and controlling, executing, closing
  • Initiating: process of launching a project, agreeing to hire a company.
  • Planning: Defining project extent and execution methods.
  • Monitoring and Controlling: Project manager ensures expectations are met, budgets are adjusted.
  • Executing: Completing project tasks and activities.
  • Closing: Finalizing and completing the project with client approval.

Project Definitions

  • Risk: Uncertain event with positive or negative impact on objectives; planned for in advance.
  • Issue: Current condition affecting project objectives; addressed during execution.
  • Constraint: Limiting factor; considered during planning.
  • Assumption: Factor considered true, but may not be proven.
  • Portfolio: Projects and programs managed to achieve strategic goals.
  • Program: Related projects managed for combined benefits; cannot be achieved individually.
  • Project: Temporary endeavor for a unique product, service, or result, with a beginning and end.

Team Development (Tuckman's Ladder)

  • Forming: Establishing ground rules, formalities preserved, strangers.
  • Storming: Communicating feelings, resisting control, demonstrating hostility.

Project Stakeholders

  • Stakeholders are individuals or groups affected by, or potentially influencing, a project. Examples include CEO of hiring company.

Project Management Office (PMO)

  • A portfolio, program, or project management office, with standardized processes.

Project Types

  • Predictive: Requirements are clear and defined at the beginning, high risk, significant investment, good plan.
  • Adaptive: Starts with a vision and requirements change; uncertainty and volatility exist; incremental planning.

Project Management

  • Milestone: Signifies project completion; zero time duration.
  • Activity: Time needed to complete a task.
  • Deliverable: Output of a task.

Project Controls includes:

  • Planning
  • Scheduling
  • Reporting
  • Change control
  • Progress
  • Productivity
  • Cost Control

Project Sponsor

  • Provides leadership outside the project manager's authority, crucial for securing resources and addressing external issues.

Project Initiation Considerations

  • High level requirements
  • Business justification
  • Budget, duration, risks (factors).
  • Project manager role and authority.

Meeting Planning & Types

  • Emotional Intelligence: Recognizing one's own and others' emotions, guiding behavior.
  • Considerations for meetings include: type (correct), agenda, time management, mood.
  • Examples of meetings are focus groups, stand up meetings, brainstorming, and planning.

Organizational Structures

  • Functional: Based on departments/job functions.
  • Matrix: Combining functional and project team structures.
  • Projectized: Project-oriented organization.

Responsibility Assignment Matrix (RAM)

  • Shows responsibility and other involved parties. Elements typically include: responsible, accountable, communicated, and informed parties.

Stage Gates

  • PM technique for large projects. Breaks the projects into steps.

Practice Questions

  • High-scope business case & high-level budgets: project charters, leadership requests, program reviews.
  • Defining stakeholder roles in creative new product development.
  • Adaptive project life cycles, new marketplace products.

Studying That Suits You

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

Quiz Team

Related Documents

MGT 480 Domain 1 Study Guide PDF

More Like This

Project Management: Process Groups
16 questions

Project Management: Process Groups

UndamagedLawrencium avatar
UndamagedLawrencium
Project Management: Risk Management
10 questions

Project Management: Risk Management

HonestThulium2652 avatar
HonestThulium2652
Project Management: Overview, Process, and Principles
10 questions

Project Management: Overview, Process, and Principles

CoolZebra avatar
CoolZebra
Project Management Skills
10 questions

Project Management Skills

SafePlatinum2453 avatar
SafePlatinum2453
Use Quizgecko on...
Browser
Open
Browser
Browser