Project Management Study Guide PDF

Project Management Study Guide 1. Understanding Projects - Definition: A temporary endeavor to create a unique product, service, or result. - Key Attributes: Clear objective, interdependent activities, specific timeframe, involves uncertainty, requires a sponsor/customer. - Why Start a Project? To...

Project Management Study Guide 1. Understanding Projects - Definition: A temporary endeavor to create a unique product, service, or result. - Key Attributes: Clear objective, interdependent activities, specific timeframe, involves uncertainty, requires a sponsor/customer. - Why Start a Project? To drive organizational changes and create business value. - Why End a Project? Objectives are met, project is no longer viable, or the customer terminates it. 2. What is Project Management? - Definition: The application of knowledge, skills, tools, and techniques to meet project requirements. - Guided by: PMBOK (Project Management Body of Knowledge). - Key Principles: Stewardship, Teamwork, Stakeholder Engagement, Value Focus, Risk Optimization, Adaptability, etc. 3. Project Life Cycle & Process Groups - Five Process Groups: - 1. Initiating: Approve the project (Key Outputs: Project Charter, Stakeholder Register). - 2. Planning: Define scope, schedule, cost, risk (Key Outputs: Project Management Plan). - 3. Executing: Coordinate people/resources (Key Outputs: Deliverables, Work Performance Data). - 4. Monitoring & Controlling: Track progress (Key Outputs: Change Logs, Approved Change Requests). - 5. Closing: Finalize everything (Key Outputs: Final Product, Lessons Learned). 4. Knowledge Areas - There are 10 Knowledge Areas: Integration, Scope, Schedule, Cost, Quality, Resource, Communications, Risk, Procurement, Stakeholder Management. 5. Project Performance Domains (PMBOK 7th Edition) - Includes: Stakeholder, Team, Planning, Project Work, Delivery, Measurement, Uncertainty. 6. Organizational Project Management - Operations vs. Project Management: Operations are ongoing; projects are temporary. - Project Governance: Organizational rules and structures guiding decisions. - Project Environment: Internal factors (culture, IT, infrastructure) & external factors (market conditions, regulations). 7. Organizational Structures - Types: Functional (low PM authority), Project-Oriented (high PM authority), Matrix (shared power). - Matrix Strength Levels: Weak, Balanced, Strong. 8. Role of the PMO (Project Management Office) - Functions: Standardizing PM processes, providing resources/tools, overseeing project performance. - Types of PMOs: Supportive (guidelines), Controlling (compliance), Directive (manages projects). Exam Tips - Understand Key Definitions and Process Groups. - Memorize the Five Process Groups and 10 Knowledge Areas. - Understand Project Constraints and Organizational Structures. - Study PMBOK 7th Edition Domains and PMO Types. - Practice Questions on process groups, knowledge areas, and governance.