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PM Basics Part II


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time
How long the project will take and meeting deadlines
risk
Planning for both positive and negative things that could happen and dealing with them when occurring
quality
Building the right product efficiently
scope
Define tasks that will and won't be done
procurement
Defining contracts and choosing contractors to do project work
communication
Who should speak with whom, keeping everyone in the loop
integration
Keeping everyone working toward the same goal and dealing with changes
cost
Budgeting the project and tracking money spent
human resources
Getting the right people to do work and motivating them
functional organization
Teams don't work directly for the project manager, they are borrowed
projectized organization
Teams work for project manager, project manager has greater authority
acceptance criteria
conditions required to accept deliverables
activity
distinct scheduled piece of project work
actual cost
total amount we spent on that WBS component or schedule activity
project
temporary endeavor undertaken to create a unique product, service, or result
assumption
considered to be true, real, or certain, without proof and used for planning
initiating
Define and authorize the project or a project phase
planning
plan the course of action required to obtain the objectives and scope that the project was undertaken to address
monitoring
Collect project performance data with respect to a plan, produce performance measures, and report and disseminate performance information
PMBOK
A PMI publication that defines widely accepted project management practices. The CAPM and the PMP exam are based on this book.
Application Areas
The areas of expertise, industry, or function where a project is centered. Examples of application areas include architecture, IT, health care, or manufacturing.
deliverable
A product, service, or result created by the project. Projects can have multiple of these.
interpersonal
Skills such as the ability to interact, lead, motivate, and manage people.
iron triangle
A triangle with the characteristics of time, cost, and scope. Time, cost, and scope each constitute one side of the triangle; any side of the Iron Triangle must balance with the other sides
program
A collection of related projects working in unison toward a common deliverable.
PMO
A central office that oversees all projects within an organization of within a functional department.
PMO
supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.
project portfolio management
The management and selection of projects that support an organizations vision and mission. It is the balance of project priority, risk, reward, and return on investment
iron triangle
Triple Constraints of Project Management are also known as the...
phase exit
The review of a phase to determine if it accomplished its requirement.
project lifecycle
The collection of phases from start of a project to its completion.
project management system
The defined set of rules, polices, and procedures that a project manager follows and utilizes to complete the project.
projectized
An organization that assigns a project team to one project for the duration of the project life cycle. The project manager has high-to-almost-complete project power.
strong matrix
An organization where organizational resources are pooled into one project team, but the functional managers have less project power than the project manager.
weak matrix
An organization where organizational resources are pooled into one project team, but the functional managers have more project power than the project manager.
assumption
A belief that may or may not be true within a project
change request
A documented request to add to or remove from the project scope. A change request may be limited to change an organizational process asset, such as template or a form
closing
The project management process group that contains the activities to close out a project and project contracts
constraint
condition, rule, or procedure that restricts a project managers options.
cost baseline
The aggregation of the project deliverables and their associated costs.
enterprise environmental factors
Any external or internal organizational factors that can affect success. Enterprise environmental factors include the culture, organizational structure, resources, commercial databases the project wil
executing
The project management process group that provides the activities to carry out the project management plan to complete the project work.
initiating
The project management process group that allows a project to be chartered and authorized.
manage project team
The project manager must, according to enterprise environmental factors, manage the project team to ensure that they are completing their work assignments with quality and according to plan.
manage stakeholder expectations
This process is based on what the stakeholders expect from the project and on project communications from the project manager.
monitoring and controlling
The project management process group oversees, measures, and tracks project performance.
organizational process assets
The methodology an organizational uses to perform its business, as well as the guidelines, procedures, and knowledge bases, such as the lessons learned documentation from past projects and any relevan
planning
The project management process group that creates the project management plan to execute, monitor and control, and close the project.
preventive action
A risk-related action that avoids risk withing the project. A workaround to a problem within your project to move toward completion.
project calendar
The calendar that documents when the project work can occur.
project charter
A document that comes from outside of the project boundaries and authorizes the existence of a project.
scope statement
defines the project, the project deliverables, product requirements, project boundaries, acceptance procedures, and scope control.
resource calendar
calendar that documents which project resources are available for the project work.
risk register
A central repository of the project risks and their attributes.
risk
uncertain event or condition that can have a negative or positive impact on the project.
rolling wave
Iterations of planning throughout the project life cycle.
schedule baseline
The expected timeline of the project.
scope baseline
The sum of the project deliverables
work-around
immediate response to a negative risk within the project. This is an example of a corrective action.
feasibility study
Examines the viability and probability of success for a considered product or project
stakeholder
Person or organization (e.g., customer, sponsor, performing organization, or the public) that is actively involved in the project, or whose interests may be positively or negatively affected by projec
requirement
specifications or necessary prerequisites that make up the goal or deliverables of the product or service you're producing.
milestone
significant point or event in the project with no length; mandatory if specified by contract or optional if based on historical info