Project Management/Collection/SidebarProject management is the process and activity of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems.[1]
This course comprises 15 lessons on project management. Each lesson includes a combination of Wikipedia readings, YouTube videos, and hands-on learning activities. The course also assists learners in preparing for CompTIA Project+ certification.
Do an Internet search to find a recent real life project that interests you. Describe what the project is, what you liked about this project, and what you would do differently if you were assigned to this project.
Think of some projects you've had to do in your own life. This could be in your personal life or at work. What problems did you encounter, and what are some ways you can think of to prevent problems from happening?
Would you consider an occupation in project management? Why or why not?
Search on indeed.com for any project management jobs available. Share your findings.
Read the article Wikipedia: Project management software. Then do a google search on project management software. Name 3 different software you found, and which you would use.
Read the article Steps to Determine Project Feasibility. Discuss why you feel these steps are necessary in determining project feasibility. Which step do you feel is the most important and why?
Read The Best 8 Project Management Apps. Download a free application and browse around to get a better knowledge of project management through a mobile device.
Project management is essential to an organization in today’s world. “Companies, governments, and nonprofit organizations are recognizing to be successful they need to use modern project techniques, especially for IT projects. Individuals are realizing that to remain competitive in the workplace, they must develop good project skills and that many of the concepts of project management will help them in their everyday lives as they work with people and technology on a day-to-day basis”.[4]
Project management is the discipline of carefully projecting or planning, organizing, motivating and controlling resources to achieve specific goals and meet specific success criteria.[5]
The primary challenge of project management is to achieve all of the project goals and objectives while honoring the preconceived constraints.[6]
The primary constraints are scope, time, quality and budget (project management triangle).[7]
The secondary challenge is to optimize the allocation of necessary inputs and integrate them to meet pre-defined objectives.[8]
A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.[9]
Stakeholders are entities that have an interest in a given project.[10]
These stakeholders may be inside or outside an organization which: sponsor a project, or have an interest or a gain upon a successful completion of a project; may have a positive or negative influence in the project completion.[11]
A project team has mainly three separate components: Project Manager, Core Team and Contracted Team.[12]
The Project Manager is the head of the team and is the person responsible for accomplishing the stated project objectives.[13]
Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the constraints of the project management triangle, which are cost, time, scope, and quality.[14]
The project manager is accountable for ensuring that everyone on the team knows and executes his or her role.[15]
Project Managers analyze and collectively manage current or proposed projects based on numerous key characteristics.[16]
They use project portfolio management (PPM) to manage processes, methods and technologies.[17]
PPM provides program and project managers in large, program/project-driven organizations with the capabilities needed to manage the time, resources, skills, and budgets necessary to accomplish all interrelated tasks.[18]
It provides a framework for issue resolution and risk mitigation, as well as the centralized visibility to help planning and scheduling teams to identify the fastest, cheapest, or most suitable approach to deliver projects and programs.[19]
Project management software can also assist project managers with it wide range of functions such as: manage estimation and planning, scheduling, cost control and budget management, resource allocation, collaboration software, communication, decision-making, quality management and documentation or administration systems.[20]
A method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark.[21]
critical path
Sequence of project network activities which add up to the longest overall duration.[22]
ethics
The part of philosophy that deals with good and evil.[23]
gantt chart
Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project.[24]
project
A temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.[25]
project management
The discipline of carefully projecting or planning, organizing, motivating and controlling resources to achieve specific goals and meet specific success criteria.[26]
project management institute
The Project Management Institute (PMI) is a US nonprofit professional organization for project management.[27]
project deliverable
A tangible or intangible object produced as a result of the project that is intended to be delivered to a customer (either internal or external).[28]
project management professional
An internationally recognized professional designation offered by the Project Management Institute (PMI).[29]
project management tools and techniques
Methods available to assist project managers and their teams; some popular time-management tools include Gantt charts, network diagrams, and critical path analysis
project manager
A professional in the field of project management.Project managers can have the responsibility of the planning, execution and closing of any project.[30]
project portfolio management or portfolio management
The centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics.[31]
project sponsor
Ownership of projects on behalf of the client organization.[32]
stakeholder
An individual, group, or organization, who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project.[33]
PPM provides a framework for ____ resolution and ____ mitigation, as well as the centralized visibility to help planning and scheduling teams to identify the fastest, cheapest, or most suitable approach to deliver projects and programs
issue, risk
What are the three main components of a project management team?
Project Manager, Core team, and contracted team
What are the three parts to the project management triangle?
Time, quality, and budget
What is best used to illustrate start and finish dates of terminal elements of a project?
Gantt Chart
A ____ is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end. undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.
Project
____ ____ is the discipline of carefully projecting or planning, organizing, motivating and controlling resources to achieve specific goals and meet specific success criteria.
Project Management
The ____ ____ of project management is to achieve all of the project goals and objectives while honoring the preconceived constraints
primary challenge
The ____ ____ is to optimize the allocation of necessary inputs and integrate them to meet pre-defined objectives
secondary challenge
____ are entities that have an interest in a given project
Stakeholder
Stakeholders may be ____ or ____ the organization
inside, outside
The ____ ____ is the head of the team and is the person responsible for accomplishing the stated project objectives
project manager
Creating clear and attainable project objectives, building the project requirements, and managing the constraints of the project management triangle, which are cost, time, scope, and quality are key ____ ____ ____
project management responsibilities
The ____ ____ is accountable for ensuring that everyone on the team knows and executes his or her role
project manager
Project Managers ____ and ____ manage current or proposed projects based on numerous key characteristics
analyze, collectively
They use ____ ____ ____ (PPM) to manage processes, methods and technologies
Project portfolio management
____ is an individual, group or organization, who may be affected, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project
Organization is an entity made up of a body of people. Organizations include institutions, businesses or any association with a collective goal and is linked to an external environment.[1] This lesson covers the organization element of project management.
How does it affect your environment? How would the other structures affect where you work?
Write a summary of the affects and your opinion on the best suited structure for your organization.
Review Tutorialspoint: Decision Making Process. With the steps given about decision making process, compare it to the way your organization makes decisions.
You have been assigned the task of implementing the internal process standards for the organization in which you work. Research standardization methods using tools such as:
An organization consists of multiple people that has a collective goal and is linked to an external environment.[3]
There are a variety of legal types of organizations, such as corporations, governments, armed forces, charities, and educational institutions.[4]
According to management science, most human organizations fall roughly into four types including committees, ecologies, matrix, and hierarchies.[5]
Organizational culture can cause a change in which the way people and groups interact with each other, clients, and stakeholders.[6]
Organizational structure provides the foundation on which standard operating procedures and routines rest as well as determines which individuals get to participate in which decision-making processes, and thus to what extent their views shape the organization’s actions.[7]
A functional organizational structure is fitting as a producer of standardized goods and services at large volume and low cost. In addition, at coordination and specific tasks, which makes producing a limited amount of products or services efficient and predictable.[8]
In a matrix organization the functional manager assures that each type of expert in the organization is well-trained, and measured by a boss who is super-expert in the same field and the executive manager tries to get projects completed using the experts.[9]
Matrix organizational structure can be weak, balanced, or strong.[10]
An organizational chart shows the relations between people within an organization. There can be various types such as hierarchical, matrix, or flat.[11]
Governance can pertain to the processes of interaction and decision-making among the actors involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions.[12]
Governance structures and principles recognizes the rights and responsibilities among different participants in the corporation (managers, shareholders, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs.[13]
Even if the organization is a geopolitical entity (nation-state), a corporation (organization incorporated as legal entity), a socio-political entity, or an informal one, its governance is the way the rules, norms, and actions are produced, sustained, regulated and held accountable.[14]
In regards to governance mechanisms, this would include monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders.[15]
ISO, the International Organization for Standardization, is an independent, nongovernmental organization. Its standards aid in the creation of products and services that are safe, reliable and of good quality.[16]
Using the phase-gate model for product development identifies problems and assesses progress before the project's conclusion. Using this model on a large project reduces complexity of what could be a large and limiting innovation process and creates a straightforward rule-based approach. When a phase-gate model incorporates cost and fiscal analysis tools such as net present value, the organization can potentially be provided with quantitative information regarding the feasibility of developing potential product ideas. Finally, the model is an opportunity to validate the updated business case by a project's executive sponsors.[17]
The SDLC attach to phases that are important to developers, such as planning, analysis, design, and implementation. There are different types of SDLC models which are waterfall, fountain, spiral, build and fix, rapid prototyping, incremental, synchronize and stabilize. The waterfall model is the oldest and is more commonly used for project management.[18]
The Work Breakdown Structure (WBS) identifies major phases and milestones of a project in a summary. It also includes the scope and timelines which will be part of the initial project description to get the approval for the project.[19]
The basic Project Management Processes/Stages of development may be used regardless of methodology. The major process groups include Initiating, Planning, Execution, Monitoring and Controlling, and Closing.[20]
Virtual team, which can also be known as remote team, refers to a group of individuals that work together from different locations and communicate through technology. Such technology can be e-mail, Fax, video, or voice conferencing in order for each individual to collaborate on the task the team is working on.[21].
a software development approach used when requirements cannot be clearly expressed early in the life cycle.
agile software development
a method for software development that uses new approaches, focusing on close collaboration between programming teams and business experts.
business acquisition
one entity takes ownership of another entity's stock, equity interests or assets.
business demerger/split
a form of corporate restructuring in which the entity's business operations are segregated into one or more components.
business merger
a legal consolidation of two entities into one entity.
business process
an activity or set of activities that will accomplish a specific organizational goal.
deliverable
a product or services, such as a technical report, a training session, a piece of hardware, or a segment of software code, produced or provided as part of a project.
executive steering committee
coordinating people and other resources to carry out the project plans and create the products, services, or results of the project or project phase.
functional organization structure
an organizational structure that groups people by functional areas such as IT, manufacturing, engineering, and human resources.
human resources frame
a frame that focuses on producing harmony between the needs of the organization and the needs of people.
internal reorganization
an overhaul of a company's internal structure to improve efficiency, cut costs, re-position the business, and deal with corporate changes such as mergers and acquisitions.
IT governance
the authority and control for key IT activities in organizations, including IT infrastructure, IT use, and project management.
matrix organizational structure
an organizational structure in which employees are assigned to either functional managers or project managers.
organization culture
a set of shared assumptions, values, and behaviors that characterize the function of the organization.
organizational chart
shows the relations between people within an organization. There can be various types such as hierarchical, matrix, or flat.
outsourcing
an organization's acquisition of goods and services from an outside source.
phase-gate (or stage-gate or waterfall) process
a a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct stages or phases, separated by decision points known as gates.
predictive life cycle
a software development approach used when the scope can be expressed clearly and the schedule and cost can be accurately predicted.
project feasibility
an analysis and evaluation of a proposed project to determine if it is technically feasible, is feasible within the estimated cost, and will be profitable.
relocation
change in the physical location of a business due to rising costs at the current facility, better tax breaks in a different location, changes in its target market, etc.
project manager
the person responsible for working with the project sponsor, the project team, and other people involved to meet project goals.
project organizational structure
a hierarchical organizational structure that groups people by major projects and in which the organization earns its revenue primarily from performing projects for other groups under contract, i.e. defense, architectural, engineering, and consulting companies.
software development life cycle (SDLC)
a framework defining tasks performed at each step in the software development process. SDLC is a structure a development team follows within the software organization consisting of a detailed plan describing how to develop, maintain and replace specific software.
structural frame
a frame that deals with how the organization is structured and focuses on different groups roles and responsibilities to meet the goals and policies set by top management.
waterfall model
it is the oldest SDLC type and is more commonly used for project management than any other. It is a sequential design process in which progress is seen as flowing steadily downwards (like a waterfall) through the phases of Conception, Initiation, Analysis, Design, Construction, Testing, Production/Implementation and Maintenance.
An _____ consists of multiple people that have a collective goal and is linked to an external environment.
An organization consists of multiple people that have a collective goal and is linked to an external environment.
There are a variety of legal types of organizations such as, _____, _____, _____, _____, and _____.
There are a variety of legal types of organizations such as corporations, governments, armed forces, charities, and educational institutions.
According to management science, most _____ fall roughly into four types including _____, _____, _____, and _____.
According to management science, most human organizations fall roughly into four types including committees, ecologies, matrices, and hierarchies.
Organizational _____ can cause a change in which the way people and groups interact with each other, clients, and stakeholders.
Organizational culture can cause a change in which the way people and groups interact with each other, clients, and stakeholders.
Organizational _____ provides the foundation on which standard operating procedures and routines rest as well as determines which individuals get to participate in which _____, and thus to what extent their views shape the organization’s actions.
Organizational structure provides the foundation on which standard operating procedures and routines rest as well as determines which individuals get to participate in which decision-making processes, and thus to what extent their views shape the organization’s actions.
The three basic organizational structures are ____, ____, and ____. Project managers have the most authority in a ___ project organization, an intermediate amount of authority in a ___ organization, and the least amount of authority in a pure ___ organization.
The three basic organizational structures are functional, matrix, and project. Project managers have the most authority in a pure project organization, an intermediate amount of authority in a matrix organization, and the least amount of authority in a pure functional organization.
In a _____ organization the functional manager assures that each type of expert in the organization is well-trained, and measured by a boss who is a super-expert in the same field. The executive manager tries to get projects completed using the experts.
In a matrix organization the functional manager assures that each type of expert in the organization is well-trained, and measured by a boss who is a super-expert in the same field. The executive manager tries to get projects completed using the experts.
Matrix organizational structure can be _____, _____, or _____.
Matrix organizational structure can be weak, balanced, or strong.
An organizational _____ shows the relations between people within an organization of which there can be various types such as _____, _____, or _____.
An organizational chart shows the relations between people within an organization of which there can be various types such as hierarchical, matrix, or flat.
_____ can pertain to "the processes of interaction and decision-making among the actors involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions."
Governance can pertain to "the processes of interaction and decision-making among the actors involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions."
Governance _____ and _____ recognize the rights and responsibilities among different participants in the corporation (managers, shareholders, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs.
Governance structures and principles recognize the rights and responsibilities among different participants in the corporation (managers, shareholders, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs.
Even if the _____ is a geopolitical entity (nation-state), a corporation (organization incorporated as legal entity), a socio-political entity, or an informal one, its _____ is the way the rules, norms, and actions are produced, sustained, regulated and held accountable.
Even if the organization is a geopolitical entity (nation-state), a corporation (organization incorporated as legal entity), a socio-political entity, or an informal one, its governance is the way the rules, norms, and actions are produced, sustained, regulated and held accountable.
In regards to _____, this would include monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders.
In regards to governance mechanisms, this would include monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders.
ISO, the _____, is an independent, nongovernmental organization which aids in the creation of products and services that are safe, reliable and of good quality.
ISO, the International Organization for Standardization, is an independent, nongovernmental organization which aids in the creation of products and services that are safe, reliable and of good quality.
At each _____, the continuation of the process is decided by (typically) a manager or a steering committee.
At each gate, the continuation of the process is decided by (typically) a manager or a steering committee.
The second phase of the product development process is _____.
The second phase of the product development process is scoping.
The Work Breakdown Structure (WBS) identifies major _____ and _____ of a project in a summary. It also includes the _____ and _____ which will be part of the initial project description to get the approval for the project.
The Work Breakdown Structure (WBS) identifies major phases and milestones of a project in a summary. It also includes the scope and timelines which will be part of the initial project description to get the approval for the project.
The basic Project Management Processes/Stages of development may be used regardless of _____. The major process groups include _____,Planning, _____, Monitoring and Controlling, and _____.
The basic Project Management Processes/Stages of development may be used regardless of methodology. The major process groups include Initiating, Planning, Execution, Monitoring and Controlling, and Closing.
Virtual team, which can also be known as _____, refers to a group of individuals that work together from different _____ and communicate through technology. Such technology can be e-mail, _____, _____, or voice conferencing in order for each individual to collaborate on the task the team is working on.
Virtual team, which can also be known as remote team, refers to a group of individuals that work together from different locations and communicate through technology. Such technology can be e-mail, Fax, video, or voice conferencing in order for each individual to collaborate on the task the team is working on.
_____ Software Development is an approach to software development where solutions evolve through the effort of organizing, collaborating and functional teams with their customer or client. The software encourages a rapid response to _____ and supports planning, development, and improvement.
Agile Software Development is an approach to software development where solutions evolve through the effort of organizing, collaborating and functional teams with their customer or client. The software encourages a rapid response to change and supports planning, development, and improvement.
Read Wikipedia: Project_management and summarize each of the Project Management Process Groups (Initiating, Planning, Executing, Monitoring/Controlling, and Closing). Identify at least 3 tasks that would occur during each phase.
Read Wikipedia: Project_plan#Purpose and describe why you think answering these questions Why? What? Who? and When? are important for project planning.
Click on PRINCE2.com. Check out the opportunities to learn the PRINCE2 process.
Read iSixSigma: What Is Six Sigma and define what a Six Sigma defect is. Create a flowchart showing a project process.
Traditionally, project management includes a number of elements: four to five project management process groups, and a control system. [2]
Regardless of the methodology or terminology used, the same basic project management processes or stages of development will be used. Major process groups generally include: Initiation, Planning, Execution, Monitoring/Controlling, and Closing.[3]
The initiating processes determine the nature and scope of the project.[4]
The initiating processes facilitate formal authorization to start a new project.[5]
After the initiation stage, the project is planned to an appropriate level of detail. The main purpose is to plan time, cost and resources adequately to estimate the work needed and to effectively manage risk during project execution.[6]
Project Planning generally consists of determining how to plan, developing a scope statement, identifying deliverables, creating the work breakdown structure, as well as estimating time, cost, and risk.[7]
The execution phase ensures that the project management plan's deliverables are executed accordingly.This phase involves proper allocation, co-ordination and management of human resources and any other resources such as materials and budgets.[8]
Monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project.[9]
Monitoring and controlling includes measuring the ongoing project activities, monitoring the project variables, identifying corrective actions to address issues and risks properly, and Influencing the factors that could circumvent integrated change control so only approved changes are implemented.[10]
Closing includes the formal acceptance of the project and the ending thereof. Administrative activities include the archiving of the files, documenting lessons learned, closing contracts and writing a Post Implementation Review.[11]
To manage risk, a risk register (or risk log e.g. in PRINCE2 and formatted either as a table or as a scatterplot) is used as a risk management tool to fulfill regulatory compliance acting as a repository for all risks identified and includes additional information about each risk, e.g. nature of the risk, reference and owner, mitigation measures.[12]
Additional processes, such as planning for communications and for scope management, identifying roles and responsibilities, determining what to purchase for the project and holding a kick-off meeting are also generally advisable.[13]
A work breakdown structure (WBS), in project management and systems engineering, is a deliverable-oriented decomposition of a project into smaller components.[14]
Quality management ensures that an organization, product or service is consistent. It has four main components: quality planning, quality assurance, quality control and quality improvement.[15]
The scope statement details the project deliverables and describes the major objectives. The objectives should include measurable success criteria for the project.[16]
Over the course of any project, the work scope may change. Change is normal and expected. This needs to be documented to show what is being changed. A change management form is used to accomplish this.[17]
Agile software development is an umbrella term for a set of methods and practices based on the values and principles expressed in the Agile Manifesto. Solutions evolve through collaboration between self-organizing, cross-functional teams and their customers/end users. It promotes adaptive planning, evolutionary development, early delivery, and continual improvement, and encourages rapid and flexible response to change.[18]
The most popular agile methodologies include Extreme Programming (XP), Scrum, Crystal, Dynamic Systems Development Method (DSDM), Lean Development, and Feature-Driven Development (FDD).[19]
A sprint (or iteration) is the basic unit of development in Scrum. The sprint is a timeboxed effort; that is, it is restricted to a specific duration. The duration is fixed in advance for each sprint and is normally 2-4 weeks.[20]
Scrum is a methodology that allows a team to self-organize and make changes quickly, in accordance with agile principles.[21]
A scrum master is the facilitator for an agile development team who manages the process for how information is exchanged.[22]
Agile software development describes a set of principles for software development under which requirements and solutions evolve.[23]
artifact
An artifact is one of many kinds of tangible by-products. Artifacts are significant from a project management perspective as deliverables.[24]
burndown chart
A burn down chart is a graphical representation of work left to do versus time.[25]
closing processes
Closing involves gaining stakeholder and customer acceptance of the final products and services and bringing the project or project phase to an orderly end by verifying that all deliverables are complete. It should include a final project report and presentation.[26]
daily Scrum
Each day during a Sprint, the team holds a Daily Scrum which is a timeboxed meeting with specific guidelines.[27]
executing processes
The execution/implementation phase ensures that the project management plan's deliverables are executed accordingly. This phase involves proper allocation, co-ordination and management of human resources and any other resources such as material and budgets. The output of this phase is the project deliverables.[28][29]
initiating processes
The initiating processes determine the nature and scope of the project.[30][31]
kick-off meeting
A kickoff meeting is the first meeting with the project team and the client of the project. This meeting would follow definition of the base elements for the project and other project planning activities.[32]
methodology
A software development methodology is a splitting of software development work into distinct phases (or stages) containing activities with the intent of better planning and management.[33]
monitoring and controlling processes
Monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project.[34]
planning processes
Planning processes are used to plan time, cost and resources adequately to estimate the work needed and to effectively manage risk during project execution.[35][36]
product backlog
The Product Backlog comprises an ordered list of requirements that a Scrum Team maintains for a product. It consists of features, bug fixes, non-functional requirements, and whatever else must be done to successfully deliver a viable product.[37]
product owner
The Product Owner represents the product's stakeholders and the voice of the customer; and is accountable for ensuring that the team delivers value to the business.[38]
project management process groups
Traditionally, project management includes four to five project management process groups and a control system. Major process groups generally include Initiation, Planning, Execution, Monitoring and Controlling, and Closing[39]
PRojects IN Controlled Environments (PRINCE2)
The project-management methodology PRINCE2 encompasses quality management, control and organization of a project with consistency and review to align with project objectives.[40]
Rational Unified Process (RUP) framework
The Rational Unified Process is an iterative software development process framework intended to be tailored by the development organizations and software project teams that will select the elements of the process that are appropriate for their needs.[41]
scrum
Scrum is an agile methodology that allows a team to self-organize and make changes quickly.
Six Sigma methodologies
Six Sigma is a set of techniques and tools for process improvement which seeks to improve the quality of the output of a process by identifying and removing the causes of defects.[42] Two methodologies, composed of five phases each, bear the acronyms DMAIC and DMADV.[43]
sprint
Sprint is the basic unit of development in Scrum and is restricted to a specific duration, which is usually 2-4 weeks.
Initiating processes takes place during _____ phase of a project.
Initiating processes takes place during each phase of a project.
What is a method based on interactive and incremental development, which requirements and solutions evolve through collaboration?
Agile is a method based on interactive and incremental development, which requirements and solutions evolve through collaboration.
Performance reports are common outputs of _______ and _______.
Performance reports are common outputs of monitoring and controlling.
The _____ is a ______ that describes best practices for what should be done to manage a project.
The PMBOK Guide is standard that describes best practices for what should be done to manage a project.
_____ _____ _____ is a form of adaptive software development.
Agile software development is a form of adaptive software development.
A ______ ______ is a document that includes details related to the identified project stakeholders.
A stakeholder register is a document that includes details related to the identified project stakeholders.
A ______ ______ is a technique that project managers can use to help understand and increase the support of stakeholders throughout the project.
A stakeholder analysis is a technique that project managers can use to help understand and increase the support of stakeholders throughout the project.
A ____ _____ is a meeting that is held at the beginning of the project so stakeholders can meet, review project goals, and discuss future plans.
A kick-off meeting is a meeting that is held at the beginning of the project so stakeholders can meet, review project goals, and discuss future plans.
____ is the leading agile development method for completing projects with a complex, innovative scope of work.
Scrum is the leading agile development method for completing projects with a complex, innovative scope of work.
Many people use ______ to have a standard format for preparing various project management documents.
Many people use template to have a standard format for preparing various project management documents.
Communication is a process by which meaning is assigned and conveyed in an attempt to create shared understanding.[2]
The basic steps of communication are the forming of communicative intent, message composition, message encoding, transmission of signal, reception of signal, message decoding and finally interpretation of the message by the recipient.[3]
Non-verbal communication includes the use of visual cues such as body language, distance, and physical environments/ appearance.[4]
Stakeholder management is a critical component to the successful delivery of any project and will create positive relationships with stakeholders through the appropriate management of their expectations and agreed objectives if done effectively.[5]
Internally, operating systems typically use UTC as their basic time-keeping standard, while providing services for converting local times to and from UTC, and also the ability to automatically change local time conversions at the start and end of daylight savings time in the various time zones.[6]
The functional or hierarchical structure is particularly useful in times of crises or other scenarios where an organization needs to control its communication through gatekeepers who manage it both internally and externally.[7]
Language barrier is a figurative phrase used primarily to indicate the difficulties faced when people who have no language in common attempt to communicate with each other.[8]
Cultural diversity is important because our country, workplaces, and schools increasingly consist of various cultural, racial, and ethnic groups. We can learn from one another, but first we must have a level of understanding about each other in order to facilitate collaboration and cooperation.[9]
A communication trigger is when a change occurs that affects the project and so must be discussed with the appropriate stakeholders or team members to prevent a project delay or other problem.[10]
A change to any of the triple constraints (budget, scope or schedule) is a communication trigger.[11]
The target audience for a communication trigger is determined by the type of information or trigger. An example is if there is a scope change, a change request form will be submitted to the Change Control Board with reasons for the change.[12]
The systematic planning, implementing, monitoring, and revision of all the channels of communication within an organization, and between organizations; it also includes the organization and dissemination of new communication directives connected with an organization, network, or communications technology.[13]
communication software
Used to provide remote access to systems and exchange files and messages in text, audio and/or video formats between different computers or users.[14]
communication triggers
indicators or events that a risk may occur or has occurred.
forecasting
The process of making predictions of the future based on past and present data and analysis of trends.[15]
interactive communication
An exchange of ideas where both participants, whether human, machine or art form, are active and can have an effect on one another. It is a dynamic, two-way flow of information.[16]
intercultural communication
Form of communication that aims to share information across different cultures and social groups. It is used to describe the wide range of communication processes and problems that naturally appear within an organization or social context made up of individuals from different religious, social, ethnic, and educational backgrounds.[17]
internal communication
The function responsible for effective communications among participants within an organization.[18]
kickoff meeting
The first meeting with the project team and the client of the project. This meeting would follow definition of the base elements for the project and other project planning activities.[19]
language barrier
Figurative phrase used primarily to indicate the difficulties faced when people who have no language in common attempt to communicate with each other.[20]
sharePoint portal
A web application platform in the Microsoft Office server suite. SharePoint is often used to store, track, and manage electronic documents and assets.[21]
soft skills
Term often associated with a person's "EQ" (Emotional Intelligence Quotient), which is the cluster of personality traits that characterize one's relationships with other people. These skills can include social graces, communication abilities, language skills, personal habits, cognitive or emotional empathy, and leadership traits.[22]
stand-up meeting
A meeting in which attendees typically participate while standing. The discomfort of standing for long periods is intended to keep the meetings short.[23]
two-way communication
Is a form of transmission in which both parties involved transmit information. Two-Way communication has also been referred to as interpersonal communication.[24]
wiki
A website which allows collaborative modification of its content and structure directly from the web browser.[25]
___________ is a process by which meaning is assigned and conveyed in an attempt to create shared understanding.
Communication is a process by which meaning is assigned and conveyed in an attempt to create shared understanding.
The basic steps of communication are the forming of communicative intent, message composition, message encoding, transmission of signal, reception of signal, message ________ and finally interpretation of the message by the recipient.
The basic steps of communication are the forming of communicative intent, message composition, message encoding, transmission of signal, reception of signal, message decoding and finally interpretation of the message by the recipient.
Developing an external communication planning strategy can be acquired through the following four stages: _____, _____, strategy and plan, and _____.
Developing an external communication planning strategy can be acquired through the following four stages: audit, objectives, strategy and plan, and result.
__________ communications keep stakeholders in the loop, but also sending too much communication can actually hamper the amount of work that gets done.
Frequent communications keep stakeholders in the loop, but also sending too much communication can actually hamper the amount of work that gets done.
Non verbal communication includes the use of visual cues such as body language, distance, physical environments/appearance of ______ and of _______.
Non verbal communication includes the use of visual cues such as body language, distance, physical environments/appearance of voice and of touch.
__________ Distribution is information collection, sharing, and distribution to project stakeholders in a timely manner across the project life cycle.
Information Distribution is information collection, sharing, and distribution to project stakeholders in a timely manner across the project life cycle.
A successful _______ meeting should include the following discussion points: meeting and project objectives, project approach, deliverables, project team, roles and responsibilities, change control, communication plan, high level requirements, and timeline.
A successful kickoff meeting should include the following discussion points: meeting and project objectives, project approach, deliverables, project team, roles and responsibilities, change control, communication plan, high level requirements, and timeline.
________ management is a critical component to the successful delivery of any project and will create positive relationships with stakeholders through the appropriate management of their expectations and agreed objectives if done effectively.
Stakeholder management is a critical component to the successful delivery of any project and will create positive relationships with stakeholders through the appropriate management of their expectations and agreed objectives if done effectively.
The process of managing stakeholders is an activity of communicating with stakeholders and managing their expectations and concerns for the purpose of meeting the stakeholder _____, addressing issues, resolving conflict situations, and achieving the project goals.
The process of managing stakeholders is an activity of communicating with stakeholders and managing their expectations and concerns for the purpose of meeting the stakeholder needs, addressing issues, resolving conflict situations, and achieving the project goals.
Internally, operating systems typically use UTC as their basic time-keeping standard, while providing services for converting local times to and from UTC, and also the ability to automatically change local time conversions at the start and end of daylight saving time in the various ________ zones.
Internally, operating systems typically use UTC as their basic time-keeping standard, while providing services for converting local times to and from UTC, and also the ability to automatically change local time conversions at the start and end of daylight saving time in the various time zones.
There are various types of communication preferences or methods that one could utilize such as face to face, video conferencing, _______ etc.
There are various types of communication preferences or methods that one could utilize such as face to face, video conferencing, telephone etc.
The functional or ________ structure is particularly useful in times of crises or other scenarios where an organization needs to control its communication through gatekeepers who manage it both internally and externally.
The functional or hierarchical structure is particularly useful in times of crises or other scenarios where an organization needs to control its communication through gatekeepers who manage it both internally and externally.
_________ barrier is a figurative phrase used primarily to indicate the difficulties faced when people who have no language in common attempt to communicate with each other.
Language barrier is a figurative phrase used primarily to indicate the difficulties faced when people who have no language in common attempt to communicate with each other.
Given the geographical and organizational _______ within typical project teams today, successful project managers should also consider how the team can best communicate, and to put in place tools to facilitate efficient and frequent communication.
Given the geographical and organizational diversity within typical project teams today, successful project managers should also consider how the team can best communicate, and to put in place tools to facilitate efficient and frequent communication.
Know the Project Vision. The first measure taken when determining a Project Charter is to identify the project vision. The vision encapsulates the purpose of the project and is the fixed end goal for the project team.
Identify your objectives. Then supported on the vision, list three to five targets to be reached by the project. Every aim should be Specific, Measurable, Attainable, Real and Time-bound (SMART).[3]
Create a team if necessary for the project.
Using a stakeholder mapping method, identify the primary stakeholders.
Select a Project Charter template from one of the following sites:
Add your project information to your selected template to create your project charter.
Although the format of project charters can vary tremendously, they should include at least the following basic information:
The project’s title and date of authorization
The project manager’s name and contact information
A summary schedule, including the planned start and finish dates; if a summary milestone schedule is available, it should also be included or referenced
A summary of the project’s budget or reference to budgetary documents, an estimate of the approximate cost of the project in money and time.
A brief description of the project's high level objectives, including the business need or other justification for authorizing the project
Project success criteria, including project approval requirements and who signs off on the project
A summary of the planned approach for managing the project, which should describe stakeholder needs and expectations, important assumptions, and constraints, and should refer to related documents, such as a communications management plan, as available
A roles and responsibilities matrix
A sign-off section for signatures of key project stakeholders
A comments section in which stakeholders can provide important comments related to the project
The initiating processes determine the nature and scope of the project.[4]
Although ideas for projects usually abound in non-profit organizations, proposal writers can try to generate fresh ideas by reading newspapers, journals or newsletters related to your organization's mission and talking to colleagues about what topics seem to be getting the most attention in your field. Try to find a unique approach to solving a problem or combination of problems. [5]
Most projects fail due to poor definition. This is the leading cause of scope creep, which leads to unavailable resources and more time and budget necessary to completely satisfy scope. Since the plan reflects the work, resources, budget, and time necessary to satisfy the scope it is easy to see the critical importance of understanding the project definition and description. It is also necessary to ensure agreement from all stakeholders before planning. Let stakeholders review the draft of the project definition document, and get their sign-off, before moving to the planning phase of the project. [6]
The project charter is usually a short document that refers to more detailed documents such as a new offering request or a request for proposal.[7]
The project charter is formally accepted and approved by the project sponsor and other designated stakeholders. Formal approval acknowledges the completion, review and acceptance of all the deliverables produced during the Initiate Stage. Signatures on the project charter document mark final approval of the charter, which is the go-forward agreement. [8]
Project Charter is a statement of the scope, objectives, and participants in a project. It provides a preliminary delineation of roles and responsibilities, outlines the project objectives, identifies the main stakeholders, and defines the authority of the project manager. It serves as a reference of authority for the future of the project.[7]
Project Management Office (PMO) is a department within a business, agency, or enterprise that defines and maintains standards for project management within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects.
A key deliverable is an item - either tangible or intangible - produced as a part of a project. [9]
Milestones are deliverables or major events to be achieved on a specified date. They can be viewed as ”how are we doing” thresholds indicating whether a project is on track to finish as expected. [10]
A high-level budget is a summary of the estimated costs to complete the high-level project milestones. Generally, there are three types of costs that can be included in a high-level budget: Labor costs, Material costs, Non-labor costs. [11]
Stakeholder analysis is the process of identifying the individuals or groups that are likely to affect or be affected by a proposed action, and sorting them according to their impact on the action and the impact the action will have on them.[12]
The objective of the project management approach is to define the project management methodologies that will be used on the project. The approach should be based on the project management framework but should also include reference to and iterative development, or prototyping methodologies that will be utilized. [13]
A problem statement is a clear description of the issue(s), it includes a vision, issue statement, and method used to solve the problem. A problem statement expresses the words that will be used to keep the effort focused and it should represent a solveable problem. [14]
Project Assumptions are events or circumstances that are expected to occur during the project life-cycle. [15]
Project Constraints are restrictions imposed by Stakeholders or Environment that limits Project Team’s options. [16]
During the early phases of project planning, assessments must be made as to whether the project can be completed successfully. Usually these are GO/ NO GO decisions. While very little detail may be known at this point, the high-level risks should attempt to be identified and assessed. These steps include: identifying risks at the highest level of the work tasks; analyzing the associated costs and benefits of the project to determine the relative risks of potential gains; and developing high-level mitigation strategies to reduce the impact of potential events. [17]
The project objective describes the project’s outcomes: intended and direct, short- and medium-term effects on the target group. The project objective must lie within the scope of the project, and one must be able to directly attribute the effects to the project. [18]
contract - An agreement between two or more parties.[21]
cost - The value of money that is correlated to an item or service.[22]
deliverable - A product or service produced or provided as part of a project.[23]
enterprise environmental factors- Includes relevant government or industry standards, the organization’s infrastructure, and marketplace conditions.[24]
initiating - Processes defining and authorizing a project and/or project phase.[25]
milestones - Specific points along a project timeline.[26]
organizational process assets - include formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned, and historical information that can influence a project’s success.[28]
problems - Undesirable situations that prevent an organization from achieving its goals.[29]
project - A temporary endeavor undertaken to create a unique product, service, or result.[30]
project charter - A document that formally recognizes the existence of a project and provides direction on the project’s objectives and management.[31]
project manager - A professional in the field of project management.[32]
risk - Potentially gaining or losing of something[33]
schedule - A plan for carrying out a process or procedure, giving lists of intended events and times.[34]
scope - All the work involved in creating the products of the project and the processes used to create them.[35]
stakeholders - People involved in or affected by project activities.[36]
stakeholder analysis - A technique for analyzing information to determine which stakeholders’ interests to focus on and how to increase stakeholder support throughout the project.[37]
statement of work- a document that describes the products or services to be created by the project team.[38]
task - An activity that needs to be accomplished within a period of time.[39]
template - A preset format for a document or file, used so that the format does not have to be recreated each time it is used.[40]
The ______ processes determine the nature and scope of the project
Initiating
Although ideas for _____ usually abound in non-profit organizations, proposal writers can try to generate fresh ideas by reading newspapers, journals or newsletters related to your organization's mission and talking to colleagues about what topics seem to be getting the most attention in your field. [4]
Projects
Most projects fail due to poor definition. This is the leading cause of scope _____, which leads to unavailable resources and more time and budget necessary to completely satisfy scope.
Creep
The project _____ is usually a short document that refers to more detailed documents such as a new offering request or a request for proposal.
Charter
The project charter is formally accepted and approved by the project _____ and other designated stakeholders.
Sponsor
Project Charter is a statement of the _____, objectives, and participants in a project.
Scope
A key _____ is an item - either tangible or intangible - produced as a part of a project.
Deliverable
_____ are deliverables or major events to be achieved on a specified date. Milestones can be viewed as ”how are we doing” thresholds indicating whether a project is on track to finish as expected.
Milestones
A high-level budget is a summary of the estimated costs to complete the high-level project milestones. Generally, there are three types of costs that can be included in a high-level budget: _____ costs, _____ costs, Non-labor costs. [10]
Labor, Material
_____ analysis is the process of identifying the individuals or groups that are likely to affect or be affected by a proposed action, and sorting them according to their impact on the action and the impact the action will have on them.[11]
Stakeholder
The objective of the project management approach is to define the project management _____ that will be used on the project.
Methodologies
A problem statement expresses the words that will be used to keep the effort focused and it should represent a _____ problem.
Solvable
Project _____ are events or circumstances that are expected to occur during the project life-cycle.
Assumptions
Project _____ are restrictions imposed by Stakeholders or Environment that limits Project Team’s options.
Constraints
During the early phases of project _____, assessments must be made as to whether the project can be completed successfully.
Planning
The project objective must lie within the _____ of the project, and one must be able to directly attribute the effects to the project.
Name the two types of constraints and how they differ?
Write down two examples of each type of constraint that will affect you and your project.
Read about Key Performance Indicators and write down three ways you will measure the progress and success of the project.
Watch Project Scope: Defining Objectives. Project Objectives must be clear, concise and measurable. Review the objectives associated with your project and determine if there is a way to measure the success.
A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity in which it engages. KPI's define a set of values against which to measure.[2]
The scope statement details the project deliverables and describes the major objectives.[3]
The scope of a project is the clear identification of the work that is required to successfully complete or deliver a project.[4]
One of the project manager’s responsibilities is to ensure that only the required work (the scope) will be performed and that each of the deliverables can be completed in the allotted time and within budget.[5]
The documentation of the scope of the project will explain the boundaries of the project, establish the responsibilities of each member of the team and set up procedures for how work that is completed will be verified and approved.[6]
The boundaries of a project are the reasonable limits of project work to determine what is included in the project and what’s not.[7]
The scope statement will also help make sure all key stakeholders are on the same page. By setting proper expectations with your stakeholders you can reduce the chances of misunderstandings arising later and possibly derailing the entire project.[8]
The assumptions and constraints can be identified and documented throughout the project’s life cycle. These parameters play an important role during the planning process.[9]
Constraints are limitations imposed on the project, such as the limitation of cost, schedule, or resources, and you have to work within the boundaries restricted by these constraints. All projects have constraints, which are defined at the beginning of the project.[10]
The PMBOK Guide recognizes six project constraints: scope, quality, schedule, budget, resource and risk. Out of these six, scope, schedule, and budget are collectively known as the triple constraints.[11]
An assumption is a belief of what you assume to be true in the future. You make assumptions based on your knowledge, experience or the information available on hand. These are anticipated events or circumstances that are expected to happen during your project’s life cycle.[12]
Acceptance criteria are those criteria, including performance requirements and essential conditions, which must be met before project deliverables are accepted (PMBOK® Guide V4). They set out the specific circumstances under which the user will accept the final output of the project. They are criteria against which we can measure, achieve, and prove to our clients that our work is complete.[13]
The validate scope process is performed by the project manager with the client after the deliverable or the product is completed. The purpose of this process is to ensure that the client accepts the product formally.[14]
Benchmarking is comparing one's business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.[15]
key performance indicator
A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity in which it engages.[16]
product scope
The features and functions that characterize a product, service, or result.[17]
project scope
The work that needs to be accomplished to deliver a product, service, or result with the specified features and functions.[18]
project scope management
Project Scope Management refers to the set of processes that ensure a project's scope is defined and mapped accurately.[19]
project scope statement
A project scope statement is a useful tool to outline the project’s deliverables and identify the constraints, assumptions and key success factors. The well-written scope statement clearly defines the boundaries of a project.[20]
requirements management
The purpose of requirements management is to ensure that an organization documents, verifies, and meets the needs and expectations of its customers and internal or external stakeholders.[21]
scope baseline
The scope baseline consists of the project scope statement, WBS, and WBS dictionary.[22]
scope creep
Scope creep in project management refers to changes, continuous or uncontrolled growth in a project’s scope, at any point after the project begins. This can occur when the scope of a project is not properly defined, documented, or controlled.[23]
scope validation
A project manager implements the Validate Scope process to obtain written confirmation—formal sign-off—from all of the stakeholders that the deliverables match the requirements and the Project Management plan—formal acceptance.[24]
work breakdown structure (WBS)
A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.[25]
A performance indicator or key performance indicator (KPI) is a type of performance ______.
A performance indicator or key performance indicator (KPI) is a type of performance measurement.
The scope ___________ details the project deliverables and describes the major objectives.
The scope statement details the project deliverables and describes the major objectives.
The ______ of a project is the clear identification of the work that is required to successfully complete or deliver a project.
The scope of a project is the clear identification of the work that is required to successfully complete or deliver a project.
One of the project manager’s responsibilities is to ensure that only the required work (the scope) will be performed and that each of the deliverables can be completed in the allotted ______ and within ______.
One of the project manager’s responsibilities is to ensure that only the required work (the scope) will be performed and that each of the deliverables can be completed in the allotted time and within budget.
The documentation of the scope of the project will explain the ______ of the project, establish the ______ of each member of the team and set up ______ for how work that is completed will be verified and approved.
The documentation of the scope of the project will explain the boundaries of the project, establish the responsibilities of each member of the team and set up procedures for how work that is completed will be verified and approved.
The boundaries of a project are the reasonable limits of project ______ to determine what is included in the project and what’s not.
The boundaries of a project are the reasonable limits of project work to determine what is included in the project and what’s not.
The scope statement will also help make sure all key ______ are on the same page.
The scope statement will also help make sure all key stakeholders are on the same page.
The ______ and ______ can be identified and documented throughout the project’s life cycle.
The assumptions and constraints can be identified and documented throughout the project’s life cycle.
Constraints are ______ imposed on the project and you have to work within the boundaries restricted by these constraints.
Constraints are limitations imposed on the project and you have to work within the boundaries restricted by these constraints.
The PMBOK Guide recognizes six project constraints: ______, ______, ______, ______, ______, and ______.
The PMBOK Guide recognizes six project constraints: scope, quality, schedule, budget, resource and risk.
Scope, schedule, and budget are collectively known as the ______ constraints.
Scope, schedule, and budget are collectively known as the triple constraints.
An assumption is a belief of what you assume to be ______ in the future.
An assumption is a belief of what you assume to be true in the future.
______ criteria are those criteria, including performance requirements and essential conditions, which must be met before project deliverables are accepted
Acceptance criteria are those criteria, including performance requirements and essential conditions, which must be met before project deliverables are accepted
The ______ scope process is performed by the project manager with the client after the deliverable or the product is completed.
The validate scope process is performed by the project manager with the client after the deliverable or the product is completed.
Change Management involves identifying, evaluating and managing changes throughout the project lifecycle.[4]
Change Management is used to ensure that standardized methods and procedures are used for efficient and prompt handling of all changes to control.[5]
The three main objectives are: influencing factors that create change to ensure that the change is beneficial, determining that a change has occurred and managing changes as they occur.[6]
Change management would typically be composed of: raising and recording of changes, assessing the impact, cost, benefit and risk of proposed changes, developing business justification and obtaining approval, managing and coordinating change implementation, monitoring and reporting on implementation, reviewing and closing change requests.[7]
Every change that enters the project must pass through this change control process.[8]
A CCB (change control board) is a formal group of people responsible for approving or rejecting changes to a project. The primary functions of a CCB are to provide guidelines for preparing change requests, evaluating change requests and managing the implementation of approved changes.[9]
When the change control board approves or declines the change request the change requestor is informed of the project decision. All decisions on change requests are documented for future reference. If an approved change request affects the project scope then configuration management is enforced. The authority of the change control board may vary from project to project, but decisions reached by the change control board are often accepted as final and binding.[10]
A change log is a record of requests for change (RFCs) submitted for all changes in a service.[11]
Change requests typically originate from one of five sources: problem reports that identify bugs that must be fixed, which forms the most common source, system enhancement requests from users, events in the development of other systems, changes in underlying structure and or standards (e.g. in software development this could be a new operating system), demands from senior management.[12]
Change management procedures are formally documented and controlled.[13]
Change impact analysis identifies the potential consequences of a change, or estimates what needs to be modified to accomplish a change.[14]
Risk event is an occurrence that has a negative impact on the project.[15]
Scope creep is a risk in most projects. It can be a result of poor change control, lack of proper initial identification of what is required to bring about the project objectives, weak project manager or executive sponsor, poor communication between parties and lack of initial product versatility.[16]
Cost Control is a factor that creates cost fluctuation and variance that can be influenced and controlled using various cost management tools. [17]
Successful change management is more likely to occur if the following are included:[18]
Define measurable Project stakeholder aims and create a business case for their achievement (which should be continuously updated)
Monitor assumptions, risks, dependencies, costs, return on investment, dis-benefits and cultural issues
Effective communication that informs various stakeholders of the reasons for the change (why?), the benefits of successful implementation (what is in it for us, and you) as well as the details of the change (when? where? who is involved? how much will it cost? etc.)
Devise an effective education, training and/or skills upgrading scheme for the organization
Counter resistance from the employees of companies and align them to overall strategic direction of the organization
Provide personal counseling (if required) to alleviate any change-related fears
Monitoring of the implementation and fine-tuning as required
In some cases, even after a change is evaluated and approved, it may be necessary to return to the project state prior to the incorporation of the change. For this reason, the project manager creates a Regression Plan.[19]
Turnaround time means the amount of time taken to fulfill a request.[20]
A committee that makes decisions regarding whether or not proposed changes to a software project should be implemented.[21]
change impact analysis (IA)
Identifies the potential consequences of a change, or estimating what needs to be modified to accomplish a change.[22]
change log
Record of all notable changes made to a project.[23]
change management
Structured process and set of tools for managing the people side of change such that business results are achieved, on time and on budget.[24]
change request
Document containing a call for an adjustment of a system.[25]
cost control
A factor that creates cost fluctuation and variance that can be influenced and controlled using various cost management tools.[26]
organizational change management
Includes specific actions and steps that can be taken to implement a change management program. Prosci's 3-phase change management process (preparing for, managing and reinforcing change) is a methodology for implementing organizational change management.[27]
regression plan
A plan developed in case the change needs to be reversed.[28]
risk event
An occurrence that has a negative impact on the project[29]
schedule control
The actual process of maintaining control of the changes that may occur to a schedule.[30]
scope change
A change to the agreed scope and objectives of the project to accommodate a need not originally defined to be part of the project.[31]
triple constraint
A combination of the three most significant restrictions on any project- scope, schedule and cost. It is sometimes referred to as the project management triangle or the iron triangle.[32]
turnaround time (TAT)
The amount of time taken to fulfill a request.[33]
_________________ is a structured process and set of tools for managing the people side of change such that business results are achieved, on time and on budget.
Change management is a structured process and set of tools for managing the people side of change such that business results are achieved, on time and on budget.
Decisions reached by the ____________________ are often accepted as final and binding.
Decisions reached by the Change Control Board(CCB) are often accepted as final and binding.
_________________ is the combination of the three most significant restrictions on any project- scope, schedule and cost. It is sometimes referred to as the project management triangle or the iron triangle.
Triple constraint is the combination of the three most significant restrictions on any project- scope, schedule and cost. It is sometimes referred to as the project management triangle or the iron triangle.
_________________ process is used to ensure that changes to a product or system are introduced in a controlled and coordinated manner.
Change control process is used to ensure that changes to a product or system are introduced in a controlled and coordinated manner.
Poor change control can allow scope _____________________.
Poor change control can allow scope creep.
Integrated change control is part of the __________________ process group.
Integrated change control is part of the monitoring and controlling process group.
_______________ change management employs a structured approach to ensure that changes are implemented smoothly and successfully to achieve lasting benefits.
Organizational change management employs a structured approach to ensure that changes are implemented smoothly and successfully to achieve lasting benefits.
All notable changes made to a project are recorded in a ________________.
All notable changes made to a project are recorded in a Change Log.
A _________________ is a document required for any changes needed in the underlying structure and/or standards of a project.
A Change Request is a document required for any changes needed in the underlying structure and/or standards of a project.
_______________ identifies the potential consequences of a change, or estimates what needs to be modified to accomplish a change.
Change Impact Analysis (IA) identifies the potential consequences of a change, or estimates what needs to be modified to accomplish a change.
The project manager develops a ____________________ in case the change needs to be reversed.
The project manager develops a regression plan in case the change needs to be reversed.
_____________ is an occurrence that has a negative impact on the project.
Risk event is an occurrence that has a negative impact on the project.
The amount of time taken to fulfill a request is called ________________.
The amount of time taken to fulfill a request is called Turnaround time.
_______________ is a factor that creates cost fluctuation and variance that can be influenced and controlled using various cost management tools.
Cost Control is a factor that creates cost fluctuation and variance that can be influenced and controlled using various cost management tools.
A work breakdown structure (WBS), in project management and systems engineering, is a deliverable-oriented decomposition of a project into smaller components.[1]
"A work breakdown structure (WBS), in project management and systems engineering, is a deliverable-oriented decomposition of a project into smaller components. A work breakdown structure is a key project deliverable that organizes the team's work into manageable sections."[4]
"The Project Management Body of Knowledge (PMBOK 5) defines the work breakdown structure as “A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.”'[5]
"The work breakdown structure visually defines the scope into manageable chunks that a project team can understand, as each level of the work breakdown structure provides further definition and detail."[6]
"The project team creates the project work breakdown structure by identifying the major functional deliverables and subdividing those deliverables into smaller systems and sub-deliverables."[7]
"A WBS also provides the necessary framework for detailed cost estimating and control along with providing guidance for schedule development and control."[8]
"A WBS is neither a project plan, a schedule, nor a chronological listing. It specifies what will be done , not how or when."[9]
"The process of developing and completing a WBS breeds excitement and commitment."[11]
"When a project is falling behind, referring to the work breakdown structure will quickly identify the major deliverables impacted by a failing work package or late sub - deliverable."[12]
"A work breakdown structure allows you to "double check all the deliverables’ specifics with the stakeholders and make sure there is nothing missing or overlapping."[13]
"Project work breakdown structures can also be used to identify potential risks in a given project."[14]
"The development of the WBS normally occurs at the start of a project and precedes detailed project and task planning."[15]
The WBS is often created by one of the following approaches:[16]
Analogy Approach - The approach that is used to create a WBS by using a similar WBS (prepared for another project) as a starting point.
Top-down Approach - The approach that is used to create a WBS by starting with the largest deliverables of the project and breaking them down into subordinate packages.
Bottom-up Approach- The approach that is used to create a WBS by having team members identify as many specific tasks as possible and then grouping these tasks into larger project activities.
Mind Mapping - The technique used to develop a WBS through a diagram. It is used to represent concepts, ideas, tasks or other items linked to a central theme.[17]
"An important design principle for work breakdown structures is called the 100% rule."[18]
"The 100% rule states that the WBS includes 100% of the work defined by the project scope and captures all deliverables - internal, external, interim - in terms of the work to be completed, including project management."[19]
"Another rule commonly used when creating a WBS is the 8/80 rule. This rule says no single activity should be less than 8 hours, or greater than 80 hours."[20]
"A project budget can be allocated to the top levels of the work breakdown structure, and department budgets can be quickly calculated based on each project’s work breakdown structure."[21]
"By allocating time and cost estimates to specific sections of the work breakdown structure, a project schedule and budget can be quickly developed."[22]
"As the project executes, specific sections of the work breakdown structure can be tracked to identify project cost performance and identify issues and problem areas in the project organization."[23]
"The level of detail in a WBS makes it easier to hold people accountable for completing their tasks."[24]
"Decomposition is the act of breaking down deliverables in to successively smaller chunks of work to be completed in order to achieve a level of work that can be both realistically managed by the project manager and completed within a given time frame by one or more team members."[25]
"Work packages are the lowest level of the WBS and are pieces of work that are specifically assigned to one person or one team of people to be completed."[26]
"The WBS Dictionary describes each component of the WBS with milestones, deliverables, activities, scope,and sometimes dates, resources, costs, and quality."[27]
"The WBS Dictionary is a useful resource for project management, and should be consulted for relevant information on each component of the work breakdown structure (WBS). The WBS dictionary includes entries for each WBS component that briefly defines the scope or statement of the work, defines deliverables, contains a list of associated activities, and provides a list of recognized milestones to gage progress."[28]
The approach that is used to create a WBS by using a similar WBS (prepared for another project) as a starting point.[29]
bottom-up approach
The approach that is used to create a WBS by having team members identify as many specific tasks as possible and then grouping these tasks into larger project activities.[30]
decomposition
The act of breaking down deliverables into successively smaller chunks of work.[31]
deliverable
Outcome or product that is produced to complete a work package or project.[32]
mind mapping
The technique used to develop a WBS through a diagram. It is used to represent concepts, ideas, tasks or other items linked to a central theme.[33]
100% Rule
The design principle of a work breakdown structure which states that the total scope and all deliverables are included.[34]
8/80 Rule
States that no single element of a work breakdown structure should be less than 8 hours, or greater than 80 hours.[35]
rolling wave planning
The method of planning down to the level of detail currently known and going back to plan deeper once more information is acquired.[36]
top-down approach
The approach that is used to create a WBS by starting with the largest deliverables of the project and breaking them down into subordinate packages.[37]
WBS (work breakdown structure)
The key project deliverable that organizes the team's work into manageable sections.[38]
WBS dictionary
Contains description of each element in a work breakdown structure.[39]
work package
The lowest level of the work breakdown structure.[40]
The __________________ is a key project deliverable that organizes the team’s work into manageable sections.
The work breakdown structure is a key project deliverable that organizes the team’s work into manageable sections.
The lowest level of the work breakdown structure is called a _______________.
The lowest level of the work breakdown structure is called a work package.
The design principle of a work breakdown structure which states that the total scope and all deliverables be included is called the ____________.
The design principle of a work breakdown structure which states that the total scope and all deliverables be included is called the 100% rule.
The _____________ states that no single element of a work breakdown structure should be less than 8 hours, or greater than 80 hours.
The 8/80 rule states that no single element of a work breakdown structure should be less than 8 hours, or greater than 80 hours.
For a description of each element contained in a work breakdown structure, consult the ________________.
For a description of each element contained in a work breakdown structure, consult the WBS dictionary.
The ________________ can be referred to when a project falls behind schedule in order to identify which work packages will be impacted the most.
The Work Breakdown Structure can be referred to when a project falls behind schedule in order to identify which work packages will be impacted the most.
________________________ is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
Work Breakdown Structure is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
The ____________________ is a method used to create a WBS by starting with the largest deliverables of the project and breaking them down into subordinate packages.
The top-down approach is a method used to create a WBS by starting with the largest deliverables of the project and breaking them down into subordinate
packages
The ____________________is a method used to create a WBS by having team members identify as many specific tasks as possible and then grouping these tasks into larger project activities.
The bottom-up approach is a method used to create a WBS by having team members identify as many specific tasks as possible and then grouping these tasks into larger project activities.
The ____________________is a method used to create a WBS by using a similar WBS (prepared for another project) as a starting point.
The analogy approach is a method used to create a WBS by using a similar WBS (prepared for another project) as a starting point.
________________________ is a diagram showing the responsibilities of each member for each task in a project. Used as a tool for communicating the hierarchy of the team and the reporting lines within a project.
Organizational Breakdown Structure (OBS) is a diagram showing the responsibilities of each member for each task in a project. Used as a tool for communicating the hierarchy of the team and the reporting lines within a project.
The act of breaking down deliverables into successively smaller chunks of work is called _________________.
The act of breaking down deliverables into successively smaller chunks of work is called decomposition.
______________ is the outcome or product that is produced to complete a work package or project.
Deliverable is the outcome or product that is produced to complete a work package or project.
_________________ is a technique used to develop a WBS through a diagram. It is used to represent concepts, ideas, tasks or other items linked to a central theme.
Mind Mapping is a technique used to develop a WBS through a diagram. It is used to represent concepts, ideas, tasks or other items linked to a central theme.
________________ is the method of planning down to the level of detail currently known and going back to plan deeper once more information is acquired.
Rolling wave planning is the method of planning down to the level of detail currently known and going back to plan deeper once more information is acquired.
In project management, a schedule is a listing of a project's milestones, activities, and deliverables, usually with intended start and finish dates.[1]
In project management, a schedule is a listing of a project's milestones, activities, and deliverables, usually with intended start and finish dates. Those items are often estimated by other information included in the project schedule of resource allocation, budget, task duration, and linkages of dependencies and scheduled events. A schedule is commonly used in the project planning and project portfolio management parts of project management.[4]
Milestones are tools used in project management to mark specific points along a project timeline. These points may signal anchors such as a project start and end date, a need for external review or input and budget checks, among others. In many instances, milestones do not impact project duration. Instead, they focus on major progress points that must be reached to achieve success.[5]
A Gantt chart is a type of bar chart that illustrates a project schedule. This chart lists the tasks to be performed on the vertical axis, and time intervals on the horizontal axis. The width of the horizontal bars in the graph show the duration of each activity. Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements constitute the work breakdown structure of the project.[6]
Sequencing activities are usually used by scheduling dependencies. A dependency is a logical relationship with is a dependency between two activities or between an activity and a milestone. There are 4 standard types of dependencies; Finish to Start, Finish to Finish, Start to Start, Start to Finish. [7]
Graphical Evaluation and Review Technique, commonly known as GERT, is a network analysis technique used in project management that allows probabilistic treatment both network logic and estimation of activity duration.[8]
Critical Path Method (CPM) is an algorithm for scheduling a set of project activities. The model should include a list of all activities required to complete the project, the time each activity will take, the dependencies between activities, and logical end points, such as milestones of deliverable items. CPM calculates the longest path of planned activities. [9]
Arrow diagramming method (ADM) is a network diagramming technique in which activities are represented by arrows. Precedence relationships between activities are represented by circles connected by one or more arrows. The length of the arrow represents the duration of the relevant activity. ADM only shows finish-to-start relationships, meaning that each activity is completed before the successor activity starts.[10]
Precedence diagram method (PDM) is a tool for scheduling activities in a project plan. It is a method of constructing a project schedule network diagram that uses boxes, referred to as nodes, to represent activities and connects them with arrows that show the dependencies.[11]
Critical chain method (CCM) is a technique based on network changes project schedule taking into account scarce resources.[12]
Program Evaluation and Review Technique (PERT) is a network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration estimates. PERT uses probabilistic time estimates – duration estimates based on using optimistic, most likely, and pessimistic estimates of activity durations – instead of one specific or discrete duration estimate, as CPM does.[13]
To use PERT, you calculate a weighted average for the duration estimate of each project activity using the following formula:[14]
PERT weight average = (O + 4M + P)/6
(O) - Optimistic time, (M) - most likely time, (P) - pessimistic time
As part of schedule development, project managers may establish quality gates, which provide acceptance criteria to ensure that project tasks are completing deliverables within the quality control guidelines established during project planning.[15]
A governance gate is similar to a quality gate in that it marks acceptance criteria for the project tasks, but a governance gate is more about client sign-off, management approval, or legislative approval. A governance gate should be set up whenever the project manager must obtain formal approval prior to proceeding with the project activities.[16]
A network diagramming technique in which activities are represented by arrows. ADM is also known as the activity-on-arrow (AOA) method.[17]
CCM (Critical Chain Method)
A technique based on network changes project schedule taking into account scarce resources. [18]
CPM (Critical Path Method)
A method commonly used with all forms of projects, including construction, aerospace and defense, software development, research projects, product development, engineering, and plant maintenance, among others. Any project with interdependent activities can apply this method of mathematical analysis. [19]
Gantt Chart
Illustrates the start and finish dates of the terminal elements and summary elements of a project.[20]
GERT (Graphical Evaluation and Review Technique)
A network analysis technique used in project management that allows probabilistic treatment both network logic and estimation of activity duration. [21]
Governance Gate
This should be set up whenever the project manager must obtain formal approval prior to proceeding with the project activities.[22]
Milestone
A tool used in project management to mark specific points along a project timeline. These points may signal anchors such as a project start and end date, a need for external review or input and budget checks, among others. In many instances, milestones do not impact project duration. Instead, they focus on major progress points that must be reached to achieve success. [23]
PDM (Precedence Diagram Method)
The precedence diagram method (PDM) is a tool for scheduling activities in a project plan. It is a method of constructing a project schedule network diagram that uses boxes, referred to as nodes, to represent activities and connects them with arrows that show the dependencies. It is also called the activity-on-node (AON) method. [24]
PERT (Program Evaluation and Review Technique)
A network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration estimates.[25]
Quality Gates
This provides acceptance criteria to ensure that project tasks are completing deliverables within the quality control guidelines established during project planning.[26]
______________ are tools used in project management to mark specific points along a project timeline.
Milestones are tools used in project management to mark specific points along a project timeline.
A ________________ illustrates the start and finish dates of the terminal elements and summary elements of a project.
A Gantt chart illustrates the start and finish dates of the terminal elements and summary elements of a project.
The ___________________ is a project network diagramming technique used to predict total project duration.
The Critical Path Method is a project network diagramming technique used to predict total project duration.
___________________ is a project network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration.
Project Evaluation and Review Technique (PERT) is a project network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration.
_______________ is a network analysis technique that allows probabilistic treatment both network logic and estimation of activity duration.
Graphical Evaluation and Review Technique (GERT) is a network analysis technique that allows probabilistic treatment both network logic and estimation of activity duration.
___________________ is a network diagramming technique in which activities are represented by arrows. Also known as the activity-on-arrow.
Arrow Diagramming Method is a network diagramming technique in which activities are represented by arrows. Also known as the activity-on-arrow.
____________________ is a network diagramming technique in which boxes represent activities.
Precedence Diagramming Method is a network diagramming technique in which boxes represent activities.
_______________________ is a technique based on network changes project schedule taking into account scarce resources.
Critical Chain Method is a technique based on network changes project schedule taking into account scarce resources.
During project planning, a project _____ is developed by allocating a time component to each task of a work breakdown structure.
During project planning, a project schedule is developed by allocating a time component to each task of a work breakdown structure.
______________ provides acceptance criteria to ensure that project tasks are completing deliverables within the quality control guidelines established during project planning.
Quality Gates provides acceptance criteria to ensure that project tasks are completing deliverables within the quality control guidelines established during project planning.
__________________should be set up whenever the project manager must obtain formal approval prior to proceeding with the project activities.
Governance Gate should be set up whenever the project manager must obtain formal approval prior to proceeding with the project activities.
The four standard types of dependencies are _______________, ________________, ______________, and ________________.
The four standard types of dependencies are Finish to Start, Finish to Finish, Start to Start, and Start to Finish.
____________________ calculates the longest path of planned activities.
Critical Path Method calculates the longest path of planned activities.
Resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time.[1]
Watch this tutorial and use Microsoft Project or another project management software to practice allocating resources to tasks.
Resources can often become overallocated in Microsoft Project. Watch this tutorial video to learn how to manage resource over-allocations in your project.
Review this web page to learn how limited resource allocation works in projects where there are insufficient resources. In your project management software, create a scenario in which resources are limited, and use the critical path method to assign resources to tasks.
Watch this tutorial to have an understanding about resource leveling and allocate resources to your project to apply resource leveling techniques.
Resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time.[4]
In project management, Resource Breakdown Structure (RBS) is a hierarchical list of resources related by function and resource type that is used to facilitate planning and controlling of project work. The Resource Breakdown Structure includes, at a minimum, the personnel resources needed for successful completion of a project, and preferably contains all resources on which project funds will be spent, including personnel, tools, machinery, materials, equipment and fees and licenses.[5]
In project management terminology, resources are required to carry out the project tasks. They can be people, equipment, facilities, funding, or anything else capable of definition (usually other than labor) required for the completion of a project activity. [6]
When using shared resources, the project manager will need to negotiate with department managers or other managers for resource availability.[7]
When using dedicated resources, the project manager has full access to the resource for the project.[8]
Interproject dependencies occur when one project must wait for another project to complete results that are needed by the first project.[9]
Outsourcing is an agreement in which one company contracts its own internal activity to different company.[10]
Human resources are the people who make up the workforce of an organization, business sector, or economy.[11]
A project team is a team whose members usually belong to different groups, functions and are assigned to activities for the same project. A team can be divided into sub-teams according to need. Usually project teams are only used for a defined period of time. They are disbanded after the project is deemed complete.[12]
Team building is a never-ending process. Even after a team matures, team building efforts should be regularly renewed or continued. The project manager should work with team members to ensure that the team moves through the following team building stages in the Tuckman Ladder.[13]
Tuckman's stages of group development are as follows:[14]
Forming – The team meets and learns about the opportunities and challenges, and then agrees on goals and begins to tackle the tasks.
Storming – the second stage of team development where the group starts to sort itself out and gain each other’s trust. This stage often starts when they voice their opinions and as a result of this a conflict may arise between team members as power and status are assigned.
Norming – This happens when the team is aware of competition and they share a common goal. In this stage, all team members take the responsibility and have the ambition to work for the success of the team's goals.
Performing – a team-building stage where the team is motivated and knowledgeable. The team members are now competent, autonomous and able to handle the decision-making process without supervision.
Adjourning – a team-building stage that involves completing the task and breaking up the team.
Compromising is also described as a "give and take" style. Conflicting parties bargain to reach a mutually acceptable solution. Both parties give up something in order to reach a decision and leave with some degree of satisfaction. [15]
It is important for a project manager to understand the dynamics of conflict before being able to resolve it. The internal characteristics of conflict include perception of the goal, perception of the other, view of the other's actions, definition of problem, communication, and internal group dynamics. [16]
Smoothing is also referred to as accommodating or obliging style. In this approach, the areas of agreement are emphasized and the areas of disagreement are downplayed. Conflicts are not always resolved in the smoothing mode. A party may sacrifice it's own concerns or goals in order to satisfy the concerns or goals of the other party. [17]
Forcing is also known as competing, controlling, or dominating style. Forcing occurs when one party goes all out to win it's position while ignoring the needs and concerns of the other party. As the intesity of a conflict increases, the tendency for a forced conflict is more likely. This results in a win-lose situation where one party wins at the expense of the other party. [18]
Avoiding is also described as withdrawal style. This approach is viewed as postponing an issue for later or withdrawing from the situation altogether. It is regarded as a temporary solution because the problem and conflict continue to reoccur over and over again. [19]
The goal is to achieve 100% utilization but that is very unlikely, when weighted by important metrics and subject to constraints, for example: meeting a minimum service level, but otherwise minimizing cost. [20]
Resource management is a key element to activity resource estimating and project human resource management. Both are essential components of a comprehensive project management plan to execute and monitor a project successfully.[21]
Resource leveling is defined by A Guide to the Project Management Body of Knowledge (PMBOK Guide) as "A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply."[22]
Fast tracking means that you look at activities that are normally done in sequence and assign them instead partially in parallel.[23]
"Crashing" the schedule means to throw additional resources to the critical path without necessarily getting the highest level of efficiency.[24]
Second in charge of a project under the project manager [32]
fast tracking
The Technique that is often implemented in crisis and/or crunch times so to speak as it involves in taking a specific schedule activity and/or work breakdown event that has been previously scheduled and/or is underway and expediting it in some way or another. [33]
forcing
The process of one party going all out to win it's position while ignoring the needs and concerns of the other party. [34]
forming
A team-building stage where the team meets and learns about the opportunities and challenges, and then agrees on goals and begins to tackle the tasks.[35]
human resources (HR) frame
The integration of human needs and organizational requirements. [36]
intrinsic motivation
The motivation to engage in a behavior arises from within the individual because it is intrinsically rewarding [37]
negotiating
A conflict resolution that brings two viewpoints together to discuss issues and reach a solution.[38]
norming
This happens when the team is aware of competition and they share a common goal. In this stage, all team members take the responsibility and have the ambition to work for the success of the team's goals.[39]
offshoring
The relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. [40]
organizational breakdown structure (OBS)
Hierarchical model describing the established organizational framework for project planning, resource management, time and expense tracking, cost allocation, revenue/profit reporting, and work management.[41]
outsourcing
The process of contracting out of a business process and operational, and/or non-core functions to another party. [42]
overallocation
Situation when assignments of more tasks than your resources can handle or reasonably complete within a standard eight hour workweek are assigned [43]
performing
a team-building stage where the team is motivated and knowledgeable. The team members are now competent, autonomous and able to handle the decision-making process without supervision.[44]
resource allocation
The scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time[45]
Resource Breakdown Structure (RBS)
A hierarchical list of resources related by function and resource type that is used to facilitate planning and controlling of project work.[46]
resource histogram
Tool that is often used by the project management team and or as a means of providing a visual representation to the team and to all of those interested parties [47]
resource leveling
A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply[48]
resource loading
The process of allocating resources to planned project activities[49]
shared resource
A resource used jointly between multiple projects.[50]
smoothing mode
The process of accommodating or obliging style. In this approach, the areas of agreement are emphasized and the areas of disagreement are downplayed. [51]
storming
the second stage of team development where the group starts to sort itself out and gain each other’s trust. This stage often starts when they voice their opinions and as a result of this a conflict may arise between team members as power and status are assigned.[52]
team development
Enhancement of the effectiveness of work groups, by improving goal- and role-clarification and interpersonal processes. [53]
________________________is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time.
Resource allocation or resource management.
_____________________ are the people who make up the workforce of an organization, business sector, or economy.
Human Resources
Compromising is also described as a "____________"
give and take
_______________ occurs when one party goes all out to win its position while ignoring the needs and concerns of the other party.
Forcing
_______________ is described as a withdrawal style approach because it postpones an issue for later or withdrawing from the situation altogether.
Avoiding
_______________ means that you look at activities that are normally done in sequence and assign them instead partially in parallel.
Fast tracking
The term "___________" means to throw additional resources to the critical path without necessarily getting the highest level of efficiency
crashing
A _______________ is a team whose members usually belong to different groups, functions and are assigned to activities for the same project.
Project team
_______________ sometimes involves transferring employees and assets from one firm to another.
Outsourcing
____________________ is a key element to activity resource estimating and project human resource management.
Resource management
_____________________ is an approach wherein the areas of agreement are emphasized, and the areas of disagreement are downplayed.
Smoothing
When using ___________ resources, the project manager will need to negotiate with department managers or other managers for resource availability.
shared
When using __________ resources, the project manager has full access to the resource for the project.
dedicated
__________________ is a document that breaks down allocated resources hierarchically by category and type.
Resource Breakdown Structure
__________________ brings two viewpoints together to discuss issues and reach a solution.
Negotiating
_________________ occur when one project must wait for another project to complete results that are needed by the first project.
Quality Management ensures that an organization, product or service is consistent. It has four main components: quality planning, quality assurance, quality control and quality improvement. Quality management is focused not only on product and service quality, but also on the means to achieve it. Quality management, therefore, uses quality assurance and control of processes as well as products to achieve more consistent quality.[1]
Read Tutorialspoint: Project Quality Plan. Develop a quality plan which includes quality metrics, control limits, frequency of measurement, and a quality baseline.
Quality metrics help you translate your clients' needs into measurable goals. It's critical that you define a set of quality metrics during your project’s planning phase, so that you and your team know exactly what you need to get done.[4]
Control limits are used to detect signals in process data that indicate that a process is not in control and, therefore, not operating predictably.[5]
The decision about the measurement frequency is a trade-off between the cost of taking the measurement and the value of the information.[6]
Quality assurance is the planned or systematic actions necessary to provide enough confidence that a product or service will satisfy the given requirements.[7]
Quality control is the ongoing effort to maintain the integrity of a process to maintain the reliability of achieving an outcome.[8]
Quality baseline: records quality objective of the project.[9]
Monitoring and Controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project.[10]
Project controlling should be established as an independent function in project management. It implements verification and controlling function during the processing of a project in order to reinforce the defined performance and formal goals.[11]
The key benefit [of monitoring and controlling] is that project performance is observed and measured regularly to identify variances from the project management plan.[12]
Monitoring and controlling influences the factors that could circumvent integrated change control so only approved changes are implemented.[13]
The purpose of the Pareto chart is to highlight the most important among a (typically large) set of factors. In quality control, it often represents the most common sources of defects, the highest occurring type of defect, or the most frequent reasons for customer complaints, and so on.[14]
To construct a histogram, the first step is to "bin" the range of values—that is, divide the entire range of values into a series of intervals—and then count how many values fall into each interval. The bins are usually specified as consecutive, non-overlapping intervals of a variable. The bins (intervals) must be adjacent, and are usually equal size.[15]
Common uses of the Ishikawa diagram are product design and quality defect prevention to identify potential factors causing an overall effect.[16]
A strategy performance management tool – a semi-standard structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.[17]
baseline
The original approved plan for schedules, costs, etc. and is used to monitor and control ongoing project performance.[18]
brainstorming
A group creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.[19]
change request
A document containing a call for an adjustment of a system; it is of great importance in the change management process.[20]
compliance
Conforming to a rule, such as a specification, policy, standard or law.[21]
Gantt chart
A type of bar chart that illustrates a project schedule. Modern Gantt charts also show the dependency relationships between activities and current schedule status[22]
histogram
A graphical representation of the distribution of numerical data. It is an estimate of the probability distribution of a continuous variable (quantitative variable).[23]
Ishikawa diagrams
Also called fishbone diagrams, herringbone diagrams, cause-and-effect diagrams, or Fishikawa, are causal diagrams that show the causes of a specific event.[24]
modern quality management
Pays attention to the human aspect of the processes, the team approach to quality, and the concept of total quality management. The process is more oriented toward permanent small incremental improvements and multiple inspection points in the processes.[25]
Pareto chart
A type of chart that contains both bars and a line graph, where individual values are represented in descending order by bars, and the cumulative total is represented by the line.[26]
quality assurance
A way of preventing mistakes or defects in manufactured products and avoiding problems when delivering solutions or services to customers.[27]
quality audit
The process of systematic examination of a quality system carried out by an internal or external quality auditor or an audit team.[28]
quality baseline
Uses to perform analysis to find current performance against to the expected level for a specific activity in established time-phase.[29]
quality control
The process by which entities review the quality of all factors involved in production.[30]
quality improvement
A formal approach to the analysis of performance and systematic efforts to improve it.[31]
quality management plan
A plan that documents the quality activities and outlines the processes, procedures, responsibilities and resources required for maintaining project quality.[32]
quality planning
Systematic process that translates quality policy into measurable objectives and requirements, and lays down a sequence of steps for realizing them within a specified timeframe.[33]
Also known as responsibility assignment matrix(RAM), describes the participation by various roles in completing tasks or deliverables for a project or business process. It is especially useful in clarifying roles and responsibilities in cross-functional/departmental projects and processes. [34]
run chart
Also known as a run-sequence plot is a graph that displays observed data in a time sequence. Often, the data displayed represent some aspect of the output or performance of a manufacturing or other business process. It is therefore a form of line chart.[35]
Scatter chart
A type of plot or mathematical diagram using Cartesian coordinates to display values for typically two variables for a set of data.[36]
SWOT analysis
A strategic planning technique used to help a person or organization identify the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.[37]
work performance
Assesses whether a person performs a job well. Performance is an important criterion for organizational outcomes and success.[38]
It's critical that you define a set of quality metrics during your project’s _______ phase, so that you and your team know exactly what you need to get done.
It's critical that you define a set of quality metrics during your project’s planning phase, so that you and your team know exactly what you need to get done.
Control ______ are used to detect signals in process data that indicate that a process is not in control and, therefore, not operating predictably.
Control limits are used to detect signals in process data that indicate that a process is not in control and, therefore, not operating predictably.
The decision about the measurement _________ is a trade-off between the cost of taking the measurement and the value of the information.
The decision about the measurement frequency is a trade-off between the cost of taking the measurement and the value of the information.
Quality assurance is the _______ or __________ actions necessary to provide enough confidence that a product or service will satisfy the given requirements.
Quality assurance is the planned or systematic actions necessary to provide enough confidence that a product or service will satisfy the given requirements.
Quality ________is the ongoing effort to maintain the integrity of a process to maintain the reliability of achieving an outcome.
Quality control is the ongoing effort to maintain the integrity of a process to maintain the reliability of achieving an outcome.
Quality baseline: records ______ objective of the project.
Quality baseline: records quality objective of the project.
Monitoring and controlling consists of those processes performed to _______ project execution so that potential problems can be __________ in a timely manner and __________ action can be taken, when necessary, to control the execution of the project.
Monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project.
Project controlling should be established as an ___________ function in project management.
Project controlling should be established as an independent function in project management.
The key benefit [of monitoring and controlling] is that project performance is observed and measured regularly to identify ________ from the project management plan.
The key benefit [of monitoring and controlling] is that project performance is observed and measured regularly to identify variances from the project management plan.
Monitoring and controlling influences the factors that could circumvent integrated change control so only ________ changes are implemented.
Monitoring and controlling influences the factors that could circumvent integrated change control so only approved changes are implemented.
The purpose of the _____ chart is to highlight the most important among a (typically large) set of factors.
The purpose of the Pareto chart is to highlight the most important among a (typically large) set of factors.
To construct a _______, the first step is to "bin" the range of values—that is, divide the entire range of values into a series of intervals—and then count how many values fall into each interval.
To construct a histogram, the first step is to "bin" the range of values—that is, divide the entire range of values into a series of intervals—and then count how many values fall into each interval.
Common uses of the ______ diagram are product design and quality defect prevention to identify potential factors causing an overall effect.
Common uses of the Ishikawa diagram are product design and quality defect prevention to identify potential factors causing an overall effect.
A _______ helps to show if there is a relationship between two variables.
A scatter chart helps to show if there is a relationship between two variables.
A _______ is a common tool for displaying project schedule information.
A gantt chart is a common tool for displaying project schedule information.
_______ can also be used during risk identification by having project teams focus on the broad perspectives of potential risks for particular projects.
SWOT analysis can also be used during risk identification by having project teams focus on the broad perspectives of potential risks for particular projects.
Cost management is a method that uses technology to measure cost and productivity through the full life cycle of enterprise level projects. Cost management encompasses several specific functions of project management including estimating, job controls, field data collection, scheduling, accounting and design.[1]
Cooperate with the financial department to estimate costs required for purchasing all necessary good/services and undertaking necessary activities to deliver the project.
Use project cost management software to develop spreadsheets and make calculations.
Estimate budget:
Use project cost management software to work in collaboration with the financial department to determine items of the budget and sources of funding and then to allocate the budget.
Estimate spending control:
Ensure that the budget allocation is optimized and costs are fully covered with the planned and allocated budget.
Calculate the following using the information provided: Rate of Performance is 92%, Planned Value is $200,000, and Actual Cost is $175,000:
Earned Value
Cost Variance
Cost Performance Index
Estimate At Completion
Estimate To Completion
Schedule Variance
Schedule Performance Index
Variance At Completion
Review the different types of estimates, and decide which is best for this project.
Project cost management is traditionally a week area of IT projects. IT project managers must acknowledge the importance of cost management and take responsibility for understanding basic cost concepts, cost estimating, budgeting, and cost control.[4]
Project managers must understand several basic principles of cost management to be effective in managing project cost. Important concepts include profits and profit margins, life cycle costing, cash flow analysis, sunk cost, and learning curve theory.[5]
Planning cost management involves determining the policies, procedures, and documentation that will be used for planning, executing, and controlling project cost. The main output of this process is a cost management plan.[6]
Estimating costs is a very important part of project cost management. There are several types of cost estimates, including rough order of magnitude (ROM), budgetary, and definitive. Each type of estimate is done during different stages of the project life cycle, and each has a different level of accuracy. Several tool and techniques can help you develop cost estimates, including analogous estimating, bottom-up estimating, parametric estimating, and computerized tools.[7]
Determining the budget involves allocating costs to individual work items over time. It is important to understand how particular organizations prepare budgets so estimates are made accordingly.[8]
Controlling cost includes monitoring cost performance, reviewing changes, and notifying project stakeholders of changes related to cost. Many basic accounting and finance principles relate to cost project management. Earned value management is an important method used for measuring project performance. Earned value management integrates scope, cost, and schedule information. Project portfolio management allows organization to collect and control an entire suite of projects or investments as one set of interrelated activities.[9]
Several software products can assists with project cost management. Project 2010 has many cost management futures, including earned value management. Enterprise project management software and portfolio management software can help mangers evaluate data on multiple project.[10]
In calculating actual or landed cost, all expenses incurred in acquiring an item are added to the cost of items in order to establish what the goods actually cost.[11]
analogous estimates
Using the cost of similar project to determine the cost of the current project.[12] Also called Top-down Estimate.
baseline
A single work product, or set of work products that can be used as a logical basis for comparison.[13]
bottom-up estimate
Using the lowest level of work package detail and summarizing the cost associated with it. Then rolling it up to a higher level aimed and calculating the entire cost of the project.[14]
budget at completion (BAC)
The total planned value (PV) at the end of the project.[15]
budgetary estimate
The approximation of the cost of a program, project, or operation.[16]
burn rate
The burn rate is the rate at which a company is losing money.[17]
cash flow analysis
To determine a project's rate of return or value.[18]
contingency reserves
Costs that will probably occur based on past experience, but with some uncertainty regarding the amount.[19]
cost baseline
Aggregating the estimated costs of resources, work packages and activities.[20]
cost of quality (COQ)
A means to quantify the total cost of quality-related efforts and deficiencies.[21]
cost performance index (CPI)
The ratio of the earned value over the cost of a project. Calculated as CPI = EV / AC.[22]
cost variance (CV)
The difference between the earned value and the cost of a project. Calculated as CV = EV - AC.[23]
definitive estimate
Prepared from fully designed plans and specifications.[24]
direct costs
Costs that are directly attributable to the object.[25]
earned value (EV)
The budgeted cost of work that has actually been performed in carrying out a scheduled task during a specific time period. Also called budgeted cost of work performed. Calculated as EV = PV * RP.[26]
earned value management
A project management technique for measuring project performance and progress in an objective manner.[27]
estimate at completion (EAC)
EAC is the manager's projection of total cost of the project at completion. Calculated as AC + ((BAC - EV) / CPI).[28]
estimate to complete (ETC)
ETC is the estimate to complete the remaining work of the project. Calculated as ETC = EAC - AC.[29]
expenditure reporting
The outflow of money to another person or group to pay for an item or service, or for a category of costs.[30]
expenditure tracking system
Also known as PETS, is a system that presents financial information that enables stakeholders to track the source of money and where it is being dispensed.[31]
indirect costs
Costs that are not directly accountable to a cost object (such as a particular project, facility, function or product).[32]
intangible costs or benefits
A benefit that does not have a physical nature.[33]
known unknowns
Risks the estimator is aware of, and based on past experience, can even estimate their probable costs.[34]
learning curve theory
For each doubling of the total quantity of items produced, costs decrease by a fixed proportion.[35]
life cycle costing
Total cost of ownership over the life of an asset.[36]
management reserves
Also known as reserves.
overrun
Unexpected costs incurred in excess of budgeted amounts due to an underestimation of the actual cost during budgeting.[37]
parametric estimating
Measuring the statistical relationship between historical data and other variable or flow.[38]
A (an) _____ uses the actual cost of a previous, similar project as the basis for estimating the cost of the current project.
A analogous estimate uses the actual cost of a previous, similar project as the basis for estimating the cost of the current project.
_____ includes the processes required to ensure that a project team completes a project within an approved budget.
Project cost includes the processes required to ensure that a project team completes a project within an approved budget.
The _____ can be used to estimate the projected cost of completing the project.
The cost performance index (CPI) can be used to estimate the projected cost of completing the project.
A cost estimation tool which involves estimating individual work items or activities and summing them to get a project total is known as a(n) _____ estimate.
A cost estimation tool which involves estimating individual work items or activities and summing them to get a project total is known as a bottom-up estimate.
_____ are most reliable when previous projects are similar in fact with current projects.
Analogous estimates are most reliable when previous projects are similar in fact with current projects.
One of the main outputs of the _____ process is a cost baseline.
One of the main outputs of the ost budgeting process is a cost baseline.
The _____ are time-intensive and expensive to develop.
The bottom-up estimates are time-intensive and expensive to develop.
Good Earth, a company manufacturing packaged food products, sets up its stores in Baltonia. However, a year later, the company closes the store down due to high operating costs. In such a scenario, the money spent in paying for the rent of the store in Baltonia would be an example of _____ costs.
Good Earth, a company manufacturing packaged food products, sets up its stores in Baltonia. However, a year later, the company closes the store down due to high operating costs. In such a scenario, the money spent in paying for the rent of the store in Baltonia would be an example of sunk costs.
Profits may be defined as _____ minus expenditures.
Profits may be defined as revenues minus expenditures.
Accountants usually define _____ as a resource sacrificed or foregone to achieve a specific objective or something given up in exchange.
Accountants usually define cost as a resource sacrificed or foregone to achieve a specific objective or something given up in exchange.
The main goal of project cost management is to complete a project within an approved _____.
The main goal of project cost management is to complete a project within an approved budget.
A cost _____ is not an output of the project cost management process.
A cost baseline is not an output of the project cost management process.
If a company loses $5 for every $100 in revenue for a certain product, the profit margin for that product is -____%.
If a company loses $5 for every $100 in revenue for a certain product, the profit margin for that product is -5%.
_____ reserves allow for future situations that are unpredictable.
Management reserves allow for future situations that are unpredictable.
To prepare a cost estimate for a building based on its location, purpose, number of square feet, and other characteristics, you would use a _____ technique.
To prepare a cost estimate for a building based on its location, purpose, number of square feet, and other characteristics, you would use a parametric technique.
_____ involves allocating the project cost estimate to individual material resources or work items over time.
Project cost budgeting involves allocating the project cost estimate to individual material resources or work items over time.
_____ is a project performance measurement technique that integrates scope, time, and cost data.
Earned value management is a project performance measurement technique that integrates scope, time, and cost data.
_____ _____ analysis is a method for determining the estimated annual costs and benefits for a project.
Cash flow analysis is a method for determining the estimated annual costs and benefits for a project.
The percentage of work actually completed multiplied by the planned cost; formerly called the budgeted cost of work performed is known as _____ _____.
The percentage of work actually completed multiplied by the planned cost; formerly called the budgeted cost of work performed is known as earned value (EV).
Avoid _____ when deciding what project to invest in or continue.
Avoid sunk costs when deciding what project to invest in or continue.
_____ is the rate at which a company is losing money.
Burning rate is the rate at which a company is losing money.
_____ is an outflow of money to another person or group to pay for an item or service, or for a category of costs.
Expenditure reporting is an outflow of money to another person or group to pay for an item or service, or for a category of costs.
_____ is a system that presents financial information that enables stakeholders to track the source of money and where it is being dispensed.
Expenditure tracking system is a system that presents financial information that enables stakeholders to track the source of money and where it is being dispensed.
Risk
Project risk management is the art and science of identifying, analyzing, and responding to risk throughout the life of a project and in the best interests of meeting project objectives. A frequently overlooked aspect of project management, risk management can often result in significant improvements in the ultimate success of projects. Risk management can have a positive impact on selecting projects, determining their scope, and developing realistic schedules and cost estimates. It helps project stakeholders understand the nature of the project, involves team members in defining strengths and weaknesses, and helps to integrate the other project management knowledge areas. [1]
Create a risk breakdown structure for identified risks in your current project.
Establish a Risk Register using the identified risks from your current project.
Draw a register using the following components: risk name, risk description, cause of risk, impact, probability, response to risk, risk owner, and risk status.
Draw a decision tree diagram and calculate the EMV to determine which vendor to choose using the following scenario:
You are about to start working on a major project for your organization. The company wants you to obtain two bids from vendors they have worked with in the past to do part of the work on the project. Vendor A and Vendor B both bid $10,000 to do the work. Vendor A has a 50% probability of coming in on time and on budget, a 30% chance of going $20,000 over budget and a 20% chance of being $10,000 under budget. On the other hand, Vendor B has a 30% chance of of delivering on time with no additional costs, a 40% of going $15,000 over budget and a 30% of being $10,000 under budget.
Risk, is an event that will impact something or someone in a positive or negative way. Two factors that affect risk include the likelihood of the event occurring and the consequences of it occurring. Positive risks result in opportunities, whereas negative risks result in threats to the project.[4]
Risk assessment involves answering six questions:[5]
What is the purpose of the project?
What possible benefits or hindrances could alter the project's outcome?
Which identified risks are most important?
Which identified risks will have the greatest impact?
What should the response be to these identified risks?
What changes have occurred due to responding to these risks?
There are different responses to risks depending on the nature of a risk. Responses to positive risks include exploitation, enhancement, sharing and acceptance. On the other hand, responses to negative risks include avoidance, mitigation, transference and acceptance.[6][7]
Exploitation ensures that the opportunity associated with the risk definitely occurs.
Enhancement increases the impact and/or the probability of the opportunity that results from the risk.
Sharing allocates the ownership of the opportunity that results to a third party to ensure the benefits from the risk occur.
Acceptance of a positive risk means being willing to take advantage of the opportunity that may arise as a result of the risk.
Avoidance tries to eliminate the risk or its impact entirely from the project.
Mitigation reduces the impact and/or the probability of the risk from occurring.
Transference shifts the impact of the risk and its response to a third party.
Acceptance of negative risks acknowledges that risks may occur, but takes no action until the risk surfaces.
Risk management is a process therefore to identify, analyze, respond, monitor and control risks that may arise when working on a project.[8]
In order to avoid risk or take advantage of risk, first we have to identify it and classify it. The goal of Risk Management is to take adequate action when classified events may harm, delay, or change the course of a developing project.[9]
The Risk Management Plan is a continuous process that occurs throughout the duration of the project because only identified risks can be properly managed. Its aim is to increase the impact of positive risks while lessening the impact and probability of negative risks.[10]
The assessment part is nothing else, but risk appraisal using qualitative and quantitative approaches, the assessment is done after identifying a risk.
Qualitative analysis looks at the qualities (impact and probability) related to risks by using a grading scale (high, medium, or low) or a numeric scale. Using a numeric scale allows for the calculation of a risk score. This type of analysis is subjective.
Quantitative analysis quantifies the impact of risk in relation to costs and schedule. This analysis is used to justify increasing the budget or using contingency reserves.
In order to quantify the impact of the risk, a few different techniques or specialized software can be used. These techniques include decision tree analysis, Expected Monetary Value (EMV) and Monte Carlo method.[11]
One can also estimate risk by doing the following things: creating a Risk Breakdown Structure, using a Risk Matrix, and devising a Risk Register.
Risk Breakdown Structure is a tool that is used to identify risks. It is a comprehensive list of risk events that are likely to occur and it is organized hierarchy. It uses a drill down technique to identify subcategories of risks.[12]
Risk matrix is a tool that is used to prioritize the risks associated with a current project. Probability is plotted on the x-axis and impact is plotted on the y-axis. A score is generated when a numeric scale is used by multiplying impact and probability. The team determines what score is an acceptable and unacceptable level of risk.[13]
Risk register is a log that catalogs the identified risks to the project and documents how the team plans to respond. The components that make up a risk register include the following: risk number, risk name, description, cause of risk, risk owner, risk response, probability of risk, impact of risk, and risk status. These tools allow one to assess how likely a risk will occur, the impact of the risk, and how to address these risks so that the project has a favorable outcome.[14]
A group creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.[15]
contingency plans
A plan devised for an outcome other than in the usual (expected) plan. It is often used for risk management when an exceptional risk that, though unlikely, would have catastrophic consequences. During times of crisis, contingency plans are often developed to explore and prepare for any event.[16]
decision tree
A decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.[17]
Delphi technique
A structured communication technique or method, originally developed as a systematic, interactive forecasting method which relies on a panel of experts. Delphi is based on the principle that forecasts (or decisions) from a structured group of individuals which are more accurate than those from unstructured groups.[18]
flowcharts
A type of diagram that represents an algorithm, workflow or process, showing the steps as boxes of various kinds, and their order by connecting them with arrows. This diagram representation illustrates a solution model to a given problem.[19]
influence diagram
A compact graphical and mathematical representation of a decision situation. ID is directly applicable in team decision analysis, since it allows incomplete sharing of information among team members to be modeled and solved explicitly.[20]
interviewing
A conversation between two or more people where questions are asked by the interviewer to elicit facts or statements from the interviewee. Interviews are a standard part of qualitative research.[21]
Monte Carlo analysis
A broad class of computational algorithms that rely on repeated random sampling to obtain numerical results.[22]
probability/impact matrix
A matrix that is used during Risk Assessment to define the various levels of risk as the product of the harm probability categories and harm severity categories. This is a simple mechanism to increase visibility of risks and assist management in decision making.[23]
residual risks
The risk or danger of an action or an event, a method or a (technical) process that, although being abreast with science, still conceives these dangers, even if all theoretically possible safety measures would be applied (scientifically conceivable measures).[24]
risk
The intentional interaction with uncertainty. Uncertainty is a potential, unpredictable, unmeasurable and uncontrollable outcome, risk is a consequence of action taken in spite of uncertainty.[25]
risk activities
The identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.[26]
risk appetite
The level of risk that an organization is prepared to accept, before action is deemed necessary to reduce it. It represents a balance between the potential benefits of innovation and the threats that change inevitably brings.[27]
risk averse
The behavior of humans (especially consumers and investors), when exposed to uncertainty, to attempt to reduce that uncertainty. It is the reluctance of a person to accept a bargain with an uncertain payoff rather than another bargain with a more certain, but possibly lower, expected payoff.[28]
risk breakdown structure
A depiction of the identified project risks arranged in a hierarchy by category.[29]
risk factors
A variable that is quantitatively associated with a disease or other outcome, but direct alteration of the risk marker does not necessarily alter the risk of the outcome. [30]
risk management plan
A document that a project manager prepares to foresee risks, estimate impacts, and define responses to issues. It also contains a risk assessment matrix.[31]
risk neutral
Preferences are neither risk averse nor risk seeking. A risk neutral party's decisions are not affected by the degree of uncertainty in a set of outcomes, so a risk neutral party is indifferent between choices with equal expected payoffs even if one choice is riskier.[32]
risk register
A risk management tool commonly used in risk management and regulatory compliance. It acts as a central repository for all risks identified by the organization and, for each risk, includes information such as source, nature, treatment option, existing counter-measures, recommended counter-measures and so on.[33]
risk seeking
A risk-seeker or risk-lover is a person who has a preference for risk. [34]
risk strategies
A document that a project manager prepares to foresee risks, estimate impacts, and define responses to issues.[35]
risk tolerance
A more specific measure of the degree of uncertainty that an investor is willing to accept in respect of negative changes to its business or assets, as opposed to risk appetite being a broad-based level.[36]
sensitivity analysis
The study of how the uncertainty in the output of a mathematical model or system (numerical or otherwise) can be apportioned to different sources of uncertainty in its inputs.[37]
workarounds
A bypass of a recognized problem in a system. A workaround is typically a temporary fix that implies that a genuine solution to the problem is needed.[38]
Risk,is an event that will impact something or someone in a _____or _____way.
Risk,is an event that will impact something or someone in a positive or negative way.
Risk management is a process therefore to identify, analyze, respond,_____and _____ risks, that may arise when working on a project.
Risk management is a process therefore to identify, analyze, respond, monitor and control risks, that may arise when working on a project.
Responses to _____ risks include exploitation, enhancement, sharing and acceptance.
Responses to positive risks include exploitation, enhancement, sharing and acceptance.
Responses to _____ risks include avoidance, mitigation, transference and acceptance.
Responses to negative risks include avoidance, mitigation, transference and acceptance.
_____ increases the impact and/or the probability of the opportunity that results from the risk.
Enhancement increases the impact and/or the probability of the opportunity that results from the risk.
The Risk Management Plan is a _____process that occurs throughout the duration of the project.
The Risk Management Plan is a continuous process that occurs throughout the duration of the project.
The assessment part is nothing else, but risk appraisal using _____and _____ approaches.
The assessment part is nothing else, but risk appraisal using qualitative and quantitative approaches.
_____ is a bypass of a recognized problem in a system. A workaround is typically a temporary fix that implies that a genuine solution to the problem is needed.
Workaround is a bypass of a recognized problem in a system. A workaround is typically a temporary fix that implies that a genuine solution to the problem is needed.
_____ analysis quantifies the impact of risk in relation to costs and _____ .
Quantitative analysis quantifies the impact of risk in relation to costs and schedule.
In order to quantify the impact of the Risk, a few different techniques and specialized software can be used. These techniques include decision tree analysis, Expected Monetary Value (EMV) and _____ _____ method.
In order to quantify the impact, a few different techniques and specialized software can be used. These techniques include decision tree analysis, Expected Monetary Value (EMV) and Monte Carlo method.
One can also estimate risk by doing the following things: creating a Risk Breakdown Structure, using a _____ _____,and devising a Risk Register.
One can also estimate risk by doing the following things: creating a Risk Breakdown Structure, using a Risk Matrix ,and devising a Risk Register.
A risk register is a log that catalogs the identified _____ to the project and documents how the team plans to respond.
A risk register is a log that catalogs the identified risks to the project and documents how the team plans to respond.
_____ reduces the impact and/or the probability of the risk from occurring.
Mitigation reduces the impact and/or the probability of the risk from occurring.
_____ shifts the impact of the risk and its response to a third party.
Transference shifts the impact of the risk and its response to a third party.
_____ _____ _____ is a tool that is used to identify risks. It is a comprehensive list of risk events that are likely to occur and it is organized hierarchy.
Risk Breakdown Structure is a tool that is used to identify risks. It is a comprehensive list of risk events that are likely to occur and it is organized hierarchy.
_____ is a group creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.
Brainstorming is a group creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.
A broad class of computational algorithms that rely on repeated random sampling to obtain numerical results is called _____ _____ analysis.
A broad class of computational algorithms that rely on repeated random sampling to obtain numerical results is called Monte Carlo analysis.
_____ _____ is a tool that is used to prioritize the risks associated with a current project.
Risk matrix is a tool that is used to prioritize the risks associated with a current project.
_____ are a type of diagram that represents an algorithm, workflow or process, showing the steps as boxes of various kinds, and their order by connecting them with arrows. This diagram representation illustrates a solution model to a given problem.
Flowcharts are a type of diagram that represents an algorithm, workflow or process, showing the steps as boxes of various kinds, and their order by connecting them with arrows. This diagram representation illustrates a solution model to a given problem.
____ _____, a variable that is quantitatively associated with a disease or other outcome, but direct alteration of the risk marker does not necessarily alter the risk of the outcome.
Risk factors, a variable that is quantitatively associated with a disease or other outcome, but direct alteration of the risk marker does not necessarily alter the risk of the outcome.
______ is a document that a project manager prepares to foresee risks, estimate impacts, and define responses to issues.
Risk strategies is a document that a project manager prepares to foresee risks, estimate impacts, and define responses to issues.
______ is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events[1] or to maximize the realization of opportunities.
Risk activities is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Procurement means acquiring goods and services from an outside source. The term procurement is widely used in government; many private companies use the terms purchasing and outsourcing. Organizations or individuals who provide procurement services are referred to as suppliers, vendors, contractors, subcontractors, or sellers; of these terms, suppliers is the most widely used. Many IT projects involve the use of goods and services from outside the organization. [1]
Procurement is the act of finding, acquiring, buying goods, services or works from an external source, often via a tendering or competitive bidding process. The process is used to ensure the buyer receives goods, services or works at the best possible price, when aspects such as quality, quantity, time, and location are compared.[4]
Gap analysis is a formal study of what a business is doing currently and where it wants to go in the future. It can be conducted, in different perspectives, as follows- Organization (e.g., Human Resources), Business Direction, Business Processes and Information technology.[5]
The‘make or buy’ decision is to decide if it’s better to do the task or make the product in-house or whether you should contract with a vendor to do it for you. Here’s an easy 5 step approach that can be used in procurement discussions-Review existing skills, Review potential skills, Review time, Review costs and Compare quality.[6]
A request for proposal (RFP) is a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service or valuable asset, to potential suppliers to submit business proposals. An RFP is used where the request requires technical expertise, specialized capability, or where the product or service being requested does not yet exist and the proposal may require research and development to create whatever is being requested.[7]
A request for information (RFI) is a standard business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next. RFI's are therefore seldom the final stage and are instead often used in combination with the following: request for proposal (RFP), request for tender (RFT), and request for quotation (RFQ).[8]
A request for quotation (RFQ) is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services. An RFQ typically involves more than the price per item. Information like payment terms, quality level per item or contract length may be requested during the bidding process.[9]
Six steps for a successful vendor selection-Kick-off and requirements definition, Market research and first vendor filtering, Request for Proposal (RFP), Evaluate responses, Proof of Concept (POC) and Select Vendor.[10]
The Contract: A contract is a legally binding agreement between two or more parties. Usually, one party is known as a buyer and another as a seller. The contract is the key to the buyer and seller relationship. It provides the framework for how they will deal with each other. Procurement contracts can be broadly divided into three categories- Fixed-Price Contract, Cost Reimbursable Contract, Time and Materials.[11]
Transition Plan: A project management transition plan is simply a document that outlines the processes to be followed during the implementation stage of any project. Upon the completion of a defined task, the project team cannot simply present the findings and deliverables to the company executives and walk away. They must also provide a thorough plan for the implementation of these ideas into the processes that already exist and this plan is called a 'transition plan' because the company will literally experience a period of change while the plans are put in motion.[12]
An ownership transition plan is a written and comprehensive document that outlines how and when the ownership of a business will be transferred to others, either internally or externally, in order to achieve the owner’s goals.[13]
An offer to set a price by an individual or business for a product or service or a demand that something be done. Bidding is used to determine the cost or value of something.[14]
buyer
Any person who contracts to acquire an asset in return for some form of consideration.[15]
cease and desist letter
A document sent to an individual or business to stop purportedly illegal activity ("cease") and not to restart it ("desist").[16]
contract
A voluntary arrangement between two or more parties that is enforceable by law.[17]
cost analysis
The accumulation, examination, and manipulation of cost data for comparisons and projections. A cost analysis is important to help an organization make a make-buy decision.[18]
deliverables
A term used in project management to describe a tangible or intangible good or service produced as a result of the project that is intended to be delivered to a customer (either internal or external).[19]
letter of intent
A document outlining one or more agreements between two or more parties before the agreements are finalized.[20]
memorandum of understanding
An agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action.[21]
non-disclosure agreement
A legal contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties.[22]
procurement
The act of finding, acquiring, buying goods, services or works from an external source, often via a tendering or competitive bidding process.[23]
proposal (Business)
A written offer from a seller to a prospective buyer. Business proposals are often a key step in the complex sales process—i.e., whenever a buyer considers more than price in a purchase.[24]
purchase order
A commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.[25]
quote
Allows a prospective buyer to see what costs would be involved for the work they would like to have done.[26]
service level agreement
A commitment between a service provider and a client.[27]
statement of work (SOW)
A document routinely employed in the field of project management. It defines project-specific activities, deliverables, and timelines for a vendor providing services to the client.[28]
vendor
A supply chain management term that means anyone who provides goods or services to a company or individuals. A vendor often manufactures inventoriable items, and sells those items to a customer.[29]
___________is the act of finding, acquiring, buying goods, services or works from an external source.
Procurement is the act of finding, acquiring, buying goods, services or works from an external source.
____________ is a formal study of what a business is doing currently and where it wants to go in the future.
Gap Analysis is a formal study of what a business is doing currently and where it wants to go in the future.
The _________ decision is to decide if it’s better to do the task or make the product in-house or whether you should contract with a vendor to do it for you.
The ‘make or buy’ decision is to decide if it’s better to do the task or make the product in-house or whether you should contract with a vendor to do it for you.
_________is a document that solicits proposal, often made through a _______process, by an agency or company interested in procurement of a commodity, service or valuable asset, to potential suppliers to submit ________ proposals.
A request for proposal (RFP) is a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service or valuable asset, to potential suppliers to submit business proposals.
A _________________is a standard business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes.
A request for information (RFI) is a standard business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes.
A __________is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services.
A request for quotation (RFQ) is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services.
A contract is a legally __________ agreement between two or more parties.
A contract is a legally binding agreement between two or more parties.
A Fixed-Price Contract is also known as a _______contract.
A Fixed-Price Contract is also known as a lump-sum contract.
In __________ the seller is reimbursed for completed work plus a fee representing his profit.
In Cost Reimbursable Contract the seller is reimbursed for completed work plus a fee representing his profit.
A __________ type of contract is generally used when the deliverable is “labor hours.”
A Time and Materials type of contract is generally used when the deliverable is “labor hours.”
A project management ___________ is simply a document that outlines the processes to be followed during the implementation stage of any project.
A project management transition plan is simply a document that outlines the processes to be followed during the implementation stage of any project.
An _______________ is a written and comprehensive document that outlines how and when the ownership of a business will be transferred to others, either internally or externally, in order to achieve the owner’s goals.
An ownership transition plan is a written and comprehensive document that outlines how and when the ownership of a business will be transferred to others, either internally or externally, in order to achieve the owner’s goals.
_______________ is an agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action.
Memorandum of Understanding is an agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action.
_______________ is a document sent to an individual or business to stop purportedly illegal activity ("cease") and not to restart it ("desist").
Cease and Desist letter is a document sent to an individual or business to stop purportedly illegal activity ("cease") and not to restart it ("desist").
_______________ is a document outlining one or more agreements between two or more parties before the agreements are finalized
Letter of Intent is a document outlining one or more agreements between two or more parties before the agreements are finalized.
The Project Closure Phase is the fourth and last phase in the project life cycle. In this phase, you will formally close your project and then report its overall level of success to your sponsor. Project Closure involves handing over the deliverables to your customer, passing the documentation to the business, cancelling supplier contracts, releasing staff and equipment, and informing stakeholders of the closure of the project. After the project has been closed, a Post Implementation Review is completed to determine the projects success and identify the lessons learned. [1]
Explain why postmortems are important to project management.
what are some best practices to follow when creating postmortems.
Review scope documents, acceptance criteria, and confirm with the sponsor and stakeholders that all scope requirements, acceptance criteria and deliverables have been completed.
Create a list or report to document any outstanding issues or information the future students may need as you turn the product or completed project over to their care.
Include project documentation like the scope, project plan deliverables, issue logs, change control logs, and budget documentation.
Include documentation to highlight best practices and project successes and also include lessons learned that will be important to future projects.
Closing includes the formal acceptance of the project and the ending thereof.[3]
The primary challenge of project management is to achieve all of the project goals within the given constraints.[4]
Administrative activities include the archiving of the files and documenting lessons learned. This phase consists of: Contract closure: Complete and settle each contract (including the resolution of any open items) and close each contract applicable to the project or project phase.Project close: Finalize all activities across all of the process groups to formally close the project or a project phase[5]
Lessons learned or lessons learnt are experiences distilled from a project that should be actively taken into account in future projects.[6]
Project post-mortems are intended to inform process improvements which mitigate future risks and to promote iterative best practices Post-mortems are often considered a key component of, and ongoing precursor to, effective risk management.[7]
Post-mortems can encompass both quantitative data and qualitative data.[8]
The project closure process is the last of the process groups, and is considered important for the project’s success.[9]
The Project Closure Report should include all important project information that would help stakeholders and future project managers to clearly understand what was accomplished during the project and how the work was completed.[10]
Closure Checklist: a closure checklist is a list of seemingly minor items that must be completed before a project can be closed. Many companies call this closure checklist a punch list.[11]
Before announcing a project's closure, project managers must create and complete a project closure checklist of any outstanding project tasks.[12]
Many different project management experts agree that the goals of a project closure report include: Review and evaluate the success of the project, Confirm outstanding issues, limitations and recommendations, Outline tasks and activities completed during the project.[13]
The purpose of the Closing Process Group according to the PMBOK® Guide is to conclude all activities across all Project Management Process Groups to formally complete the project, phase, or contractual obligations.[14]
Successful analysis of project estimate variance is dependent on accurate time tracking. The greater the granularity with which time is tracked, the more detailed an analysis can be performed during the project post-mortem.[15]
Contract Closure or Procurement Closure is done before the project can be closed completely.[16]
Administrative Closure is only done once per phase, or for the entire project. Project closure is not complete without procurement closure.[17]
A lesson learned is knowledge or understanding gained by experience.[18]
There are two triggers for the Closing a Project process: a natural close towards the end of the project and a premature close, which comes from the Project Board.[19]
The formal acceptance of the project and the ending thereof.[20]
contract closure
Complete and settle each contract (including the resolution of any open items) and close each contract applicable to the project or project phase.[21]
project close
Finalize all activities across all of the process groups to formally close the project or a project phase.[22]
post implementation review (PIR)
A vital phase of the project for the project team to learn from experiences and apply to future projects.[23]
lessons learned
Are experiences distilled from a project that should be actively taken into account in future projects.[24]
project post-mortem
A process, usually performed at the conclusion of a project, to determine and analyze elements of the project that were successful or unsuccessful.[25]
follow-on action recommendations
Comments that are given to the persons who will support the products.[26]
_______ includes the formal acceptance of the project and the ending thereof.
Closing includes the formal acceptance of the project and the ending thereof.
The primary challenge of __________________ is to achieve all of the project goals within the given constraints.
The primary challenge of project management is to achieve all of the project goals within the given constraints.
_________________________ include the archiving of the files and documenting lessons learned. This phase consists of: Contract closure: Complete and settle each contract (including the resolution of any open items) and close each contract applicable to the project or project phase.Project close: Finalize all activities across all of the process groups to formally close the project or a project phase.
Administrative activities include the archiving of the files and documenting lessons learned. This phase consists of: Contract closure: Complete and settle each contract (including the resolution of any open items) and close each contract applicable to the project or project phase.Project close: Finalize all activities across all of the process groups to formally close the project or a project phase.
_______________ or ______________ are experiences distilled from a project that should be actively taken into account in future projects.
Lessons learned or lessons learnt are experiences distilled from a project that should be actively taken into account in future projects.
Project ____________ are intended to inform process improvements which mitigate future risks and to promote iterative best practices. ____________ are often considered a key component of, and ongoing precursor to, effective risk management.
Project post-mortems are intended to inform process improvements which mitigate future risks and to promote iterative best practices. Post-mortems are often considered a key component of, and ongoing precursor to, effective risk management.
___________ can encompass both quantitative data and qualitative data.
Post-mortems can encompass both quantitative data and qualitative data.
The project closure process is the_________ of the process groups, and is considered important for the project’s success.
The project closure process is the last of the process groups, and is considered important for the project’s success.
A Project Closure Report is the ______ document that assesses the success of the project, also catalogs project deliverables and officially ends the project.
A Project Closure Report is the final document that assesses the success of the project, also catalogs project deliverables and officially ends the project.
The ____________________ should include all important project information that would help sponsors, stakeholders and future project managers to clearly understand what was accomplished during the project and how the work was completed.
The Project Closure Report should include all important project information that would help stakeholders and future project managers to clearly understand what was accomplished during the project and how the work was completed.
A Closure checklist is a list of seemingly________ items that must be completed before a project can be closed.
A closure checklist is a list of seemingly minor items that must be completed before a project can be closed.
Before announcing a project's closure, project managers must create and complete a project _________ of any outstanding project tasks.
Before announcing a project's closure, project managers must create and complete a project closure checklist of any outstanding project tasks.
Many different project management experts agree that the _______ of a project closure report include: Review and evaluate the success of the project, Confirm outstanding issues, limitations, and recommendations, Outline tasks and activities completed during the project.
Many different project management experts agree that the goals of a project closure report include: Review and evaluate the success of the project, Confirm outstanding issues, limitations, and recommendations, Outline tasks and activities completed during the project, Identify best practices and lessons learned for future projects
The purpose of the _____________________ according to the PMBOK® Guide is to conclude all activities across all Project Management Process Groups to formally complete the project, phase, or contractual obligations
The purpose of the Closing Process Group according to the PMBOK® Guide is to conclude all activities across all Project Management Process Groups to formally complete the project, phase, or contractual obligations
Successful analysis of project estimate variance is dependent on_______________________. The greater the granularity with which time is tracked, the more detailed an analysis can be performed during the project post-mortem
Successful analysis of project estimate variance is dependent on accurate time tracking. The greater the granularity with which time is tracked, the more detailed an analysis can be performed during the project post-mortem
________________ or ___________________ is done before the project can be closed completely
Contract Closure or Procurement Closure is done before the project can be closed completely
______________________ is only done once per phase, or for the entire project. Project closure is not complete without procurement closure.
Administrative Closure is only done once per phase, or for the entire project. Project closure is not complete without procurement closure.
A ______________ is knowledge or understanding gained by experience
A lesson learned is knowledge or understanding gained by experience
There are two triggers for the Closing a Project process: a _____________ towards the end of the project and a _______________, which comes from the Project Board
There are two triggers for the Closing a Project process: a natural close towards the end of the project and a premature close, which comes from the Project Board
