Study guides, Class notes & Summaries

Project A temporary endeavor undertaken to create a unique product, service, or result. business value The net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both. What 4 factors influence an organization's ongoing operations and business strategies Meet regulatory, legal, or social requirements; satisfy stakeholder requests or needs; create, improve, or fix products, processes, or services; implement or change business or technological ...

You are the Project Manager for a large construction project. While reviewing the expenditures, you realize that you are 20% over budget. What process group are you working in? Monitoring and Control What is the main benefit of a balanced matrix organization over a projectized organizational structure? More efficient use of resources As the Sponsor on a large, multi-national hydroelectric power project, during the execution phase, your primary responsibilities are to: Provide the financial...

Iron Triangle (Triple Constraints) 1) Time 2) Cost 3) Scope (Quality in the middle) System Dynamics Relationships between components/departments Iterative and Incremental Life Cycles A high-level upfront scope with cost and schedule developed over iterations of planning; Phases repeat through iteration; iterations create deliverables; detailed scope for each iteration; change expected Progressive Elaboration The iterative process of increasing the level of detail in a project managem...

Outcome End result/consequence of process/project. Can include ouputs and artifacts, broader intent focusing on benefits and value project was supposed to deliver Portfolio Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. Product An artifact that is produced, quantifiable. End item or component item Program Related projects, subsidiary programs, and program activities managed in coordinated manner to obtain benefits not availa...

PMP EXAM PREP SYMPLIFIED A Comprehensive Study Guide to Ace the PMP Exam with Practice Questions, Detailed Answers, Insightful Rationale, and Exam Strategies for Success CONTENTS Chapter 1 Introduction About the PMP Exam Exam Preparation Strategy Exam Taking Tips Chapter 2 Basics of Project Management Definition and Characteristics of a Project Project Life Cycle and Project Management Processes The Role of the Project Manager ...

product owner - ANSWERSwho establishes vision and prioritizes the product backlog? product backlog - ANSWERSwhat is created, sized, and prioritized before the first sprint, and 'groomed' throughout the project? It is made up of features that have value to the customer which is represented in many ways, the most popular being User Stories and Use Cases Sprint planning - ANSWERSWhat a sprint starts with. - one day - acceptance defined - team commits - tasks created Sprint backlog -...

What is OPM? - ANSWERSOrganizational project management (OPM) takes into account the relationships between many facets, including strategy, portfolio, programs and projects, and operations. If you visualized projects, programs, and portfolios as a vertical hierarchy, which would be at the top, encompassing the others? - ANSWERSPortfolios Portfolio management is the _____ management of one or more portfolios to achieve strategic objectives. - ANSWERSCentralized

Culture, knowledge, language, geographic location, emotions, and attitudes - ANSWERSReceivers filter their messages through these. It describes the process for determining project scope, helps in creating the WBS, describes how the product or service is verified and accepted, and documents how changes to scope will be managed. - ANSWERSDescribe the purpose of the scope management plan. These are stages of team development found in the Develop Project Team process. - ANSWERSForming, stormin...

The business need or demand that brought about the project, high-level scope description, analysis of the problem or opportunity the project presents, recommendation, and an evaluation statement together describe elements of which of the following? - ANSWERSThe Business Case Who is responsible for performing and managing project integration when using an Agile project management approach? - ANSWERSProject Manager Which of the following lists the outputs of the Perform Integrated Change Con...

An element of the project scope statement is: - ANSWERSAcceptance Criteria Which document describes the necessary information to determine if a project is worth the required investment? - ANSWERSBusiness Case Which input to the Plan Risk Management process provides information on high-level risks? - ANSWERSProject Charter Which item is an example of personnel assess