CompTIA Project+ PK0-005 Study Guide terms with Complete Solutions.
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Course
CompTIA Project
Institution
CompTIA Project
CompTIAProject+PK0-005StudyGuidetermswith
CompleteSolutions.
Project+ Exam Purpose - > Gives It professionals the basic concepts to successfully
manage small to medium sized projects.
Project Management - > The practice of initiating, planning, executing, controlling, and
closing the wor...
CompTIA Project+ PK0-005 Study Guide terms with
Complete Solutions.
Project+ Exam Purpose - > Gives It professionals the basic concepts to successfully
manage small to medium sized projects.
Project Management - > The practice of initiating, planning, executing, controlling, and
closing the work of a team to achieve specific goals and meet specific success criteria at
the specified time.
Designed to deliver work in an efficient, orderly manner
Project - > Temporary organization created for the purpose of delivering one or more
business products according to an agreed-upon business case.
Business as Usual - > Standard and typical business operations.
Discovery Phase - > When leaders and analysts brainstorm ideas for their organization
and decide whether they are practical.
Initiation Phase - > When the project is outlined, including the project's goal, what the
product is attempting to deliver, and what the final product will look like.
This phase builds the project team and identifies their roles.
Planning Phase - > A high level summary of the project's goal are thought out to ensure
success, including resource allocation in order to ensure adequate backing to get the job
finished properly.
This phase is used to establish tracking progress.
Execution Phase - > When the project begins its delivery. All goals that were set in the
initiation phase should be finished by the end of this phase.
Closing Phase - > When the project "winds down and ends", where the product is
delivered, billing accounts are closed, feedback is provided, and lessons are recorded.
,Used to determine if the project was a success, and find out what failed if the project could
not be executed successfully.
Project Manager - > - Responsible for Coordination and Communication
- Deliver new value to their organization
- Work within a Strict Schedule and Budget
- Know everything about the project's progress
- Provide information to teammates and stakeholders
Contingency Reserve - > A calculated buffer of time and cost that covers documented
risks ("known unknowns")
Process of using set-aside resources in a project to handle unforeseen risks or changes.
Management Reserve - > An additional amount of time or money that serves as a
contingency for "unknown unknowns"
Operational Work - > A routine, predictable, and repetitive work.
Project Work - > Type of work that accomplishes something new.
Unique Objective - > Each project must complete a brand-new objective.
Specific Objective - > The reason for the project to exist.
Temporary Objective - > The project must have a defined beginning and end.
Functional Organization - > Divides the organization into areas of specialization and
expertise.
Functional Manager - > Responsible for maintaining the budget and managing personnel.
Projectized Organization - > The organization pools resources around projects as its main
focus.
,This organization benefits companies that spend most of their resources on project work.
Matrix Organization - > Includes both functional leaders and specialized roles.
Weak Matrix Organization - > The functional manager retains the budget and staff
management responsibilities.
Strong Matrix Organization - > The project manager has substantial control over the
project.
Program Manager - > Individuals that lead programs or related groups of projects,
operating at a more strategic level and oversees multiple projects in a program.
Project Management Office (PMO) - > Functional Department for all project managers in a
company.
Supportive Project Management Office - > Provides support when it is requested.
Controlling Project Management Office - > Monitors project performance and coordinates
resource selection while allocating a project managers to projects.
Directive Project Management Office - > Has full authority over projects, standards, and
procedures.
Stakeholder - > Anyone with a vested interest in the project.
People or groups affected by projects, but carry responsibilities for the project as well.
Senior Management - > Highest level of leadership in an organization.
Responsible for managing organizational risks and may become stakeholders for specific
risks in a project depending on their priority and nature.
Sponsor - > A single senior management member that reviews and validates initial
business case. They are able to secure funding and remove barriers.
, Customers - > Parties who receive the benefits from the projects.
Internal Customer - > A customer who is inside of the organization, and are more easily
accessible to provide feedback during and after a project.
External Customer - > A customer who is outside of the organization and may fund the
project's results.
End-User - > Person who will interact with the project's final output.
Program - > A group of related projects.
Portfolio - > A group of all projects and programs.
Enterprise Portfolio - > Contains all programs and projects in an organization and is
broken down into sub-portfolios at the division or branch level.
Portfolio Management - > Offers strategic context and perspective that helps an
organization to maintain a maximum number of projects and prioritizes them into
objectives or priorities.
Business Case - > It summarizes information about the project and seves as the first
project proposal.
Executive Summary - > A brief synopsis of what the remaining portions of the business
case will cover.
Problem Statement - > Shares more details about the problem.
Options - > Compare the solutions against each other with pros and cons.
Financial Overview - > Contains a cost-benefit or return on investment analysis and
provides relevant risks and assumptions.
Project Definition - > Additional relevant information about the proposed project.
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