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ITM 750

What is a project?

A temporary endeavour undertaken to create a unique product, service, or result

Operations is work done to sustain the business

Projects end when tehir objectives have been reached or the project has been terminated

What is an example of an IT project?

A team of students creates a smartphone application and sells it online

A company develops a driverless car

A government group develops a system to track child immunizations

A global bank acquires other financial institutions and needs to consolidate systems and procedures

Project attributes

unique purpose

temporary

drives change and enables value creation

developed using progressive elaboration

requires resources

should have a primary customer or sponsor

uncertainty

T or F: project managers work with project sponsors, team, and other people involved in a project to achieve project goals

T

Constraints

Cost

Time

Scope

Project integration management consists of what type of management?

Scope

Cost

Quality

Resource

Communications

Risk

Procurement

Stakeholder

What are the people involved in or affected by project activities called?

Stakeholders

The project sponsor, banks and other financial institutions, the project manager, the project team, support staff, suppliers, and opponents to the project are what?

Stakeholders

What defines project success

The project met scope, time, and cost goals

The project satisfied the customer/sponsor

The results of the project met its main objective, such as making or saving a certain amount of money, providing a good return on investment, or simply making the sponsors happy

Factors of success

Executive sponsorship

Emotional maturity

User involvement

Optimization

Skilled resources

Agile processes

Modest execution

Project management expertise

Clear business objectives

Top three reasons why federal technology projects succeed

Adequate funding, staff expertise, engagement from all stakeholders

What is a group of related projects managed in a coordinated manner to obtain benefits and control not available from managing them individually?

Programs

As part of ________________, organizations group and manage projects and programs as a portfolio of investments that contribute to the entire enterprise's success

project portfolio managemnet

Framework in which portfolio, program, and project management are integrated with organization enablers in order to achieve strategic objectives

Organizational project management

Venture is a discretionary cost. T or F

T

Growth is a nondiscretionary cost. T or F

F

Core is a discretionary cost. T or F

F

What is the organizational group responsible for coordinating the project management function throughout an organization

Project Management Office

Meaning “let go,” this hands-off approach lets teams determine their own goals and how to achieve them.

Laissez-faire

This management by exception approach focuses on achieving goals or compliance by offering team members appropriate rewards and punishments.

Transactional

People using this approach focus on relationships and
community first and leadership is secondary.

Servant leader

By working with others to identify needed changes, these
leaders empower others and guide changes through inspiration.

Transformational

These people can inspire others based on their enthusiasm and confidence.

Charismatic

This leadership style is a combination of transactional,
transformational, and charismatic.

Interactional

By 2027, employers will need over ____________ million individuals working in project management–oriented roles.

87

Which of the following is not a potential advantage of using good project management?

Lower cost of capital

A ____________ is a temporary endeavor undertaken to create a unique product, service, or result.

project

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