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