Project management mid term
What is a project?
Projects are costumer focused, complex, one-time processes.
Limited by budget, schedule, and recources.
Projects are developed to resolve a clear goal or set of goals.
What is a portfolio?
A portfolio is a group of different programs and/or projects within the same organization, which may be related or unrelated to one another.
What is a program?
A program is a group of projects that are similar or related to one another, and which are often managed and coordinated as a group instead of independently.
What is the major difference between project work and normal, everyday operation?
Projects are unique and temporary (with a definitive beginning and ending), while operations are ongoing and permanent.
What kind of works are typically done in the form of a project? (examples, project types)
Projects can take many shapes and forms, which makes classifying them into types a very difficult task that requires different approaches.
One simple way to categorize projects is to look at their source of capital.
· Private projects: Projects that are financed by businesses or private organizations.
· Public projects: Projects which are funded by Government agencies.
· Mixed projects: Projects that are financed by a public-private partnership.
What are the 6 constraints of a project?
The six main project constraints are time, cost, scope, quality, resources, and risks.
How to handle changes regarding the 6 constraints? (steps)
o First look for the impact of the change on the project, regarding the 6 constraint (scope, time/schedule, resources, etc.) There might be various impacts, like eg. slippage, cost increase, etc.
o Identify possible interaction/solution scenarios like in the example I told you during the lecture: If you should reduce the project duration, scenario 1 is to add resources, scenario 2 is to reduce scope.
o Analyze the different scenarios’ impacts on all project constraints. Eg. adding more resources increases cost, some new risks can emerge (like eg. new resources may need training time to work properly, etc.).
o Compare the scenarios’ impacts, and based on that make a conscious decision which to choose.
o Plan the interaction.
o Implement the plan.
What are the major characteristics of a waterfall project?
The waterfall methodology is a linear project management approach, where stakeholder and customer requirements are gathered at the beginning of the project, and then a sequential project plan is created to accommodate those requirements.
What are the major characteristics of a hybrid project?
Hybrid project management combines elements of waterfall and agile methodologies to make the project management approach best suited for an individual use case.
What are the major characteristics of a agile project?
Agile project management is an incremental and non-linear approach to project management. It focuses on breaking down large projects into more manageable tasks, which are completed in short iterations throughout the project life cycle.
List the knowledge areas described in the PMBOK guide.
- Project integration management. ...
- Project scope management. ...
- Project time management. ...
- Project cost management. ...
- Project quality management. ...
- Project resource management. ...
- Project communications management. ...
- Project risk management.
- Project procurement management.
- Project stakeholder management.
What are the process groups in the predictive project life cycle?
Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
What can be a milestone?
Milestones are key dates for the project and my be related to project deliverables, starting or closing dates,important events or decision making points
Who are the project stakeholders? Mention some key stakeholders who are usually present in projects.
Stakeholders are those with an interest in your project’s outcome. They are typically the members of a project team, project managers, executives, project sponsors, customers, and users.
What is a stakeholder map? Give an example for its possible dimensions (axis).
- It is basically a visual representation of what we think about the stakeholders of the project in terms of map’s dimensions. A popular version is an influence and support matrix.
- A stakeholder map reflects an evaluation about the project stakeholders regarding the given criteria.
What are the levels of a project goal hierarchy? Be able to give an example for a selected project.
Strategic goals/objectives
Project goals
Objectives
Milestones or tasks
Activities or action items
Sub-tasks or to-do items
Who can be a project sponsor, what does he/she do?
A project sponsor (or Godfather) is a senior-level manager who does everything possible to promote the project, including obtaining the needed resources, coaching the project team when problems arise, calming the political waters, and protecting the project when necessary. A sponsor has elected to actively support acquisition and implementation of the new technology and to do everything in his power to facilitate this process.
What are key operative management roles in agile, Scrum project?
1. Scrum master: The Scrum Master is the person on the project team responsible for moving the project forward between iterations, removing impediments, and resolving differences of opinion between the major stakeholders.
2. Development team: The organisational unit responsible for delivering the product at the end of each iteration (Sprint).
3. Product owner: The person representing the stakeholders and serving as the voice of the customer.
Mention some possible functions of PMO.
Project Planning and Monitoring: Assist project managers in creating project plans, defining scope, setting schedules, managing budgets, and tracking progress against milestones.
Risk Management: Identify, assess, and mitigate project risks, and establish risk management processes to ensure project success.
Resource Management: Allocate and optimize resources across projects, ensuring that the right skills and capacity are available when needed.
What are the major characteristics of a functional organization?
Clear Functional Hierarchies: In a functional organization, the hierarchy is based on specialized functions or departments, such as marketing, finance, engineering, etc.
Functional Managers: Project managers have limited authority and are often called "expediter" or "coordinator." They do not have control over resources or budgets.
Specialized Expertise: Employees are grouped according to their expertise and often report to functional managers who are experts in their respective fields.
Resource Sharing: Resources are shared across projects and are under the control of functional managers. Project managers must negotiate with functional managers for resource allocation.
Limited Project Focus: The primary focus is on the functional work, and projects are secondary. Projects are seen as a means to deliver specific work rather than as the primary focus.
What are the major characteristics of a balanced matrix organization?
Dual Reporting: In a balanced matrix, project managers and functional managers share authority and control over resources. Employees often report to both functional and project managers.
Resource Allocation: Project managers have more influence over resource allocation compared to a functional organization. They can negotiate for resources but do not have full control.
Project and Functional Objectives: Employees have responsibilities to meet both project and functional objectives, striking a balance between the two.
Flexibility: The organization has some flexibility to adapt to project needs while maintaining functional excellence.
Improved Communication: Dual reporting and shared authority require improved communication between project managers and functional managers.
What are the major characteristics of a projectized organization?
Project-Centric: In a projectized organization, project managers have full authority and control over the project, including resources and budgets.
No Functional Managers: There are no functional managers, or if they exist, their role is limited. Employees are assigned to projects and report directly to project managers.
Dedicated Teams: Project teams are often dedicated solely to the project's success, and team members may work exclusively on that project.
Quick Decision-Making: Decision-making is expedited, as there is no need to negotiate with functional managers for resources.
Organizational process assets are internal factors that influence projects. List 3 of them.
Project Management Templates and Forms
Historical Project Data
Organizational Policies and Procedures
Enterprise environmental factors are external factors that influence projects. List 3 of them.
Government Regulations and Standards
Market Conditions
Stakeholder Influences
List 5 key success factors of projects.
Clear Project Objectives
Effective Project Leadership and Management
Stakeholder Engagement and Communication
Skilled and Committed Project Team
Robust Project Planning and Execution
Mention 3 key elements of a project management plan.
Project Scope
Project Schedule
Project Risk Management
What are the major steps of a schedule & resource plan for development?
Project initiation
Requirement analysis
planning
Resource allocatioan
Risk management
Executioan
Change management
Monitoring and control
Communication
Quality assurance
What is a WBS?
Work breakdown structure, breaks down projects into manageble tasks.
What types of logical relationships can we find in projects?
Finish-to-Start (FS)
Start-to-Start (SS)
Finish-to-Finish (FF)
Start-to-Finish (SF)
What is a network diagram?
A network diagram is a visual representation of the relationships between various elements within a complex system or project.
What does ,,float”” mean in a project context?
Total float is the amount of time an activity can be delayed without delaying the project's completion date or affecting subsequent tasks.
What is a Pareto diagram?
A Pareto diagram, also known as a Pareto chart, is a graphical tool used to display and analyze data in a way that highlights the most significant factors or issues in a dataset.
What is the 5M method in problem analysis?
The 5M method, also known as the 5M analysis, is a problem-solving and root cause analysis technique used to identify and understand the factors or causes contributing to a problem or issue.
What is the 5 why method? Be able to create a simple cause & effect diagram.
The 5 Whys method is a simple but effective problem-solving technique that is used to identify the root cause of a problem or issue. It involves asking "why" repeatedly, typically five times (hence the name), to delve deeper into the causes of a problem.
What are cockpit charts used for?
Provides an at-a-glance overview of key performance indicators (KPIs) and critical information related to a specific process, system, or operation.
How can you define earned value in a project management context?
Earned value is a method for quantifying the value of work completed up to a certain point in the project and comparing it to the planned or budgeted value for that work.
What is the earned value management used for?
It provides valuable insights into whether a project is on track, ahead of schedule, or behind schedule, and whether it is under or over budget.