Project Management Mid Term

Scope creep

When one of these elements is restricted or extended, the other two elements will then also need to be either increased or reduced in some way.

After you get the go ahead to plan your project, the first thing you do

is identify the work that has to be done (using WBS)

assumption

is something that someone takes to be true without confirming it.

Initiation

is the first phase of the project lifecycle. This is where the project's value and feasibility are measured.

A work breakdown structure, or WBS

is what you use to divvy up project work into bite sized pieces. So you can plan, track, and manage your project effectively.

Which process groups must be performed to manage any project?

initiating, planning, executing, monitoring and controlling, and closing

+ NPV

project is eligible for further consideration

Requirements

provide the details of what the outcome must do, and the features it must have. They describe the specific needs of the project.

Scope step #1

putting together a Scope Management Plan.

The best way to build a WBS is to

start at the top (top level of summary tasks) and work your way down.

Problem Statement

"-Despite increasing tourism in Florida, SeaWorld has been receiving a decreasing number of guests, which indicates loss of market share

Providing extra work outside of the project scope is known as ______. It is not an efficient practice as it consumes resources which have not been planned for.

"Gold Plating"

Summary tasks

are the higher level tasks that summarize project work in some way

Work packages

are the lowest level tasks in the work breakdown structure. They spell out project deliverables and the details of the work needed to deliver them.

Excuation

3rd phase This is the phase that is most commonly associated with project management. Building deliverables Team leaders make this happen by allocating resources and keeping team members focused on their assigned tasks. Execution relies heavily on the planning phase. The work and efforts of the team during the execution phase are derived from the project plan.

Project Monitoring and Control

4th phase- As teams execute their project plan, they must constantly monitor their own progress.

Project Closure

5th phase- This vital step in the project lifecycle allows the team to evaluate and document the project and move on the next one, using previous project mistakes and successes to build stronger processes and more successful teams.

Project teams tend to be smaller, more experienced, and able to work without much supervision. in which approach

Agile and Iterative

What is meant by "Project Scope"?

All the work that needs to be done to make the product

3 C's of a project charter

Communication needs collection of knowdlege commitment

Rough estimates

During project selection and chartering, what types of budgeting is applied?

Path

In an AON network, a sequence of connected, dependent activities is termed

The project charter authorizes the project manager to work on a project, and is required before the project manager can begin planning.

Initiating process group

Validate Scope happens in the ______ phase

Monitoring & Controlling

predecessor activity

One that must be completed before the activity in question

Triple Constraint AKA

PM Triangle

1. Time 2. cost 3. scope/ performance quality

PM Triangle Factors

The time the project cash flows will take to recover the project investment

Payback Period Model

Define Scope happens in the ______ phase

Planning phase

A definition of the end result or mission of the project—a product or service for the client/customer—in specific, tangible, and measurable terms.

Project Scope definition

Project Scope Checklist

Project objective .Deliverables Milestones .Technical requirements Limits and exclusions .Reviews with customer

3 R's of a project charter

Risk Resources Routine

The Gantt chart is used to easily illustrate the project _________.

Schedule

Expanding the parameters of our project without adding time or money is known as _________.

Scope Creep

When project managers identify communication needs, they begin by considering the ____________.

Stakeholders

You are using a management tool to analyse the level of impact and interest of your project stakeholders. What is the name of this tool?-

Stakeholders Analysis

Example: Updating conference center technology ,Remodeling the conference center, and so on.

Summary Task

Purpose of the Scope Statement

To clearly define the deliverable(s) for the end user. To focus the project on successful completion of its goals. To be used by the project owner and participants as a planning tool and for measuring project success.

The Net Present Value (NPV)

Uses management's minimum desired rate-of-return (discount rate) to compute the present value of all net cash inflows.•

Planning is completed entirely up front in the ________ approach to project management.

Waterfall approach

3 W's of a project charter

What Why When

Scope Management

Which of the following is the knowledge area that includes processes to help you ensure that the project plan includes all the work required, and only the work required, to complete the project successfully?

Run cables, Set up racks, Place equipment, Configure equipment, Connect to network, and Test.

Work Packages

A work package document does more than describe the work

also identifies how you know the task is complete and whether it was completed correctly.

As a general rule of thumb, no task within the WBS should.

be less than 8 hours or more than 80 hours

Developing requirements is

challenging because Stakeholders might describe their requirements incorrectly, or provide inconsistent or contradictory requirements.

problem statement

clearly defines the problem you're trying to solve or the opportunity you want to take advantage of.

Agile and Iterative

customers have to be more involved than in traditional projects.

planning phase

define the project in more detail. Identifying additional objects, fine-tuning requirements

The project goal

drives every decision in the project, the high level target that states the end result that the project will achieve. should be a simple statement, and easy for everyone to understand.

Project charter

gives everyone involved a common understanding of what the project entails and why its being done

Deliverables

help you define the project scope

Scope step #2

identifying and documenting project requirements needed to achieve the project objectives

project sponser

oversee and champion of your project throughout. Provides guidance and assistance

Project Manager

planning and overseeing the project. Must communicate.

Create WBS happens in the ______ phase

planning phase

- NPV

reject

Opperations

represents work that's the same day after day, producing the same result. No definate begining or end.

Planning

second phasee: might encounter over the course of the project, and helps them understand the cost, scope and timeframe of the project.

A scope statement

simply a document that spells out the project scope.

Team members are also

stakeholders.

Project

temporary endeavor that has a unique goal and usually a budget. Must end at some point.

Project Scope

the boundaries of the project. It identifies what is included in the scope of the project and just as important, what isn't included.

Scope step #3

weed out requirements that aren't absolutely necessary,

With iterative and agile projects...

you also monitor and control the project more closely, and communicate faster and more frequently.