ITM ITM 435 - Project Management Chapter 1

What are "super tools?" Be able to give examples

"Super tools" were defined as those that had high use and high potential for improving project success. These super tools included software for task scheduling (such as project management software), scope statements, requirements analyses, and lessons-learned reports.

Be able to define Program

"a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually."

Define Project

"a temporary endeavor undertaken to create a unique product, service, or result."

Define project management

"the application of knowledge, skills, tools and techniques to project activities to meet the project

List and briefly describe the project attributes presented in the text

A project has a unique purpose. Every project should have a well-defined objective. For example, many people hire firms to design and build a new house, but each house, like each person, is unique. A project is temporary. A project has a definite beginning and a definite end. For a home construction project, owners usually have a date in mind when they'd like to move into their new home. A project is developed using progressive elaboration or in an iterative fashion. Projects are often defined broadly when they begin, and as time passes, the specific details of the project become clearer. For example, there are many decisions that must be made in planning and building a new house. It works best to draft preliminary plans for owners to approve before more detailed plans are developed. A project requires resources, often from various areas. Resources include people, hardware, software, or other assets. Many different types of people, skill sets, and resources are needed to build a home. A project should have a primary customer or sponsor. Most projects have many interested parties or stakeholders, but someone must take the primary role of A project involves uncertainty. Because every project is unique, it is sometimes difficult to define the project's objectives clearly, estimate exactly how long it will take to complete, or determine how much it will cost. External factors also cause uncertainty, such as a supplier going out of business or a project team member needing unplanned time off. Uncertainty is one of the main reasons project management is so challenging, because uncertainty invokes risk.

Be able to give some examples of projects (including some that aren't listed in the textbook).

A young couple hires a firm to design and build them a new house A retail store manager works with employees to display a new clothing line A college campus upgrades its technology infrastructure to provide wireless Internet access A medical technology firm develops a device that connects to smart phone. A school implements new government standards for tracking student achievement A group of musicians starts a company to help children develop their musical talents A pharmaceutical company launches a new drug A television network develops a system to allow viewers to vote for contestants and provide other feedback on programs The automobile industry develops

What skills should project managers have or develop to be successful?

All ten project management knowledge areas The application area (domain, industry, market, etc.) The project environment (politics, culture, change management, etc.) General business (financial management, strategic planning, etc.)

Why would organizations want to use portfolio management?

Are we working on the right projects? Are we investing in the right areas? Do we have the right resources to be competitive?

-What are some advantages that organizations report from using project management?

Better control of financial, physical, and human resources Improved customer relations Shorter development times Lower costs Higher quality and increased reliability Higher profit margins Improved productivity Better internal coordination Higher worker morale

What is the difference between a manager and a leader

Generally, a leader focuses on long-term goals and big-picture A manager often deals with the day-to-day details of meeting specific goals.

List and briefly describe the project management process groups and each of the knowledge areas.

Project management knowledge areas describe the key competencies that project managers must develop. Project integration management is an overarching function that coordinates the work of all other knowledge areas. It affects and is affected by all of the other knowledge areas. Project scope management involves working with all appropriate stakeholders to define, gain written agreement for, and manage all the work required to complete the project successfully. Project time management includes estimating how long it will take to complete the work, developing an acceptable project schedule given cost-effective use of available resources, and ensuring timely completion of the project. Project cost management consists of preparing and managing the budget for the project. Project quality management ensures that the project will satisfy the stated or implied needs for which it was undertaken. oProject human resource management is concerned with making effective use of the people involved with the project. Project communications management involves generating, collecting, disseminating, and storing project information. Project risk management includes identifying, analyzing, and responding to risks related to the project. Project procurement management involves acquiring or procuring goods and services for a project from outside the performing organization. Project stakeholder management focuses on identifying project stakeholders, understanding their needs and expectations, and engaging them appropriately throughout the project. Note that PMI added stakeholder management as a tenth knowledge area to the

What are "tools and techniques?" Be able to give examples

Project management tools and techniques assist project managers and their teams in carrying out work in all ten knowledge areas. For example, some popular time-management tools and techniques include Gantt charts, project network diagrams, and critical path analysis.

What is the difference between program and portfolio management

The main distinction between project or program management and portfolio management is a focus on meeting tactical versus strategic goals.

How do you define project success

The project met scope, time, and cost goals. The project met scope, time, and cost goals. 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.

What are some examples of "stakeholders?

The project sponsors would be the potential new homeowners. They would be the people paying for the house and could be on a very tight.

Define stakeholders

are the people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents to the project.

Define "ethics.

defined, is a set of principles that guide our decision making based on personal values of what is "right" and "wrong."

Be able to define and differentiate between the terms "project management process groups," and "knowledge areas."

five project management process groups include initiating, planning, executing, monitoring and controlling, and closing activities. Project management knowledge areas describe the key competencies that project managers must develop.

Why are ethics important in project management?

generates trust and respect with other people.

Be able to define Portfolio management

in which organizations group and manage projects and programs as a portfolio of investments.

Why is leadership important?

positive leadership contributes the most to project success.

Be able to define Program manager

program manager provides leadership and direction for the project managers heading the projects within the program.

What are the other typical project constraints

triple constraint. Scope: What work will be done as part of the project? What unique product, service, or result does the customer or sponsor expect from the project? Time: How long should it take to complete the project? What is the project's schedule? Cost: What should it cost to complete the project? What is the project's budget? What resources are needed? quadruple constraint which adds quality as a fourth constraint. Quality: How good does the quality of the products or services need to be? What do we need to do to satisfy the customer?