Project Management

What does strategic stakeholder management consist of?

* It consists of identifying the project stakeholders, their impact on the project, and, if necessary, managing it for positive results. * Project management should find ways to balance conflict demands and still maintain supportive and constructive relationships with each important stakeholder group.

What does an effective statement of work (SOW) includes?

- Technical description of the project - an analysis, in clear terms, of the technical challenges the project is intended to resolve; describes detailed work and the deliverables required. - Timeline and milestones - presents deadlines for completion and key deliverables of the project (outcomes).

What does scope management consists of ?

1. Conceptual development 2. Scope statement 3. Work authorization 4. Scope reporting 5. Control systems 6. Project termination

Who are some stakeholders that can be included in project reporting?

1. Members of the project team 2. Project clients 3. Top management 4. Other groups within the organization affected by the project 5. Any external stakeholders who have an interest in project development, such as suppliers and contractors

Why are projects important?

1. shortened product life cycles 2. narrow product launch windows 3. increasingly complex and technical products 4. emergence of global markets.

What are the benefits of developing a Responsibility Assignment Matrix (RAM) for a project?

A RAM outlines the team members directly responsible for each task. It also includes a list of supporting organizational members. It is beneficial for following chain of command, solving interdepartmental issues and receiving proper approval. Additionally, an RAM increases the flow of communication throughout the team. By knowing who is in charge of what, members can notify the necessary people of progress or completion of tasks. This keeps the group informed of potential problems and up-to-date on the project's current status. The process of creating the RAM is also beneficial to the project manager. It requires the identification of team members' abilities, qualifications, strengths and weaknesses. Tasks and assignments can then be better coordinated to create the highest level of efficiency.

What are the principal benefits of developing a comprehensive project scope analysis?

A comprehensive project scope analysis serves several benefits that permit a company to guide the dream of a project to a successful completion. One benefit is transforming the idea of the project into a working concept. Once the concept is developed, project details can be mapped out. Scope analysis outlines each step of the project in a detailed manner. The primary benefit to this is it aligns the project so that the final product will be consisted with the original goals/objectives. By outlining each step, scope analysis increases the likelihood that the project will stay within budget and time constraints as well as meet predetermined specifications and quality parameters.

What's the definition of a project?

A project is a temporary endeavor undertaken to create a unique product, service, or result. (PMBoK*).

What is the planning phase in the project life cycle?

All detailed specifications, schedules, schematics, and plans are developed.

Any measurable, tangible, verifiable outcome, result, or item that must be produced to complete a project or part of a project is a: A) Product. B) Deliverable. C) Tangible. D) Work product.

B) Deliverable.

Updates on how the project is performing against milestones can be accomplished by issuing a report containing: A) S-curves. B) Schedule status. C) Earned value. D) Technical performance.

B) Schedule status.

The reporting frequency, report recipients, and content required during project execution is laid out by: A) The organizational breakdown structure. B) Scope reporting. C) The information system architecture. D) A need-to-know basis

B) Scope reporting.

The statement of work should contain: A) Information on the key objectives for the project. B) A brief and general description of the work to be performed. C) Expected project outcomes. D) All of these are elements of a statement of work

D) All of these are elements of a statement of work

What forms of organizational structure exist?

Functional organizations—group people performing similar activities into departments Project organizations—group people into project teams on temporary assignments Matrix organizations—create a dual hierarchy in which functions and projects have equal prominence

What is a project stakeholder analysis?

Project Stakeholder analysis is a useful tool for demonstrating some of the (seemingly irresolvable) conflicts that occur through the creation and introduction of new projects.

What is the definition of project scope?

Project scope is everything about a project—work content as well as expected outcomes (activities, resources, outputs, quality standards, goals, constraints, limitations,...).

What is the control system design control?

· Design control - relates to systems for monitoring the project's scope, schedule, and costs during the design stage.

What does strategic management consist of?

• Developing vision and mission statements • Formulating, implementing, and evaluating • Making cross-functional decisions • Achieving objectives

What are some records or reports that the project manager's clients could require at the completion of a project?

• Historical records, or project documentation that can be used to predict trends and highlight problem areas for similar future projects; • Post-project analysis, which follows a formal reporting structure, including analysis and documentation of the project's performance in terms of cost, schedule compliance, and technical specification performance. • Financial closeout, or the accounting analysis of how funds were applied in the project

What is the definition of internal clients?

Internal clients - it involves obligations, such as establishing an audit trail by linking all budget and resource requirements to the formal cost accounting system of the organization.

What four phases is the project's life cycle divided in?

A project life cycle refers to the stages in a project's development and are divided into four distinct phases: 1. Conceptualization/ Foundation - development of the initial goal and technical specifications of the project. Key stakeholders are identified and signed on at this phase. 2. Planning - all detailed specifications, schedules, schematics, and plans are developed. 3. Execution/ Implementation - the actual "work" of the project is performed. 4. Termination - project is transferred to the customer, resources reassigned, project is closed out.

What is a project life cycle?

A project life cycle refers to the stages in a projects development and are divided into four distinct phases.

What is a responsibility assignment matrix?

A responsibility assignment matrix identifies team personnel who will be directly responsible for each task in the project's development.

What is a scope baseline?

A scope baseline is a summary description of each component of the project's goal, including basic budget and schedule information for each activity. It provides control parameters of cost and schedule.

What is a work breakdown structure?

A work breakdown structure divides the project into its components.

What are the key characteristics of a work package?

A work package is a specific step of the project. Work packages are smaller pieces of the whole project, which are more manageable and definable than the whole. They create a chronological map from one step to the next detailing what needs to be completed at each stage. Each work package includes its own deadline, resource requirements, and responsible or supervisor. Collectively, all the work packages of a project combined lead the project team from the start to completion of the project.

The project team would never know when it was time to order more material XYZ without their fancy new: A) Acquisition (förvärv) control system. B) Specification control system. C) Configuration control system. D) Design control system.

A) Acquisition (förvärv) control system

The costs attached to subdeliverables: A) Are the summary of the work packages that support it. B) Are called phantom costs. C) Should be subtracted directly from deliverable costs. D) Are not recoverable unless explicitly stated in the work breakdown structure.

A) Are the summary of the work packages that support it.

Procedures that monitor emerging project scope against the original baseline scope are called: A) Configuration control. B) Design control. C) Trend monitoring. D) Document control.

A) Configuration control.

Which of the following is descriptive of a vision statement? A) Inspirational B) Functional C) Supportive D) Critical

A) Inspirational

Which of these is NOT an element of project scope management? A) Project champion B) Scope statement C) Project termination D) Control systems

A) Project champion

Conceptual development for a project concludes with: A) Project objectives. B) Alternative analysis. C) Project delivery. D) Team dissolution.

A) Project objectives.

A project manager can identify personnel who will be directly responsible for each task in the project's development by using a(n): A) Responsibility assignment matrix. B) Milestone designation chart. C) Merrill report. D) Work package report.

A) Responsibility assignment matrix.

1. Which statement about scope management is BEST? A) Scope management must take place during the conceptual development, full definition, execution, and termination phases. B) Project goals don't matter in scope management as long as the budget is not exceeded. C) Scope management is accomplished in a single step by any one project team member. D) Scope management can begin once a project hits operational level.

A) Scope management must take place during the conceptual development, full definition, execution, and termination phases.

Which of the following is NOT an element of organizational structure? A) Well-articulated mission, vision, and value statements B) Formal reporting relationships C) Grouping together of individuals into departments D) Systems designed to ensure effective communication

A) Well-articulated mission, vision, and value statements

Companies that are structured by grouping people performing similar activities into departments are: A) Project organizations. B) Functional organizations. C) Matrix organizations. D) Departmental organizations.

B) Functional organizations.

A dual hierarchy is the salient feature of a: A) Project structure. B) Matrix structure. C) Functional structure. D) Bi-modal structure.

B) Matrix structure.

The definition stating, "a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the project deliverables," is for the: A) Project plan. B) Work breakdown structure. C) Deliverable statement. D) Scope expansion.

B) Work breakdown structure.

What are work breakdown structure elements that must be completed to conclude the project deliverables? A) Jobs B) Resources C) Tasks or work packages D) Milestones

C) Tasks or work packages

The acronym PMBoK stands for: A) The Personal Management Before or Kernel. B) The Project Movement Behind our Kernel. C) The Project Management Body of Knowledge. D) The Performance Measurement Body of Knowledge.

C) The Project Management Body of Knowledge.

The step that reflects the formal "go ahead" given to the project to commence once the scope definition, planning documents, and other contractual documents have been prepared and approved is the: A) Go ahead. B) Send off. C) Work authorization. D) Work release.

C) Work authorization.

Which of the following types of activities is more closely associated with projects rather than processes? A) An activity that is ongoing B) An activity that is day-to-day C) An activity that uses existing systems D) An activity that establishes its own work rules

D) An activity that establishes its own work rules

Closeout documentation that follows a formal reporting structure, including analysis and documentation of the project's performance in terms of cost, schedule adherence, and technical specification performance, is: A) Historical records. B) Financial closeout. C) Hierarchy reporting. D) Post-project analysis.

D) Post-project analysis.

Budget and schedule information for each activity in a project is contained in the: A) Project goal criteria. B) Management plan. C) Work breakdown structure. D) Scope baseline.

D) Scope baseline.

What is project termination?

Effective scope management also includes appropriate planning for a project's termination. The project termination or closeout step requires project managers to consider the types of records and reports they and their clients will require at the completion of the project.

What is the termination phase in the project life cycle?

Project is transferred to the customer, resources reassigned, project is closed out.

What is scope management?

Scope management is the function of controlling a project in terms of its goals and objectives.

What is an example of a work breakdown structure (WBS)?

Task 1: Refine topic Task 2: Library research Task 3: Develop preliminary outline for paper and presentation. Task 4: Produce draft of paper. Task 5: Proofread and correct drafts. Task 6: Refine class presentation. Task 7: Turn in paper and make classroom presentation.

What is the definition of a work breakdown structure (WBS)?

The WBS is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the project deliverables. Each deliverable is decomposed, or broken down, into specific pieces representing work to be completed. • Rather than giving a starting date and an end goal, the WBS provides a string of checkpoints along the way. • These checkpoints address the steps in the project, from the start to the conclusion.

What is the execution/implementation phase in the project life cycle?

The actual "work" of the project is performed.

What does work authorization stand for?

The formal "go ahead" to begin work.

What is the control system aquisition control?

· Acquisition control - monitors acquisition of equipment, materials, or services needed for project development and implementation.

What is the control system specification control?

· Specification control - ensures that project specifications are prepared clearly, communicated to all concerned parties, and changed only with proper authorization.

What is the control system trend monitoring?

· Trend monitoring - is the process of tracking the estimated costs, schedules, and resources needed to complete the project against those planned.

What are common Project Success Rates?

* KPMG - Software and hardware projects fail at a 65% rate * META - Over half of all IT projects become runaways (overshooting their budgets and timetables while failing to deliver fully on their goals). * UK gov. study - Only 30% of technology-based projects and programs are a success. * One out of six (17%) IT projects has an average cost overrun of 200% and a schedule overrun of 70%.

What does project structure mean?

* Project organizations are designed with an exclusive focus on project development. (Ex: Construction, aircraft manufacturing such as Boeing or Airbus, software consulting, and research and development). * Each project is a business unit with a dedicated project team. * Resources are assigned from functional departments to the project. * The project manager has sole control over the resources the project unit uses. * The role of functional departments' managers is to ensure that there are sufficient resources available as projects need them.

What General project characteristics exist?

* Projects are specific purpose endeavors with a clear life cycle. They are specific, non traditional, and temporary operations * Projects are building blocks in the design and execution of organizational strategies. Project are the vehicles for realizing company goals. * Projects are responsible for the newest and most improved products, services, and organizational processes. Projects are tools for innovation. * Projects provide a philosophy and strategy for the management of change. The manner in which a company develops its projects has much to say about its ability to innovate and its commitment to change. * Project management entails crossing functional and organizational boundaries. Projects are effective means of promoting collaboration, both across functions and across organizations. * Traditional management functions of planning, organizing, directing, and controlling apply to project management. * Principal outcomes of a project are the satisfaction of customer requirements within the constraints of technical, cost, and schedule objectives. * Projects are terminated upon successful completion of performance objectives.

What is a project?

* Projects differ from operations/production processes * A process refers to ongoing, day-to-day, and repetitive activities in which an organization engages while producing goods or services. * Projects are complex, one-time processes. Requires the coordination of numerous activities, resources, and members of the organization. Because a project is intended to fulfill a stated goal, it is temporary. * Projects are limited by budget, schedule, and resources. * Projects are develop/ed ro resolve a clear goal or set of goals. The project's goals, or deliverables, define the nature of both the project and its team. * Projects are customer-focused. The purpose of any project is to satisfy (internal och external) customer needs.

What does functional structure mean?

* The logic of the functional structure is to group people and departments performing similar activities into units, such as accounting, marketing, production, or research and development. * Division of labor is based on to the type of work performed. * Members routinely work on projects or support product lines simultaneously.

What does project Matrix mean?

* The matrix organization, which is a combination of functional and project activities, seeks a balance between the functional organization and the pure project form. * There is dual hierarchy in which there is a balance of authority between the projects and the functional departments. * Each project manager has to work with the functional heads to determine the number people required to perform project activities, and when these people will be available. * Project team personnel remain under the authority of both the project manager and their functional department supervisor.

What are some other elements that may be included in conceptual development?

- Business case - Statement of work (SOW)

How to manage stakeholders?

1. Assess the environment. Assessing the external and internal environments of the project helps to find key stakeholders. 2. Identify the goals of the principal stakeholders Paint an accurate portrait of stakeholder goals and concerns. Important to look for hidden agendas and other sources of constraint on implementation success. 3. Assess project team capabilities in dealing with stakeholders Some questions are: Are the project team able to gain support from each of the stakeholder groups? If not, do they have connections to someone who can? 4. Define the problem. Define the problems both in terms of project/team perspective and in consideration of the concerns of the stakeholder - Recognize that different parties can have very different but equally legitimate perspectives on a problem. 5. Develop solutions. Create an action plan to address, the needs of the various stakeholder groups in relation to the other stakeholder groups. 6. Test and refine the solutions. Observe how stakeholders react to certain initiatives and reshape strategies accordingly.

What does typical project reports contain?

1. Cost status - updates on budget performance (including labor hours and other costs) against project schedule 2. Schedule status - updates on schedule compliance 3. Technical performance status - updates on technical issues and solutions

What are the three key elements in Organizational Structure?

1. Designate formal reporting relationships - number of levels in the hierarchy (Who reports to whom) - span of control (number of subordinates directly reporting to each supervisor) 2. Identifies groupings of - individuals into departments (function, product, geography, projects,...) - departments into the total organization 3. Design of systems to ensure - effective communication - coordination - integration across departments

What are the six main purposes that the work breakdown structure (WBS) serves?

1. Reflects project objectives - WBS identifies the main work activities that will be necessary to accomplish project goals. 2. Organization chart for the project - A WBS identifies the key elements (tasks), the various subtasks, and the logical flow from activity to activity. 3. Creates logic for tracking costs, schedule, and performance specifications - All project activities identified in the WBS can be assigned their own budgets and performance expectations. 4. Communicates project status - Once tasks and responsibilities have been identified, you can determine which tasks are on track, which are critical and pending, and who is responsible for their status. 5. Improves project communication - Project team members become aware of how their component fits into the project, who is responsible for providing upstream work to them, and how their activities will affect later work. 6. Demonstrates control structure - The WBS gives logic to the control approach and the most appropriate control methods

What are the elements of project management responsibilities?

1. Selecting a team - Team building and conflict management are the first challenges that project managers face. 2. Developing project objectives and a plan for execution - (S4. Scope Management) Identifying project requirements and a logical plan to develop the project are crucial 3. Performing risk management activities - (S5. Risk Management) Projects are not developed without a clear sense of the risks involved in their planning and implementation. 4. Cost estimating and budgeting - (S6. Cost Estimation and Budgeting) Because projects are resource-constrained activities, careful budgeting and cost estimation are critical. 5. Scheduling - (S7/S8. Project Scheduling I/ II) The heart of project planning revolves around the process of creating clear and aggressive, yet reasonable schedules that chart the most efficient course to project completion. 6. Managing resources - (S9. Resource Management) The final step in project planning is the careful management of project resources, including project team personnel, to most efficiently perform tasks.

What are the key steps in conceptual development?

1.1 Problem or need statement - what the underlying problem/need is and what the project intends to do. 1.2 Requirements - demands, needs, and specifications for a product/project outcome as outlined by project stakeholders: (1) product-related requirements, (2) quality requirements, and (3) performance requirements. 1.3 Information gathering - all the relevant data for the project (target dates, alternative supplier options, degree of top management support, funding sources,...) 1.4 Constraints - Time constraints, budget limitations, client demands,... 1.5 Alternative analysis - Achieve a clear understand of the problem; generate and evaluate alternative solutions. 1.6 Project objectives - Conceptual development concludes with a clear statement of the final objectives for the project in terms of outputs, required resources, and timing.

What is included in the scope statement?

2.1 Establish project goals,including: a. cost b. schedule c. performance d. deliverables (any measurable, tangible, verifiable outcome, result, or item that must be produced to complete a project or part of a project). e. review and approval "gates" (when the project is evaluated and decisions about the next steps are made) 2.2 Develop the management plan for project 2.3 Establish a Work Breakdown Structure 2.4 Create a scope baseline 2.5 Define a Responsibility Assignment Matrix

A project typically has: A) A defined start and end date. B) A defined start date but no defined end date C) No defined start but a defined end date. D) No defined start or end date.

A) A defined start and end date.

Which of these factors are essentially complete opposites from an intensity perspective across the project life cycle? A) Client Interest and Resources B) Creativity and Resources C) Resources and Project Stake D) Project Stake and Client Interest

A) Client Interest and Resources

A design project is completed on time, under budget, to the customer's satisfaction, and in adherence to the technical specifications agreed. The new product takes the market by storm and everyone associated with the project receives a coveted gold star. Under the four dimensions of project success model, the project still needs to show: A) Future potential. B) Business success. C) Impact on the customer. D) Efficiency.

A) Future potential.

External stakeholders that are external to a project but possess the power to effectively disrupt the project's development are: A) Intervenor groups. B) Environmental groups. C) Stressor groups. D) Special-interest groups.

A) Intervenor groups.

Individuals are commonly organized into departments for all of the following reasons EXCEPT: A) Seniority. B) Function. C) Product. D) Geography

A) Seniority.

The first step of the process applied to stakeholder management is to: A) Assess your own capabilities. B) Assess the environment. C) Identify the goals of the principal actors. D) Define the problem.

B) Assess the environment.

Which of the following statements about project success criteria is BEST? A) Project cost is an external performance measure. B) Completion time is an internal performance measure. C) Client acceptance is an internal performance measure. D) Client acceptance is often referred to as conducting a "quality" check.

B) Completion time is an internal performance measure.

Which statement about organization for project management is BEST? A) The overall structure of the organization specifies how project team members should communicate with the project manager. B) The internal project team structure specifies the arrangement of all units or interest groups participating in the development of the project. C) Two distinct organizational structures operate simultaneously within the project management context: the organizational structure and the project team structure. D) All of these statements are correct.

B) The internal project team structure specifies the arrangement of all units or interest groups participating in the development of the project.

A project manager names three individuals and requests a project budget of €3,000,000 for the development of a new product. This important step takes place during ___ of the project life cycle. A) planning B) conceptualization C) execution D) Termination

B) conceptualization

The dimension of project success that is realized first (chronologically) is: A) Future potential. B) Business success. C) Impact on the customer. D) Efficiency.

D) Efficiency.

What does the element business case mean?

Business case - It is the organization's justification for committing to the project. It should (1) demonstrate the business need for a given project, (2) confirm the project is feasible, (3) assess and compare the project over other courses of action, and (4) provide time estimates for cash flows.

A project that results in "doing the wrong things well" has ignored the: A) Budgetary goal. B) Technical goal. C) Customer satisfaction goal. D) Scheduling goal.

C) Customer satisfaction goal.

Which of the following is an internal project stakeholder group? A) Clients B) Suppliers C) Functional managers D) Competitors

C) Functional managers

All major decisions and authority are under the control of the project manager in a: A) Matrix structure. B) Functional structure. C) Project structure. D) Process structure.

C) Project structure.

The management department at the university decides to add a new program in restaurant, hotel, and institutional management. As part of the development process they hold focus groups consisting of area business leaders, current and former students, and restaurant and hotel owners. These groups can be described as: A) Project leaders. B) Project workers. C) Stakeholders. D) Clients.

C) Stakeholders.

Span of control refers to: A) The number of departments involved in a project. B) The number of days that the project manager is allowed to complete the project. C) The number of employees one person supervises. D) The number of levels from top to bottom in an organization.

C) The number of employees one person supervises.

What are control systems used for?

Control systems are vital to ensure that any changes to the project baseline are conducted in a systematic and thorough manner. Baseline is defined as: The project's scope fixed at a specific point in time.

What might change during the project's life cycle?

Client interest: The level of concern expressed by the project customer. Project stake: It is the amount of corporate investment in the project. Resources: The commitment of financial, human, and technical resources over the life of the project. Creativity: The degree of innovation required by the project. Uncertainty: The degree of uncertainty and risk associated with the project.

What is the definition of conceptual development?

Conceptual development is the process that addresses project objectives by finding the best ways to meet them.

One of the things that the technical side of project management emphasizes is: A) Team building. B) Conflict management. C) Negotiation (förhandling/kompromiss) D) Budgeting.

D) Budgeting.

A strategic perspective on project management might ask all of the following questions pertaining to organizational setting prior to undertaking a project EXCEPT: A) What is our corporate mission? B) Does this project support the company vision? C) Do we have established reporting relationships? D) Can we complete the project on time?

D) Can we complete the project on time?

The most recent addition to the four criteria of project success is: A) Time. B) Cost. C) Performance. D) Client acceptance.

D) Client acceptance.

A matrix organization for project management has a distinct advantage because: A) Dual hierarchies mean two bosses. B) A significant amount of time is spent negotiating the sharing of critical resources. C) Workers must reconcile competing project and functional demands. D) Project importance is enhanced by setting authority equal to that of functional departments.

D) Project importance is enhanced by setting authority equal to that of functional departments.

The tendency of employees in a functionally organized company to become fixated on their own concerns and work assignments to the exclusion of the needs of other departments is known as: A) Layering. B) Myopia. C) Nepotism. D) Siloing.

D) Siloing.

Studies of IT projects reveal that: A) Initial cost estimates are overrun by an average of 15%. B) Over 66% of IT projects were delivered to customers but not used. C) About 25% of all IT projects become runaways by overshooting budgets and timetables. D) Software and/or hardware projects fail at a rate of 65%.

D) Software and/or hardware projects fail at a rate of 65%.

The MBA redesign committee presents the results of their five-year project to their Dean. They are in the: A) Planning phase. B) Conceptualization phase. C) Execution phase. D) Termination phase.

D) Termination phase.

The amount of corporate investment is typically at its highest in the: A) Conceptualization phase. B) Planning phase. C) Execution phase. D) Termination phase.

D) Termination phase.

The technical challenges that the project has to face are typically at their lowest during the: A) Conceptualization phase. B) Planning phase. C) Execution phase. D) Termination phase.

D) Termination phase.

What is the conceptualization phase in the project life cycle?

Development of the initial goal and technical specifications of the project. Key stakeholders are identified and signed on at this phase.

What is the definition of external clients?

External clients - work authorization typically involves contractual obligations, which are formally established in specific contractual documentation.

Your company is planning to construct a nuclear power plant in Oregon. Why is stakeholder analysis important as a precondition of the decision of whether or not to follow through with such a plan? Conduct a stakeholder analysis for a planned upgrade to a successful software product. Who are the key stakeholders?

In the case of building a nuclear plant, stakeholders can not only cause disruptions in the planning and construction, but can altogether block the project from being completed. Very powerful government, environmental, legal, and community stakeholders may intervene in the creation of the plant. Performing a stakeholder analysis could identify potential obstacles and stakeholder objections to building the plant. By identifying these obstacles in advance, it may be possible to prevent them. If prevention is not possible, assessing them beforehand may allow management time to create an alternate plan prior to resources being invested in the current project.

Your company is planning to upgrade a key piece of software that is used daily across the organization. Identify the potential stakeholders for this project and discuss some of the reasons why these stakeholders might influence the success of the project.

Key stakeholders in a software upgrade would include suppliers, competitors, project team members, top and functional management and clients. Suppliers of the software would be influential in successful implementation and maintenance of the system. In the event of a successful implementation, competitors would be affected by potential loss of market share. In the event of a failure, competitors would not only possibly gain new business, but may also learn from the shortcomings of the project and avoid such mistakes for themselves. Project team members would have a direct impact on the success of the upgrade and as such would also stand to reap benefits or detriments from the outcome. Top management may be evaluated on the outcome of the project and may feel significant pressure to see that the project is a success. Ultimately, clients would stand to gain from a successful implementation in the areas of faster transactions or better service, etc. (depending on the type of software).

What does Operations Management mean?

Operations & Operations management (OM) are the set of organizational activities that create value in the form of goods and services by transforming inputs into outputs.

What's the differences between process and project management?

Process: * Repeat process or product * Several objectives * Ongoing * People are homogenous * Well-established systems * Greater certainty * Part of line organization * Established practices * Supports status quo Project * New process or product * One objective * One-shot-limited life * More heterogeneous * Integrated system efforts * Greater uncertainty * Outside of the line organization * Violates established practice * Upsets status quo

What are the four important dimensions for project success?

Project efficiency: Meeting budget and schedule expectations. Impact on customer: Meeting technical specifications, addressing customer needs, and creating a project that satisfies the client's needs. Business success: Determining whether the project achieved significant commercial success. Preparing for the future: Determining whether the project opened new markets or new product lines or helped to develop new technology.

What does Project Management mean?

Project management (PM) is the means through which to achieve the project challenges. PM has become a critical component of successful business operations in worldwide organizations.

What is the definition of project stakeholders?

Project stakeholders are defined as all individuals or groups who have an active stake in the project and can potentially impact, either positively or negatively, its development.

What is the definition of scope reporting?

Scope reporting determines what types of information reported, who receives copies, and when and how information is acquired and disseminated.

What does external stakeholders mean?

Some external stakeholder groups operate in manners that are challenging or even hostile to project development. * Clients The focus of project managers will be on maintaining and enhancing client relationships. Ex: meeting plans, flexibility to specification changes... * Competitors Competitors can be affected by the implementation of a project. And competitors projects can force project team to alter, delay, or even abandon its project. * Suppliers Any group that provides the raw materials or other resources the project needs. * Intervener groups Environmental, political, social, community-activist, or consumer groups that can have a positive or negative effect on the project's development are referred to as intervenor groups. They may have the power to suspend, reduce, or even cancel projects.

What is the formal name of doing a stakeholder analysis?

Stakeholder management

What does the element statement of work (SOW) mean?

Statement of Work (SOW) - A SOW is a detailed narrative description of the work required for a project. The purpose of the SOW is to give the project organization and the project manager specific guidance on both work requirements and the outcomes.

What is Strategic management?

Strategic management—the science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

What strengths and weaknesses exist within functional structure?

Strengths for functional structure: 1. Projects developed within basic functional structure require no disruption or change to firm's design. 2. Enables development of in-depth knowledge and intellectual capital. 3. Allows for standard career paths. Weaknesses for functional structure: 1. Functional siloing makes it difficult to achieve cross-functional cooperation. 2. Lack of customer focus. 3. Longer time ti complete projects. 4. Varying interest or commitment

What strengths and weaknesses exist within project structures?

Strengths for project structures: 1. Project manager sole authority 2. Improved communication 3. Effective decision making 4. Creation of project management experts 5. Rapid response to market opportunities Weaknesses for project structures: 1. Expensive to set up and maintain teams 2. Inefficient use of resources 3. Difficult to maintain a pooled supply of intellectual capital 4. Team member concern about future once project ends.

What strengths and weaknesses exist within Matrix structures?

Strengths within matrix structures: 1. Suited to dynamic environments 2. Equal emphasis on project management and functional efficiency 3. Promotes coordination across functional units 4. Maximizes efficient use of scarce resources Weaknesses within matrix structures: 1. Dual hierarchies mean two bosses 2. Workers caught between project requirements and functional demands 3. Negotiation required in order to share resources.

What is the logic in the work breakdown structure?

The figure illustrates a partial WBS, showing a few of the deliverables and work packages or task. • The logic of WBS consists of breaking the project into its component pieces. The first level identifies the overall project. Underneath this level are the major deliverables (e.g., 1.2, 1.3, etc.) that support the completion of the project. • The bottom level includes the tasks, activities or work packages that must be completed to conclude the project deliverables. • One owner - Task is assigned to only one team member. Although other team members can provide support as needed, only one person should be directly responsible for the task. • Tasks may be expressed in terms of labor hours, calendar time, and cost

What does the management plan consist of?

The management plan for projects consists of the organizational structure for the project team, its policies and procedures, and job descriptions.

What is the definition of scope statement?

The scope statement is the central piece of scope management. It reflects the definition and approval of all important project parameters prior to proceeding to the development phase.

What are the quadruple (the four) constraints of achieving project success?

Time: Projects are constrained by a specified period of time during which they must be completed. Budget: Projects must meet budgeted allowances in order to use resources as efficiently as possible. Performance: All projects are developed in order to adhere to some initially determined technical specifications. Client acceptance: Projects are developed with clients in mind, and their purpose is to satisfy customers' needs.

What are some types of control systems?

Types of Control Systems: · Configuration control · Design control · Trend monitoring · Document control · Acquisition control · Specification control

What does internal stakeholders mean?

Usually, the impact of Internal stakeholders on the project is relatively positive. That is because most of the internal stakeholders want to see the project developed successfully. • Top management Top management authorizes the development of the project and regulates project managers' freedom of action. • Accountant Accountants support and actively monitor project budgets, and as such they are sometimes wrongly perceived as the "enemy" by project managers. • Other functional managers Functional managers consist of an important stakeholder group to consider. Ex: as projects are staffed by individuals (part-time) from functional departments, they may still have to perform their functional responsibilities which can create confusion and conflict. • Project team members The project team has a tremendous impact in the project's outcome.Project's success depends on the commitment and productivity of each member of the project team.

What is Project organizational structure?

Within the project management context, two distinct structures operate simultaneously, and both affect the manner in which the project is accomplished. * The overall structure of the organization that is developing the project - It includes the project team, the client, top management, functional departments, and other relevant internal stakeholders. * The internal structure of the project team - it specifies the relationship between members of the project team, their roles and responsibilities, and their interaction with the project

What is the control system configuration control?

· Configuration control - includes procedures that monitor emerging project scope against the original baseline scope.

What is the control system document control?

· Document control - ensures that important documentation is compiled and disseminated in an orderly and timely fashion.

What does a project stakeholder analysis consists of?

· It consists of identifying the project stakeholders, their impact on the project, and, if necessary, managing it for positive results. · Project management should find ways to balance conflict demands and still maintain supportive and constructive relationships with each important stakeholder group

What is the responsibility assignment matrix built for?

• A Responsibility Assignment Matrix is build not only to identify the team member who will be directly responsible for each task, but also the other significant members of the team at each stage. • The RAM may identify whom each (responsible) person is that you can ask for task support, who should be notified of the task completion status, and who of which can approve task outcomes.