Chapter 1 – Project Management: The Managerial Process, 6/e

Program
A ______ is a group of related projects designed to accomplish a common goal over an extended period of time.
Project
A complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs; A ______ is a temporary endeavor undertaken to create a unique product, service, or result.
Project life cycle
The stages found in all projects— definition, planning, execution, and delivery.
Project Management Professional
An individual who has met specific education and experience requirements set forth by the Project Management Institute, has agreed to adhere to a code of professional conduct, and has passed an examination designed to objectively assess and measure project management knowledge.
Has an established objective.
Has a defined life span with a beginning and an end.
Requires across-the-organizational participation.
Involves doing something never been done before.
Has specific time, cost, and performance requirements.
Name the characteristics of a project (5).
Program
A series of coordinated, related, multiple projects that continue over an extended time and are intended to achieve a goal. A higher level group of projects targeted at a common goal.
Defining, Planning, Executing, Closure
Name the four steps of the project life cycle.
Project Manager
Manages temporary, non-repetitive activities and frequently acts independently of the formal organization.
Marshals resources for the project.
Is linked directly to the customer interface.
Provides direction, coordination, and integration to the project team.
Is responsible for performance and success of the project.
Must induce the right people at the right time to address the right issues and make the right decisions.
Compression of the product life cycle
Knowledge explosion
Triple bottom line (planet, people, profit)
Corporate downsizing
Increased customer focus
Small projects represent big problems
Name the factors leading to the increased usage of project management (6).
An overview of all project management activities
A big picture of how organizational resources are used
A risk assessment of their portfolio of projects
A rough metric of the firm’s improvement in managing projects relative to others in the industry
Linkages of senior management with actual project execution management
What does Integration (or centralization) of project management provides senior management with (5)?
Do not tie together the overall strategies of the firm.
Fail to prioritize selection of projects by their importance of their contribution to the firm.
Are not integrated throughout the project life cycle.
Do not match project planning and controls with organizational culture to make appropriate adjustments in support of project endeavors.
Problems resulting from the use of piecemeal project management systems (4) include:
Oversee project selection.
Monitor aggregate resource levels and skills.
Encourage use of best practices.
Balance projects in the portfolio in order to represent a risk level appropriate to the organization.
Improve communication among all stakeholders.
Create a total organization perspective that goes beyond silo thinking.
Improve overall management of projects over time.
What are the major functions of portfolio management (6)?
Sociocultural and Technical
What are two dimensions of the project management process?
Sociotechnical perspective
The first dimension is the technical side of the management process, which consists of the formal, disciplined, purely logical parts of the process. The second dimension involves the much messier, often contradictory and paradoxical world of implementation.
ISO 9000 Series
Is a set of international standards for quality management and quality assurance. The standards were developed to help companies effectively document the elements they need to maintain an efficient quality system. They are not specific to any one industry.