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28 Cards in this Set
- Front
- Back
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Project management vs Portfolio Management |
Doing the projects right vs doing the right projects |
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What is a project? |
A temporary endeavor undertaken to create a unique product, service, or result |
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PM Process Order |
Initiating Planning Executing Monitoring & Controlling Closing |
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Knowledge Groups of PM |
Project Management Integration Project Scope Integration Project Time Management Project Cost Management Project Quality Management Project Human Resource Management Project Communication Management Project Risk Management Project Procurement Management |
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Three Project Goals? |
Performance / Scope Time Cost |
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Over determined Project |
Too many "High Priorities" |
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S Curve |
Slow start Quick momentum Slow end |
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J Curve |
Slow start Quick end |
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Four Actions Associated with Inadequate Portfolio Management |
Reluctance to kill projects Weak decision points No rigorous selection criteria No strategic criteria for project selection |
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Number of Communication Paths |
((N - 1) * N ) / 2 e.g. 5 people = 10 paths |
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Four Roles in RACI Matrix |
Responsible Accountable Consult Inform |
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How many Accountables? How many Responsibles? |
1 Accountable Responsibility can be shared |
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When consulted? When informed? |
C: Before final decision or action I: After a decision or action is taken |
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Who should be invited to a meeting (according to GE)? |
Only those necessary |
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How to deal with off topic issues within a meeting? |
Parking lot |
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Four Steps to Persuasion |
Must be credible Find common goals Use vivid language Connect with emotion |
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Three Primary Project Management Organizational Structures |
Functional Matrix Projectized |
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Whattype of solution will decision makers choose in place of the best solution? |
Acceptable or reasonable |
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What level of performance do decision makers seek in asolution? |
Satisfice |
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What is the term for the simplifying strategies used bydecision makers? |
Heuristics |
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Regression to the mean |
Individuals tend to ignore thefact that extreme events tend to regress to the mean on subsequent trials. |
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Overconfidence bias |
Individuals tent to beoverconfident of the infallibility of their judgments when answering moderatelyto extremely difficult questions. |
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Confirmation Trap bias |
Individuals tend to seeksupportive information confirming what they think is true and neglect thesearch for opposing evidence. |
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Two Extremes of Planning |
Ready, Fire, Aim Analysis Paralysis |
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Project Plan's Primary Function |
"The primary function of a projectplan is to serve the PM as a map of the route from project start to finish." |
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Who is the project master plan intended for? |
Senior Management |
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Who issues the project charter? |
Issued by the Champion |
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What question should be asked when a change is made to theProject Charter? |
Should the project continue? |
