1 - PMP Fundamental Terms

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1 - PMP Fundamental Terms
Daniel Gomez-Windshuttle
Flashcards by Daniel Gomez-Windshuttle, updated more than 1 year ago
Daniel Gomez-Windshuttle
Created by Daniel Gomez-Windshuttle about 7 years ago
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Deliverables A product, service, or result created by a project. Projects can have multiple deliverables.
General Management Skills Include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.
International & Political Environment The consideration of the local and international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress.
Interpersonal Skills Being able to: - lead - interact - motivate - manage people
Iron Triangle of Project Management Time, cost, and scope each constitute one side of the triangle; if any side of the Iron Triangle is not in balance with the other sides, the project will suffer. AKA Triple Constraints of Project Management, as all projects are constrained by time, cost, and scope.
Program A collection of related projects working in unison toward a common deliverable.
Progressive Elaboration Process of gathering project details. Uses deductive reasoning, logic, and a series of information-gathering techniques to identify details about a project, product, or solution.
Project A temporary endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable.
Project Benefits Management Plan Defines - what benefits the project will create - when the benefits will be realized - how the benefits will be measured Created by the project sponsor and PM
Project business case Shows the financial validity of why a project is chartered and launched within the organization. Typically created before the launch of the project and may be used as a go/no-go decision point. Created and maintained by the project sponsor.
Project Life Cycle The phases that make up the project. Project life cycles are unique to the type of work being performed and are not universal to all projects.
Project management office (PMO) Central office that oversees all projects within an organization or within a functional department. PMO supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.
Project portfolio management The management and selection of projects that support an organization’s vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process.
Work performance data Raw data, observations, and measurements about project components. Work performance data is gathered and stored in the project management information system.
Work performance information½ Work performance information is the processed and analyzed data that will help the project manager make project decisions.
Work performance reports Formatted communication of work performance information. Work performance reports communicate what’s happening in the project through status reports, memos, dashboards, or other modalities.
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