1 Project Management Foundations Free Online FlashCards

What defines a project?

A project is a temporary, organized effort with a beginning and end that creates a distinct product, service, or result.

How do projects differ from operations?

Operations are ongoing activities that sustain an organization; projects are temporary efforts that create a distinct result.

What is project management?

Project management applies knowledge, skills, tools, and techniques to project activities to achieve intended objectives and value while balancing constraints.

What is a program in project management?

A program coordinates related work to achieve broader benefits.

What is a portfolio in project management?

A portfolio groups and prioritizes initiatives to support organizational strategy.

What is a project life cycle?

A project life cycle is the sequence of phases a project passes through from start to completion.

What are the four broad activities in a simple project life cycle?

A simple life cycle includes initiation, planning, delivery, and closure.

How does a delivery approach differ from a project life cycle?

A life cycle describes how work is organized over time; a delivery approach describes how the solution is developed and delivered.

When is a predictive delivery approach useful?

A predictive approach defines much of the work in advance and is useful when requirements are stable and major changes are costly.

When can an adaptive delivery approach be helpful?

An adaptive approach develops a solution through repeated feedback and adjustment, which can help when needs are uncertain or likely to evolve.

What is project governance?

Project governance is the framework of roles, decision rights, and processes that directs and oversees a project.

What is the sponsor’s core responsibility?

The sponsor or senior responsible owner provides senior-level direction and accountability for the project’s rationale, continued justification, and intended outcomes.