Information Technology Project Management

Flashcards from Information Technology Project Management Lecture Notes.

What elements are required in Information Technology (IT) projects?

Information Technology projects are organizational investments that require time, money, and other resources.

Deliverables

are tangible, verifiable work products, such as Reports, presentations, prototypes, etc.

What elements are required in Information Technology (IT) projects?

Information Technology projects are organizational investments that require time, money, and other resources.

According to the PMBOK® Guide, what is a project?

A temporary endeavor undertaken to create a unique product, service, or result.

According to the PMBOK® Guide, what is a project manager?

The person assigned by the performing organization to achieve the project objectives.

What are the attributes of a project?

Time Frame, Purpose, Ownership, Resources, Roles, Risk & Assumptions, Interdependent Tasks, Planned Organizational Change, Operate in Environments Larger than the Project Itself

Name a common role fulfilled on an IT Project

Project Manager, Project Sponsor, Subject Matter Expert (SME), Technical Expert (TE)

What is a Project Portfolio?

A collection of diverse projects managed collectively to align with the organization’s strategy and overall plan to achieve competitive advantage.

What is a Program in Project Management?

A collection of projects within a project portfolio whose activities are coordinated so that the benefits of the program are great than the sum of the benefits of the individual projects.

What is Project Management?

The application of knowledge, skills, tools and techniques to project activities to meet project requirements.

What are four categories that contribute to project failure?

People, Processes, Technology, Organization

Name an approach to improve the likelihood of project success.

A Value-Driven Approach, Socio-technical Approach, Project Management Approach, Knowledge Management Approach

What is a Project Methodology?

A strategic-level plan for managing and controlling the project.

What is the Project Life Cycle (PLC)?

A collection of logical stages or phases that maps the life of a project from its beginning, through its middle, to its end, to define, build, and deliver the product.

What are common decision points in a project?

Phase Exits (approved), Stage Gates (proceed or not), Kill points (not worth completing).

What is Fast Tracking?

Starting the next phase of a project before approval is obtained for the current phase.

Name a Project Management Knowledge Area from the PMBOK® Guide.

Project Integration Management, Project Scope Management, Project Time Management, Project Cost Management, Project Quality Management, Project Human Resource Management, Project Communications Management, Project Risk Management, Project Procurement Management, Project Stakeholder Management

What are the five PMBOK® Project Management Process Groups?

Initiating, Planning, Executing, Monitoring and Controlling, Closing

Name a PRINCE2® Process.

Start Project, Initiate Project, Direct Project, Control Stage, Manage Product Delivery, Manage Stage Boundaries, Close Project

Name a PRINCE2® Theme.

Business Case, Organization, Risk, Quality, Planning, Change, Progress

Name a PRINCE2® Principle.

Business Case Driven, Product Focus, Lessons Learned, Manage the Stage, Adapt to the Project, Manage by Exception, Accountability

What are the stages of the Systems Development Life Cycle (SDLC)?

Planning, Analysis, Design, Implementation, Maintenance and Support

Name one way to implement the SDLC:

Waterfall and Agile

What is Agile Systems Development?

Condenses the SDLC into an iteration or sprint, emphasizing working software and face-to-face communication.

What are the four themes or categories of Agile Systems Development?

Customer, Product, Project Team, Performance

Name a role in Scrum as an Agile Method

Scrum master, product owner, development team

What are the steps in a Learning Cycle?

Understand & frame the problem, Plan, Act, Reflect & learn.

Give an example of Measurable Organizational Value (MOV).

Increase awareness for healthy living by having 250 new subscribers sign up for a weekly newsletter within 6 months.

Name a potential area of impact to identify in developing a MOV

Customer, Strategic, Financial, Operational, Social

What is a Business case?

an analysis of the organizational value, feasibility, costs, benefits, and risks of several proposed alternatives or options.

What are the steps in developing a Business Case?

Define Measurable Organizational Value (MOV), Form a Cross-Functional Business Case Team, Identify Alternatives, Define Feasibility and Assess Risk, Define Total Cost of Ownership, Define Total Benefits of Ownership, Analyze alternatives, Propose and Support the Recommendation

Formula for the Payback Period

Payback Period = Initial Investment / Net Cash Flow

Formula for the Breakeven Point

Breakeven Point = Initial Investment / Net Profit Margin

Formula for Return on Investment (ROI)

Project ROI = (Total Expected Benefits – Total Expected Costs) / Total Expected Costs

Describe the IT Project Selection Process and Decision

The project must align with the organization’s values, vision, mission, and strategies and the project must provide MOV that can be verified at the completion of the project.

What is answered in the Project Planning Phase?

Attempts to answer questions such as: What work needs to be done? Who will do the work? What resources will be needed? When will they do the work? How long will it take? How much will it cost?

What are the aspects of the Project Infrastructure?

Governance, MOV, Project Objectives, Resources

What is Project Governance?

Provides a framework to ensure that a project aligns with a chosen business strategy while ensuring that the time, money, and resources provide real value to the organization.

What roles does the Project Manager fill?

Managerial role and Leadership role

Name an organizational structure that a project might utilize

Formal, Project-Based, Matrix

What are the types of Project Outsourcing?

Full Insourcing, Selective Outsourcing, Full Outsourcing

What are the general categories for Procurement-type Contracts?

Fixed-Price/Lump-Sum, Cost-Reimbursable, Time and Materials (T&M)

What is the purpose of the Project Charter?

Documents the project’s MOV, Defines the project’s infrastructure, Summarizes the details of the project plan, Defines the project’s governance structure, Shows explicit commitment to the project

What is Scope?

Defines the work boundaries and deliverables of the project so what needs to get done, gets done – and only what needs to get done, gets done; is determined directly by the project’s MOV

What is a Work Breakdown Structure (WBS)?

A project management tool that provides a hierarchical structure that acts as a bridge, or link, between the project’s scope and the detailed project plan that will be created.

What are the Scope Management Processes?

Plan Scope Management, Collect Requirements, Define Scope, Create the Work Breakdown Structure, Validate Scope, Control Scope

What is the purpose of a Statement of Work?

Narrative description of the product, service, or information system.

What are potential issues in controlling scope?

Scope Grope, Scope Creep, Scope Leap

What are Deliverables?

Tangible, verifiable work products, such as Reports, presentations, prototypes, etc.

What are Milestones?

Significant events or achievements, such as Acceptance of deliverables or phase completion

Name a traditional Project Management estimation technique.

Guesstimating, Delphi Technique, Time Boxing, Top-Down, Bottom-Up, Poker Planning