The Standard for Project Management (Lesson 1))

What is the definition of value?

The worth, importance or usefulness of something ()high quality at a low cost

What are the most important values to the project management community?

Responsibility, Respect, Fairness, and Honesty

What is the definition of a project?

A temporary effort to create value through a unique product, services or result

What is project management?

Application of knowledge, skills, tools and techniques to project activities to meet the project requirements

Project management is the practice of what three things tasks to turn a brilliant idea into a tangible product, service or deliverable.

Planning, organizing and executing

What is a project manager?

Organized, goal oriented professional who uses innovation, creativity and collaboration to lead projects that make an impact

What are some project management skills

• Leadership and Adaptability

• Organization and Time Management

• Creative Problem Solving

• Motivation and Team Management

What is the purpose of the standard (what is expected) for project management?

It provides basis for project management and how it enables intended outcomes (product, services, values)

What does the standard (what is expected) for project manger apply to?

To any industry, project location, project size, or delivery approach

_____ is important for information flow.

Communication

The project environment has what two major environments?

Internal environment and External environment

What is an internal environment?

An organizations strengths (anything positive) or weaknesses (anything negative)

What are other aspects of the internal environment?

Safety, leadership

What is an external environment?

Represents threats or opportunities to the organization

What are examples of the external environment?

Market place competition, Social and cultural influences, commercial databases, physical environment

What is the framework to analyze the external environment

Political factors

Economic factors

Social and cultural factors
Technological factors
Environmental factors (physical environment)

Legal factors

What are the marketplace conditions of the project environment?

Level of competition and industry standards