Project Management Chapter 4

developing project charter

working with stakeholders to create the document that formally authorizes a project

developing project management plan

coordinating all planning efforts to create a consistent, coherent document

directing and managing project work

carrying out the project management plan by performing the activities included in it

managing project knowledge

using existing knowledge and creating new knowledge to achieve project objectives while also contributing to organizational learning

monitoring and controlling project work

overseeing activities to meet the performance objectives of the project

performing integrated change control

identifying, evaluating, and managing changes throughout the project life cycle

closing the project or phase

finalizing all activities to formally close the project or phase

interface management

identifying and managing the points of interaction between various elements of a project

true

Project integration management must occur within the context of the entire organization, not just within a particular project

• T or F

true

Project managers must always view their projects in the context of the changing needs of their organizations and respond to requests from top management

• T or F

SWOT analysis

one tool used in strategic planning

mind mapping

a technique that uses branches radiating from a core idea to structure thoughts and ideas

true

It is very important to have managers from outside the IT department as they can help IT personnel understand organizational strategies and identify the business areas that support them

• T or F

true

IT strategy must align with the organization's strategic plans supporting explicit business objectives is the top reason cited for why organizations invest in IT projects

• T or F

problems

undesirable situations that prevent an organization from achieving its goals; can be current or anticipated

opportunities

chances to improve the organization

directives

new requirements imposed by management, government, or some external influence

NPV

- a method of calculating the expected net monetary gain or loss from a project by calculating the value of all expected future cash inflows and outflows at the present time

- a method for making equal comparisons between cash flows for multiyear projects

project charter

a document that formally recognizes the existence of a project and provides direction on the project's objectives and management

project charter

key output of the initiation process

agreements

- under contract

- , many contracts are difficult to read and can often change, so it is still a good idea to create a project charter

the charter itself and an assumption log

two outputs of the process to develop a project charter

1. explicit knowledge

2. tacit knowledge

two basic types of knowledge

explicit knowledge

- can be easily explained using words, pictures, or numbers and is easy to communicate, store, and distribute

- example: textbook and encyclopedias as well as project documents and plans

tacit knowledge

- is difficult to express and is highly personal (sometimes called informal knowledge)

- example: beliefs, insight, and experience

- passed on through mentorships, communities of practice, or workshops

closing the project or phase

finalize all activities and transfer the completed or cancelled work to the appropriate people

expert judgment, data analysis, and meetings

main tools in closing the project or phase