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PMBOK 7
The Standard for Project Management
PMBOK 7
The Standard for Project Management
presents 12 principles that anyone leading projects should be able to live by
Stewardship
Be a diligent, respectful, and caring steward.
Team
Create a collaborative team environment.
Stakeholders
Effectively engage with stakeholders.
Value
Focus on value.
Systems thinking
Recognize, evaluate, and respond to the system interactions.
Leadership
Demonstrate leadership behaviors to support individual and team needs.
Tailoring
Tailor based on context.
Quality
Build quality into processes and products (deliverables).
Complexity
Navigate complexity.
Risk
Optimize risk response.
adaptability and resiliency.
Embrace adaptability and resiliency.
Change
Enable change to achieve the envisioned future state.
Responsibility
The duty to take ownership of the decisions made or failed to make as a practitioner, the actions you take or fail to take, and the consequences that result.
Respect
is the duty to show a high regard for yourself, others, and the resources entrusted to you. Resources entrusted to you may include people, money, reputation, the safety of others, and natural and environmental resources. An environment of respect engenders trust, confidence, and performance excellence by fostering cooperation and an environment where diverse perspectives and views are encouraged and valued.
Fairness
is your duty to make decisions and act impartially and objectively. Your conduct must be free from competing self-interest, prejudice, and favoritism.
Honesty
is your duty to understand the truth and act in a truthful manner both in your communications and in your conduct.
project
temporary endeavor with a specified start and end date. It exists to develop a unique product, service, or result that may become a part of the organization's ongoing operations
Operations
are the ongoing, daily activities of an organization that produce revenue and expense. They continue over an indefinite period of time, creating business transactions and delivering products and services that generate revenue.
Operations
the ongoing, day-to-day activities that a company, a not-for-profit, or a government entity engages in.
Operations
There is not a specifically defined start date, there is no specifically defined end date, and there is no unique product, service, or result as an output
A product
anything that's created and offered to meet a need or solve a problem for a customer
business scenario
description of a business situation or problem that describes the following:
past events that are relevant
current key information
expected or desired outcomes
A business scenario
is representative of a significant business need or problem and enables vendors to understand the value to the customer organization of a developed solution
business strategy
is the overall plan an organization uses to achieve its goals and improve its value.
example of business strategy
activities, methods, and tactics a company chooses
Subject matter experts (SMEs)
are individuals within an organization who have specialized knowledge, skills, and experience in a specific area.
example of subject matter expert (SME)
software engineer, marketing specialist
A program
is a group of projects that support the goals and objectives of the company; it may be established and is a group of related projects
example of a project
Developing a more efficient engine for the new full-size passenger car.
A portfolio
is a group of related programs that support a long-term company goal or objective.
charter i
is a document that, like a contract, is agreed upon by the sponsor and key stakeholders. It defines the project and authorizes the resources, roles, responsibilities, authorities, and scope for the project.
example of a charter
A company wants to develop a new electric car battery.
Defining
project charter is created to officially start the project and give it direction.
example of defining
A company decides to launch a new mobile app.
Project planning
is the phase where a team outlines how a project will be carried out by organizing key elements such as technology, staffing, training, testing, communication, budget, and how the project will integrate with business operations.
project management planning phase examples
technology
business process
staffing
training
testing
communications
budget constraints
integration of the project with operations and other projects
Project execution
is the phase where the project plan is carried out by completing tasks and deliverables, while the project manager monitors progress, manages changes, and ensures the work stays aligned with the schedule, budget, and goals despite challenges or risks.
Project execution example
is when a team completes project tasks and deliverables while the project manager monitors progress and handles any changes or issues that arise.
Project closing
is the final phase where a project is completed or officially ended, deliverables are handed over, success is reviewed, and lessons learned are documented.
project closing example
A company finishes building and launching a new website, gets approval from the client, hands over all files and documentation, and reviews what went well and what could be improved.
Specific
Exactly what are you attempting to achieve?
Measurable
Can you assign a number? Is the result quantifiable?
Attainable (or Achievable)
Is this possible with the resources (including financial) and technology available?
Relevant
Does it make sense? Does it fit with the organization's strategic goals?
Time-based (or Timely)
Is there a date when it needs to be completed?
example of specific in smart
A specified fuel economy objective was identified.
example of measurable in smart
A number (miles per gallon or mpg) is identified for fuel economy.
example of achievable in smart
The desired mpg is achievable with technology that is, or will be, available.
example of relevant in smart
Customers desire more fuel economy
example of time based in smart
A date for manufacture of new vehicles was identified
the challenges of project management
lack of clearly defined project scope, objectives, and charter
lack of clear and direct strategic alignment with the specific project underway
customer needs and requirements not properly understood or defined
project change management process not well defined and/or followed, resulting in
expanding scope of the project
potentially jeopardizing the successful achievement of the project objectives
lack of project integration
inadequate project management training, skills, and experience
shifting management and organizational priorities adversely impacting ongoing projects
changes to the organization's long-term strategic plans
lack of comprehensive project risk management and mitigation
company culture and organizational structure that does not properly support project management
poorly defined and/or implemented communications management plan
Key Motivators to Adopt Project Management
controlling costs
improving productivity
achieving business results
definite
Projects have a(n) ____ start and end date.
B. The price of oil is at a five-year high and is expected to continue to rise.
D. New technology can provide smaller batteries that can be recharged by movement of the mobile device, extending battery life.
Which of the following are business scenarios?Choose all that apply.
A. The price of oil is at a five-year high.
B. The price of oil is at a five-year high and is expected to continue to rise.
C. New battery technology has been developed.
D. New technology can provide smaller batteries that can be recharged by movement of the mobile device, extending battery life.
strategy
Projects selected by an organization must be directly related to the organization's ____.
Meeting scope, budget, and schedule
What are the objectives of project management?
a. Meeting scope, budget, and schedule
b. Making sure the guilty are blamed for a problem
c. Maximizing bonuses for successful project completion
d. Completing the project regardless of whether it aligns with company strategy
SMART (specific, measurable, achievable, relevant, and timed) goals
Which criteria should a successful project meet?
a. Overall objectives of the project, regardless of time taken or budget needed
b. SMART (specific, measurable, achievable, relevant, and timed) goals
c. Maximizing company profits by taking needed risks
d. Completing the project regardless of whether it aligns with company strategy
Project management
the act of managing a project and encompasses the use of knowledge, skills, tools, and techniques to ensure that the project meets its goals.
project managers skills set
negotiation
conflict resolution
communication
written
verbal
prioritization
budgeting
money
time
The project manager (PM) is responsible for
initiating the project with clear goals, sponsorship, and a business case that aligns with the goals of the organization
overseeing the development and acceptance of a realistic project plan that meets the requirements approved for the project
The PM should have complete knowledge of the project plan, which should include
approved requirements for the product, service, or process being produced;
a schedule for the project;
resource plans/requirements, including people (time), money (budget), material, equipment, and facilities;
a strong communications plan;
a risk plan identifying risks and actions; and
a statement of quality standards and directions.
Working PM vs Dedicated PM
A working PM = multitasking, less time, less authority, potentially less effective
A dedicated PM = focused, trained, more authority, generally more effective
Stakeholder engagement
the process of identifying, communicating with, and involving people who are affected by or can influence a project.
It means understanding their needs and expectations, keeping them informed, and actively working with them to gain support, reduce risks, and ensure the project stays on track.
stakeholder matrix
a tool used to organize and analyze stakeholders based on their level of power and interest in a project.
A communication plan
is a document that outlines how information will be shared throughout a project.
It defines what will be communicated, who will receive it, how often updates will happen, and what methods will be used. It also covers progress, issues, next steps, and any changes, helping keep everyone aligned and informed.
Project status meetings
a key part of the communication plan, helping teams share updates and stay aligned. At the start of a project, the project manager decides how often meetings will happen, what will be reported, and tailors communication based on stakeholder needs. These meetings must be regular and timely to avoid confusion or wrong assumptions.
Change requests
are formal proposals to make changes to a project's scope, schedule, budget, or other key elements.
They are submitted for review—often to a change control board (CCB)—to evaluate the impact on the project before approval. This helps ensure any changes don't negatively affect the project's time, cost, or performance
A change control board (CCB)
is a group of people responsible for reviewing, evaluating, and approving or rejecting change requests in a project.
project report
document used to communicate the current status, progress, and performance of a project to stakeholders.
Collaboration tools
are software applications that help people work together on projects, even if they are in different locations.
A WBS, or Work Breakdown Structure
is a tool used in project management to break a project into smaller, more manageable parts.
It organizes the total scope of the project into tasks and subtasks, making it clear what needs to be done, who is responsible, and when work should be completed. The WBS helps improve understanding, accountability, and coordination within the team.
Conflict management
process of identifying and handling disagreements or disputes within a project team or between stakeholders.
Its goal is to address conflicts in a way that reduces negative impact and keeps the project moving forward. Common approaches include collaborating to find a solution, compromising, avoiding the issue when appropriate, or finding a win-win outcome.
PMI - Project Management Institute.
It is a global organization that develops standards for project management and promotes best practices used by project managers around the world.
PMI is best known for creating guides like the PMBOK Guide (Project Management Body of Knowledge), which outlines standard processes, tools, and techniques for managing projects
The PMBOK (Project Management Body of Knowledge)
is a guide created by the Project Management Institute (PMI) that outlines standard practices for managing projects.
PMP and CAPM
are certifications offered by the Project Management Institute (PMI) that show a person's knowledge of project management.
AXELOS
joint venture between the UK government and Capita PLC that develops and manages global best-practice frameworks and certifications for project and IT service management.
PRINCE2 (Projects IN Controlled Environments)
is a structured project management methodology developed by AXELOS.
It provides a step-by-step framework for managing projects in a controlled and organized way. PRINCE2 focuses on clear roles, defined stages, and strong documentation to ensure projects stay on track.
regular and timely
It is important that project status meetings are ____.
regular and timely
weekly
monthly
at stakeholders' request
correct
Shared threaded discussion
Which communication type is the best option when working in a widely dispersed virtual team?
Point-to-point instant messaging
Phone calls
Shared threaded discussion
PMI
Which organization includes standards for the Organizational Project Management Maturity Model (OPM3)?
PMI
APM
IPMA
AXELOS Ltd.
PMI
Which organization provides the Project Management Professional (PMP) certification?
PMI
APM
IPMA
AXELOS Ltd.
In a functional (departmentalized) organization
employees are grouped by job type or function, such as engineering, marketing, or finance. Each department has a manager, and all employees in that department report up through a clear chain of command.
A matrix organizational structure
is a type of company setup where employees report to more than one manager.
Strong/Weak Matrix Org
Strong matrix = project manager has more power
Weak matrix = functional manager has more power
projectized organization
is a structure where the company is organized around projects instead of departments.
PMO (Project Management Office)
is a group or department in an organization that defines, supports, and improves how projects are managed.
five levels of project management maturity i
Level 1 - Ad Hoc
No formal processes or standards
Work is done inconsistently
Success depends on individuals, not systems
Level 2 - Planned
Some processes and documentation exist
Not standardized across the whole organization
Management support is inconsistent
Level 3 - Managed
Standard processes and procedures are established
Documentation is formal
Execution is still not always consistent
Level 4 - Integrated
Processes are refined and consistent across all projects
Strong management support
Metrics are used to measure performance and improve efficiency
Level 5 - Sustained
Continuous improvement based on lessons learned
Organization uses data and metrics for future decisions
Focus on long-term optimization and competitive advantage
Level 1 - Ad Hoc
No formal processes or standards
Work is done inconsistently
Success depends on individuals, not systems
Level 2 - Planned
Some processes and documentation exist
Not standardized across the whole organization
Management support is inconsistent
Level 3 - Managed
Standard processes and procedures are established
Documentation is formal
Execution is still not always consistent
Level 4 - Integrated
Processes are refined and consistent across all projects
Strong management support
Metrics are used to measure performance and improve efficiency
Level 5 - Sustained
Continuous improvement based on lessons learned
Organization uses data and metrics for future decisions
Focus on long-term optimization and competitive advantage
Functional
Which organizational structure is used by government entities?
Projectized
Functional
Matrix
The PMO tracks "lessons learned" to be carried to new projects.
The PMO helps provide resources to projects as needed.
The PMO creates a repository for all project knowledge in the organization.
Which statement is true about the project management office (PMO)? Choose all that apply.
The PMO tracks "lessons learned" to be carried to new projects.
The PMO consists of employees who cannot be dismissed from the organization.
The PMO helps provide resources to projects as needed.
The PMO creates a repository for all project knowledge in the organization.
corporate strategy
The project management offices (PMOs) can help align project investment to ____.
historical records
monitoring and control
corporate strategy
project policies
The requirements in the scope adequately define the project's objectives.
In addition to the triple constraints, what other considerations may determine if a project is successful?
The project is of high interest to the CEO.
No government regulations affect the product of the project.
The requirements in the scope adequately define the project's objectives.
correct
A group of programs or projects that support the same business goal makes up a portfolio.
Which statement about projects, programs, and portfolios is correct?
A group of programs or projects that support the same business goal makes up a portfolio.
Any two projects can make up a program.
Calling an endeavor a program justifies assigning more resources.
Only programs can be a part of a portfolio.
correct
project
You work at an automotive manufacturer. This company has the goal of being able to supply a full range of passenger cars, from small compact to large luxury.
A huge endeavor is being undertaken to design and develop an entirely new small passenger car. There are several groups of people working on different aspects of this endeavor: one group on the engine, one on the transmission, one on the navigation system, and so on. Each group has its scheduled start and end dates and a definition of the unique product it will create.
Each of these groups is working on a ____.
program
portfolio
project
long-term business strategy
plan
You are talking to a friend who has renovation project management experience. You cannot decide whether you want to take on the daunting task of being your own project manager. Your friend tells you that if you decide to manage the project, your first assignment will be to create the project ____.
scheduling template
workflow diagram
platform
plan