IT Project Management Part 2 - Flashcards

Vocabulary flashcards covering key terms from the lecture notes on project management, PMO, maturity models, agile, and frameworks.

Project

A temporary endeavor undertaken to create a unique product, service, or result (often a temporary organization formed to deliver outcomes per an approved business case).

Project Management

The application of knowledge, skills, tools, and techniques to project activities to meet requirements and achieve objectives within time, cost, scope, quality, benefits, and risk targets.

PPM Framework

A framework for selecting, governing, and delivering portfolios, programs, and projects to realize strategic benefits.

PMO

Project Management Office: a function that supports, standardizes, and governs project management practices across an organization (e.g., awareness/training, methodologies, executive visibility).

Weak Matrix

An organizational structure where functional managers hold most authority; PMO provides project support and consolidated visibility.

Balanced Matrix

An organization where project managers and functional managers share authority; PMO provides support and governance.

Strong Matrix

An organization where the project manager has greater authority; PMO directs portfolio management and alignment with strategy.

Enterprise/Global PMO

A central PMO responsible for directing portfolio management and aligning projects with enterprise strategy.

Gartner PPM Maturity Model Level 1 – Awareness

Initial maturity; processes exist in name or informally; low discipline and governance.

Gartner PPM Maturity Model Level 2 – Repeatable

Basic processes are repeatable and followed; some governance and consistency.

Gartner PPM Maturity Model Level 3 – Defined

Standardized, organization-wide processes documented and followed.

Gartner PPM Maturity Model Level 4 – Managed

Processes are measured and controlled; performance is managed.

Gartner PPM Maturity Model Level 5 – Optimized

Continuous improvement with deliberate optimization of processes.

P3M3

Portfolio, Programme and Project Management Maturity Model by Axelos; framework to assess maturity across PPM.

Stakeholder

Any person or group with an interest in or impact on a project; can influence and be influenced by project outcomes.

Triple Constraint

The interdependent relationship among scope, schedule, and cost/quality; changes to one affect the others.

Project Manager

Lead the project team to achieve objectives; has authority for day-to-day management, delegated by the sponsor.

PMI Talent Triangle

Core PM competencies: Technical Project Management, Leadership (Power Skills), and Business/Strategic Management.

PMBOK Knowledge Areas

Ten knowledge areas: Integration, Scope, Schedule, Cost, Quality, Resources, Communications, Risk, Procurement, and Stakeholder Management.

PMBOK Process Groups

Five process groups: Initiating, Planning, Executing, Monitoring & Controlling, and Closing.

Agile Manifesto

Values prioritizing individuals and interactions, working software, customer collaboration, and responding to change.

Scrum

An Agile framework for iterative, incremental product delivery using timeboxed sprints and a backlog.

Kanban

An Agile method focusing on visualizing work and limiting work in progress to improve flow.

PRINCE2 Agile

Blending PRINCE2 governance with agile approaches to enable scalable, controlled agile delivery.

Life Cycle vs. Phase Gate

Projects progress through defined phases with governance gates; iterations may repeat; backlog informs next phases.

Iterative vs Incremental

Iterative elaborates requirements; Incremental delivers value in usable portions; often both used in Agile.

Backlog

A prioritized list of features or requirements to be implemented in upcoming iterations.

Portfolio/Program/Project Definitions

Portfolio: collection of programs/projects aligned with strategy; Program: group of related projects delivering benefits; Project: temporary effort to deliver a product/service.