PMP Q&A & Study Guide - Project Life Cycle & Organization

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

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

Balancintg the cometing project constraints including scope, quality, schedule, budget, resources and risks.

Identifying, prioritizing, authorizing, managing and controlling projects, programs and other related work to achieve specific strategic business objectives.

Product and project quality, timeliness, budget compliance, and degree of customer satisfaction.

Group of related projects managed in a coordinated way

1. Managing shared resources across all projects administered by the PMO; 2. Identifying and developing project management methodology, best practices and standards; 3. Coaching, mendoring, training and oversight; 4. Monitoring compliance with project management standards, policies, procedures, and templates via project audits; 5. Develping and managing project policies, procedures, templates and other shared documentation 6. Coordinating communication across projects.

Managing most projects most of the time across mant types of industries

Internal and External factors that surround or influence a project's success. These factors may contrain or enhance a project. They are considered as inputs to most projects.

The collection of generally sequential and sometimes overlapping project phases, whose name and number are detemrined by the management and control needs of the organizations involved in the project.

1. Cost & staffing levels are low at the start, peak as the work is carried out, and drop rapidly as the project draws to a close. 2. Stakeholder influences, risk, and uncertainty are greatest at the start of the project and decrease over the life of the project. 3. Ability to influence the final characteristics of the project's product, without significantly impacting cost, is highest at the start of the project and decreases as the project progresses toward completion.

Persons or organizations that are actively involved in the project or whose interests may be positively or negatively impacted by the performance or completion of the project. Stakeholders may also exert influence over the project, its deliverables, and the project team members.

PROJECTIZED

FUNCTIONAL

WEAK MATRIX