Collocation
Team members are often located in the same physical location�for example, the same office building or office complex. Enables teams to function more effectively than if they're spread out among different localities.
Project life cycle
All the collective phases the project progresses through in concert
Deliverable
An output that must be produced to bring the phase or project to completion. Tangible and can be measured and easily proved
Project management
The application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
Fast Tracking
Starting a new phase before the phase you're working on is completed. This compresses the project schedule, and the project is completed sooner as a result.
Project Management Office (PMO)
A way to organize and establish standards for project management techniques within an organization. They can also serve as a project library, housing project documentation for future reference.
Functional Organization
Centered on specialties and grouped by function. Advantages are enduring organizational structure, clear career path with separation of functions allowing specialty skills to flourish, clear chain of command. Disadvantages include project manager with lit
Project Manager
The person responsible for managing the project processes and applying the tools and techniques used to carry out the project activities.
Iterative
PMI calls this process of going back through the process groups this type of process (not to be thought of as a one-time process)
Project Sponsor
Generally an executive in the organization with the authority to assign resources and enforce decisions regarding the project.
Matrix Organization
A combination of the functional and projectized organizations. A project manager's authority varies depending on the structure.
Projectized Organization
Organizations are structured around project work, and staff personnel report to project managers. Project managers have full authority in this organizational structure
Program
Groups of projects that are managed using the same techniques in a coordinated fashion. Sometimes include aspects of ongoing operations as well.
Project
A temporary endeavor undertaken to create a unique product, service or result
Progressive Elaboration
Throughout the project, specific incremental steps are taken to examine the needs and requirements of the product of the project (the SUV, for example) and to fulfill the objectives. These needs are examined in detail and continually monitored and updated
Stakeholder
People with a vested interest in your project. They are the people who have something to either gain or lose as a result of the project.
What is the difference between projects and operations?
A project is temporary in nature with a definite beginning and ending date. Operations are ongoing.
What are the skills every good project manager should possess?
Communication, budgeting, organizational, problem solving, negotiation and influencing, leading, and team building.
What are the different organizational structures?
Organizations are usually structured in some combination of the following: functional, projectized, and matrix (including weak matrix, balanced matrix, and strong matrix).
What are the five project management processes?
Initiation, Planning, Executing, Controlling, and Closing.