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PM Cert - CAPM

Chapter 2 - Managing a Project

TermDefinition
Stakeholders People, groups, businesses, customers, and communities that have a vested interest in the project. *Can be for or against the project (positive or negative stakeholder).
Project Manager A person that is accountable for managing the project. He or she guides the team through the project phases to completion.
Customer / User A person or group that will use the project deliverable. The user uses the product; the customer pays for it. A stakeholder can be both a user and a customer.
Functional Management Consists of the managers of the administration or functional units of any organization.
Sponsor A person that authorizes the project. Ensures that the project manager has the necessary resources, including monies, to get the work done. Ideally the sponsor should shield the PM from attacks, scope changes, and authority challenges.
Sellers and Business Partners Vendors, suppliers, and contractors for a project.
PMO Project Management Office, is considered a stakeholder of the project it oversee. The PMO provides project management support, templates, training, and helps direct the project management activities of the organization.
Portfolio Managers High level committee or board within an org. that decides which projects and programs the org. should invest in. Evaluates the cost, benefits, and ROI to determine if the project should be pursued.
Program Managers Lead programs for an organization.
Program A collection of projects that are working in concert to create benefits for the org. that the org. could not realize by managing the projects separately.
Operations Management Operations describes the ongoing day-to-day activities at the core of an org. Operations deal with the saleable goods and services that is the heart of an org.
Organizational Structure: Functional Organizations with clear divisions regarding business units and their responsibilities. Each department works as a separate entity.
Organizational Structure: Weak Matrix Similar to a functional organization. Project team may come from different depts. but the project mgr. reports directly to a specific functional manager.
Organizational Structure: Balanced Matrix Similar to a Weak Matrix but the Project Mgr. has more time and power regarding the project.
Organizational Structure: Strong Matrix Strong Project Mgr. In this type of org. the Proj Mgr. gains power when it comes to project work. The project team may also have more time available for the project even through the members may come from multiple depts. within the organization.
Organizational Structure: Projectized Pinnacle of Project Management structures. Groups employees by activities on a particular project. Project Mgr. may have complete or very close to complete control over the project team. High level of autonomy and responsibility for project's success.
Project Management System Collection of tools, resources, a project management methodology and defined procedures a project manager uses to complete a project. - Likely to be dictated by the PMO.
Kill Point The review of a phase to determine if it accomplished its requirements. A kill point signals an opportunity to kill the project if it should not continue.
Phase The division of a project based on the work or deliverable completed within that phases.
Phase Exit The review of a phase to determine if it accomplished its requirements.
Phase Gate The review of a phase to determine if it accomplished its requirements.
Project Life Cycle The collection of phases from the start of a project to its completion.
Organization Structure: Composite An organization that creates a blend of the functional, matrix and projectized structures.
Created by: ianmoore87
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