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Mod2 P - Frameworks

PMP Module 02 (Prism) - Programs, Portfolios, PMO

QuestionAnswer
What is the project hierarchy within an organization? PMO (directs multiple), Programs (consisting of many), Projects
What is a Program? Group of projects, managed together to obtain greater efficiencies of scale
How is a Portfolio different than a Program? Collection of Projects and/or Programs grouped together to meet Business Objectives
What is the focus of Portfolio Management? Monitoring project delivery within budget and timeline
What is a PMO? Project Mgmt Office is a department that centralizes PM.
What are the 3 PMO types? Supportive, Controlling, Directive
What is a Supportive PMO? Provide policies, methodologies, templates
What is a Controlling PMO? Provide support/guidance, training, defining PM software/tooling
What is a Directive PMO? Owns PMs (like employees) and directs all Projects
What are the 3 organizational types? Functional, Matrix, and Projectized.
What is a Functional org structure? Projects do not always have a full-time PM. Funding/reporting, and resources through functional structure.
What is a Matrix org structure? Mixture of Functional and Projectized. PM has similar authority to functional mgrs and negotiates with them.
What is a Projectized org structure? PM has full authority over proj resources, and team mbrs report only to PM.
Matrix org structures have 3 subtypes. What are they? Weak Matrix (part-time PM, no budget, functional mgrs more powerful) Strong Matrix (full-time PM, control budget, PM has more auth than functional mgrs), Balanced (mid)
What are the Proj Mgmt process groups? IPE(M/C)C => Initiating, Planning, Executing, Monitoring/Controlling, Closing.
What is the Predictive project life cycle? Time and Cost to deliver Scope is known early in lifecycle. Sequential phases
What is the Iterative/Incremental project life cycle? Product is built in a series of phases/cycles. Used to manage changing objectives and scope, and reduce complexity of project.
What is the Adaptive project life cycle? Iterative/incremental but very rapid short iterations (2-5 weeks), with fixed Time/Cost at each iteration
What's the difference between Agile and Iterative/Incremental life cycles? Agile is best used for software and in cases where requirements are unknown or difficult to define.
What is the Hybrid project life cycle? Uses both Predictive and Adaptive management but different stages have different types. Any mixture is possible.
Created by: anjp
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