UCF MAN 4583 Mid-Term Study Guide- Questions and Answers

3 personal skills you need to be a good PM? 1. Knowledge 2. Performance 3. Personal Skills What are the Enterprise Environmental Factors? People Market Databases Standards Risk Tolerance Enterprise Environmental Factor: People The skills and organizational culture where you work. Enterprise Environmental Factor: Market The way your company is performing in the market can affect the way you manage your project. Enterprise Environmental Factor: Databases Where your company stores its data can make a big difference in the decisions you make on your project. Enterprise Environmental Factor: Standards Some companies depend on government standards to run their business and when they change, it can have a big impact. Enterprise Environmental Factor: Risk Tolerance Some companies are highly tolerant of risk and some are really risk averse. Portfolio A group of projects or programs that are linked together by a business goal. Program A group of projects that are closely linked, to the point where managing them together provides some benefit. Projects in a program are often dependent on each other. Project Any work that produces a specific result and is temporary. Always have a beginning and an end. A project is.. Temporary Creating a Unique Result Progressively Elaborated Projects are not... Always Strategic or Critical Ongoing Operations Always Successful Operation (Process) Work that's done in a way that's repeatable and ongoing, but is not a project.