MISY 5310 - Ch. 1 Intro to Project Management 2023/2024

MISY 5310 - Ch. 1 Intro to Project Management Project Management Institute - correct answer An association designed to bring together project management professionals to enhance organizational success by maturing the project management profession. Project - correct answer A planned undertaking of related activities to achieve a unique outcome that has a specified duration. Program - correct answer Related projects coordinated to harness synergies. Portfolio - correct answer A group of projects or programs (which may not be directly related) pursued to reach strategic objectives. Stakeholder - correct answer An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. Project sponsor - correct answer A member of the organization who is responsible for the high-level support of the project. Project manager (Page 5). - correct answer A person with a diverse set of skills—general management, leadership, technical, conflict management, and customer relationship management—who is responsible for managing a project as it goes through its individual phases from concept to completion. (Page 5). Project success (Page 5). - correct answer The degree to which project objectives have been achieved on time, within budget, and with the agreed upon quality and scope. (Page 5) Three key aspects of Project Management - correct answer time, costs, scope Project management methodology (Page 8). - correct answer The process used for executing the project management plan PRINCE2 (PRojects IN Controlled Environments) (Page 8). - correct answer A structured process-based project management methodology providing processes, templates, and steps. Systems development life cycle (Page 8). - correct answer A structured approach to systems development. Project Management Body of Knowledge (PMBOK) (Page 10). - correct answer A repository of project management practices that are generally recognized as good practices. Project management process groups (Page 10). - correct answer Groups of processes performed to initiate, plan, execute, monitor and control, and close a project. Project life cycle (Page 10). - correct answer The phases a project goes through from concept to completion. Microsoft Project (Page 11). - correct answer Software designed by Microsoft to help people manage projects. Work breakdown structure (Page 11). - correct answer A listing of the activities necessary for the completion of a project.