Ch. 1 example #86489

True Today's project management involves much more, and people in every industry and every country manage projects.

False Projects are different from operations in that they end when their objectives have been reached or the project has been terminated.

True A project has a unique purpose. Every project should have a well-defined objective.

True A project is developed using progressive elaboration. Projects are often defined broadly when they begin, and as time passes, the specific details of the project become clearer.

True A project requires resources, often from various areas. Resources, however, are limited and must be used effectively to meet project and other corporate goals.

False A project sponsor usually provides the direction and funding for a project.

True A project involves uncertainty. Every project is unique and thus it is sometimes difficult to define its objectives clearly, estimate how long it will take to complete, or determine how much it will cost.

False Project scope deals with questions such as, "What work will be done as part of the project?", "What unique product, service, or result does the customer or sponsor expect from the project?", or "How will the scope be verified?"

False lve uncertainty and limited resources. Thus they rarely finish according to their original scope, time, and cost goals. Instead of discrete target goals, it is often more realistic to set a range of goals.

False Managing the triple constraint involves making trade-offs between scope, time, and cost goals for a project. Experienced project managers know that one must decide which aspect of the triple constraint is most important.

False Project managers must strive not only to meet specific scope, time, cost, and quality goals of projects but also facilitate the entire process to meet the needs and expectations of people involved in project activities or affected by them.

True Stakeholders are the people involved in or affected by project activities, and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents of a project

False Stakeholders are the people involved in or affected by project activities, and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents of a project.

False Stakeholders' needs and expectations are important in the beginning and throughout the life of a project.

False Project procurement management involves acquiring or procuring goods and services for a project from outside the performing organization.

False Project stakeholder management includes identifying and analyzing stakeholder needs while managing and controlling their engagement throughout the life of the project.

True

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False Project budgets, net present value, return on investment, payback analysis, and earned value management are tools used in cost management.

False Motivation techniques, empathic listening, responsibility assignment matrices, project organizational charts, and team building exercises are tools used in human resource management.

True

False Executive support is the most important factor, followed by user involvement.

True

False Good project managers do not assume that their definition of success is the same as the sponsors. They take the time to understand their sponsors' expectations and then track project performance based on important success criteria.

True Program managers are responsible for more than the delivery of project results. They are change agents responsible for the success of products and processes developed by these projects.

False Effective program managers recognize that managing a program is much more complex than managing a single project.

False Individual projects often address tactical goals, whereas portfolio management addresses strategic goals.

False Project managers for large IT projects do not have to be experts in the field of IT, but they must have working knowledge of various technologies and understand how the project would enhance the business.

False Everyone, no matter how technical they are, should develop business and soft skills.

True

False A category of project management software is high-end tools, sometimes referred to as enterprise project management software. These tools provide robust capabilities to handle very large projects and dispersed workgroups.

c A project is "a temporary endeavor undertaken to create a unique product, service, or result." Operations, on the other hand, is work done in organizations to sustain the business.

b One of the attributes of projects is that they have a unique purpose. Every project should have a well-defined objective.

a Most projects have many interested parties or stakeholders, but someone must take the primary role of sponsorship

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d In a home construction project, the project sponsors would be the potential new homeowners.

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c PMI or the Project Management Institute

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Operations

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Every project is constrained in different ways by its scope, time, and cost goals. To create a successful project, a project manager must consider scope, time, and cost and balance these three often-competing goals. He or she must consider the following: Scope: This goal involves questions such as, "What work will be done as part of the project? What unique product, service, or result does the customer or sponsor expect from the project? How will the scope be verified?" Time: This goal encompasses questions such as, "How long should it take to complete the project? What is the project's schedule? How will the team track actual schedule performance? Who can approve changes to the schedule?" Cost: This goals deals with questions such as, "What should it cost to complete the project? What is the project's budget? How will costs be tracked? Who can authorize changes to the budget?" Managing the triple constraint involves making trade-offs between scope, time, and cost goals for a project. Experienced project managers know that they must decide which aspect of the triple constraint is most important.

(1) Project scope management involves defining and managing all the work required to complete the project successfully. (2) Project time management includes estimating how long it will take to complete the work, developing an acceptable project schedule, and ensuring timely completion of the project. (3) Project cost management consists of preparing and managing the budget for the project. (4) Project quality management ensures that the project will satisfy the stated or implied needs for which it was undertaken. (5) Project human resource management is concerned with making effective use of the people involved with the project. (6) Project communications management involves generating, collecting, disseminating, and storing project information. (7) Project risk management includes identifying, analyzing, and responding to risks related to the project. (8) Project procurement management involves acquiring or procuring goods and services for a project from outside the performing organization. (9) Project stakeholder management includes identifying and analyzing stakeholder needs while managing and controlling their engagement throughout the life of the project. (10) Project integration management is an overarching function that affects and is affected by all of the other knowledge areas.

Project managers often take on the role of both leader and manager. must set a good example to lead their team to success. They are aware of the greater needs of their stakeholders and organizations, so they are visionary in guiding their current projects and in suggesting future ones. emphasizing development of business and communication skills. paying attention to the details and daily operations of each task. leadership and management characteristics; they are visionary yet focused on the bottom line. Above all else, good project managers focus on achieving positive results.

The Project Management Institute (PMI) provides certification as a Project Management Professional (PMP)—someone who has documented sufficient project experience and education, agreed to follow the PMI code of professional conduct, and demonstrated knowledge of the field of project management by passing a comprehensive examination. Organizations that support PMP certification see the value of investing in programs to improve their employees' knowledge in project management. Many employers today require specific certifications to ensure their workers have current skills, and job seekers find that they often have an advantage when they earn and maintain marketable certifications. Passing the PMP exam is becoming a standard for project managers. Project management certification is also enabling professionals in the field to share a common base of knowledge. Sharing a common base of knowledge is important because it helps advance the theory and practice of project management. PMI also offers additional certifications, including agile techniques, scheduling, risk, and program management.

PMI approved a new Code of Ethics and Professional Conduct that took effect in January 2007. This code applies not only to PMPs, but to all PMI members and individuals who hold a PMI certification, apply for a PMI certification, or serve PMI in a volunteer capacity. It is vital for project management practitioners to conduct their work in an ethical manner. Even if one is not affiliated with PMI, these guidelines can help one conduct their work in an ethical manner, which helps the profession earn the confidence of the public, employers, employees, and all project stakeholders. The PMI Code of Ethics and Professional Conduct includes short chapters addressing vision and applicability, responsibility, respect, fairness, and honestly.