Flashcards in PM cards 2nd 20 Deck (20)
What is a strong matrix organization?
Emphasizes project work over functional duties. The project manager has the majority of power in this type of organization.
In this type of matrix organization, the project manager has the majority of power.
What is a weak matrix organization?
Emphasizes functional work over project work and operates more like a functional hierarchy. The functional mangers have the majority of power in this type of organization.
In this type of matrix organization, the functional manager has the majority of power and the project manager has the least amount of power.
What is a balanced matrix organization?
Shares equal emphasis between projects and functional work. Both the project manager and the functional manager share power in this type of structure.
What is the least common form of an organization?
Projectized or Project-Based Organization
What type of organization is solely focused on projects?
Project managers have the most power in which type of organization?
What are the two components involved in validating a project?
Preparing the business case and identifying and analyzing the project stakeholders.
What is the first step involved in validating a project?
Preparing & validating the business case
What does the business case typically document?
The reasons the project came into existence.
What are the seven needs, requirements or reasons projects come into existence?
Market demand, strategic opportunity or business need, customer request, technological advance, legal requirement, ecological impact or social need
What is one of the things a project manager can do at the onset of a project?
Determine the business reason for the project.
Where is the business reason for a project discussed?
In the business case.
What is the business case?
A written document or report that helps executive management and key stakeholders determine the benefits and rewards of the project. It documents the business need or justification for the project and will often include high-level details regarding estimated budgets and timelines for completing the project.
What is a feasibility study?
A formal endeavor that is undertaken to determine whether there is a compelling reason to perform the proposed project.
What components are necessary when validating a project?
Validating the business case, doing a feasibility study, justification, alignment to the strategic plan, and identifying and analyzing project stakeholders.
______________________ are used to determine which proposed projects should receive approval and move forward.
Project selection methods.
What is a decision model?
A formal method of project selection that helps managers make decisions regarding the use of limited budgets and human resources.