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PMBOK 2013 5th Edition – CH01 Introduction - PMP Preparation WorksheetChapter 1 – Introduction – Key Points

“Good practice” is set by the PMBOKo Project management team is responsible for determining what is appropriate

A project:o Is temporary

Has a define beginning and end Does not mean short in duration Does not mean short lifespan once project complete Think large scale projects with the products lasting for decades

o Creates a unique product, service or result

Project Management applies:o 47 processeso 5 Process Groups

Initiating Planning Executing Monitoring & Controlling Closing

Relationshipso Portfolio

Goal: Facilitate strategic business objectives How: Collection of Programs and Projects

May not be directly related to each other Example: Infrastructure Investment

o Program Goal: Obtain synergy benefits in a coordinated manner

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How: Group of related projects Example: Satellite system with projects for design, construction, and launch

o Project Defined above

o Project Management Office (PMO) Organizational Body Varying Responsibilities

Provide Project Management Support OR Directly manage projects

o May not be related other than by being managed together Stakeholder authority for key decisions about projects initiation, continuation, or termination

Characteristics of a Project Managero Knowledge

Applies project management knowledgeo Performance

Results of knowledge application are his / her performanceo Personal

Behavior and attitudes Effectiveness and leadership Guides the team and balances constraints

Enterprise Environmental Factorso Internal factors which influence a project

Organizational culture, structure, and processes Existing facilities and equipment Communication channels

o External factors which influence a project Government or industry standards Marketplace conditions Stakeholder risk tolerances