PgMP Standard Exam Study Notes

5/12/2018 PgMP Standard Exam Study Notes - slidepdf.com

http://slidepdf.com/reader/full/pgmp-standard-exam-study-notes 1/22

Difference between Project, Program and Portfolio Management (Ch 1, p8)

Parameter Project Program Portfolio

Scope y Narrow

y Specific deliverables

y Wide

y May change

y Benefit expectations of stakeholder

y Business scope

y Changes with strategic goals of

organization

Change y Keep to a minimum y Expect change y Monitor change in broader

environment

Success Measured

By

y Budget

y Time

y Specifications (Scope)

y ROI y Capabilities

y Benefit Delivery

y Aggregate performance of portfolio

components

Leadership focus y Focus on task delivery

y Directive

y Focus on managing relationships

y Conflict resolution

y Adding value to portfolio decision-

making

Manage y Technicians y ProjectManagers y PortfolioManagement Staff

Role y Team players who

motivate

y Leaders providing vision and

leadership

y Leaders providing insight and

synthesis

Work y Monitor and control

tasks

y Monitor projects and ongoing work y Monitor aggregate performance and

value indicators

Lifecycle y To produce discrete

deliverables

y To manage outcomes and benefits of

integrated projects

y Have extended lifecycles



Defining the program (21 questions, 14%)

1. Performing a program assessment

a. Define program ob jectives and requirements f rom the strategic plan

b. Establish high-level program mapc. Ensure program aligns with enterprise strategic plan / mission

d. Understand the strategic value of proposed business change

e. Select the relevant communication tools and techniques

2. Supporting business analysis f unctions

a. Identif ying the marketplace needs and drivers for the program

b. Ensuring program viability by performing market analysis and research

c. Completing a high-level cost benefit analysis for the program3. Developing benefits realization plan

a. Estimating costs and benefits (ROI) of the program

b. Identif ying suitable benefits measurement techniques

c. Defining KPIs

d. Adapting the benefits realization plan to the organizational environment

e. Conducting program feasibility study

f . Identif ying f unding sources and obtaining f unding

4. Performing preliminary stakeholder analysis

a. Identif ying, analyzing and characterizing program stakeholders

b. Assessing stakeholder positions relative to the program

c. Building stakeholder analysis charts

d. Identif ying evaluating and consolidating stakeholder requirements

e. Creating stakeholder management plan

f . Building the approach for stakeholder communications

5. Establishing alliances with other departments and organizationsa. Recognizing dependencies with other departments and organizations

b. Considering potential impacts of organizational environment and culture

c. Aligning program ob jectives with alliances

d. Recognizing and analyzing key program dependencies

6. Evaluating organizational capabilities

a. Consulting with groups involved in program delivery

b. Validating program priority and alignment to strategic ob jectives



c. Aligning program capabilities with strategic stakeholder needs

d. Conducing a gap analysis of program deliverables and benefits against strategic plans and program requirements

e. Evaluating program deliverables and benefits by applying lessons learned and financial management principles.

7. Requesting authorization to proceeda. Presenting the program assessment for approval to the governance authorities in order to initiate the program

b. Recognizing and understanding the organization and program governance structures

c. Selling the programs vision and expected business benefits

d. Presenting the program assessment for approval

e. Requesting authorization to proceed f rom the governance authorities

f . Formally initiating the program

Program Management Process Groups

Process Groups

Benefits

Management

Stakeholder

Management Program Governance

Initiating (18 questions, 12%)

y Defining and authorizing the program(s) and/or project(s) within the program.

1. Initiate Program

a. Define the scope and benefit expectations of

the program

b. Ensure authorization and program initiation

are linked to organizations ongoing work

and strategic priorities.

c. Formal acceptance of scope by stakeholders

d. Order of magnitude estimates of scope,

effort and cost (i.e., feasibility studies,

concept development)

y Program Benefits

Statementy Benefits Realization

Plan

y (Program Business

Case and

Investment

Analysis)

y Stakeholder Analysis

andM

anagementP

lan

y Program Charter

y Program

Manager

Identification

y Program Sponsor

Identification

y Program Scope

Statement



Process Groups

Benefits

Management

Stakeholder


2. Authorize Projects

a. Initiate components within the program. b. Timing usually controlled by Program

Management Plan

y Project Business

Case

y Program Reporting

Requirementsy Communicate Project

Related Info to

Stakeholders

y Project Charters

y ProjectManager Assigned

y Project Sponsor

Identified

y Project Funding

Approved

3. Initiate Teama. Formalize appointment of program manager

b. Obtain and organize key personnel (core

program team)

y Core Program TeamAssignments

y ProgramManager

Assignment

y Program Team Directory

Planning (30 questions, 20%)

y Planning the best alternative courses of action to deliver the benefits and scope that the program was undertaken to address.

y Planning processes are iterative and depending on information generated at the project level. 1. Develop ProgramManagement Plan

a. Develop set of plans to be used to guide

both program execution and program

control (Same subsidiary plans as for

projects.)

b. Each planning process results in

development of a su

bsidiary plan

y Program Benefits

Statement Updates

y Expectations

management

y ProgramManagement

Plan (and all subsidiary

plans)

2. Interf ace Planning

a. Process of identif ying and mapping

interrelationships that exist within a

program

b. Describe characteristics of interf aces

c. Create plan to ensure interf aces are

established and maintained

y Program Schedule

Update

y Interf ace

Management Plan

y Requirements for

Program

Communications Plan

y Program Interf aces



Process Groups

Benefits

Management

Stakeholder


3. Transition Planning

a. Process of identif ying and planning for transitions f rom program team to recipients

of on-going activities that result f rom the

program

b. Purpose: Ensure program benefits are

sustained once they are transferred to the

organization

c. Formal handoff d. May be multiple transition events

y Transition Plan y Receiving

Organization Plan

y Transition Agreement

4. Resource Planning

a. Determine people, equipment, materials

b. Optimize resources across the programs

c. Determine how common program resources

will be allocated

y ResourceManagement

Plan

5. Scope Definition

a. Develop detailed scope statement

b. Define approach for developing PWBS

c. Develop scope management plan

y Detailed scope

statement

y ScopeManagement Plan

6. Create ProgramWork Breakdown Structure

a. Decomposition stop at level of control of

ProgramManager

b. Captures all non-project work

y PWBS

y PWBS Dictionary

y ProgramMgt Plan

Updates

7. Schedule Developmenta. Project managers build detail

b. Detail rolled up at the management control

points into program work packages

y Program Schedule y Resource Requirement

Updates

y ScheduleManagement

Plan

8. Cost Estimating and Budgeting

a. Aggregate cost estimates

b. Develop budgets for all components

y Program Budget y CostManagement Plan



Process Groups

Benefits

Management

Stakeholder


9. Q uality Planning

a. Identif y standards relevant to programb. Specif ying how standards will be satisfied

y Operational

Definitionsy Q uality Checklists

y Q uality

Improvement

Ob jectives and

Plans

y Q uality Management y Program Cost of Q uality

y Q uality ManagementPlan

10. Human Resource Planning

a. Identif ying, documenting, and assigning program roles, responsibilities and reporting

relationships

y Roles and

Responsibility Assignments

y Organization chart

y Staffing ManagementPlan

11. Communications Planning

a. Determining the information and

communication needs of program

stakeholders

b. I

dentif ying who needs what information, when they need, how it will be given and by

whom.

y Communications

Management Plan

y Communications

Technology

Requ

irementsP

lan

12. Risk Management Plan and Analysis

a. Identification of program risks

b. Q ualitative risk analysis

c. Q uantitative risk analysis

d. Risk response planning

y Prioritized risks y Risk Response Plan

13. Plan Program Purchases and Acquisitions

a. Determining what to buy when

b. Validating product requirements

c. Developing procurement strategies

d. Make/buy analysis on components of PWBS

y May/buy decisions y Contract SOW

y Procurement

Management Plan

y Program specific

qualified vendor list



Process Groups

Benefits

Management

Stakeholder


14. Plan Program Contracting

a. Identif y type and detail of documentation needed to implement contracts

b. Produce foundation and guidelines on which

effective program-level contract

administration can be implemented.

y Evaluation criteria

y Procurement documentsy ContractsManagement

Plan

Executing (37 questions, 25%)

y Integrates the projects, people and other resources to carry out the program management plan and deliver the programs

benefits. y Ensure that benefits management, stakeholder management and program governance are executed.

1. Direct andManage Program Execution

a. Deliver the programs intended benefits.

b. Produce cumulative deliverables and other

work products

c. Track progress of work

d. Implement approved change requests,

corrective actions and preventative actions.

y Work results y Expectations

Management

y Change requests

y Program termination

requests

2. Develop Program Team

a. Building individual and group competencies

to enhance program performance

b. Ongoing process

y Performance

assessments and

improvements based

on work results

y Training records

y Team competency

assessments

3. Information Distribution

a. Providing timely and accurate information to

program stakeholders in usef ul formats and

appropriate media

b. 3 ma jor communication channels: clients,

sponsors, component mangers

y Formal

communications of

program information

y Informal

communications on an

as-needed basis



Process Groups

Benefits

Management

Stakeholder


4. Request Seller Responses

a. Issuing RFIs, RFPs, and RFQ s and obtaining responses

b. Used in early stages of planning to evaluate

make vs buy decisions

y Seller response to

requests

5. Select Sellers

a. Reviewing offers, choosing among potential

sellers, negotiating contract terms.

y Contracts

y Selected vendor(s)

y Updates to procurement

management plan y Agreements

Monitoring and Controlling (32 questions, 21%)

y Monitoring and measuring of program progress against the benefit delivery expectations, identif ying f rom the program

management plan, and taking corrective action.

y Obtaining and consolidating data on status and progress, interf ace with program governance structure, performance reporting,

and integrated change control

1. Integrated Change Controla. Coordinating changes including changes to

cost, quality and scope

b. Approve/deny change requests

c. Escalate requests

d. Identif y when change has occurred

e. Influence change f actors

f . Ensure changes beneficial and agreed upon

g. Managed approved changes

h. Perform throughout lifecycle

y Updates Program mgt plan

Scope statement

Benefits realization

plan

y Change requests

decisions

y Change register

y Modified project

priorities

2. Resource Control

a. Managing/tracking of all program resources

and associated cost

b. Analysis of resource expense

c. Resource commitments, allocations, and

release

y Change requests

y Expenditure reports

y Resource releases

y Utilization reports

y Cross-charges



Process Groups

Benefits

Management

Stakeholder


3. Monitor and Control ProgramWork

a. Collecting, measuring and consolidating performance information

b. Assessing measurements and trends to

generate improvements

c. Analyze reported project results

d. Similar to risk management focuses on

performance vs. risk

y Forecasts y Communications

messages

y Change requests

4. IssueManagement and Controla. Identif ying, tracking and closing issues

effectively

b. Ensure stakeholder expectations are aligned

with program activities and deliverables.

c. Carried out in parallel with controlling risk

y Change requesty Escalated issues

y Issues register

y Proposed resolutions

5. Scope Control

a. Capture requested changes

b. Evaluate request

c. Decide on request disposition

d. Communicate decision

e. Archive request artif acts

f . Initiate activities for approved requests

y Change request status

information

y Change request decisions

y Program budget updates

6. Schedule Control

a. Ensure program will produce required

deliverables on time

y Information for

stakeholders

y Change requests

y Program schedule

updates

7. Cost Control

a. Controlling changes to and producing

information f rom the program budget

b. Analyzing actual cost as incurred

c. Addressing unanticipated events; both

positive and negative

y Variance reports y Change requests

y Estimate at completion

y Program budget updates



Process Groups

Benefits

Management

Stakeholder


8. Perform Q uality Management

a. Monitor specific program deliverables, products and results to ensure they meeting

defined requirements

y Change requests

y Q uality checklistsy Inspection/test reports

y Measurement results

y Non-conforming work

product

9. Communications Control

a. Managing stakeholder communications

y Updated

communications plan

10. Performance Reporting a. Coordinating performance data

b. Provide stakeholders with information about

how resources are being used to deliver

program benefits

c. Conveyed via Information Distribution

Process

y Updatedcommunications plan

11. Risk M

onitoring andC

ontrola. Risk Control - Tracking identified program

risks

b. Risk Monitoring - Executing risk response

plans and evaluating effectiveness

y Change requesty Risk register

12. Program Contract Administration

a. Managing relationship with buyers and

sellers

b. Procurement of shared resources

y y Program reports

y Communications

messages

y Adjustments to resource

accounting

y Approved pmt requests

y Contract changes

y Change requests

Closing (8 questions, 8%)

y Formalize acceptance of a product, service or benefit/results and bring program or program component to orderly end.



Process Groups

Benefits

Management

Stakeholder


1. Close Program

a. Formal acceptance of outcome by sponsor or customer

b. Capture / archive records

y Certificate of

programcompletion

y Final performance

reviews

y Closure report y Program archives

y Personnel recordsupdated

y Lessons learned

2. Component Closure

a. Close project or non-project activity

b. Validate closure

c. Records and communications

y Certificate of

component

completion

y Communication

messages

y Project archives

y Program archives

y Resource availability

updates3. Contract Closure

a. Closing contract according to terms

b. Product verification

c. Records

y y y Contract completion

certification

y Contract termination

documentation



Knowledge Areas

KNOWLEDGE AREAS INITIATING (12%) PLANNING (20%) EXECUTING (25%) MONITORING/CONTROLLING

(21%)

CLOSING (8%)

Integration

Management

y Initiate

Programs

y Authorize

Projects

Develop program

management plan

y Interf ace planning

y Transition

planning

y Resource planning

y Direct and

Manage Program

Execution

y Integrated Change

Control

y Resource Control

y Monitor and Control

ProgramWork

y IssueManagement

and Control

y Close Program

y Component

Closure

Scope

Management

y Scope Definition

y Create PWBS

y Scope Control

Time Management y Schedule

Development

y Schedule Control

Cost Management y Cost Estimating

and Budgeting

y Cost Control

Q ualityManagement

y Q uality Planning y Q uality Assurance

y Q uality Control

Human Resources

Management

y Initiate Team y Human Resources

Planning

y Acquire Team

y Develop Team

Communications

Management

y Communications

Planning

y Disseminate

Information

y Communications

Control

y Performance

Reporting Risk Management y Planning and

Analysis

y Monitoring and

Control

Procurement

Management

y Plan Purchases

and Acquisitions

y Plan Contracting

y Request Seller

Responses

y Select Sellers

y Program Contract

Administration

y Contract Closure



3 broad management themes that are the keys to success of a program (Ch1, p9)

1. Benefits management definition and formalization of expected benefits that the program is intended to deliver

a. Benefits realization plan key output of the Initiating Process

b. Activitiesi. Assess the value and organization impact of the programs benefits

ii. Identif y the interdependencies of benefits being delivered among various projects with the program

iii. Assign responsibility and accountability for the actual realization of the benefits f rom the program

c. Critical component of the Initiate Program Process

d. Benefits Sustainment Sixth phase of benefits management occurring after program is transitioned to operations

2. Program stakeholder management

a. Identif ying how the program will impact stakeholders and developing a communication strategy to engage the

affected stakeholders, manage their expectations, and improve acceptance of the ob jectives of the program

b. Must understand who the stakeholders are, the position they may take, they way they will exert their influence and

their source of power

3. Program governance

a. Process of developing, communication, implementing, monitoring, and assuring the policies, procedures,

organizational structures, and practices associating with a given program.

b. Controls the program and therefore bridges the program lifecycle and program management processes

c. Result: f ramework for efficient and effective decision-making and delivery management focused on achieving program goals in a consistent manner, addressing appropriate risk and stakeholder requirements



Program Lifecycle with gate after each phase (Ch 2, p18)

Lifecycle Phases Benefits Management

Stakeholder


1. Pre-Program Setup (Similar to Initiating Phase)

y Ob jective: Establish firm foundation of

support and approval for the program

Identif y y Identif y and quantif y

business benefits

y Identification of stakeholders

y Gate: Approval in principle

2. Program Setup (Similar to Planning Phase)

y Purpose: Build a detailed roadmap that

provides direction on how the program

will be managed and defines key deliverables

Analysis

y Derive and prioritize

components

y Derive benefits metrics

y Analysis of

stakeholder interests

y Gate: Approval

authorizing

execution of the

programmanagement plan

3. Establishing ProgramManagement and

Technical Inf rastructure

y Purpose: Establish the structure in which

work will occur along with the technical

inf rastructure to f acilitate the work

Planning

y Establish benefits

realization plan

y Establish benefits

monitoring

y Map benefits to program

plan

y Establish stakeholder

management

approach, tools, etc.

4. Delivering Incremental Benefits longest and

most costly

y Purpose: Initiate the component projects

of the program and coordinate the

deliverables to create incremental

benefits.

y Ends when planned benefits are achieved

or a decision is made to terminate the

program

Realization

y Monitor components

y Maintain benefits register

y Report benefits

y Monitor stakeholder

list

y Manage stakeholder

changes

y Gate: Approval to

close all program

work is completed

and benefits are

accruing

5. Closing the Program

y Purpose: controlled closedown of the

program

Transition

y Consolidate coordinated

benefits

y Transfer the ongoing

responsibility



Lifecycle Phases Benefits Management

Stakeholder


Gate Reviews focus on strategic alignment,

investment appraisal, monitoring and control of opportunities and threats, benefit assessment,

and monitoring the portfolio outcomes

Governance monitors the progress of the

program and delivery of the coordinated benefits

f rom its component projects.



10 Common Program Management Controls

CONTROL DEFINITION

Standards Widely recognized and accepted standards. Program specific standards including quality, schedule, training, WBS

Policies and Procedures Implement standards, processes and work methods that result in the work required by the

program being performed.

Program Plans Formulates and documents the management strategy and approach for the program

y Cost

y Communications

y Procurementy Q uality

y Resource

y Risk

y Schedule

y Scope

y Staffing

Reviews Risk reviews, program management reviews, phase-gate reviewsOversight By an executive board or individual executive. Result in sign-off by the stakeholder to confirm

that requirements are met.

Audits Require that information be substantiated, require demonstration that process, alignment

with criteria. Includes control point, financial process, risk response and quality audits.

Contracts Contract terms and clauses that are pre-developed and approved for inclusion.

Directories and Distribution

Lists

Standard lists established and maintained to control the routing and recipients of formal

commu

nications and messages sent to program stakeholders.

Documentation Style guides, templates.

Regulations Environmental legislation, government regulations and laws, legal opinions, legislative

requirements and restrictions, and organizational legislations.

Formulas

y Calculating the number of lines of communication in the program stakeholder network

o (n * (n 1 ) / 2 (n=# of stakeholders NOT including the program manager)



Definitions

Term Definition

Assumptions Factors considered true, real or certain

Process Asset Library (PAL) Organizational process assets

Program Stakeholder

Management

Defining the individuals and organizations whose interests may be positively or negatively

affected by program outcomes

Program Governance Developing, communicating, implementing, monitoring, and assuring the policies, procedures, organizational structures, and practices associated with a specific program

ProgramManagement Themes BenefitsManagement

Program Stakeholder Management

Program Governance

Execution Management Managing the daily flow of forward work progress by the delivery team

Management by Projects Treating aspects of ongoing operations as projects in order to apply project managementtechniques to them

Metric A quantitative standard of measurement typically used in programs and projects to measure

performance and progress

Operations Ongoing, repetitive activities producing the same result or providing the same service

Organization Group of persons organized for some purpose such as performing work

Interrelated activities in an organization are grouped either as projects or operations

Performing Organization The enterprise whose personnel are most directly involved in doing the work of the program

Portfolio Collection of components grouped together to f acilitate effective management of the work to

meet strategic business ob jectives

Program Group of interrelated projects managed in a coordinated way to obtain benefits and control not

available f rom managing them individually

Project Temporary endeavor undertaken to create a unique product, service or result



Term Definition

PortfolioManagement Identif y, authorizing, managing and controlling a portfolio to achieve strategic business

ob jectives

ProgramManagement Centralized, coordinated management of a program to achieve the programs strategic benefits

and ob jectives

ProjectManagement Applying knowledge, skills, tools and techniques to project activities to meet the project

requirements

Process A series of actions brining about a results

Program Governance Board Group responsible for ensuring that program goals are achieved and proving support for

addressing program risks and issues.

Program Director Individual with executive ownership of the program or programs

ProgramManager The individual responsible for managing the program

Program Office The organization that provides support of individual program management teams or program

mangers by handling administrative f unctions centrally

ProjectManager Individuals responsible for managing the individual projects within the program

SMART Specific, Measurable, Actual, Realistic, Time-Based

Stakeholder Individuals and organizations whose interest may be positively or negatively affected by program

outcomes (directly or indirectly)

Sub-Project Smaller portion of an overall project created when a project is subdivided into more manageable

components or pieces.

Technique A defined systematic procedure employed by a human resource to produce a product, result or

deliver a service

Tool Something tangible used in performing an activity to produce a project or result



Term Definition

Program Life Cycle Five phases and phase gate reviews with overarching governance

1. Pre-Program Setup

2. Program Setup

3. Establish ProgramManagement and Technical Inf rastructure

4. Deliver Incremental Benefits

5. Closing

Program Governance Process of developing, communicating, implementing, aligning, monitoring and assuring the

policies, procedures, organization structures, and practices associated with a given program.

y Through phase gate reviews, monitors the progress of the program and the delivery of

coordinated benefits f rom the component projects.

y Creating and using a f ramework for efficient and effective decision-making

Pre-Program Set Up Ob jective is to establish a firm foundation of support and approval for the program. Initiates the

program with a mandate or program brief detailing the benefits that the program is expected to

deliver. (Program Management Lifecycle Phase 1)

Program Setup Purpose is to build a detailed roadmap (program management plan) that provides direction on

how the program will be managed and defines the programs key deliverables and components. (Program Management Lifecycle Phase 2)

Establishing Inf rastructure Purpose is to establish the program management and technical inf rastructure that will support

the program and its constituent projects as they deliver the expected benefits for the program.

(Program Management Lifecycle Phase 3)

Delivering Incremental Benefits Initiate the component projects of the program and coordinate the deliverables to create

incremental benefits. (Program Management Lifecycle Phase 4)

Closing the Program Controlled closedown of the program and transition of the artif acts, benefits monitoring and

ongoing operations to other groups. (Program Management Lifecycle Phase 5)

Phase Gate A pre-defined milestone at the end of a phase with predetermined exit criteria.

Phase Gate Review Pre-defined milestones that provide an ob jective check against exit criteria of a completed phase

to determine the readiness to proceed to the next phase in the program lifecycle.

Benefits An outcome of actions and behaviors that provides utility to stakeholders



Term Definition

BenefitsManagement Defining and formalizing expected benefits a program is intended to deliver. (Lifecycle Theme 1)

Benefits Identification y Identif y and q

u

alif y bu

siness benefitsBenefits Analysis y Derive and prioritize components

y Derive benefits metrics

Benefits Planning y Establish benefits realization plan

y Establish benefits monitoring

y Map benefits into program plan

Benefits Realization y Monitor components

y Maintain benefits register

y Report benefits

Benefits Transition Consolidate coordinated benefits

Transfer the ongoing responsibility

Milestone A reference point that marks a ma jor event in a project and is used to monitor the project's or

programs progress.

Critical Success Factor The term for an element that is necessary for a program or project to achieve its ob jectives. It is

a critical f actor or activity required for ensuring the success.

ProgramManagement Plan Consistent and coherent set of documents that can be used to guide both program execution

and control

Artif act Tangible by product produced during the program/project lifecycles and product/deliverable

development.

Mandate An obligation handed down by an inter-governmental body. Process Group Group of processes that are performed as part of a phase. Thirty-nine processes.

Initiating Defines and authorizes the program or a project within the program and produces the program

benefits statement and benefits realization plan. Three processes.

Planning Plans the best alternatives courses of action to deliver the benefits and scope that the program

was undertaken to address. Twelve processes.



Term Definition

Executing Integrates projects, people, and other resources to carry out the plan for the program and

deliver the programs benefits. Seven processes

Monitoring and Controlling Request that the program and its component projects be monitored against the benefit delivery

expectations and that their project be regularly measured to identif y variances f rom plan.

Coordinates corrective actions, when necessary, to achieve program benefits.

Closing Formalizes acceptance of a project, service, or benefit/result; brings the program or program

components (e.g., project) to an orderly end.

Knowledge Area Key areas of expertise and specialization that are implemented in the program and project

management lifecycles by the processes. Integration Management Identif ying, defining, combining, unif ying and coordinating program or project management

activities.

ScopeManagement Defining and controlling what is and is not included in the program or project.

TimeManagement Ensuring timely completion of the program or project.

CostManagement Ensuring that the program or project is completed within the approved budget by planning,

estimating, bu

dgeting and controlling costs.

Q uality Management Ensuring the program or project satisfies the needs for which it was undertaken

Human ResourcesManagement Organizing and managing the program or project team.

Communication Management Ensuring timely and appropriate generation, collection, dissemination, storage and ultimate

disposition of program or project information.

Risk Management Systematically identif ying, analyzing and responding to program or project risks.

PerformanceManagement Acquiring or purchasing goods and services to attain program or project scope. Value Realization Obtaining value f rom the investment, such as savings in time or money

Value Analysis Optimizing cost performance by identif ying required f unctions, establishing values for those

f unctions, and providing f unctions at lowest possible costs.

Balanced Scorecard Measuring whether activities are meeting ob jectives of vision and strategy in four categories: 1)

financial, 2) customer, 3) internal business processes and 4) learning/growth

Precision Degree to which repeated measurements under unchanged conditions show the same results.



Term Definition

Accuracy The degree of closeness of measurements of a quantity to the quantitys actual (true) value.

PgMP Standard Exam Study Notes

Documents

Transcript of PgMP Standard Exam Study Notes