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PROCESS KEY_BENEFITS
PMP Processes Key Benefits
49
Management
Advanced
04/30/2022

Additional Management Flashcards

 


 

Cards

Term
4.1 DEVELOP PROJECT CHARTER
Definition
The key benefits of this process are that it provides a direct link between the project and the strategic objectives of the organization, creates a formal record of the project, and shows the organizational commitment to the project.
Term
4.2 DEVELOP PROJECT MANAGEMENT PLAN
Definition
The key benefit of this process is the production of a comprehensive document that defines the basis of all project work and how the work will be performed.
Term
4.3 DIRECT AND MANAGE PROJECT WORK
Definition
The key benefit of this process is that it provides overall management of the project work and deliverables, thus improving the probability of project success.
Term
4.4 MANAGE PROJECT KNOWLEDGE
Definition
. The key benefits of this process are that prior organizational knowledge is leveraged to produce or improve the project outcomes, and knowledge created by the project is available to support organizational operations and future projects or phases.
Term
4.5 MONITOR AND CONTROL PROJECT WORK
Definition
The key benefits of this process are that it allows stakeholders to understand the current state of the project, to recognize the actions taken to address any performance issues, and to have visibility into the future project status with cost and schedule forecasts.
Term
4.6 PERFORM INTEGRATED CHANGE CONTROL
Definition
The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated manner while addressing overall project risk, which often arises from changes made without consideration of the overall project objectives or plans.
Term
4.7 CLOSE PROJECT OR PHASE
Definition
The key benefits of this process are the project or phase information is archived, the planned work is completed, and organizational team resources are released to pursue new endeavors.
Term
5.1 PLAN SCOPE MANAGEMENT
Definition
The key benefit of this process is that it provides guidance and direction on how scope will be managed throughout the project.
Term
5.2 COLLECT REQUIREMENTS
Definition

The key benefit of this process is that it provides the basis for defining the product scope and project scope.

 

This process is performed once or at predefined points in the project.

Term
5.3 DEFINE SCOPE
Definition
The key benefit of this process is that it describes the product, service, or result boundaries and acceptance criteria.
Term
5.4 CREATE WBS
Definition

The key benefit of this process is that it provides a framework of what has to be delivered.

 

This process is performed once or at predefined points in the project.

Term
5.5 VALIDATE SCOPE
Definition

The key benefit of this process is that it brings objectivity to the acceptance process and increases the probability of final product, service, or result acceptance by validating each deliverable.

 

This process is performed periodically throughout the project as needed.

Term
5.6 CONTROL SCOPE
Definition

The key benefit of this process is that the scope baseline is maintained throughout the project.

 

This process is performed throughout the project. 

Term
6.1 PLAN SCHEDULE MANAGEMENT
Definition

The key benefit of this process is that it provides guidance and direction on how the project schedule will be managed throughout the project.

 

This process is performed once or at predefined points in the project.

Term
6.2 DEFINE ACTIVITIES
Definition

The key benefit of this process is that it decomposes work packages into schedule activities that provide a basis for estimating, scheduling, executing, monitoring, and controlling the project work.

 

This process is performed throughout the project.

Term
6.3 SEQUENCE ACTIVITIES
Definition

The key benefit of this process is that it defines the logical sequence of work to obtain the greatest efficiency given all project constraints.

 

This process is performed throughout the project.

Term
6.4 ESTIMATE ACTIVITY DURATIONS
Definition

The key benefit of this process is that it provides the amount of time each activity will take to complete.

 

This process is performed throughout the project.

Term
6.5 DEVELOP SCHEDULE
Definition

The key benefit of this process is that it generates a schedule model with planned dates for completing project activities.

 

This process is performed throughout the project.

Term
6.6 CONTROL SCHEDULE
Definition

The key benefit of this process is that the schedule baseline is maintained throughout the project.

 

This process is performed throughout the project.

Term
7.1 PLAN COST MANAGEMENT
Definition

The key benefit of this process is that it provides guidance and direction on how the project costs will be managed throughout the project.

 

This process is performed once or at predefined points in the project.

Term
7.2 ESTIMATE COSTS
Definition

The key benefit of this process is that it determines the monetary resources required for the project.

 

This process is performed periodically throughout the project as needed.

Term
7.3 DETERMINE BUDGET
Definition

The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled.

 

This process is performed once or at predefined points in the project.

Term
7.4 CONTROL COSTS
Definition

 The key benefit of this process is that the cost baseline is maintained throughout the project.

 

This process is performed throughout the project.

Term
8.1 PLAN QUALITY MANAGEMENT
Definition

The key benefit of this process is that it provides guidance and direction on how quality will be managed and verified throughout the project.

 

This process is performed once or at predefined points in the project. 

Term
8.2 MANAGE QUALITY
Definition

The key benefits of this process are that it increases the probability of meeting the quality objectives as well as identifying ineffective processes and causes of poor quality. Manage Quality uses the data and results from the control quality process to reflect the overall quality status of the project to the stakeholders.

 

This process is performed throughout the project.

Term
8.3 CONTROL QUALITY
Definition

The key benefit of this process is verifying that project deliverables and work meet the requirements specified by key stakeholders for final acceptance. The Control Quality process determines if the project outputs do what they were intended to do. Those outputs need to comply with all applicable standards, requirements, regulations, and specifications.

 

This process is performed throughout the project.

Term
9.1 PLAN RESOURCE MANAGEMENT
Definition

The key benefit of this process is that it establishes the approach and level of management effort needed for managing project resources based on the type and complexity of the project.

 

This process is performed once or at predefined points in the project.

Term
9.2 ESTIMATE ACTIVITY RESOURCES
Definition

 The key benefit of this process is that it identifies the type, quantity, and characteristics of resources required to complete the project.

 

This process is performed periodically throughout the project as needed.

Term
9.3 ACQUIRE RESOURCES
Definition

The key benefit of this process is that it outlines and guides the selection of resources and assigns them to their respective activities.

 

This process is performed periodically throughout the project as needed.

Term
9.4 DEVELOP TEAM
Definition

The key benefit of this process is that it results in improved teamwork, enhanced interpersonal skills and competencies, motivated employees, reduced attrition, and improved overall project performance.

 

This process is performed throughout the project.

Term
9.5 MANAGE TEAM
Definition

The key benefit of this process is that it influences team behavior, manages conflict, and resolves issues.

 

This process is performed throughout the project.

Term
9.6 CONTROL RESOURCES
Definition

The key benefit of this process is ensuring that the assigned resources are available to the project at the right time and in the right place and are released when no longer needed.

 

This process is performed throughout the project.

Term
10.1 PLAN COMMUNICATIONS MANAGEMENT
Definition

The key benefit of this process is a documented approach to effectively and efficiently engage stakeholders by presenting relevant information in a timely manner.

 

This process is performed periodically throughout the project as needed.

Term
10.2 MANAGE COMMUNICATIONS
Definition

The key benefit of this process is that it enables an efficient and effective information flow between the project team and the stakeholders.

 

This process is performed throughout the project.

Term
10.3 MONITOR COMMUNICATIONS
Definition

The key benefit of this process is the optimal information flow as defined in the communications management plan and the stakeholder engagement plan.

 

This process is performed throughout the project.

Term
11.1 PLAN RISK MANAGEMENT
Definition

The key benefit of this process is that it ensures that the degree, type, and visibility of risk management are proportionate to both risks and the importance of the project to the organization and other stakeholders.

 

This process is performed once or at predefined points in the project.

Term
11.2 IDENTIFY RISKS
Definition

The key benefit of this process is the documentation of existing individual project risks and the sources of overall project risk. It also brings together information so the project team can respond appropriately to identified risks.

 

This process is performed throughout the project.

Term
11.3 PERFORM QUALITATIVE RISK ANALYSIS
Definition

The key benefit of this process is that it focuses efforts on high-priority risks.

 

This process is performed throughout the project.

Term
11.4 PERFORM QUANTITATIVE RISK ANALYSIS
Definition

The key benefit of this process is that it quantifies overall project risk exposure, and it can also provide additional quantitative risk information to support risk response planning.

 

This process is not required for every project, but where it is used, it is performed throughout the project.

Term
11.5 PLAN RISK RESPONSES
Definition

The key benefit of this process is that it identifies appropriate ways to address overall project risk and individual project risks. This process also allocates resources and inserts activities into project documents and the project management plan as needed.

 

This process is performed throughout the project.

Term
11.6 IMPLEMENT RISK RESPONSES
Definition

The key benefit of this process is that it ensures that agreed-upon risk responses are executed as planned in order to address overall project risk exposure, minimize individual project threats, and maximize individual project opportunities.

 

This process is performed throughout the project. 

Term
11.7 MONITOR RISKS
Definition

 The key benefit of this process is that it enables project decisions to be based on current information about overall project risk exposure and individual project risks.

 

This process is performed throughout the project.

Term
12.1 PLAN PROCUREMENT MANAGEMENT
Definition

The key benefit of this process is that it determines whether to acquire goods and services from outside the project and, if so, what to acquire as well as how and when to acquire it. Goods and services may be procured from other parts of the performing organization or from external sources.

 

This process is performed once or at predefined points in the project.

Term
12.2 CONDUCT PROCUREMENTS
Definition

The key benefit of this process is that it selects a qualified seller and implements the legal agreement for delivery. The end results of the process are the established agreements including formal contracts.

 

This process is performed periodically throughout the project as needed.

Term
12.3 CONTROL PROCUREMENTS
Definition

The key benefit of this process is that it ensures that both the seller’s and buyer’s performance meet the project’s requirements according to the terms of the legal agreement.

 

This process is performed throughout the project as needed.

Term
13.1 IDENTIFY STAKEHOLDERS
Definition

The key benefit of this process is that it enables the project team to identify the appropriate focus for engagement of each stakeholder or group of stakeholders.

 

This process is performed periodically throughout the project as needed.

Term
13.2 PLAN STAKEHOLDER ENGAGEMENT
Definition

The key benefit is that it provides an actionable plan to interact effectively with stakeholders.

 

This process is performed periodically throughout the project as needed.

Term
13.3 MANAGE STAKEHOLDER ENGAGEMENT
Definition

The key benefit of this process is that it allows the project manager to increase support and minimize resistance from stakeholders.

 

This process is performed throughout the project.

Term
13.4 MONITOR STAKEHOLDER ENGAGEMENT
Definition

The key benefit of this process is that it maintains or increases the efficiency and effectiveness of stakeholder engagement activities as the project evolves and its environment changes.

 

This process is performed throughout the project.

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