mo1 PM

.docx

School

Ivy Tech Community College, Northcentral *

*We aren’t endorsed by this school

Course

269

Subject

Management

Date

Apr 30, 2024

Type

docx

Pages

4

Uploaded by CoachResolveGiraffe20 on coursehero.com

M01 - Checking your knowledge about Project Management 1. What are two important concepts that help projects meet enterprise goals? Describe the differences between project management and project portfolio management. (5 Points) One important concept that helps projects meet enterprise goals is that projects have a well-defined objective or purpose. Another way that projects can help an enterprise meet its goals is by driving change. This gives the project value upon its completion. Project management is when product requirements are achieved by applying the appropriate information, skillsets, labour, tools, and procedures to the project at hand. Project management is typically focused achieving tactical goals which are short term goals that hone in on a few specific areas. Inversely, project portfolio management is focused on addressing concepts in a wider frame of view. These are typically longer termed goals with more broad targets. 2. Describe Strategic Project Management. (3 Points) Strategic project management is a project management approach that aligns a project’s activities and subsequent decisions with the strategic goals/objectives of the organization itself. This means that projects will be managed in a way that reflects the organization’s overall strategic vision, aligning with the business’s contexts and priorities instead of merely focusing narrowly on the individual project’s execution. 3. Describe the role that project management plays in improving the success rate of IT projects. (3 Points)
Project management plays a crucial role in improving the success rate of IT projects by providing a structure and ensuring efficacy throughout the project’s lifecycle. This includes time management, schedule management, scope management, resource management, risk management, communication management, budget management, etc. 4. What are the six traits of a highly effective Project Managers? (3 Points) Highly effective project managers according to the textbook, should be as follows: Be a strategic business partner. Encourage and recognize valuable contributions. Respect and motivate stakeholders. Be fully vested in success. Stress integrity and accountability. Work in the grey/be able to deal with ambiguity. 5. Why is there a Code of Ethics and Professional Conduct for Project Management? (5 Points) There is a code of ethics and professional conduct for project management in order to ensure there is respect for others in the work space and trust amongst collaborators. There will be ethical dilemmas to navigate and ethical decision making is a crucial function of the project manager. 6. What is a Project Stakeholder? What is the role of a Project Stakeholder in a project? (3 Points) A project stakeholder is anyone who is involved in the project or who will be affected by any of the project or its activities in some way. They can be internal or external and include support staff, team members, customers, competitors, suppliers, managers, etc.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help