project management Master your project management Organize, execute, succeed!

Essential flashcards for mastering project management in construction.

1. Flashcard 1: front: What is the definition of a project? back: A project is any endeavor that has an identifiable beginning and end, with time being an important element (not a continuous indefinite repetitive production process), and cost being an important element with clearly defined monetary constraints that must be met as part of the project objective.

2. Flashcard 2: front: What does project management involve according to the Project Management Body of Knowledge (PMBOK)? back: Project management involves planning, organizing, leading, and controlling resources to meet the cost, quality, and time requirements of a specific project.

3. Flashcard 3: front: What knowledge areas must a project manager be able to manage beyond the traditional time, quality, and cost triangle? back: A project manager must manage all knowledge areas including technical work, human resources, finance, public relations, marketing, information distribution and documentation, and procurement.

4. Flashcard 4: front: What are the key functional areas in which general management principles apply to project management? back: The key functional areas are technical work, human resources, finance, public relations, marketing, information distribution and documentation, and procurement.

5. Flashcard 5: front: Name three personal qualities that characterize an effective project manager. back: An effective project manager is an excellent communicator, a rational thinker, and a motivator of the highest order.

6. Flashcard 6: front: What is programme management? back: Programme management is a group of projects managed in a coordinated way to obtain benefits and control not available from managing them individually.

7. Flashcard 7: front: How is portfolio management defined? back: Portfolio management is a collection of projects or programmes and other work grouped together to facilitate effective management to meet strategic business objectives.

8. Flashcard 8: front: List three negative results of ineffective project management. back: Missed deadlines, cost overruns, and poor quality.

9. Flashcard 9: front: What are the four possible patterns of project management mentioned? back: Management by crisis (pro-acting), management by confusion (ineffective), management by drives (rush to finish off), and management by efficiency and effectiveness (project manager is in control).

10. Flashcard 10: front: What is the "project management dilemma"? back: The dilemma involves balancing time, cost, and quality, all of which are driven by the project’s scope.

11. Flashcard 11: front: What does the project scope include? back: The project scope includes what the project includes, excludes, its context, and limitations.

12. Flashcard 12: front: Name six common project constraints. back: Time (schedule), scope, quality, budget, resources, and risk.

13. Flashcard 13: front: What role does a project manager play in project work? back: A project manager plans and organizes the work, manages day-to-day activities, identifies potential stakeholders, and delivers project deliverables to the client.

14. Flashcard 14: front: What is a project life cycle? back: A project life cycle is the whole life of a project broken into distinguishable and manageable stages or phases.

15. Flashcard 15: front: Why is a stage considered a "mini-project" in a project life cycle? back: Because it breaks the project into manageable pieces that are easier to control than handling the entire project at once.

16. Flashcard 16: front: What is a project milestone? back: A project milestone is a review point after a phase to approve progression to the next phase; also known as a gate.

17. Flashcard 17: front: List the four phases of a typical project life cycle. back: Initiation phase, planning phase, execution phase, and closeout phase.

18. Flashcard 18: front: What key documents or activities are included in the initiation phase? back: Need identification (define project), feasibility study, proposal presentation, and project charter.

19. Flashcard 19: front: What activities are typically completed during the planning phase? back: Scope statement, design (work plan), resource acquisition, costing, scheduling, communication channel setup, risk management, and procurement.

20. Flashcard 20: front: What happens during the execution phase? back: Supervision, meetings and reporting, communication management, resource acquisition, and change control requested by stakeholders.

21. Flashcard 21: front: What occurs in the closeout phase? back: Inspection, compliance certification, and preparation of the closeout report.

22. Flashcard 22: front: Why is early change in a project life cycle less costly? back: Because the cost of change is minimal at the early stage of the project.

23. Flashcard 23: front: What is scope creep? back: Scope creep is uncontrolled changes that can impact the project negatively.

24. Flashcard 24: front: What are common causes of scope creep? back: Unclear scope, incomplete design, incomplete project documentation, and project constraints such as finances, societal, and environmental issues.

25. Flashcard 25: front: When is risk highest during the project life cycle? back: Risk is highest at the start of the project.

26. Flashcard 26: front: In which phase are cost and resources most heavily utilized? back: During the execution phase.

27. Flashcard 27: front: Who is the principal stakeholder in every project? back: The client is the principal stakeholder whose needs dictate the entire focus of the project.

28. Flashcard 28: front: Name three other typical stakeholders in a project besides the client. back: Joint venture partners, municipality, and labour unions.

29. Flashcard 29: front: Why can the community be considered an important stakeholder? back: Because they often have an impact on the delay of the project.

30. Flashcard 30: front: What are the four overall deliverables any project must achieve? back: Deliverables related to scope, time, cost, and quality.

31. Flashcard 31: front: What is the purpose of a project charter? back: To formally kick off the project, eliminating the possibility of starting in a haphazard manner.

32. Flashcard 32: front: List five typical contents of a project charter. back: Project name and number, project purpose, client, source of project funding, and project manager & proposed core team.

33. Flashcard 33: front: What is a Work Breakdown Structure (WBS)? back: A WBS indicates the sub-projects, work packages, and activities of the project, along with reporting relationships.

34. Flashcard 34: front: What is the purpose of a Work Breakdown Structure? back: To describe all work to be done, confirm scope, define activities and responsibilities, define reporting relationships, and provide budgeting and scheduling.

35. Flashcard 35: front: Name four project selection methods. back: Net Present Value (NPV), Benefit to Cost Ratio or Profitability Index (PI), Payback Period, and Return on Investment (ROI).

36. Flashcard 36: front: How is Net Present Value (NPV) calculated? back: NPV = Present Value of Benefits – Present Value of Costs.

37. Flashcard 37: front: What does it mean if NPV is greater than 0? back: The project is profitable.

38. Flashcard 38: front: How is Return on Investment (ROI) calculated? back: ROI = (Expected Income / Initial Investment) × 100.

39. Flashcard 39: front: Which project should be chosen when comparing Return on Investment? back: The project with the highest Return on Investment (ROI).

40. Flashcard 40: front: What is the significance of the JBCC in project management in South Africa? back: JBCC is used as the contract manual in South Africa.