CompTIA Project+ Study Guide. Heldman Kim

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      46. D. The three-point estimating technique averages the most likely, optimistic, and pessimistic estimates to determine an overall cost or duration estimate. For more information, please see Chapter 7.

      47. D. Project managers share authority with functional managers in a matrix organization. For more information, please see Chapter 2.

      48. B. Cost estimates do not have a quality factor built into them. They are provided by team members, and the accuracy of the estimate depends on the estimating technique used. All the estimates are used as inputs to the budget to come up with the total project cost. For more information, please see Chapter 7.

      49. B. The sponsor is the one who must sign off on the completion of the project, whether successful or unsuccessful. Just as the sponsor is authorized to expend resources to bring forth the project’s deliverables, the sponsor must also close the project and sign off. For more information, please see Chapter 10.

      50. B. This describes a Scrum meeting, also known as a daily standup meeting, which is part of the Agile methodology. For more information, please see Chapter 9.

      Chapter 1

      Initiating the Project

      THE COMPTIA PROJECT+ EXAM TOPICS COVERED IN THIS CHAPTER INCLUDE

      

1.1 Summarize the properties of a project.

      ■ Temporary

      ■ Start and finish

      ■ Unique

      ■ Reason/purpose

      ■ Project as part of a program

      ■ Project as part of a portfolio

      

1.5 Identify common project team organizational structures.

      ■ Functional

      ■ Resources reporting to functional manager

      ■ Project manager has limited or no authority.

      ■ Matrix

      ■ Authority is shared between functional managers and project managers.

      ■ Resources assigned from Functional area to project

      ■ Project manager authority ranges from weak to strong.

      ■ Projectized

      ■ Project manager has full authority.

      ■ Resources report to project manager.

      ■ Ad hoc resources

      

Your decision to take the CompTIA Project+ exam is an important step in your career aspirations. Certification is important for project managers because many employers look for project management certification in addition to real-life experience and evidence of formal education from job applicants. This book is designed to provide you with the necessary concepts to prepare for the Project+ exam. Much of the information here will be based on the Knowledge Areas documented in A Guide to the Project Management Body of Knowledge (PMBOK Guide^®) published by the Project Management Institute (PMI^®). The book will include tips on how to prepare for the exam, as well as examples and real-world scenarios to illustrate the concepts.

      This chapter will cover the definitions and characteristics of a project, provide a high-level overview of project management, describe the difference between a program and a portfolio, and explain how organizations are structured.

      Defining the Project

      Projects exist to bring about or fulfill the goals of the organization. Most projects benefit from the application of a set of processes and standards known as project management. Let’s start with some fundamental questions.

      ■ What makes a new assignment a project?

      ■ How do you know if you are working on a project?

      ■ What distinguishes a project from an operational activity?

      Projects involve a team of people, and so do day-to-day business activities. They both involve following a process or a plan, and they both result in activities that help reach a goal. So, what is so different about a project? Let’s explore all of these questions in the following sections.

      Identifying the Project

      A project is a temporary endeavor that has definite beginning and ending dates, and it results in a unique product, service, or result. A project is considered a success when the goals it sets out to accomplish are fulfilled and the stakeholders are satisfied with the results.

      Projects also bring about a product, service, or result that never existed before. This may include creating tangible goods, implementing software, writing a book, planning and executing an employee appreciation event, constructing a building, and more. There is no limit to what can be considered a project as long as it fits the following criteria:

      Unique A project is typically undertaken to meet a specific business objective. It involves doing something new, which means that the end result should be a unique product or service. These products may be marketed to others, may be used internally, may provide support for ongoing operations, and so on.

      Temporary Projects have definite start and end dates. The time it takes to complete the work of the project can vary in overall length from a few weeks to several years, but there is always a start date and an end date.

      Reason or Purpose A project comes about to fulfill a purpose. This might include introducing a new product, fulfilling a business objective or strategic goal, satisfying a social need, and any number of other reasons. It’s important to document and communicate the purpose and reasons for the project so that team members remain focused on achieving the goals of the project.

      Stakeholder Satisfaction A project starts once it’s been identified, the objectives have been outlined in the project charter, and appropriate stakeholders have approved the project plan. A project ends when those goals have been met to the satisfaction of the stakeholders.

      Once you’ve identified the project, you’ll validate the project (we’ll cover this topic in the section “Validating the Project” later in this chapter) and then write the project charter and obtain approval for the charter. We’ll talk in more detail about the project charter in Chapter 3, “Creating the Project Charter.”

      Programs and Portfolios

      Projects are sometimes managed as part of a program or portfolio. A program is a group of related projects that are managed together using coordinated processes and techniques. The collective management of a group of projects can bring about benefits that wouldn’t be achievable if the projects were managed separately.

      Portfolios are collections of programs, subportfolios, and projects that support strategic business goals or objectives. Unlike programs, portfolios may consist of projects that are not related.

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