v C176: Business of IT Project Management - Key Terms (WGU), Exam Review, latest update. VERIFIED.

C176: Business of IT Project Management - Key Terms (WGU), Exam Review, latest update. VERIFIED. A Guide to the Project Management Body of Knowledge (PMBOK Guide) Project - -A temporary endeavor that has definite beginning and end dates, and it results in a unique product, service, or result. It is considered a success when the goals it sets out to accomplish are fulfilled the the stakeholders are satisfied with the results. project criteria - -unique, temporary, reason or purpose, stakeholder satisfaction Program - -a group of related projects that are managed together using coordinated processes and techniques. Portfolio - -Collection of programs, subportfolios, and projects that support strategic business goals or objectives. Operations - -Ongoing functions that support the production of goods or services. PMBOK Guide - -Project management standards are documented here, published by the Project Management Institute (PMI) Functional Organization - -A hierarchical organization where each employee has one clear superior, and staff are grouped by areas of specialization and managed by a person with expertise in that area. Matrix organization - -Typically organized along departmental lines, like a functional organization, but resources assigned to a project are accountable to the project manager (s) they are reporting to. strong, weak, balanced - -the three types of matrix organization