Lecture 2 Flashcards
(23 cards)
What are the five essential phases of the project management life cycle?
Initiating, Planning, Executing, Monitoring & controlling and closing.
PMBOK Knowledge areas and process groups?
It describes what project managers needs to know , process group describes what a project manager needs to do.
What is project life cycle?
The series of phases a project goes through from its initiation to its closure.
Project life cycle “initiating”?
when a project is proposed, planned at a high level, and key participants commit to it in broad terms.
Project life cycle “planning”?
Includes detailed planning and ends when all stakeholders accept entire detailed plans.
Project life cycle “Executing”?
includes authorizing, executing, monitoring, and controlling work until the customer accepts the project deliverables.
Project life cycle “Closing”?
all activities after customer acceptance to ensure the project is completed, lessons are learned, resources are reassigned, and contributions are recognized.
who do you define Project Success?
Cost, schedule and customer requirements are met. Stakeholder and customers satisfaction Quality of delivery Team satisfaction Benefits of realization Capture for future Projects
How do you define project failure?
Any project that fails to meet time, budget, quality targets and benefits presented in the business case is considered a failure.
Reasons why project fails.
Requirements: Unclear, lack of agreement, lack of priority, contradictory, ambiguous, imprecise.
Resources: Lack of resources, resource conflicts, turnover of key resources, poor planning.
Schedules: Too tight, unrealistic, overly optimistic.
Planning: Based on insufficient data, missing items, insufficient details, poor estimates.
Risks: Unidentified or assumed, not managed
What are the key steps for initiating the project?
develop a business case, undertake a feasibility study, establish the project charter, appoint the project team, set up the project office, perform a phase review .
What is the project charter?
An informal contract between the project team and sponsor.
What is the contract?
An agreement entered into freely by two or more parties.
Why is the project charter needed?
Authorize - Project manager to proceed
Understanding - Among the project team and sponsor.
Commit - Help project team and sponsor commit.
Screen out poor project.
What is the project plan?
an agreement entered into freely by two or more parties.
What does the project plan includes?
All of the phases, activities and tasks Effort needed to complete tasks All of the project inter-dependencies Planning assumptions and constraints Detailed project planning schedule
Who are stakeholders?
A stakeholder is an individual, group, or organization who may affect, be affected by or perceive itself to be affected by a decision, activity, or outcome of a project.”
types of stakeholders?
Internal & external.
Who are internal stakeholders?
These stakeholders are internal to the organization.
Example
A sponsor
An internal customer or client (if the project arose due to an internal need of an organization)
A project team
Who are external stakeholders?
These stakeholders are external to the organization. Example:
An external customer or client (if project arose due to a contract)
An end user of project’s outcome
A supplier
Subcontractors
What are PMs Stakeholder Responsibility?
Understand the stakeholders,
Build relationships with stakeholders,
Develop a communications plan for ,dealing with stakeholders
What is stake holders analysis?
the process of identifying all people or organizations impacted by the project, and documenting relevant information regarding their interests, involvement, and impact on project success.
What steps are included in stake holders analysis?
Identify,
Analyze,
Document.
