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Project - ANSWER ✔✔A temporary endeavor undertaken to create a
unique product, service, or result.
What are the five major characteristics of a project? - ANSWER ✔✔1.
Has an established objective.
2. Has a defined life span with a beginning and an end (finite).
3. Involves several departments and professionals.
4. Involves doing something never been done before.
5. Has specific time, cost, and performance requirements.
,Difference between project and regular operations/business as usual. -
ANSWER ✔✔Project is finite (defined start and defined end), does
not go on forever, typically used to create unique product or service,
there is a deliverable.
Examples of routine, repetitive work. - ANSWER ✔✔Taking class
notes, daily entering sales receipts into the accounting ledger,
responding to a supply-chain request, maintenance of a building.
Examples of projects. - ANSWER ✔✔Writing a term paper, setting up
a sales kiosk for a professional accounting meeting, developing a
supply-chain information system, construction of a new building or road,
renovation of a building, advertisement, film making.
What are the project management dimensions? - ANSWER
✔✔Scope, schedule, cost.
Program - ANSWER ✔✔A group of related projects designed to
accomplish a common goal over an extended period of time.
Program Management - ANSWER ✔✔A process of managing a
group of ongoing, interdependent, related projects in a coordinated way
to achieve strategic objectives.
,Example of a project vs program. - ANSWER ✔✔Project: completion
of a required course in project management. Program: completion of all
courses required for a business major.
Project Life Cycle phases. - ANSWER ✔✔Defining, planning,
executing, closing (start to end).
Waterfall/Traditional Project Management: Life Cycles - ANSWER
✔✔All life cycle phases get done one by one.
Agile Project Management: Life Cycles - ANSWER ✔✔Doing all life
cycle phases basically at the same time and quickly.
Project Life Cycle: Defining - ANSWER ✔✔1. Goals
2. Specifications
3. Tasks
4. Responsibilities
Project Life Cycle: Planning - ANSWER ✔✔1. Schedules
2. Budgets
3. Resources
4. Risks
5. Staffing
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, Project Life Cycle: Executing - ANSWER ✔✔1. Status reports
2. Changes
3. Quality
4. Forecasts
Project Life Cycle: Closing - ANSWER ✔✔1. Train customer
2. Transfer documents
3. Release resources
4. Evaluation
5. Lessons learned
Project Manager - ANSWER ✔✔•Manages temporary, non-repetitive
activities and frequently acts independently of the formal organization.
•Marshals resources for the project.
•Is the direct link to the customer.
•Works with a diverse troupe of characters.
•Provides direction, coordination, and integration to the project team.
•Is responsible for performance and success of the project.