Project Management Study|| Latest Update
Project Management Study
Project - ANS-a temporary undertaking that has a definite beginning and an end and
something that has a distinct and definitive purpose. It is undertaken to create a unique
product, service or result.
Gannt Chart - ANS-Created in 1910
Program Evaluation and Review Technique (PERT) - ANS-created in 1958 as part of
the Polaris missile submarine program. Later extended to create WBS
Project Management - ANS-The a methodical approach to planning and guiding project
processes from start to finish to bring about the successful completion of specific project
goals and objectives. The processes are guided through five stages: initiation, planning,
execution, controlling and closing.
5 stages of project management - ANS-1. Initiation
2. Planning
3. Execution
4. Controlling
5. Closing
5 Impacts of Project Management - ANS-1. Business advantage
2. competitive advantage
3. accurate and timely information to keep competitive edge
4. clear roles and responsibilities helps minimize conflicts and confusion
5. Effective communication
Scope - ANS-provides the parameters within which you do the project
Process areas - ANS-First the project initiation state, the project planning or design
stage, project execution or production stage, the project monitoring and controlling
systems and project completion
Reasons for initiating and approving a project - ANS-1. Opportunity
a. Market demands
b. technological advances
2. Challenges - customer requests and social needs
3. Business Requirements
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, Project Management Study|| Latest Update
Role of the PM - ANS-executing a vision through: Planning, Execution, Monitoring,
Control, Closure.
in Project planning:
Identify & document project requirements
Build the project team
Establish clear project objectives
Understand stakeholders' expectations
Prevent unnecessary scope changes
Ensure team understands project objectives
Develop project plans
Project Success Factors - ANS-- Strong Executive Support
- Plenty of User Involvement
- An Experienced Project Manager
- Clear Business Objectives
Key challenges to success - ANS-1. Lack of Planning
2. Lack of Resources- Skills, Time, Money
3. Scope Creep
Elements for PM - ANS-1. PM elements- process groups, processes
2. Life cycles- linear, iterative, adaptive, and agile
3. Phases- life cycle phases for reviews, milestone, and deliverables
4. Organizations-
Successful elements of PM - ANS-A process is a set of related actions directed at
accomplishing a specific result, e.g., to estimate project costs, create a plan, collect
requirements. Knowledge is required in multiple areas, e.g., managing people, time,
cost, risk, and communications
Processes and Process Groups - ANS-1. Initiating-
2. Planning- : develop a project management plan, estimate costs, plan communications
3. Executing- direct execution of the project, procure materials and services
4. Monitoring and Controlling- : report on project performance, control cost and
schedule
5. Closing- bring project activities to a close, obtain final approval from customer
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Project Management Study
Project - ANS-a temporary undertaking that has a definite beginning and an end and
something that has a distinct and definitive purpose. It is undertaken to create a unique
product, service or result.
Gannt Chart - ANS-Created in 1910
Program Evaluation and Review Technique (PERT) - ANS-created in 1958 as part of
the Polaris missile submarine program. Later extended to create WBS
Project Management - ANS-The a methodical approach to planning and guiding project
processes from start to finish to bring about the successful completion of specific project
goals and objectives. The processes are guided through five stages: initiation, planning,
execution, controlling and closing.
5 stages of project management - ANS-1. Initiation
2. Planning
3. Execution
4. Controlling
5. Closing
5 Impacts of Project Management - ANS-1. Business advantage
2. competitive advantage
3. accurate and timely information to keep competitive edge
4. clear roles and responsibilities helps minimize conflicts and confusion
5. Effective communication
Scope - ANS-provides the parameters within which you do the project
Process areas - ANS-First the project initiation state, the project planning or design
stage, project execution or production stage, the project monitoring and controlling
systems and project completion
Reasons for initiating and approving a project - ANS-1. Opportunity
a. Market demands
b. technological advances
2. Challenges - customer requests and social needs
3. Business Requirements
Page 1
, Project Management Study|| Latest Update
Role of the PM - ANS-executing a vision through: Planning, Execution, Monitoring,
Control, Closure.
in Project planning:
Identify & document project requirements
Build the project team
Establish clear project objectives
Understand stakeholders' expectations
Prevent unnecessary scope changes
Ensure team understands project objectives
Develop project plans
Project Success Factors - ANS-- Strong Executive Support
- Plenty of User Involvement
- An Experienced Project Manager
- Clear Business Objectives
Key challenges to success - ANS-1. Lack of Planning
2. Lack of Resources- Skills, Time, Money
3. Scope Creep
Elements for PM - ANS-1. PM elements- process groups, processes
2. Life cycles- linear, iterative, adaptive, and agile
3. Phases- life cycle phases for reviews, milestone, and deliverables
4. Organizations-
Successful elements of PM - ANS-A process is a set of related actions directed at
accomplishing a specific result, e.g., to estimate project costs, create a plan, collect
requirements. Knowledge is required in multiple areas, e.g., managing people, time,
cost, risk, and communications
Processes and Process Groups - ANS-1. Initiating-
2. Planning- : develop a project management plan, estimate costs, plan communications
3. Executing- direct execution of the project, procure materials and services
4. Monitoring and Controlling- : report on project performance, control cost and
schedule
5. Closing- bring project activities to a close, obtain final approval from customer
Page 2
