PMP Study – Part 2 – Project Management Overview

Describe a Project Life Cycle
(3 points)
1) The project life cycle consists of all the work required to bring a product to the market, or to make a service or process operational.
2) It consists of four stages – starting the project, organising and preparing, carrying out the work, closing the project
3) Each stage in the project life cycle has different characteristics in terms of cost and staffing levels, level of uncertainty, and the cost of changes
What are the different characteristics of the four stages of a project with reference to the following
- cost & staffing
- uncertainty
- cost of changes
What are the different characteristics of the four stages of a project with reference to the following
– cost & staffing
– uncertainty
– cost of changes
What activities are typically involved in the Starting the Project stage of a Project Life Cycle?
(7 points)
1) Determine the need for the project
2) Check project feasibility
3) Set project goals
4) May have to create a proposal and convince stakeholders
5) Decide what resources are needed
6) Create a budget
7) Appoint staff
What activities are typically involved in the Organising and Preparing stage of a Project Life Cycle?
(6 points)
1) Organising and preparing a project
2) Typically need to conduct research and use the results to design a prototype or service for testing
3) Prepare and implement a schedule
4) Identify targets within the project
5) Distribute tasks and resources to the team
6) Adjust members of the project team as needed
What activities are typically involved in the Carrying out the Work stage of a Project Life Cycle?
(4 points)
1) Getting materials and building
2) Producing a product or service
3) Testing quality and performance and making modifications if required
4) Preparing the product or service for delivery
What activities are typically involved in the Closing the Project stage of a Project Life Cycle?
(4 points)
1) Transferring the product or service to those that will maintain or use it
2) Completing contractual commitments
3) Rewarding the project team
4) Reassigning team members to new work and transferring resources.
Describe Stakeholder influence, risk and uncertainty levels and Cost of Changes across the 4 stages of a Project Life Cycle
Describe Stakeholder influence, risk and uncertainty levels and Cost of Changes across the 4 stages of a Project Life Cycle
What is a Product Life Cycle?
The product life cycle includes all the activities that take place from the creation of a product to the end of its production or use
What are the five stages of a Product Life Cycle?
What are the five stages of a Product Life Cycle?
1) Product inception & development
2) Market Introduction
3) Market growth
4) Market maturity
5) Sales decline
Describe the relationship between the Product and Project Life Cycles
(6 points)
1) A project life cycle and a product life cycle may run concurrently – more typically, however, a project life cycle will fall within the product life cycle
2) The product life cycle may include several project life cycles
3) A product life cycle can be completed during a single-phased project
4) Each stage of the product life cycle may contain one or more project life cycles
5) A project life cycle can exist independently of a product life cycle, run concurrently with it, or form part of the product life cycle
6) A single product life cycle can consist of many project life cycles
What are the characteristics of Project Phases?
(12 points)
1) Projects can have one or multiple phases
2) Output of a phase is a deliverable
3) Phases aren’t the same as stages and don’t have a natural 1-to-1 relationship with stages
4) Are sequential
5) Involve distinct work
6) Repeat project management processes
7) End with phase deliverable handoff and natural decision point
8) Have natural end points at which continued project viability is assessed
9) Phases commonly run sequentially but can overlap
10) The research, design and closing phases of a project usually align directly to life cycle stages
11) Phases often stop aligning with stages in the third stage “Carrying out the Work”
12) Phases can be divided in to subphases to make work easier to monitor and control
What is a sequential phase-to-phase relationship?
What is a sequential phase-to-phase relationship?
One phase is fully completed before the next phase starts. This ensures a project is carried out in a definite sequence but can add to the time it takes to complete a project
What is an overlapping phase-to-phase relationship?
What is an overlapping phase-to-phase relationship?
One phase starting before the previous phase finishes. This can help in speeding up a project but phases can’t overlap if one phase depends on accurate / complete information from a previous phase
What is an iterative phase-to-phase relationship?
What is an iterative phase-to-phase relationship?
Work is carried out while it is still in planning – the focus is on planning for the very near future. This technique is used for projects that are uncertain by nature e.g. research projects – as work progresses new information can lead to planning updates however uncertainty means all team members must be available at all times and is not suitable for projects that require long-term planning or strict control
What are Project Management Process Groups?
(6 points)
What are Project Management Process Groups?
(6 points)
1) A set of inter-related actions and activities performed to achieve a pre-specified product, result or service.
2) Are used to ensure each step in a process achieves the right result.
3) Processes are iterative (repeated during a project) – repeated feedback loops that allow additional analysis
4) Processes are not necessarily linear – they can overlap or run at the same time
5) Process groups span over the duration of the project, all of them usually occur in each phase of a project
6) The five process groups are – Initiating, monitoring & controlling, planning, executing and closing
What are the characteristics of the Initiating processes
(4 points)
1) Includes processes that help to start a new project or a new phase of a project
2) Involves defining new ideas and obtaining authorization to proceed with the project or phase
3) Tries to collect information that allows project or phase to start
4) Occurs only once in a single project or phase
What are the characteristics of the Monitoring & Controlling processes
(6 points)
1) Involves monitoring, reviewing and identifying any problematic areas, as well as initiating any necessary changes
2) Used to regulate and control a projects process
3) Regularly repeated throughout a project
4) Occurs from project start to close
5) Uses outputs from all other process groups so they can track whole project
6) Interacts with the other four process groups throughout a project
What are the characteristics of the Planning processes
(7 points)
1) Determines the scope and objectives of a project and helps to establish a better idea of project requirements
2) Occurs before Executing process groups start work
3) Plans are continually modified and updated as work progresses
4) Defines the plan and course of action for a project
5) If necessary alternative courses of action can be planned
6) Continues to iterate until all project or phase work is complete
7) Uses outputs from the Initiating process group (e.g. project charter) as an input for work
What are the characteristics of the Executing processes
(6 points)
1) Relates to performing the work that’s required to create the final output of a project
2) Focuses on managing the project team and communicating information to stakeholders
3) Typically uses up the most time and resources
4) Repeated as plans change throughout a phase or project
5) Uses outputs from the Planning process (e.g. PM plans) to carry out the work
6) Continue to iterate until all project or phase work is complete
What are the characteristics of the Closing processes
(3 points)
1) Processes in this group that aim to finalize all activities and contracts for a project or phase
2) Once project or phase objectives are met and work has been completed these processes ensure all loose ends are tied up
3) Occurs only once in a single project or phase
What are the five process groups?
1) Initiating
2) Monitoring & Controlling
3) Planning
4) Executing
5) Closing
What are the nine Knowledge areas?
1) Project Integration Management
2) Project Scope Management
3) Project Time Management
4) Project Cost Management
5) Project Quality Management
6)Project Human Resource Management
7) Project Communications Management
8) Project Risk Management
9 Project Procurement Management
What are the Project INTEGRATION Management processes and to which process groups do they belong?
(6 points)
1) Develop Project Charter (Initiating)
2) Develop Project Management Plan (Planning)
3) Direct & Manage Project Execution (Executing)
4) Monitor & Control Project Work (Monitoring & Controlling)
5) Perform Integrated Change Control (Monitoring & Controlling)
6) Close Project or Phase (Closing)
What are the Project SCOPE Management processes and to which process groups do they belong?
(5 points)
1) Collect Requirements (Planning)
2) Define Scope (Planning)
3) Create Work Breakdown Structure (Planning)
4) Verify scope (Monitoring & Controlling)
5) Control Scope (Monitoring & Controlling)
What are the Project TIME Management processes and to which process groups do they belong?
(5 points)
1) Define activities (Planning)
2) Sequence Activities (Planning)
3) Estimate Activity Resources (Planning)
4) Develop Schedule (Planning)
5) Control Schedule (Monitoring & Controlling)
What are the Project COST Management processes and to which process groups do they belong?
(3 points)
1) Estimate Cost (Planning)
2) Determine Budget (Planning)
3) Control Costs (Monitoring & Controlling)
What are the Project QUALITY Management processes and to which process groups do they belong?
(3 points)
1) Plan Quality (Planning)
2) Perform Quality Assurance (Executing)
3) Perform Quality Control (Monitoring & Controlling)
What are the Project HUMAN RESOURCE Management processes and to which process groups do they belong?
(4 points)
1) Develop Human Resource Plan (Planning)
2) Acquire Project Team (Executing)
3) Develop Project Team (Executing)
4) Manage Project Team (Executing)
What are the Project COMMUNICATIONS Management processes and to which process groups do they belong?
(5 points)
1) Identify Stakeholders (Initiating)
2) Plan Communications (Planning)
3) Distribute Information (Executing)
4) Manage Stakeholder Expectations (Executing)
5) Report Performance (Monitoring & Controlling)
What are the Project RISK Management processes and to which process groups do they belong?
(6 points)
1) Plan Risk Management (Planning)
2) Identify Risks (Planning)
3) Perform Qualitative Risk Analysis (Planning)
4) Perform Quantitative Risk Analysis (Planning)
5) Plan Risk Responses (Planning)
6) Monitor & Control Risks (Monitoring & Controlling)
What are the Project PROCUREMENT Management processes and to which process groups do they belong?
(5 points)
1) Plan Procurements (Planning)
2) Conduct Procurements (Executing)
3) Administer Procurements (Monitoring & Controlling)
4) Close Procurements (Closing)