What is the Project Life Cycle (PLC)?

The sequential phases of a project that lead to its completion (initiating, planning, executing, monitoring & controlling, closing).

What are some common project management processes?

(Examples can include) Identify Stakeholders, Estimate Costs, Manage Risk, Manage Quality, Manage Communications.

What are some pre-work activities conducted before a project is formally initiated?

Business Case, Feasibility Study, Statement of Work (SOW)

What factors are assessed in a Feasibility Study?

Technical, financial, and economic feasibility of the project. It considers risks, benefits, and available resources.

What does a Statement of Work (SOW) define?

The scope, objectives, and work required to achieve project goals. It includes who, what, how, and when of the project tasks.

What does a project life cycle describe?

The sequence of stages a project goes through from start to finish (initiation to closure). Stages and names may vary depending on the methodology.

Chapter 3

Project Management Fundamentals and Core Concepts

What does a project life cycle describe?

The sequence of stages a project goes through from start to finish (initiation to closure). Stages and names may vary depending on the methodology.

Why are projects broken down into phases?

To manage uncertainty and complexity of large projects. Phases allow project managers to see the big picture while focusing on completing tasks one phase at a time.

What does a Statement of Work (SOW) define?

The scope, objectives, and work required to achieve project goals. It includes who, what, how, and when of the project tasks.

What is the purpose of a Business Case document?

To justify a project to stakeholders by demonstrating potential return on investment (ROI) and its impact on the organization.

What factors are assessed in a Feasibility Study?

Technical, financial, and economic feasibility of the project. It considers risks, benefits, and available resources.

What does a Statement of Work (SOW) define?

The scope, objectives, and work required to achieve project goals. It includes who, what, how, and when of the project tasks.

What is the Project Life Cycle (PLC)?

The sequential phases of a project that lead to its completion (initiating, planning, executing, monitoring & controlling, closing).

What are some common project management processes?

(Examples can include) Identify Stakeholders, Estimate Costs, Manage Risk, Manage Quality, Manage Communications.

What are some pre-work activities conducted before a project is formally initiated?

Business Case, Feasibility Study, Statement of Work (SOW)

What factors are assessed in a Feasibility Study?

Technical, financial, and economic feasibility of the project. It considers risks, benefits, and available resources.

What does a Statement of Work (SOW) define?

The scope, objectives, and work required to achieve project goals. It includes who, what, how, and when of the project tasks.

What does a project life cycle describe?

The sequence of stages a project goes through from start to finish (initiation to closure). Stages and names may vary depending on the methodology.

Chapter 3

Project Management Fundamentals and Core Concepts

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May 2024

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