Question: Project

Answer: A Project can be defined as a

endeavor undertaken to create a

product, result or service.

Question: Major Characteristics of a Project

Answer:

Question: Project Vs Operations

Answer: An operation is different from a project in the following way:

It does not create a unique product, service or a result.

It does not have a definite beginning and an end.

Question: Project Stakeholder

Answer:

Question: Examples of Project Stakeholders

Answer: - Project Manager

• Project Sponsor

• - Customer

• - Business Partners

• - Executive Managers

• - Organizational Groups

• - Vendors

• - Functional Managers

• - Project Management Office

• - Consultants to the project

• Question: Project Management

• Answer: is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

• Question: The Triple Constraint (Iron Triangle)

• Answer: The framework for evaluating the competing demands (time, cost, scope) of a project

• Question: The 5 Basic Project Phases

• Answer: 1. Initiating,

• 2. Planning,

• 3. Executing,

• 4. Monitoring Controlling

• 5. Closing

• Question: - The need is identified. An appropriate response to the need is determined and described. (Where the Project actually begins)

• - The major deliverables and the participating work groups are identified. The team begins to take shape.

• - Issues of feasibility (Can we do the project?) and justification (Should we do the project?) are addressed.

• Answer: Phase 1: Initiation

• Question: Phase 2: Planning

• Answer: