Project Management Basics

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Questions and Answers

What defines a project according to the Project Management Institute?

A project is a temporary endeavor undertaken to create a unique product, service, or result.

List two major characteristics that differentiate a project from other organizational efforts.

An established objective and a defined life span with a beginning and an end.

How does a program differ from a project?

A program is a group of related projects designed to accomplish a common goal over an extended period of time.

Why might organizations prefer to manage projects under a program?

Managing projects under a program provides benefits such as coordination and prioritization towards a common goal. Signup and view all the answers

What role does a project manager play within a program?

Each project within a program has its own project manager responsible for the project's specific goals and scope. Signup and view all the answers

Describe how the time span between a program and a project typically differs.

Programs usually encompass a longer time span, while projects have a defined beginning and end. Signup and view all the answers

What are specific requirements that projects must often meet?

Projects typically have specific time, cost, and performance requirements. Signup and view all the answers

In a pharmaceutical program for curing cancer, what is a key function of the cancer team?

The cancer team oversees the selection and prioritization of cancer projects included in their portfolio. Signup and view all the answers

What are the four stages of the project life cycle?

The four stages are defining, planning, executing, and closing. Signup and view all the answers

During which stage of the project life cycle is the project specification defined?

The project specification is defined during the defining stage. Signup and view all the answers

How does the level of effort change throughout the project life cycle?

The level of effort starts slowly, peaks during executing, and then declines towards the closing stage. Signup and view all the answers

What key activities are involved in the closing stage of a project?

Key activities include delivering the project product to the customer, redeploying project resources, and conducting a post-project review. Signup and view all the answers

Why is careful planning important in project management?

Careful planning is important to manage projects effectively across different stages and ensure resource availability. Signup and view all the answers

What is the primary focus during the executing stage of a project?

The primary focus during the executing stage is on producing the physical product and monitoring time, cost, and specifications. Signup and view all the answers

What might the design team plan during the defining stage?

The design team might plan a major commitment of resources during the defining stage. Signup and view all the answers

What role does a project manager play in a project?

A project manager plans, schedules, motivates, and controls the project activities. Signup and view all the answers

In the planning stage, what aspects are determined for the project?

Aspects such as project scope, schedule, beneficiaries, quality level, and budget are determined. Signup and view all the answers

Study Notes

Definition of a Project

A project is a temporary endeavor aimed at creating a unique product, service, or result.
The primary goal is to fulfill a customer’s needs.

Characteristics of a Project

An established objective must be clear.
Defined life span with a specific beginning and end is mandatory.
Involvement of multiple departments and professionals is common.
Projects typically involve executing tasks never undertaken before.
Each project is governed by specific time, cost, and performance constraints.

Program vs. Project

Programs consist of a group of related projects aimed at fulfilling a common goal over a longer time frame.
Each project under a program is managed by a project manager.
Programs differ from projects in terms of scale and duration.
Program management entails coordinating ongoing, interdependent projects to achieve strategic objectives, enhancing effectiveness.

Project Life Cycle

Projects progress through a predictable life cycle model, which reflects changes in focus and effort.
Common stages of the project life cycle include defining, planning, executing, and closing.

Stages of the Project Life Cycle

Defining Stage:
- Project specifications and objectives are established.
- Teams are formed, and responsibilities are assigned.
Planning Stage:
- Efforts increase as plans outline project scope, schedule, beneficiaries, quality standards, and budget.
Executing Stage:
- The bulk of project work occurs, including production of deliverables (e.g., reports, software).
- Use of time, cost, and specifications for ongoing monitoring.
Closing Stage:
- Involves delivering the final product to the customer, redeploying project resources, and conducting post-project reviews.
- Customer training and documentation transfer are part of the delivery process.

Importance of Project Management

Effective planning and management at both project and organizational levels are critical given the concurrent nature of multiple projects.
Project managers blend functions of planning, scheduling, motivating, and controlling, mimicking broader managerial roles.

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Description

Explore the fundamental principles of project management, including the definition, characteristics, and goals of a project. This quiz will help you understand what differentiates a project from other organizational endeavors and how it aims to satisfy customer needs.