17 Questions
What is the primary purpose of a Business Case?
Evaluating the benefit, cost, and risk of alternative options
Which term describes any unauthorized additions to a project's scope?
Scope Creep
What becomes the principal project deliverables in Requirement Management?
Requirements
Who are considered Stakeholders in a project?
People or organizations interested and involved in the project
What is the purpose of Record Keeping in project management?
Capturing formal and disciplined data about the project
What is the main purpose of Scope Management in a project?
Developing the description of the project and its deliverables
Which term is used to describe any scope that is added without validation in a project?
Scope Creep
In a construction project, who are the primary players involved?
Owner, designers, contractor
What is the key focus of Requirement Management in project management?
Capturing and assessing stakeholders' wants and needs
What do records represent in project management?
The physical and digital data required for accurate documentation
What does Stakeholder Management primarily involve?
Formal management of stakeholders' interests
What are the primary duties of the owner in the construction industry?
Creating the overall budget, developing the program, and determining the project scope
Which term is used to describe construction work performed by the general contractor's own forces or labor?
Self-performed work
Who are included in the second level of influence in construction projects?
Insurance companies and utility companies
What is the role of design professionals in the construction process?
Engaging in project design
What is the primary responsibility of constructors in construction activities?
Overseeing all construction activities
What is the purpose of the planning process in construction projects?
Delivering a competitive edge to organizations
Study Notes
Business Case and Project Management
- The business case is the justification for undertaking a project, evaluating the benefit, cost, and risk of alternative options, and the rationale for the preferred solution.
- Scope Management involves developing the project description and its deliverables.
- Scope Creep refers to any added scope that is not validated.
Project Stakeholders
- Stakeholders are people or organizations interested and involved in the project.
- Stakeholder Management involves formally managing stakeholders' interests.
- The primary players in a construction project are:
- Owner: accountable for developing the program, outlining needs, determining the project scope, creating the budget, and providing funding.
- Design professionals (architects and engineers): responsible for different parts of the project design.
- Construction professionals (general contractors, construction managers, or specialty contractors): responsible for all construction activities.
Secondary Players
- First-level players:
- Subcontractors
- Material suppliers
- Equipment vendors
- Second-level players:
- Insurance companies
- Utility companies
- Bonding companies
- Building code officials
- Zoning
- Labor unions
- Manufacturers
- Third-level players:
- Courts and attorneys
- Local government
- State and federal government
- Trade associations
- Education and training
- Bankers
Planning and Project Objectives
- Planning involves identifying the methods, resources, and activities necessary to accomplish the project's objectives.
- It determines how, when, and which project deliverables must be achieved in order to deliver a competitive edge.
- Planning is the process of delivering a desired outcome from raw materials and other resources.
Learn about the Business Case, Scope Management, Scope Creep, and Requirement Management in project management. Understand the importance of evaluating benefits, costs, and risks in project justification, as well as the process of defining project deliverables and managing stakeholder requirements.
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