Podcast
Questions and Answers
What is the primary purpose of a Business Case?
What is the primary purpose of a Business Case?
- Developing the project description and deliverables
- Managing stakeholders' interests
- Evaluating the benefit, cost, and risk of alternative options (correct)
- Capturing stakeholders' wants and needs
Which term describes any unauthorized additions to a project's scope?
Which term describes any unauthorized additions to a project's scope?
- Scope Creep (correct)
- Stakeholder Management
- Requirement Management
- Scope Management
What becomes the principal project deliverables in Requirement Management?
What becomes the principal project deliverables in Requirement Management?
- Business Case
- Requirements (correct)
- Stakeholders' interests
- Scope Creep
Who are considered Stakeholders in a project?
Who are considered Stakeholders in a project?
What is the purpose of Record Keeping in project management?
What is the purpose of Record Keeping in project management?
What is the main purpose of Scope Management in a project?
What is the main purpose of Scope Management in a project?
Which term is used to describe any scope that is added without validation in a project?
Which term is used to describe any scope that is added without validation in a project?
In a construction project, who are the primary players involved?
In a construction project, who are the primary players involved?
What is the key focus of Requirement Management in project management?
What is the key focus of Requirement Management in project management?
What do records represent in project management?
What do records represent in project management?
What does Stakeholder Management primarily involve?
What does Stakeholder Management primarily involve?
What are the primary duties of the owner in the construction industry?
What are the primary duties of the owner in the construction industry?
Which term is used to describe construction work performed by the general contractor's own forces or labor?
Which term is used to describe construction work performed by the general contractor's own forces or labor?
Who are included in the second level of influence in construction projects?
Who are included in the second level of influence in construction projects?
What is the role of design professionals in the construction process?
What is the role of design professionals in the construction process?
What is the primary responsibility of constructors in construction activities?
What is the primary responsibility of constructors in construction activities?
What is the purpose of the planning process in construction projects?
What is the purpose of the planning process in construction projects?
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.
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Description
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.