DIG 3521 midterm

What defines a project?

A project is a sequence of unique, complex, and connected activities having one goal or purpose, which must be completed by a specific time, within budget, and according to specification.

What are the characteristics of activities within a project?

Activities must be unique, complex, connected, and ordered based on technical requirements.

What does it mean for activities in a project to be unique?

Unique activities are different in nature each time they are executed, preparing for random variation.

What distinguishes complex activities from simple tasks in a project?

Complex activities are multi-layered and not simple, repetitive tasks.

What does it mean for activities to be connected in a project?

Connected activities have a logical or technical relationship, where the output of one activity serves as the input to another.

Why must a project have a singular goal?

A project must have a single goal to accurately define its purpose, and this can be divided into sub-projects with sub-goals for better control.

How does the specific time frame influence a project?

Projects are temporary with a clear start and end date, distinguishing them from ongoing business operations.

What are the budgetary considerations in project management?

Projects have resource limits, including money, personnel, or equipment, which necessitate careful allocation.

What does 'according to specifications' imply in project management?

It means that the project deliverables must meet certain expectations of functionality and quality as required by the client.

What is a program in the context of project management?

A program is a collection of related projects that can have multiple goals.

What is a portfolio in project management?

A portfolio is a collection of programs that share some common link to one another.

What allows projects to exist within different quadrants of the project landscape?

The quadrant indicates whether the project's goals are clear or not, guiding the Project Management Life Cycle (PMLC) model.

What is project time management?

Project time management involves planning and controlling the schedule to ensure timely completion of the project.

What is the role of a project manager?

A project manager oversees the planning, execution, and closing of a project, ensuring it meets goals and stays within budget.

What is a work breakdown structure (WBS)?

A WBS is a hierarchical decomposition of a project into manageable sections, organized into tasks and subtasks.

What is stakeholder analysis?

Stakeholder analysis is the process of identifying project stakeholders and assessing their influence and interests.

What is project quality management?

Project quality management ensures that the project's deliverables meet the required standards and satisfy stakeholder expectations.

What is the purpose of a project feasibility study?

A feasibility study assesses the practicality and viability of a project, studying its potential success before initiation.

What is a communication plan in project management?

A communication plan outlines how project information will be shared among stakeholders, ensuring effective communication throughout the project.

What does resource allocation involve?

Resource allocation is the process of assigning available resources in an efficient manner to various project tasks.

What is risk management in project management?

Risk management involves identifying, analyzing, and responding to project risks to minimize their impact.

What is the significance of a project charter?

A project charter formally authorizes a project, outlining its objectives, scope, stakeholders, and key roles.

What is the difference between a project and operations?

Projects are temporary endeavors with specific goals, while operations are ongoing activities aimed at sustaining business.

What is change management in the context of projects?

Change management is the process of managing alterations to the project scope, schedule, or resources.

What is the importance of stakeholder engagement?

Stakeholder engagement ensures that stakeholders are informed, involved, and their needs are considered, leading to project success.

What is the purpose of a project schedule?

A project schedule outlines when project tasks will be performed and establishes timelines for achieving project milestones.

What role do key performance indicators (KPIs) play in project management?

KPIs are measurable values that help assess project performance and progress against strategic objectives.

What is the concept of 'scope creep'?

Scope creep refers to the uncontrolled expansion of project scope without adjustments to time, cost, and resources.

What is project closure?

Project closure is the final phase of a project where deliverables are handed over, and the project is formally concluded.

Why is team collaboration important in projects?

Team collaboration enhances communication, creativity, and problem-solving, which are vital for project success.

What is the role of a project stakeholder?

A project stakeholder is any individual or organization that can affect or be affected by the project outcomes.

What is stakeholder management?

Stakeholder management is the process of managing the expectations and interests of stakeholders to ensure project success.

What is the significance of project deliverables?

Project deliverables are the tangible or intangible outcomes produced by a project, essential for meeting project goals.

What does a project scope statement include?

A project scope statement includes project objectives, deliverables, milestones, and the work required to complete the project.

What is the importance of project monitoring and control?

Project monitoring and control ensure the project stays on track, meets budget constraints, and achieves quality standards.

What is a Gantt chart?

A Gantt chart is a visual project management tool that displays the project schedule, showing start and end dates for tasks.

What is the purpose of a project status report?

A project status report provides stakeholders with insights into project progress, issues, and any necessary adjustments.

What defines project success?

Project success is typically defined by meeting project objectives on time, within budget, and to the satisfaction of stakeholders.

What is the role of communication in project management?

Communication is essential in project management for ensuring all stakeholders are informed, engaged, and aligned on project goals and progress.

What is project scope management?

Project scope management involves defining and controlling what is included and excluded in the project, ensuring all work aligns with project objectives.

What are project assumptions?

Project assumptions are factors that are considered true or certain for the project planning, but may not be verified.

What is the purpose of the project kick-off meeting?

The project kick-off meeting is held to align stakeholders on the project objectives, roles, and expectations, and to engage the team.

What is the difference between qualitative and quantitative risk analysis?

Qualitative risk analysis assesses risks based on their impact and likelihood using subjective assessment, while quantitative risk analysis uses numerical methods to evaluate risks.

What are mitigating strategies in risk management?

Mitigating strategies are proactive measures taken to reduce the likelihood or impact of identified risks on a project.

What is change control in project management?

Change control is a process used to ensure that all changes to the project scope, schedule, or budget are documented, reviewed, and approved.

What is the significance of project stakeholder mapping?

Stakeholder mapping helps identify the influence and interests of stakeholders, aiding in communication and engagement strategies.

What is a project baselines?

Project baselines are approved versions of the project's scope, schedule, and cost that serve as benchmarks for measuring performance.

What is agile project management?

Agile project management is an iterative approach to managing projects that focuses on flexibility and customer satisfaction through adaptive planning.

What is the purpose of a project plan?

A project plan outlines the project's objectives, timelines, resources, responsibilities, and strategies to achieve the goals.

What does resource leveling involve?

Resource leveling is the process of adjusting the project schedule to balance resource demand and supply.

What are critical path methods (CPM)?

CPM is a project management technique used to determine the longest stretch of dependent activities and measure the time needed to complete them.

What is the role of a project sponsor?

The project sponsor is a senior executive who provides direction, resources, and support for the project.

What is project risk assessment?

Project risk assessment involves evaluating the potential risks that could impact a project’s success and determining their likelihood and impact.

What is the significance of a project timeline?

A project timeline provides a visual representation of the schedule, illustrating when tasks should be completed to stay on track.

What is earned value management (EVM)?

EVM is a project management technique that combines scope, schedule, and resource measurements to assess project performance and progress.

What is the purpose of a lessons learned document?

A lessons learned document captures the experiences and insights gained throughout a project to improve future projects.

What is a project kickoff?

A project kickoff is an initial meeting held to communicate project goals, roles, and expectations to all stakeholders.

What is the distinction between project assumptions and constraints?

Project assumptions are factors believed to be true for planning, while constraints are limitations that affect project execution.