Project management concepts

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24 Terms

1

Project definition

a temporary endeavor undertaken to create a unique product, service, or result

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2

temporary aspect of project definition

defined lifespan with a clear start and end

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unique aspect of project definition

create something that hasn’t been done before (due to location, environment, situation, people involved)

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4

Project management lifecycle stages

Feasibility

Planning

Execution / implementation

Closure / closing

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5

Feasibility stage (things that are achieved)

Project defined

Objectives established

Responsibilities are assigned

Project sponsor approves / denies project

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6

Planning stage (things that are achieved)

Plans are developed to determine activities, cost, quality etc.

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7

Execution stage (things that are achieved)

Product is produced

Determining changes that are necessary

Determine if project is on schedule, budget, and meeting specifications

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8

Closure stage (things that are achieved)

Delivery of product

Financial and legal closure

Commissioning and testing

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9

Iron triangle of constraints

Time

Cost

Quality

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10

Skills of a project manager

Sociocultural (leadership, teamwork, problem solving)

Technical (setting up schedules and budgets)

Contextual (understanding external and organisational environments of project)

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11

Purpose of projects

To solve a problem or meet a need of stakeholders

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12

Three step process of a project

Deliverables

Output

Outcome

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13

Deliverables of a project

items the project must deliver to be complete (e.g. exterior walls, foundation, electric work, the product itself)

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14

Output of a project

the finished product / service (e.g. hospital, tunnel, medical research)

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15

Outcome of a project

what is achieved by the final product (the purpose of the project e.g. improved public health, create more jobs)

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16

Key stakeholders involved in projects

Client

Sponsor

Project manager

Design consultants / technical advisers

Main contractor

Subcontractors

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17

Client

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