PMP Review Notes (Chapter 1) – Projects Defined
Projects
- Temporary in nature
- Have definite start dates and definite end dates
- Completed when goals and objectives are accomplished to the satisfaction of the stakeholders
- Exist to bring about a product, service, or result that didn’t exist before
- Unique
Progressive Elaboration
- Improves the project team’s ability to manage greater levels of detail that allows for the inevitable change that occurs throughout the project lifecycle
- Goes along with the temporary and unique aspects of a project because when you first start the project you don’t know all the minute details of the end product
- Product characteristics typically start our broad-based at the beginning of the project and are progressively elaborated inot more and more detail over time until they are complete and finalized
- Exam Spotlight – Most often used when creating the project or product scope, developing requirements, determining human resources, scheduling and defining risks and their mitigation plans
Operations
- Ongoing and repetitive
- Involve work that is continuous without and ending date
- Often processes are repeated and produce the same results
- Purpose is to keep the organization functioning, compare to projects which has the purpose of meeting goals and concluding
Stakeholders
- Individuals or organizations with a vested interest in project
- Includes people who are actively involved in the work of the project or have something to either gain or lose from the result of the project
Project Sponsor
- Generally an executive in the organization with the authority to assign and enforce decisions regarding the project
- A stakeholder
- Generally serves as a tie-breaker decision maker and is one of the people in the PM’s escalation path
Project Characteristics
- Unique
- Temporary in nature and have a definite beginning and ending date
- Completed when the project goals are achieved or it’s determined the project is no longer viable
- Considered successful when it meets or exceeds the expectations of stakeholders
Reference:
PMP Project Management Professional Exam Study Guide, Includes Audio CD
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