PMP Review Notes (Chapter 1) – Projects Defined

March 8, 2010 · Posted in Don's eBook Report, Project Management 

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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