10. Introduction To Project Management

Question 1

What is a project?

Answer 1

An undertaking that has a beginning and an end and is carried out to meet established goals within cost, schedule and quality objectives.

Question 2

What is project management?

Answer 2

The integration of all aspects of a project, ensuring that the proper knowledge and resources are available when and where needed, and ove all to ensure that the expected outcome is produced in a timely, cost-effective manner.

The primary function of a project manager is to manage the trade-offs between performance, timeliness and cost.

Question 3

What is Maylor’s (2005) Iron Triangle?

Answer 3

Scope
Time
Cost

Question 4

What are the stages of the project life cycle?

Answer 4

1. Identification of a need
2. Development of a solution
3. Implementation
4. Completion

Question 5

What is a feasibility study?

Answer 5

Considers whether the project can achieve the desired results in a cost-effective manner. It should consider:

1. Technical feasibility
2. Social feasibility
3. Ecological feasibility
4. Financial feasibility

Question 6

What is a Project Initiation Document (PID)?

Answer 6

Consists of a statement of requirements, confirmation of what the scope of the project is (and what falls outside the scope) and a business case

Question 7

What is a project management plan?

Answer 7

Outlines how the project will be planned, monitored and implemented. It is used as a reference tool for both project execution and project control.

Question 8

What is a milestone?

Answer 8

A clearly identifiable event that illustrate how far the project has progressed. Milestones are set at the planning stage.

Question 9

What is a control gate?

Answer 9

A milestone which can only be passed through if specific criteria are met. On reaching a control gate, the project sponsor or steering committee reviews the progress of the project and decides whether to continue with, or terminate, the project.

Question 10

What is PRINCE2?