1.5 - Project Management

Question 1

Elements of a Project Charter

Answer 1

1. Justification, purpose, or need for a project
2. Organizational and project objectives
3. Cost benefit analysis
4. Key stakeholders
5. High-level risks
6. High-level constraints or boundaries
7. Budget summary
8. Critical milestones
9. Criteria for success
10. Authority of the project manager and others as required

Question 2

Actions in the “Close” phase of a project

Answer 2

The close phase implementation requires the project manager to (Russell 2007):

1. Meet with the project sponsor for project evaluation feedback.
2. Work with the customer to clarify a roll-out timeline for the team.
3. Train the customer, as needed.
4. Reallocate staff to their next project.
5. Publish a post-project review and meet with stakeholders to discuss ways to make future projects more efficient and effective.
6. Archive pertinent artifacts (project charter, project plan) for use on future projects.
7. Consider creating a shared project archive for the organization.
8. Celebrate with the entire team.

Question 3

Phases of a Project

Answer 3

1. Initiate or start the project, including writing a charter.
2. Plan or determine the schedule, required resources, and budget.
3. Manage, execute, or control the work in progress, provide feedback, and resolve differences.
4. Close or end the project, including documentation and holding a project review.

Question 4

Elements of the Initiate Phase of Project Management

Answer 4

1. Establish organizational objectives.
2. Establish the project scope
3. Identify project objectives.
4. Identify risks. This identifies potential events that could influence the objectives or the timeline.
5. Identify constraints. These are the components that control the project, such as time, cost, and quality.
6. Identify stakeholders.
7. Establish a governance plan.

Question 5

Elements of the “Plan” phase of project management

Answer 5

1. Determine key milestones.
2. Establish a schedule. The schedule is created by totaling the estimated completion time each task requires to reach a completion date.
3. Assigning resources. Resources include two components: team members and required physical items.
4. Create a budget.
5. Create a communication plan. The communications plan is critical for keeping all stakeholders informed.
6. Develop a risk management plan.
7. Develop a change management plan (describing how change requests will be approved and assimilated into the overall plan.)

The plan phase ends with a completed project plan and culminates in agreement of how the project will be completed and monitored by the project sponsor aided by the project manager.

Question 6

Elements of the “Manage” phase of a project

Answer 6

1. Control work in progress. Tracking, reviewing, and reporting progress
2. Provide status and feedback to stakeholders
3. Resolve conflict.
4. Manage change. Because it is impossible to anticipate everything that may occur during a project, it is helpful to have a process for how changes are addressed. It is critical to document changes in writing.
5. Leverage governance. (Using the governance plan created in the charter helps guide who decides what to do about requested changes.)
6. Manage risk.

Question 7

Elements of the “Close” phase of a project

Answer 7

Close is the last phase, finalizing all the project actions including these tasks:

1. Transition by turning over deliverables.
2. Hold a post-project review.
3. Finalize documentation. Work with team members to create and complete the list of things that were not accomplished during the project, prepare a final budget report, and complete the final report.
4. Celebrate accomplishments. Recognize the team and the contributions of everyone involved.