2 Project Life Cycle

Question 1

What is a product life cycle?

Answer 1

The series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement.

Question 2

What is a project life cycle?

Answer 2

The series of phases that a project passes through from its start to its completion.

Question 3

How do projects differ from operations?

Answer 3

Projects are temporary initiatives creating a unique output, whereas operations are ongoing. Changes in operations may be the focus of a project. Ongoing operations are outside of the scope of a project.
PMBOK® Guide 6th Edition, Page 4, 16

Question 4

What is a stakeholder?

Answer 4

An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio.

Question 5

Who is the project sponsor?

Answer 5

A person or group who provides resources and support for the project, program, or portfolio and is accountable for enabling success.

Question 6

Describe a functional organizational structure

Answer 6

An organizational structure in which staff is grouped by areas of specialization and the project manager has limited authority to assign work and apply resources.
PMBOK® Guide 6th Edition, Page 47

Question 7

Describe an organic or simple organizational structure

Answer 7

An organic or simple organizational structure is people working side-by-side. There is little to no project manager authority.
PMBOK® Guide 6th Edition, Page 47

Question 8

Describe a matrix organizational structure

Answer 8

Any organizational structure in which the project manager shares responsibility with the functional managers for assigning priorities and for directing the work of persons assigned to the project.
A matrix organization that is closer to a functional organization is a “weak matrix”. A matrix organization that is closer to a project-oriented organization is a “strong matrix”.
PMBOK® Guide 6th Edition, Page 47

Question 9

Describe a project-oriented (composite-hybrid) organizational structure

Answer 9

An organizational structure that arrange work groups by network structure with nodes at points of contact with other people. The organization may have full-time staff from different functional departments that could work on projects and in operations. The organization may also have dedicated project managers, project staff and a PMO.
PMBOK® Guide 6th Edition, Page 47