Business Fundamentals- P.M.P Flashcards
1
Q
What is a policy?
A
System of guidelines adopted by organisation- influence decisions and behaviours
2
Q
What is a procedure?
A
Sequence of instructions
3
Q
Four stages of the Project Life Cycle?
A
1 Initiation phase
2 Planning phase
3 Execution phase
4 Closure/ Evaluation phase
4
Q
What happens during the initiation phase?
A
Objective for the project is identified, documented and communicated
5
Q
What happens during the planning phase?
A
Solution is developed and necessary steps are planned
6
Q
What happens during the execution phase?
A
Implemented- plans turn to action
7
Q
What happens during the closure/ evaluation phase?
A
Project concludes
Closing of contracts
Analyse performance
