Day 5 Flashcards
What is the purpose of a Project Closure?
To finalize all project activities, ensure deliverables are accepted, and transition ownership to the customer.
What are the key activities in project closure?
Formal acceptance of deliverables, contract closure, releasing resources, documenting lessons learned, and archiving project information.
Why do projects or phases close prematurely?
Due to changes in business needs, regulatory issues, financial constraints, or unforeseen risks.
What is Benefits Realization?
The process of ensuring that the project’s intended benefits are achieved and sustained after closure.
What are Transition/Handover Readiness activities?
Ensuring the customer is ready for change through training, documentation, and post-implementation support.
What is a Lessons Learned Register?
A document capturing project successes, challenges, and recommendations for future improvements.
What are the different types of knowledge in project management?
Explicit knowledge (documented) and Tacit knowledge (experience-based, informal knowledge sharing).
What is a Continuous Improvement (CI) approach?
A systematic effort to enhance processes, efficiency, and product quality through small incremental changes or major improvements.
What are common CI methodologies?
Lean, Six Sigma, Kaizen, Plan-Do-Check-Act (PDCA), and Agile Retrospectives.
What is Earned Value Management (EVM)?
A technique to measure project performance using cost, schedule, and scope metrics.
What is Schedule Performance Index (SPI)?
A measure of schedule efficiency calculated as SPI = EV/PV.
What is Cost Performance Index (CPI)?
A measure of cost efficiency calculated as CPI = EV/AC.
What is a Burn Chart?
A visual representation of work completed (burnup) or work remaining (burndown) in an iteration.
What is a Kanban Board?
A tool used in Agile to visualize work progress and manage workflow.
What are the key components of Risk Monitoring?
Identifying new risks, reassessing current risks, updating mitigation plans, and ensuring risk response effectiveness.
What is an Issue Log?
A document tracking project issues, their owners, and resolution progress.
What is Change Management in projects?
A structured approach for managing modifications to scope, schedule, and costs.
What are the four types of Change Requests?
Corrective action, Preventive action, Defect repair, and Baseline changes.
What is the Change Control Process?
A structured procedure for submitting, evaluating, and approving/rejecting project changes.
What is the role of a Change Control Board (CCB)?
A group responsible for evaluating and approving major change requests.
What are the key aspects of Vendor and Contract Management?
Managing contracts, tracking vendor performance, resolving disputes, and ensuring compliance.
What is Quality Assurance?
The proactive process of ensuring that project processes meet quality standards.
What is Quality Control?
The reactive process of inspecting and testing deliverables to ensure they meet quality requirements.
What are common Quality Control tools?
Checklists, Pareto Charts, Control Charts, Scatter Diagrams, and Cause-and-Effect Diagrams.
What is Scope Validation?
The process of ensuring that completed deliverables meet stakeholder expectations and are formally accepted.
What is a Responsibility Assignment Matrix (RAM)?
A tool that defines project roles and responsibilities, often using the RACI model.
What is a Performance Dashboard?
A visual tool displaying key project metrics, such as budget, schedule, and quality performance.
What are examples of Agile Artifacts?
Product backlog, Sprint backlog, Burndown chart, Definition of Done (DoD), and Retrospective findings.
What is the importance of Stakeholder Communication in project closure?
Ensuring all stakeholders are informed, expectations are managed, and final reports are shared.
What is Procurement Closure?
The formal process of finalizing and closing vendor contracts.
What is Business Value Assessment?
Analyzing project outcomes to ensure they align with strategic objectives and deliver expected benefits.
How do you ensure Knowledge Transfer in project closure?
Through documentation, training, mentoring, and Communities of Practice (CoP).
What are typical indicators of project success?
Meeting scope, budget, and schedule targets, stakeholder satisfaction, and achieving business benefits.
