Lesson 1 Flashcards
is a temporary endeavor undertaken to create a unique product, service, or result.
Project
indicates a definite beginning and end.
Project
project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists.
Project
- Projects are unique.
- Projects are temporary in nature and have a definite beginning and ending date.
- Projects are completed when the project goals are achieved or it’s determined the project is no longer viable.
Project Characteristics
the budget approved for the project including all necessary expenses needed to deliver the project.
Cost
all the work involved in delivering the project outcomes and the processes used to produce them; reason and purpose of the product.
Scope
the standards and criteria to which the project’s products must be delivered for them to perform effectively.
Quality
potential external events that will have a negative impact on your project.
Risk
refers to the combination of the probability the event will occur and the impact on the project if the event occurs.
Risk
If the combination of the probability of the occurrence and the impact on the project is too high, you should identify the potential event as a risk and put a proactive plan in place to manage the risk.
Risk
required to carry out the project tasks.
Resources
proper control of the schedule requires the careful identification of tasks to be performed and accurate estimations of durations, the sequence of activities to be done, and how people and other resources are to be allocated.
Time
often the most frequent project oversight in developing projects, reflected in missed deadlines and incomplete deliverables.
Time
schedule should take into account vacations and holidays.
Time
application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
Project Management
