S01: Fundamentals of Project Management

Question 1

What is a project?

Answer 1

It’s a temporary endeavour undertaken to create a unique product, service or result.

Question 2

Projects are done for:

Answer 2

• Business reasons
• Legal requirements
• Health & safety requirements
• Personal reasons
• Social reasons

Question 3

business requirement(s)

Answer 3

The reason(s) for doing a project

Question 4

A project has a:

Answer 4

• Scope: The actions (results): what needs to be done?
• Time: By when?
• Quality: To what level (standards)
• Cost: How much?
• Projects have a finite length, involve a number of activities and people, and have deadlines and fixed budgets.

Question 5

A project is usually deemed to be a success if

Answer 5

it achieves the objectives according to their acceptance criteria, within an agreed timescale and budget.

Question 6

What is project management?

Answer 6

Project management, is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.