Stages of Project Management

Question 1

5 Stages of Project Management

Answer 1

1. Initiation (conception)
2. Planning
3. Execution
4. Monitoring (controlling)
5. Closing

Question 2

10 Areas Touched by Project Management

Answer 2

1. Integration
2. Scope
3. Time
4. Cost
5. Quality
6. Procurement
7. Human Resources
8. Communication
9. Risk management
10. Stakeholder management

Question 3

Project Initiation or Conception

Answer 3

The first stage of turning an abstract idea into a meaningful goal. In this stage, you need to develop a business case and define the project on a broad level.

Question 4

Project charter or Project Initiation Document (PID)

Answer 4

Outlines the purpose and requirements of the project. It should include business needs, stakeholders, and the business case. (don’t include technical details)

Question 5

Project Planning

Answer 5

Developing a roadmap that everyone will follow. This phase typically begins with setting goals. During this phase, the scope of the project is defined and a project management plan is developed. It involves identifying the cost, quality, available resources, and a realistic timetable. The project plans also includes establishing baselines or performance measures. These are generated using the scope, schedule and cost of a project. A baseline is essential to determine if a project is on track.

Question 6

S.M.A.R.T goal setting

Planning

Answer 6

S - Specific
M - Measurable
A - Attainable
R - Realistic
T - Timely

Question 7

Specific

Planning - SMART

Answer 7

To set specific goals, answer the following questions: who, what, where, when, which, and why.

Question 8

Measurable

Planning - SMART

Answer 8

Create criteria that you can use to measure the success of a goal.

Question 9

Attainable

Planning - SMART

Answer 9

Identify the most important goals and what it will take to achieve them.

Question 10

Realistic

Planning - SMART

Answer 10

You should be willing and able to work toward a particular goal.

Question 11

Timely

Planning - SMART

Answer 11

Create a timeframe to achieve the goal.

Question 12

6 documents used in project planning

Planning - Documents

Answer 12

1. Scope statement
2. Work Breakdown Schedule (WBS)
3. Milestones
4. Gantt chart
5. Communications plan
6. Risk management plan

Question 13

Scope Statement

Planning - Documents

Answer 13

A document that clearly defines the business need, benefits of the project, objectives, deliverables, and key milestones. A scope statement may change during the project, but it shouldn’t be done without the approval of the project manager and the sponsor.

Question 14

Work Breakdown Schedule (WBS)

Planning - Documents

Answer 14

This is a visual representation that breaks down the scope of the project into manageable sections for the team.

Question 15

Milestones

Planning - Documents

Answer 15

Identify high-level goals that need to be met throughout the project and include them in the Gantt chart.

Question 16

Gantt Chart

Planning - Documents

Answer 16

A visual timeline that you can use to plan out tasks and visualize your project timeline.

Question 17

Communications Plan

Planning - Documents

Answer 17

This is of particular importance if your project involves outside stakeholders. Develop the proper messaging around the project and create a schedule of when to communicate with team members based on deliverables and milestones.

Question 18

Risk Management Plan

Planning - Documents

Answer 18

Identify all foreseeable risks. Common risks include unrealistic time and cost estimates, customer review cycle, budget cuts, changing requirements, and lack of committed resources.

Question 19

Project Execution

Answer 19

This is the phase where deliverables are developed and completed. This often feels like the meat of the project since a lot is happening during this time, like status reports and meetings, development updates, and performance reports. A “kick-off” meeting usually marks the start of the Project Execution phase where the teams involved are informed of their responsibilities.

Question 20

Tasks to be completed in Project Execution

Answer 20

• Develop team
• Assign resources
• Execute project management plans
• Procurement management if needed
• PM directs and manages project execution
• Set up tracking systems
• Task assignments are executed
• Status meetings
• Update project schedule
• Modify project plans as needed

Question 21

Project Monitoring/Performance

Answer 21

This is all about measuring project progression and performance and ensuring that everything happening aligns with the project management plan. Project managers will use key performance indicators (KPIs) to determine if the project is on track.

Question 22

Key Performance Indicators

Answer 22

• Project Objectives: Measuring if a project is on schedule and budget is an indication if the project will meet stakeholder objectives.
• Quality Deliverables: This determines if specific task deliverables are being met.
• Effort and Cost Tracking: PMs will account for the effort and cost of resources to see if the budget is on track. This type of tracking informs if a project will meet its completion date based on current performance.
• Project Performance: This monitors changes in the project. It takes into consideration the amount and types of issues that arise and how quickly they are addressed. These can occur from unforeseen hurdles and scope changes.

Question 23

Project Closure

Answer 23

This phase represents the completed project. Once the project is complete, PMs still have a few tasks to complete. They will need to create a project punchlist of things that didn’t get accomplished during the project and work with team members to complete them. Perform a final project budget and prepare a final project report. Finally, they will need to collect all project documents and deliverables and store them in a single place.