Module 2A
What is the largest phase in the project life cycle
Planning
Define SMART Goals
Specific
Measurable
Achievable
Realistic
Time-Bound
What does the project plan start with?
Inputs from the project charter and stakeholder analysis.
What % or resource commitment does the PM have?
80%
Who has the least amount of time commitment?
Executive Sponsor
Define cost management?
Cost management is the defining how the project costs will be estimated, budgeted, managed, monitored and controlled
What are the 2 elements of a project plan that we focused on in Module 2
WBS/Project Plan
Budget
Give 1 example of an Organizational Process Asset (OPA)
Procedures
Templates
Guidelines
Manuals
Databases
Files
Give at least 1 example of Enterprise Environmental Factors (EFF)
Company Culture
Human Resources
Business Laws
Technological Evolution
Define Risk Management.
•The process of identifying project risks, measuring potential impact/probability of occurrence/detectability, and developing a mitigation plan to proactively address issues.