Epm5600 Week 1 Project Management Study Guide

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EPM5600

Principles of Project Management

Week 1 Discussion Questions:

1.What are the key characteristics of a project?
• The key characteristics of project are:
 Every project should not be repeated and should
 contain a unique characteristic.
 A project is temporary and as its own goal of completing a project in a specific time.
 The progressive elaboration is one the key role by which a project can be investigated and improved which allows producing more accurate and comprehensive plans.

2. What is Project Management, define?
• Project Management is primarily a management discipline able to be adapted by many different project types in almost any industry or discrete endeavour.

3.What are the 10 key learning areas of Project
…show more content…
Cost-To complete the task according to the budget given by the client.
Quality-The most important thing is to use the quality-based materials to do the task.
Procurement- The key role of this used for executing the project according to the agreement.
Human resources-The role is to maintain the human resources management plan.
Communications-To maintain the proper communication between the project manager and the employees.
Risk management-To maintain the environmental factors according to the task.
Stakeholder Management-To maintain the project documents according to the project management plan.

4.The Project Management processes falls into which 5 groups?
• The project management processes involve into five groups:
Initializing: This is the first phase in which the new project is initialized by obtaining the authorization to start the project.
Planning: Thin this stage the project manager plans how to complete the project with in the given time and budget.
Executing: Those processes to complete the project according to the project management plan to fulfil the specifications of the
…show more content…
• The Due Diligence is a process of evaluating the business project and it is performed when a project is to be delivered. It is used to protect the plans of all the clients and used in all other business process. The purpose of using this exercise is that it provides the business operations and project objectives of Australian Institute of Project Management to promote Informational Technology professionals.

7.What is a Project Management Plan?
• A project management is an application which is to be maintained by the knowledge and skills. The project manager should plan a task with a lot of planning he should be maintain patience towards the workers by upgrading with budget provided by the client and involves the safety issues of the employees and even maintaining the project requirements.

8.What are the key elements of a Project Management Plan?
• A best project management plan makes a project manager maintain the task and complete the task easier.
• The essential elements in the project plan to prevent the hit of the targets and to run the project smoothly from the start to the

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