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CAPM Chapter 2

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Project Life Cycle   A Collection of generally sequential and sometimes overlapping project phases whose name and number are determined by the management and control needs of the organization involved in the project, the nature of the project itself. Provides basic framework.  
Characteristics of Project Life Cycle   Starting the project. Organizing and preparing. Carrying out the work. Closing the project.  
Project Phases   Divisions within a project where extra control is needed to effectively manage the completion of a major deliverable.  
Phase Structure   allows the project to be segmented into logical subsets for ease of management, planning, & control.  
Project Governance   provides a comprehensive, consistent method of controlling the project and ensuring its success.  
Sequential relationship   a phase can only start once the previous phase is complete  
Overlapping relationship   the phase starts prior to completion of the previous one  
Iterative relationship   only one phase is planned at any given time and the planning for the next is carried out as work progresses on the current phase and deliverables.  
Operations   work that is ongoing to produce repetitive results. It does not terminate when its current objections are met.  
Types of Projects   Developing a new product or service. Installing products or services. Internal projects that will affect the structure, staffing, culture. Developing or enhancing information.  
Stakeholders   Persons or organizations who are actively involved in the project or whose interests are positively or negatively affected by the performance of the project.  
Customers/Users   persons or organizations that will use the project or service result  
Sponsor   person or group that provides the financial resources for the project  
Portfolio managers/portfolio review board   responsible for the high-level governance of a collection of projects or programs  
Program Managers   responsible for managing related projects in a coordinated way to obtain benefits and control not available from managing them individually  
Project Management Office   organizational body or entity assigned various responsibilities related to the centralized and coordinated management of those projects under its domain  
Project Managers   assigned by the performing organization to achieve the project objectives  
Project team   is comprised of the PM, PM team, and other team members who carry out the work but who are not necessarily involved with management of the project  
Functional Managers   key individuals who play a management role within an administrative or functional area of the business  
Operations Management   individuals who have a management role in a core business area - deal directly with producing and maintaining the saleable product or services  
Sellers/Business Partners   vendors, suppliers, or contractors, are external companies that enter into a contractual agreement to provide components or services for the project  
Organizational Process Assets   include any or all process related assets involved in the project that can be used to influence the project's success  


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Created by: jkline on 2011-02-22

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