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.
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| Characteristics of Project Life Cycle | Starting the project. Organizing and preparing. Carrying out the work. Closing the project.
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| Project Phases | Divisions within a project where extra control is needed to effectively manage the completion of a major deliverable.
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| Phase Structure | allows the project to be segmented into logical subsets for ease of management, planning, & control.
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| Project Governance | provides a comprehensive, consistent method of controlling the project and ensuring its success.
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| Sequential relationship | a phase can only start once the previous phase is complete
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| Overlapping relationship | the phase starts prior to completion of the previous one
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| 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.
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| Operations | work that is ongoing to produce repetitive results. It does not terminate when its current objections are met.
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| 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.
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| 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.
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| Customers/Users | persons or organizations that will use the project or service result
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| Sponsor | person or group that provides the financial resources for the project
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| Portfolio managers/portfolio review board | responsible for the high-level governance of a collection of projects or programs
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| Program Managers | responsible for managing related projects in a coordinated way to obtain benefits and control not available from managing them individually
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| Project Management Office | organizational body or entity assigned various responsibilities related to the centralized and coordinated management of those projects under its domain
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| Project Managers | assigned by the performing organization to achieve the project objectives
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| 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
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| Functional Managers | key individuals who play a management role within an administrative or functional area of the business
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| Operations Management | individuals who have a management role in a core business area - deal directly with producing and maintaining the saleable product or services
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| Sellers/Business Partners | vendors, suppliers, or contractors, are external companies that enter into a contractual agreement to provide components or services for the project
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| 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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