A high-level estimate of the cost

An approximate calculation of the financial resources required for the project.

A high-level estimate of the completion time

An approximate calculation of the time needed to finish the project.

The reason that the project should be undertaken

The justification or purpose for initiating the project.

Benefits of completing the project for the company

The company will gain specific benefits by completing the project.

Resources needed for the project

Identify what resources will be needed for the project.

Risks that could derail the project

Consider any risks that could potentially derail the project.

Major stakeholders and their roles

Identify major stakeholders and their roles in the project.

Increase in global activities

Consider the impact of an increase in global activities on the project.

Decision-making by customers or stakeholders

Understand where decisions are made by the deciding customer or stakeholder.

Purpose of a project charter

The project charter defines and documents the project’s existence.

Project selection process

Information feeds the project selection process and is documented in the project charter if selected.

The planning phase is when the detailed planning of the project occurs after the project is selected.

The project planning phase involves detailed planning tailored to the project's complexity.

The project planning phase is when detailed planning occurs, aligning with the project's complexity to ensure stakeholder satisfaction and project success.

Work Breakdown Structure is often used in project planning.

A Work Breakdown Structure is used to detail the work that needs to be completed in the project planning phase.

Additional resources are required in the project planning phase.

The project planning phase requires additional resources because people with specific knowledge need to advise on the plan.

The planning phase documents information about each activity.

The planning phase documents information about each activity necessary for the project's success.

Complex projects may require more planning time.

Depending on the project's complexity, the planning phase may require a large amount of time.

Example of a project: building a multistory office building.

In a project to build a multistory office building, the defining phase clarifies the building's size, general cost, and expected revenues.

Image of people working on project plans and documents

The image shows a group of people collaborating on project plans and documents, illustrating teamwork in the planning phase.

Planning phase involves drawing and approving specific blueprints, estimating materials and labor costs, and identifying work activities and tasks.

Together, these elements result in a reliable scope, budget, and schedule that can be approved and executed.

The end of the planning phase is marked by the approval of scope, budget, and schedule.

These approvals create baselines used to measure project performance throughout execution.

The executing phase is when the bulk of the work to complete project outcomes occurs.

This phase is based on plans created during the project planning phase, where the project team completes required work activities.

Project outcomes can be tangible or intangible products.

Tangible products include buildings, textbooks, gaming systems, or training manuals. Intangible products include software programs, websites, or events.

Intermediate outcomes from work activities are often referred to as deliverables.

Deliverables are specific outcomes that help achieve the main project goal, such as obtaining a location for a restaurant.

The importance of work breakdown in project management.

Work breakdown helps ensure that budget, schedule, and scope expectations are met, and progress is monitored.

Role of the project manager in maintaining project progress.

The project manager takes corrective action if expectations are not being met and reports status to the team and customer.

Office environment with people working at desks.

Image of a collaborative office space where team members are engaged in work activities.

Executing phase may require adjustments to budget, schedule, or scope if objectives aren't met.

During the executing phase, adjustments may be needed if the project's objectives aren't met, requiring a return to the planning phase.

Importance of managing scope creep during the executing phase.

Scope creep involves adding functionality without considering the project's impact, which can affect time, resources, and budget.

Completion of the project executing phase.

The executing phase is complete when all project work activities are finished and ready for delivery to the customer or sponsor.

Project closing phase involves delivering outcomes to the customer or sponsor.

The customer or sponsor evaluates the deliverables for acceptance, ensuring budget and time requirements are met, quality is achieved, and lessons learned are documented.

Image of a person handing over a package.

Illustrates the concept of delivering project outcomes to a customer or sponsor.

Tasks for the project manager during project closure.

Reassign resources, document results and lessons, close procurement activities, and verify project transition to the customer.

What happens when projects officially end?

The project manager and team move on to other assignments, and they may not be available for documentation or invoice approvals.

Team experience during a project can improve future project success.

Documenting lessons learned helps the host organization learn from both positive and negative experiences.

Customer may identify items to be corrected during the closing phase.

This may require the team to replan and execute revised activities to satisfy customer expectations.

Two things mark the end of the project closing phase.

1. Customer’s acceptance of the project outcome. 2. Host organization’s acceptance of all project documentation.

Project Define, Plan, Execute, Close Phase Flashcards

Student preview

46 questions

Show all answers

1.

FLASHCARD QUESTION

Front

The flowchart shows the phases of a project.

Back

The four phases of a project are defining, planning, executing, and closing.

2.

FLASHCARD QUESTION

Front

Defining Phase

Back

The defining phase is where the idea is formalized into a project proposal.

3.

FLASHCARD QUESTION

Front

Purpose of the Defining Phase

Back

The project defining phase begins when an idea for a project is identified by a company and is developed into a project proposal.

4.

FLASHCARD QUESTION

Front

Decision Making in the Defining Phase

Back

The decision on whether the project will be selected for implementation is made during the defining phase.

5.

FLASHCARD QUESTION

Front

A group of business executives rushing towards a target, following a leader with a red flag.

Back

A group of business executives rushes forward to reach their goal, following their lead who holds a red flag.

6.

FLASHCARD QUESTION

Front

Major project outcomes and deliverables

Back

Key elements that the project aims to achieve and provide.

7.

FLASHCARD QUESTION

Front

How the project will be completed

Back

The process and steps involved in finishing the project.

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