Project Management Essentials

What are the phases of the Project Life Cycle?

• Initiation, Planning, Execution, Monitoring and Controlling, Closing

• Analysis, Design, Implementation, Testing, Deployment

• Design, Development, Testing, Deployment, Maintenance

• Initiation, Planning, Execution, Closing, Review

Why is Stakeholder Management important in project management?

• Stakeholder Management is crucial for project success by ensuring alignment of goals, reducing risks, and increasing support.

• Stakeholder Management causes conflicts and confusion

• Stakeholder Management is irrelevant in project management

• Stakeholder Management leads to increased costs and delays

Discuss the value of having a Project Manager in a project.

• Project Managers often cause delays in project completion

• Having a Project Manager leads to increased project costs due to their salary

• Project Managers are unnecessary as team members can self-manage

• Having a Project Manager in a project is valuable because they provide leadership, coordination, and communication to ensure successful project delivery.

What are some key roles of a Project Manager?

• Coding, designing, marketing

• Cooking, gardening, painting

• Singing, dancing, acting

• Planning, organizing, leading, controlling project activities, managing resources, communicating with stakeholders, mitigating risks, ensuring project goals are achieved

Name some core skills that a Project Manager should possess.

• Technical Skills

• Negotiation

• Customer Service

• Leadership, Communication, Time Management, Risk Management, Budgeting, Problem-Solving

How does leadership play a role in managing team dynamics?

• Leadership sets the tone for team dynamics and influences how team members interact and collaborate.

• Leadership only affects team dynamics in negative ways

• Team dynamics are solely determined by individual team members

• Leadership has no impact on team dynamics

Explain the concept of initiating phase in Project Life Cycle.

• Scope is not defined in the initiating phase

• The initiating phase in Project Life Cycle involves defining the project at a broad level, identifying stakeholders, defining scope, and obtaining approval to start.

• Stakeholders are not involved in the initiating phase

• The initiating phase involves detailed project planning

How can a Project Manager effectively communicate with stakeholders?

• Avoid all communication to maintain control

• Only communicate when absolutely necessary

• Establish clear communication channels, actively listen, provide regular updates, address issues promptly, and keep stakeholders informed and involved.

• Provide vague and incomplete updates

What is the significance of risk management in project management?

• Risk management in project management is crucial for identifying, assessing, and prioritizing risks to minimize threats and capitalize on opportunities, enhancing the project's chances of success.

• Risk management is irrelevant in project management

• Risk management only focuses on maximizing threats in a project

• Risk management does not impact the success of a project

Describe the responsibilities of a Project Manager during the planning phase.

• Attending team meetings

• Define project scope, objectives, deliverables, timelines, budget, resources allocation, risk assessment, and create a detailed project plan.

• Reviewing project documentation

• Creating marketing materials