What are correct statements about the relationship between the product and project life cycle?

What are correct statements about the relationship between the product and project life cycle?

The product life cycle phases do not overlap while the project phases may overlap. Phases generally occur only once in the product life cycle while in the project life cycle phases may repeat. Phases are sequential in the product life cycle, while in the project life cycle phases may or may not be sequential.

What are organizational process assets in project management?

According to the Guide to the Project Management Body of Knowledge (PMBOK® Guide), Organizational Process Assets are “the plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization.”

In what ways does the close project or phase process link to other processes in the project Integration management knowledge area?

How is the Close Project or Phase process linked to the Direct and Mange Project Work, Monitor and Control Project Work, and Perform Integrated Change Control processes? -It uses accepted deliverables from the Validate Scope process as inputs.

What is enterprise environmental factors in project management?

Enterprise environmental factors in project management knowledge are the factors that originate from outside of the project or organization. These factors will impact on projects, programs or portfolio. These factors can either impact positively or negatively and they cannot be controlled by the project team.

What is the difference between project and process management?

Project management is about bending your company resources around a problem. Process management is about aligning company resources with a common problem. Project management is flexible and changing; you’re facing new challenges and might require new ways to overcome them.

Which statements about the activity level and duration of the planning process group are correct?

Which statements about the activity level and duration of the planning process group are correct? As the planning process groups ends, the closing process group reaches its peak. Planning starts at the beginning of the project life cycle and accelerates once initiating processes start winding down.

What is an example of an organizational process asset?

Organizational process assets include the documentation, therefore, it acts as the archive or repository of the company. For instance, project plan template, security policies, procurement procedures and company knowledge base are all categorized as organizational process assets.

What are organizational assets?

Organizational assets are the accumulated capital,both financial and non-financial, that a company has at its disposal. These assets are both tangible and intangible (Hooley et al., 1998) and include: Financial assets :such as working capital, or access/availability of investment finance, and creditworthiness.

Which process triggers the closing a project process?

There are two triggers for the Closing a Project process: a natural close towards the end of the project and a premature close, which comes from the Project Board. All other input documents are used, as the Project Manager wants to create an End Project Report and prepare the project for closure.

What is the most important knowledge area for the project closing process?

Project integration management is an important project management knowledge area and it puts all the pieces of a project together into a cohesive whole. It has six processes and the last one is the close project or phase process.

What are organizational process assets?

Therefore, Organizational Process Assets would include anything the organization has acquired that you can use in the management of the project. They include formal and informal plans, policies, procedures, and guidelines. These are very important for the planning stage, irrespective of the nature of the project.

What are enterprise environmental factors and organizational process assets?

Enterprise environmental factors (EEF) and organizational process assets (OPA) are the most widely referred to influences in the PMBOK Guide. EEFs provide you with a controlled environment in which your organization lives and you complete your project.

Why are environmental factors important in project management?

Project management information systems (PMIS) — Automation tools like scheduling tools Enterprise environmental factors are so important that they can enhance or reduce the project management options and positively or negatively impact project success. What are Organizational Process Assets (OPA)?

What are the assets of an organizational process?

Organizations have also acquired knowledge in the form of lessons learned—and the organization’s knowledge base that can be very useful. Therefore, Organizational Process Assets would include anything the organization has acquired that you can use in the management of the project.

How are project management processes and knowledge areas related?

The relationship between project management processes and Knowledge Areas is best described by the following: A. Project management processes are further grouped into separate Knowledge Areas. B. Knowledge Areas are integrated into project management processes through the project life cycle concept. C.

What makes up an enterprise environmental factor ( EEF )?

Enterprise Environment Factors (EEFs) include all policies, practices, procedures, and legislation that exist both inside and outside of the organization that will impact the way you manage a project.