1. Define the term project life cycle.

2. Methodologies are the best weapon in a company's arsenal if they want to avoid what?

3. List five reasons that projects fail and state what possible solutions could prevent failure.

4. What does the term project strategy mean? Is it the same as a business strategy?

5. What are the five levels of the capability maturity model?

6. List three reasons why team members would dislike methodologies? Answers

L A project life cycle is a collection of project phases. Project phases vary by project or industry, but some general phases include (1) concept, (2) development, (3) implementation, and (4) support.

2. Methodologies provide companies the opportunity to avoid inconsistency and nonstandardization throughout the organization when managing their projects.

Poor estimation. Solution: Spend additional time estimating the project with a cost accountant or estimating tool.

Poor implementation. Solution: Consider the type and scale of implementation that is required.

4. Project strategy is specific and focused on the project to be executed and deployed; it is based on a specific set of objectives and project scope. Without a project strategy, it is unlikely that the project would be planned very well. A business strategy is more comprehensive from an organizational perspective, which focuses on embracing IT, marketing, sales, manufacturing, and HR and the ability to forge ahead of its competitors.

5. The five levels of the capability maturity model are initial, repeatable, defined, managed, and optimized.

6. Team members dislike for methodologies are: (1) Methodologies are a waste of time; (2) They don't represent what really happens on a project; and (3) They don't reflect the actual detail technical requirements for executing the project.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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