What phases in a project’s lifecycle are recognized by PMI (Project Management Institute) and what is the PM’s responsibility in each phase? What is Stakeholder Management? How can poor stakeholder management impact a project?

QUESTIONS

1. What is Project Management? Why is it important?

2. What are the benefits of developing Project Management Skills? Why?

3. Below is a list of project management approaches? Pick 3 to compare and contrast. Make sure to provide an overview of each of the 3 approaches, as well.

1. 1. Agile Project Management
   2. Waterfall Project Management
   3. Process-Based Management
   4. Benefits Realization Management
   5. Critical Chain Project Management
   6. Extreme Project Management
   7. Lean Project Management
   8. Earned Value Management

4. What phases in a project’s lifecycle are recognized by PMI (Project Management Institute) and what is the PM’s responsibility in each phase?

5. What is Stakeholder Management? How can poor stakeholder management impact a project?

6. What is Risk? How can risk impact a project? Is risk always negative?

7. What is the “3-legged stool” in project management? Explain.

8. Why do projects fail? Provide examples of the type of reasons for project failure.

9. When a project fails who should take responsibility? What about when a project is a success?