Question

During the semester we studied IT Project Management. List the five attributes of a project. [1 x 5 = 5] List and describe the four generic phases of a project life cycle of development. [ 2.5 x 4 = 10]

Answer 1

A project is a well defined set of activities that has a fixed start date and end date.

The 5 attributes of a project are the following

Scope : Each project has a well defined scope. A list of activities that can be done during the specified time. First the scope is set for any project.

Resource: Each project requires human resources as well as fixed resources to meet the scope.

Time:Each project has a well defined time boundary.ie a project start date and project end date.The activities in project will also be scheduled.

Quality: Each project will have a certain criteria till which deviations can take place. Sometimes an initial POC will be done to make an agreement for the project quality

Risk : All projects have risks associated with respect to development,provisioning of resources etc..These are identified prior to execution. some risks occur during execution.

The 4 different phases of a project life cycle is as follows:

Inititation

This is the starting phase of a project. Usually project managers,product analysts,product owners etc contribute a major part during this phase.In this phase project scope,objectives,risks,benefits etc are identified.

Planning

Project schedules are prepared during this phase. Budgeting is also an important step during this phase. Different tasks and the resources required for the project are identified and allocated.

Execution.

This is the actual development phase. Developers develop the product and there will be frequent monitoring and feedbacks from users. Here the plans are put into action.

Closure

This is to the end of the project life cycle. Analyzes each aspect of project. Then there will be discussions on future scope of the project.

finally the goal is reached