Question

What are project assumptions and provide an example as to why it is important to document them.(answer in a paragraph with at least 75 words )

Answer 1

Project assumptions are the important aspect of the project planning process, which are the conditions that are expected to happen anytime through project start to begin. These are more like beliefs which are assumed to be true for the future course of action and made based on historical information, experience and knowledge. Thus, assumptions may or may not be true. In project management project assumptions are lead to the creation of the project risk management plan and to have better mitigation or contingency plans for successful execution of the project. For example, for the approval of the project charter, it is important for all project stakeholders to join the governance meeting and discussion. So in this case it is assumed before scheduling the governance meeting that all the stakeholders will be present. Just in case if this doesn’t happen then it helps in planning, from where the next set of approval can be taken for the project to be get going. Hence, it is important for project assumptions to be documented so that the project scope can be defined effortlessly along with the risk management plan and project cost benefit analysis.