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Domain 1 - Task 2
CAPM study
Question | Answer |
---|---|
Cost | Keeps projects within budget parameters, reduces risks of unforeseen costs, helps managers plan ahead, can reduce the costs of a project when managed properly, and tracks project progress |
Quality | Improves productivity by re-evaluating processes and improving them, helps establish project milestones, improving time management and team efficiency. Ensures that the project plan is well defined and that the resources, etc |
Risk | reduce uncertainty, improve efficiency, and increase probability of success |
Schedule | plan and track timeline, communicate project timeline to stakeholders, prevent project from going over budget, and help ensure project is completed on time |
Project Management Plan | is the process of defining, preparing, and coordinating all plan components and consolidating them into an integrated project management plan |
Product Management Plan | Is the business process of planning, developing, launching, and managing a product or service |
Milestone | A significant point or event in a project, program, or portfolio |
Task | Are the building blocks of the project and they take time to achieve |