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Free PMP Prep Podcast PMBoK Chapter 2 Project Lifecycle and Organization

Are you studying for the PMBoK exam in Project Management? Interested in Free PMP Prep Podcasts?

Free PMP Prep Podcast PMBoK Chapter 2 Project Lifecycle and Organization addresses the generic structure to project management: starting the project, organizing and preparing, carrying out the project work and closing the project. This Free PMP Prep Podcasts looks at the four (4) value components to project execution: 1) Project Life Cycle; 2) Project Phases; 3) Stakeholders; and 4) Organizational Process Assets.

The PMBoK model to project management considers the entire scope of a project from point of planning to point of execution and follow-up. Training in Project Lifecycle and Organization looks at the broader context of project management and establishes an understanding about the critical role that organizational culture plays on the outcome of projects. The module analyzes influences on decisions making in both the internal and external environment impacting project strategy.

In the Free PMP Prep Podcast PMBoK Chapter 2 Project Lifecycle and Organization trainees may expect review of the main principles outlined in the four (4) competencies:

Project Life Cycle
Sequential and sometimes overlapping project phases that comprise a project. A Project Life Cycle will generally be designated a name and number in any strategic plan. The life cycle is determined by management on the project, and classifies tasks to phases in the project according to the needs of the organization or organizations on in the project. Framework for managing a project, the life cycle pinpoints goals and objectives to each phase and correspondent application.

Project Phases
Distribution of project tasks in alignment with sub-management oversight is normally defined by type of work. The three modes of the phase-to-phase process relationship to a project are: sequential, overlapping, and iterative. Description of completion deadlines to the major phases of a project and related deliverables are part of the determination. Project phases may be singular or completed sequentially with overlap dependent upon the work.

Organizational Process Assets
All process related assets derived from any or all of stakeholders involved in the project that might be mobilized to influence a project’s success. Organizational process assets are categorized as both processes and procedures (i.e. SOPs), or as corporate knowledge base artifacts including: configuration management databases; financial databases; issue management databases; lessons learned; measurement databases and project files.

Stakeholders
The organizations, partners and people relevant to the development of a project are defined as stakeholders. Active involvement, risk and uncertainty will determine the degree by which stakeholders may provide input into a phase or scenario. How stakeholders interface with a project or invest money or time will ultimately influence positive or negative value. Equally, a project may impact future stakeholder interest in response to performance or completion of the project.

Sequential steps to any project require designation. The traditional Lifecycle is initiated with research and design (R&D) and contributes to all phases of the process, including planning, design, development and testing. Projects with overlapping lifecycles reinforce the incremental complexity of many project plans. Advancement of overlapping work may be done by subcontractors. Introduction of new participants is considered supportive to strengthening a project. Iterative phases ensure better feedback and inclusion of ideas by all stakeholders along the way.

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