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1. What is the term used for the series of phases that a project passes through from its initiation to closure?
Project life cycle.
Project management methodology
The project milestone chart.
2. What is the relationship between project risk and the cost of a project change throughout the life cycle of a project?
Direct relationship – risk goes up and the cost of a change goes up.
No relationship – risk varies independent of the cost of change, either could go up or down.
Inverse relationship – risk reduces and the cost of change goes up.
3. Given that there are interactions between the project management process groups of Initiating, Planning, Executing, Closing and Monitoring and Controlling; what is the level of interaction between Initiating and Closing process activities?
There is none. Initiating activities are finished before closing activities are started.
Project management is an integrating function. All process groups interact with each other at all times at approximately the same level.
The level of interaction between the process groups varies but peaks during the middle of the project when all process groups are interacting with each other.
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