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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 management methodology
Project life cycle.
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?
Inverse relationship – risk reduces and the cost of change goes up.
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.
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?
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.
Project management is an integrating function. All process groups interact with each other at all times at approximately the same level.
There is none. Initiating activities are finished before closing activities are started.
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