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PM Assignment 1

The document provides an overview of the key concepts learned in a project management module. It discusses: 1) the differences between projects and ongoing operations, with projects being temporary to create a unique product and operations being ongoing after product creation; 2) the differences between analog and digital communication, with digital being more advanced and flexible; and 3) the five process groups of project management - initiating, planning, executing, monitoring/controlling, and closing - which outline the project lifecycle. The document concludes with a list of knowledge references used to learn about these concepts.

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82 views

PM Assignment 1

The document provides an overview of the key concepts learned in a project management module. It discusses: 1) the differences between projects and ongoing operations, with projects being temporary to create a unique product and operations being ongoing after product creation; 2) the differences between analog and digital communication, with digital being more advanced and flexible; and 3) the five process groups of project management - initiating, planning, executing, monitoring/controlling, and closing - which outline the project lifecycle. The document concludes with a list of knowledge references used to learn about these concepts.

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© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
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MODULE 1: ASSIGNMENT

For the introduction of our first prelim module, I have certainly gained an inception

understanding of the vast realm of Project Management. Hence, what I learned in this chapter

includes the following:

 Firstly, I have learned about the differences between a project and an ongoing operation. A

project is an endeavor that is temporary in nature and is undertaken to produce a unique

product. Also, performance is primary focus of projects as they must be of optimal

performance in meeting the requirements specified by clients. On the other hand, ongoing

operations are ongoing execution of activities which occur after product is made to produce

same result or a repetitive service. It is permanent as it only exists after product is made and

can go on forever. The same product is manufactured as long as it has a demand or as long

as it generates profit.

 Secondly, I learned about differences between digital and analog. The emergence of

technological innovations such as the internet has led the way for analog communication to

evolve into something more advanced which is digital communication. Analog

communication is the technology which uses analog signal for the transmission of

information and its hardware is quite complicated. On the other hand, digital

Communication is the technology which uses digital signal for the transmission of

information and as compared to analog, the hardware in digital is flexible and less

complicated. The relation of this comparison between analog and digital is vital in project

management because a project needs an efficient and effective flow of communication in

attaining its goals and objectives.


 Moreover, I also learned about the five process groups. Project managers may achieve

consistent and repeatable project success by knowing the project life cycle and the five

phases of project management—initiating, planning, executing, monitoring and

controlling, and closing. With that, I learned that the processes required for project

managers to successfully manage a project from inception to conclusion are outlined in the

project life cycle. Based on my research from other sources, the five process groups can be

further elaborated from the following:

 The project charter and stakeholder register are the only two activities that make

up the initiating phase of the project life cycle. The goal of this phase is to figure

out what your project's vision is, record what you want to achieve, and get

approval from a sanctioning stakeholder.

 Starting with a project management plan, project scope, work breakdown

structure, and more—and ending with qualitative and quantitative risk analyses

and risk responses—the planning phase process group is where you build the

project infrastructure that will enable you to achieve your goal within your

predetermined time and budget constraints.

 The execution phase marks the commencement of the project—where it's the

majority of the budget is spent, and the majority of the project deliverables are

completed. Whether it takes weeks, months, or even years, you put your project

strategy into action.

 The monitoring and controlling phase entails maintaining track of the project's

actual progress against the plan and taking remedial action as needed.
 The closing phase of the project life cycle consists of only one single operation,

and it entails more than simply marking the project as complete. It's critical to

formally close the project and get the customer's, stakeholders', and/or project

sponsor's sign-off or permission.

 Finally, the knowledge areas in project management complete my learnings for this chapter.

The project management knowledge areas are essentially everything you need to know about

project management in order to be effective and efficient.

References:

Aside from the module ppt and e-book, the other sources that I have used consist of the

following:

Adobe Experience Cloud. (n.d.). Project Life Cycle. Retrieved from Adobe Experience Cloud:

https://www.workfront.com/project-management/life-cycle

Electronics Coach. (n.d.). Difference Between Analog and Digital Communication. Retrieved

from Electronics Coach: https://electronicscoach.com/difference-between-analog-and-

digital-communication.html

GeeksforGeeks. (2020, July 17). Difference between Projects and Operations. Retrieved from

GeeksforGeeks: https://www.geeksforgeeks.org/difference-between-projects-and-

operations/

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