0
When is the amount at stake the highest in project risk management?
Wiki User
∙ 10y ago
amount at stake
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What is the difference between Project Owner vs Project Sponsor?
A Project sponsor is the individual or group who provides financial or management resources for the project. A sponsor has a major stake in the project and may take an active role on the project team from time to time.A Project manager provides day-to-day direction on a project and is usually seen as the person "in charge" of the project. The Project Manager may be the Project Owner, but, depending on the nature of the project, these positions can be held by different people
What does a project sponsor do?
Project sponsor - This is the individual or group that provides financial resources for the project. A sponsor has a major stake in the project and may perform an active role in the project team from time to time.Following are some of the functions of a sponsor:1. The sponsor champions the project when it's conceived. This includes gathering support for the project by performing actions such as acting as project spokesperson to the higher-level management and spelling out the benefits of the project.2. The sponsor leads the project through the selection process until the project is finally authorized, at which point the leadership role goes to the project manager.3. The sponsor plays an important role in developing the initial project scope and charter.4. The sponsor serves as an authority and a catalyst for issues beyond the control of project managers, such as authorizing some critical changes and other yes/no decisions.
Why is it important to identify all project stakeholders at the beginning of a project?
stake holders who directly or indirectly influence the project it may be negative or positive... customer-without identify the customer there is no use(customer satisfaction= success).without spojnsor there is no cost for budget. -money -customer and consumer -sponsor -worker and etc,.
Discuss the different phases in project life cycle?
The Project Life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. 1) Initiation- In this first stage, the scope of the project is defined along with the approach to be taken to deliver the desired outputs. The project manager is appointed and in turn, he selects the team members based on their skills and experience. 2) Planning- The second phase should include a detailed identification and assignment of each task until the end of the project. It should also include a risk analysis and a definition of a criteria for the successful completion of each deliverable. The governance process is defined, stake holders identified and reporting frequency and channels agreed. 3) Execution and controlling- The most important issue in this phase is to ensure project activities are properly executed and controlled. During the execution phase, the planned solution is implemented to solve the problem specified in the project's requirements. In product and system development, a design resulting in a specific set of product requirements is created. This convergence is measured by prototypes, testing, and reviews. As the execution phase progresses, groups across the organization become more deeply involved in planning for the final testing, production, and support. 4) Closure- In this last stage, the project manager must ensure that the project is brought to its proper completion. The closure phase is characterized by a written formal project review report containing the following components: a formal acceptance of the final product by the client, Weighted Critical Measurements, rewarding the team, a list of lessons learned, releasing project resources, and a formal project closure notification to higher management. -----------RAJESH KUMAR(Lohrajpur)
Discuss different phases in project life cycle?
The Project Life Cycle refers to a logical sequence of activities to accomplish the project's goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. 1) Initiation:- In this first stage, the scope of the project is defined along with the approach to be taken to deliver the desired outputs. The project manager is appointed and in turn, he selects the team members based on their skills and experience. 2) Planning:- The second phase should include a detailed identification and assignment of each task until the end of the project. It should also include a risk analysis and a definition of a criteria for the successful completion of each deliverable. The governance process is defined, stake holders identified and reporting frequency and channels agreed. 3) Execution and controlling:- The most important issue in this phase is to ensure project activities are properly executed and controlled. During the execution phase, the planned solution is implemented to solve the problem specified in the project's requirements. In product and system development, a design resulting in a specific set of product requirements is created. This convergence is measured by prototypes, testing, and reviews. As the execution phase progresses, groups across the organization become more deeply involved in planning for the final testing, production, and support. 4) Closure:- In this last stage, the project manager must ensure that the project is brought to its proper completion. The closure phase is characterized by a written formal project review report containing the following components: a formal acceptance of the final product by the client, Weighted Critical Measurements, rewarding the team, a list of lessons learned, releasing project resources, and a formal project closure notification to higher management.
Who is not akey project stakeholder?
All the stake holders are very important in the project,like without sponsor there is no cost for project , with out client there is no project.,some of the people against the project that time they also stake holder.....so it is impossible to differentiate the stake holder.
Highest stake holder in ICICI bank?
FIIS's
What is the difference between Project Owner vs Project Sponsor?
A Project sponsor is the individual or group who provides financial or management resources for the project. A sponsor has a major stake in the project and may take an active role on the project team from time to time.A Project manager provides day-to-day direction on a project and is usually seen as the person "in charge" of the project. The Project Manager may be the Project Owner, but, depending on the nature of the project, these positions can be held by different people
When is the rehearsal management technique used?
When significant interests are at stake
Which meeting management technique should be based when interests are at stake?
rehersal
when is rehearsal meeting management technique used?
When significant interests are at stake
When is the rehearsal meeting management technique used?
When significant interests are at stake
In runescape duel arena what is the highest stake amount you can put up?
Free-to-play players can only bet up to 10,000 coins or items worth up to 10,000 coins. For members After acquiring 10 Quest Points, the amount you can stake in 15 minutes increases, until you have 270 or more Quest Points. At this point, you are capable of staking 60,000 coins.
Who is a sponsor in project management?
The Sponsor is a Stakeholder in the Project.Project sponsor - This is the individual or group that provides financial resources for the project. A sponsor has a major stake in the project and may perform an active role in the project team from time to time.Following are some of the functions of a sponsor:1. The sponsor champions the project when it's conceived. This includes gathering support for the project by performing actions such as acting as project spokesperson to the higher-level management and spelling out the benefits of the project.2. The sponsor leads the project through the selection process until the project is finally authorized, at which point the leadership role goes to the project manager.3. The sponsor plays an important role in developing the initial project scope and charter.4. The sponsor serves as an authority and a catalyst for issues beyond the control of project managers, such as authorizing some critical changes and other yes/no decisions.
What is an internal stake holder?
Those who are internally connected with the business e.g management, employees, etc
What is the role of costing executive in an organization?
The role of a cost executive or manager in an organization are: Estimates the projection cost during the project life cycle, Controls the activities of project and align them with the cost strategies, Manages the communication with people involved in the project to ensure that they are following the initial cost plans. Prepare cost reports for external stake holders.
What does a project sponsor do?
Project sponsor - This is the individual or group that provides financial resources for the project. A sponsor has a major stake in the project and may perform an active role in the project team from time to time.Following are some of the functions of a sponsor:1. The sponsor champions the project when it's conceived. This includes gathering support for the project by performing actions such as acting as project spokesperson to the higher-level management and spelling out the benefits of the project.2. The sponsor leads the project through the selection process until the project is finally authorized, at which point the leadership role goes to the project manager.3. The sponsor plays an important role in developing the initial project scope and charter.4. The sponsor serves as an authority and a catalyst for issues beyond the control of project managers, such as authorizing some critical changes and other yes/no decisions.
