COM Project and Event Management Flashcards

What is the purpose of a project post-mortem meeting?

Answer: To review what went well and what could be improved for future projects

A post-mortem is a retrospective review that captures lessons learned—both successes and failures—to improve future project performance.

What is a stakeholder matrix used for in project management?

Answer: Identifying and analyzing stakeholders by their influence and interest in the project

A stakeholder matrix maps stakeholders by their level of influence and interest, helping the project manager prioritize engagement and communication strategies.

What is 'scope creep' in project management?

Answer: The gradual, uncontrolled expansion of a project's scope beyond its original objectives

Scope creep occurs when additional features or requirements are added to a project without formal authorization, often causing delays and budget overruns.

What is the purpose of a risk register in project management?

Answer: To document identified risks, their likelihood, impact, and mitigation strategies

A risk register is a living document that captures known project risks, assesses their probability and impact, and records planned responses.

What does 'incremental budgeting' mean in the context of office project planning?

Answer: Basing the new budget on the previous period's budget with incremental adjustments

Incremental budgeting uses the prior period's budget as a baseline and adds or subtracts amounts based on expected changes, making it a common approach in stable organizations.

What is a project milestone?

Answer: A significant checkpoint or deliverable that marks a key stage in the project timeline

A milestone marks a significant point in the project lifecycle, such as the completion of a major deliverable or phase, and is used to track overall progress.