Question 2

(a) Define project according to the Project Management Institute. (5 marks)

(b) Name the FIVE (5) major characteristics of a project. Select relevant examples to illustrate them. (15 marks)

(c) Respond to the claim that projects can have an indefinite lifespan. Apply relevant examples to support your answer. (10 marks)

Question 3

(a) Define Strategic Management. (5 marks)

(b) A good project manager needs to understand his or her organisations business strategy. Describe TWO (2) reasons for this need and illustrate with relevant examples.v(14 marks)

(c) List the FOUR (4) activities in the strategic management process and comment on each of them briefly.

Question 4

Risk Identification is the first step of the risk management process.

1. (a) State the essential features in Risk Identification. Illustrate your answer with relevant examples.

   (6 marks)

2. (b) Describe the relationship between the likelihood of a risk event occurring and the cost of fixing the risk event as a project proceeds through its life cycle.

   (5 marks)

3. (c) Explain why an organization might be opposed to developing and implementing a thorough risk management process.

   (5 marks)

4. (d) Identify and demonstrate THREE (3) types of project constraints that could impact or change the structure of a project network.

   (9 marks)