Overview: Final Of Three Assignments

Overviewthis Is The Final Of Three Assignmentsthis Assignment Should

This is the final of three assignments. This assignment should only include the questions and answers for these questions—remove any answers from previous assignments. At this point, most communication issues have stabilized, and the execution process is producing deliverables. The sponsor, as well as the project team, are now focused on project performance and closure.

Paper For Above instruction

The completion of a project marks a critical transition from execution to closure, emphasizing performance evaluation and lessons learned. Summarizing the project to date involves highlighting the key objectives, scope, and milestones achieved. It is essential to understand how the project has progressed relative to the initial plans, including any deviations and how they were managed.

During the execution phase, several deliverables are produced that signify progress and fulfill project objectives. For example, in a software development project, deliverables might include a completed software module, user documentation, and a tested prototype. These tangible outputs demonstrate the successful realization of project activities and support overall project goals.

Project baselines are established during the planning phase and serve as reference points for measuring project performance. They typically include scope, schedule, and cost baselines. These baselines are vital to Earned Value Management (EVM) calculations because they provide the framework for assessing how well the project adheres to planned performance metrics. Effective baseline management enables project managers to detect variances and implement corrective actions promptly.

Assessing the results through EVM involves analyzing various metrics to determine project health. Common EVM metrics include Cost Performance Index (CPI), Schedule Performance Index (SPI), Schedule Variance (SV), Cost Variance (CV), and Estimate at Completion (EAC). For instance, a CPI value below 1 indicates cost overruns, whereas an SPI below 1 suggests schedule delays. These metrics help identify whether the project is on track, ahead, or behind schedule and budget.

Applying the PMBOK (Project Management Body of Knowledge) best practices to close a project encompasses several key activities. These include verifying that all project deliverables meet quality standards, obtaining formal acceptance from stakeholders, releasing project resources, and documenting lessons learned. Proper closure ensures that all contractual obligations are fulfilled and that the project is formally concluded to facilitate organizational learning and future project planning.

Lessons learned are critical insights gained during project execution that can improve future projects. Examples include identifying effective communication strategies that enhanced team collaboration, recognizing risks that were mitigated successfully, or understanding challenges in stakeholder engagement. Documenting these lessons ensures organizational knowledge transfer and continuous improvement in project management practices.

In supporting the above discussions, credible sources such as the PMBOK Guide, scholarly articles on project management best practices, and industry reports are essential. For example, the PMI’s PMBOK provides foundational guidelines, while scholarly articles offer insights into EVM and project closure strategies. Proper citation of these sources enhances the credibility and reliability of the analysis.

References

• Project Management Institute. (2021). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (7th ed.). PMI.
• Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
• Gray, C. F., & Larson, E. W. (2017). Project Management: The Managerial Process. McGraw-Hill Education.
• Fleming, Q. W., & Koppelman, J. M. (2016). Earned Value Project Management. Stew Webb Inc.
• Zwikael, O., & Smyrk, J. (2019). Who Needs Project Management? A Stakeholder Approach. Springer.