This lesson addresses the concepts and business areas that you should understand before starting a project, supporting learning related to the “Business Environment” domain in the ECO and the “Business Acumen” side of the PMI Talent Triangle.

 • Define and discuss stakeholders and the most effective ways to communicate with them.
• Explain the best ways to form a team.
• Describe how to build the most effective understanding of a project and how doing so relates
to executing a project successfully.
• Explain how predictive and adaptive project life cycles work; explain what a hybrid
development approach is.
• Decide which kind of development approach or life cycle is best suited for work.

• Explain the importance of a project management plan.
• Provide an overview of scope planning in both predictive and adaptive projects.
• Provide an overview of schedule planning in both predictive and adaptive projects.
• Discuss resource planning for a project, including human and physical resources and the
role of procurement.
• Determine the budgeting structure/method for a project
• Explain the importance of tailoring a budget.
• Identify strategies for dealing with risks and risk planning.
• Assemble a toolkit of possible responses to risks.
• Define quality and how it relates to the outcomes and deliveries for a project.
• Discuss the importance of integrating project management plans and tailoring a change
management process.

• Discuss the guidelines for developing leadership competencies and skills.
• Address leadership styles, and the components of leading a successful
team, either in person or virtually.
• Describe artifacts and the strategies for their use.
• Identify the characteristics and core functions of empowered teams.
• Explain strategies and forms of communication for collaborating in a project
team environment.
• Learn the value of training, coaching and mentoring for a team.
• Explain the importance of conflict management.
• Discuss the causes and levels of conflict and their outcomes.

• Explain the various methods for implementing improvement.
• Explain the various methods for performance measurement.
• Compare these methods with a focus on communication and accountability.
• Identify the methods for implementing a project and the issues and impediments that arise
during a project.
• Describe the methods for implementing changes during a project.

• Define the reasons and activities related to the closure of a phase or a project.
• Explain the benefits gained from a project or phase, and how they are managed,
sustained, etc.
• Examine the reasons for knowledge transfers and how they relate to the closure of
a phase or project.