During project initiation, a newly assigned project manager reviews lessons-learned reports, archived risk registers, and schedules from similar completed projects within the company. What is the primary benefit of examining these existing artifacts before detailed planning begins?
They provide historical data and lessons learned that can improve current cost, schedule, and risk estimates.
They authorize the project budget and release organizational funds for spending.
They finalize the communication matrix and distribute the schedule baseline to stakeholders.
They identify exactly which subject-matter experts should be assigned to each work package.
Existing artifacts-such as lessons-learned documents, past risk registers, and performance data-are part of the organization's process assets. Consulting them early gives the project manager proven historical information that improves the accuracy of current estimates, highlights previously identified risks, and reveals approaches that were either successful or unsuccessful on comparable efforts. While staffing assignments, budgeting, and communication matrices are also important initiation or planning activities, those tasks are not accomplished simply by reading historical documents; they require separate analysis and approval processes.
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What are 'existing artifacts' in project management?
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Why is gathering historical data critical in the initiation phase?
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How do lessons learned from previous projects improve current project planning?