MGMT 364 Quiz 1
difference between a project and a process
-project: working with different people, deliverables, and resources; not routine -process: no start or finish, improvement, predictable
project governance: an integrative approach
-senior mgmt linked to project execution -firm's project mgmt improvement -project mgmt activities -resource usage -project portfolio risk level funnels into senior mgmt
what is a project limited by?
-time -budget -resources -performance specifications
what is a project?
a complex non-routine one time effort
how is project success determined
customer satisfaction, goal achievement, parameters met
increased customer focus
customization, multiple product lines
small projects
more than 1 project at a time
the challenge of project management
must induce the right people at the right time to address the right issues and make the right decisions
knowledge explosion
need to understand what is valuable knowledge and what is not
key to project governance
orgs must have a set of tools and processes to use consistently to increase effectiveness
technical
scope, wbs, schedules, resource allocation, baseline budgets, status reports
triple bottom line (planet, people, profit)
selecting projects important to the company
general project characteristics
what it is, how long, how much
why is project management important?
-evolving profession with increased opportunity -not limited to the private sector -who is a project manager? can be anyone
project characteristics
-has specific time, cost, and performance requirements -has an established objective -has a defined life span with a beginning and end -requires across-the-org participation -involves doing something never been done before
project manager roles
-marshals resources for the project -provides direction, coordination and integration to the project team -is linked directly to the customer interface -is responsible for performance and success of the project
closing includes
1. train customer 2. transfer docs 3. release resources 4. eval 5. lessons learned
project life cycle stages
1. defining 2. planning 3. executing 4. closing
defining includes
1. goals 2. specifications 3. tasks 4. responsibilities
problems resulting from the uncoordinated project mgmt systems include
1. projects that do not support the orgs overall strategic plan and goals 2. independent decisions that create internal conflict and confusion 3. failure to prioritize results in wasted resources
planning includes
1. schedules 2. budgets 3. resources 4. risks 5. staffing
the two dimensions of the project management process
1. sociocultural 2. technical
executing includes
1. status reports 2. changes 3. quality 4. forecasts
compression of the project life cycle
be competitive, be better organized, be a good time manager
not all stages have to be ___________ before others can begin
complete
current drivers of project mgmt
compression of the project life cycle, knowledge explosion, triple bottom line, increased customer focus, small projects
sociocultural
leadership, problem solving, teamwork, negotiation, politics, customer expectations
project manager
manages temporary, non-repetitive activities and frequently acts independently of the formal org
