MGT 3920- Midterm Exam Guide - Comprehensive Notes for the exam ( 15 pages long!)
Document Summary
Project management is (cid:862)the appli(cid:272)atio(cid:374) of k(cid:374)o(cid:449)ledge, skills, tools a(cid:374)d te(cid:272)h(cid:374)i(cid:395)ues to p(cid:396)oje(cid:272)t a(cid:272)ti(cid:448)ities to (cid:373)eet p(cid:396)oje(cid:272)t (cid:396)e(cid:395)ui(cid:396)e(cid:373)e(cid:374)ts. (cid:863) Better control of financial, physical, and human resources. 10 reasons why pm matters: defines a plan and organises chaos, establishes a schedule and plan, enforces and encourages teamwork, maximises resources, manages integration, controls cost, manages change, managing quality, retain and use knowledge, learning from failure. Project success factors: clear goals/objectives, support from senior management, adequate funds/resources, realistic schedule, end user commitment, effective leadership/conflict resolution, flexible approach to change, clear communication channels, taking account of past experience, effective management of risk. Project management tools: scope statement & project charter, project charter, project charter/budgets/ A project is (cid:862)a te(cid:373)po(cid:396)a(cid:396)y e(cid:374)dea(cid:448)o(cid:396) u(cid:374)de(cid:396)take(cid:374) to (cid:272)(cid:396)eate a u(cid:374)i(cid:395)ue product, se(cid:396)(cid:448)i(cid:272)e, o(cid:396) (cid:396)esult. (cid:863) Operations is work done to sustain the business. Projects end when their objectives have been reached, or the project has been terminated. Is developed using progressive elaboration or in an iterative fashion.
