GMS 450 Lecture Notes - Lecture 2: Fixed Investment, Payback Period, Project Management Body Of Knowledge

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 450
• Professor: Peter Monkhouse

Document Summary

Chapter 1 the world of project management. Why are projects done: to implement strategic objectives. Mergers and acquisitions: contracts or agreements. Helpi(cid:374)g to a(cid:272)hie(cid:448)e a(cid:374)othe(cid:396) o(cid:396)ga(cid:374)izatio(cid:374)"s st(cid:396)ateg(cid:455: regulatory / legal requirements. Strategy: the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations. Process used by an organization to anticipate and adapt to expected changes. What business are we in and why? (mission, vision, and values) What are the key issues that our strategy must address? (strategic analysis) How can we best compete? (strategy formulation: formulating and launching the strategy. Mission statement: a statement of the purpose of a company or organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making.