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Lecture 1

OPMA 407 Lecture Notes - Lecture 1: Project Management Institute, Project Management, Project Management Software


Department
Operations Management
Course Code
OPMA 407
Professor
David Roberts
Lecture
1

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Class 1- Chapter 1
Project Definition-
Specific tasks --> scope, deliverables, break down structure
Industry--> deliverables (university- gradable items)
Start and end date
Cost
Teams--> interdisciplinary
Something of value at risk
3 binds or 3 constraints:
Time- Well-defined projects always have a deadline, whether it is tied to a significant event (e.g.
the World Series) or the whim of senior management. Regardless of the source, completing the
project within the deadline is always a significant performance objective.
Cost- Costs represent resources expended to obtain a set of benefits. Projects typically are
limited in the costs they can incur to try to ensure that the benefits exceed the costs.
Scope- specified deliverables. Guide defies sope as: The su of the produts, series, ad
results to e proided as a projet. The sope of the projet is defied at the egiig durig
the planning phase and the state of the project is continually verified against the scope
definition.
Project is a failure if it doesn't meet the scope, goes over budget or time.
PMI- project management institute
Project management book of knowledge
***Final project--> add a lessons learned section
Material Review Question 2:
Project management life cyclePMLC
Concept, initial, idealization when the first idea comes up
Planning phase Plan the project, budget
ExecutionTaking action
Terminate Finish the project completely and properly
**Example exam question: Identify the 4 stages, explain in one or two sentences what each stage is.
Give an example of projects. Why is it a project?
Material Review Questions 3:
Limitation of project management
3.1 Uncertainty- The project characteristic of uniqueness tends to be associated with uncertainty.
Uncertainty can affect a project for better or for worse. For example, it can be difficult to forecast
important items related to budget, schedule, customer satisfaction, and business impact.
3.2 Different organizational structure- Projects often use a temporary organizational structure that is
different from the way most organizations typically perform work. This can lead to conflicting priorities
between the project and daily operations, especially when management has not clearly established
formal authority over the resources responsible to multitask on one or more projects and on one or
more routine jobs.
find more resources at oneclass.com
find more resources at oneclass.com
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