MIS 340 Lecture Notes - Lecture 3: Net Present Value, Project Manager, Project Charter

• School: Iowa State University
• Department: Management Information Systems
• Course: MIS 340
• Professor: Townsend Anthony

Document Summary

Five process phases of project management: initiate, plan, execute, monitor and control, close. Project initiation: the process of authorizing a new or continuing an existing project, four initiation activities, identifying projects, classifying and ranking projects, selecting projects, establishing the project charter. Identifying projects: identification can be made by: Two basic project planning approaches: isolated- attempts to solve individual organizational problems. Dependent on current organizational infrastructure: planned systematic identification of project that will provide solutions today and into the future. Corporate strategic planning: an ongoing process that defines the mission, objectives, and strategies of an organization, required if project selection is going to be successful, three-step process. The current organization must be reviewed and understood. Strategic plan is developed for transition from current to future state. Statement that makes it clear what business the company is in. Series of statements that express an organization"s qualitative and quantitative goals for reaching a desired future position.