ACCTG 1 Lecture Notes - Lecture 19: Project Management Body Of Knowledge, Program Evaluation, Project Charter
Document Summary
Unique organizational challenges: has defined ending point, at which time project is complete. Project management = according to pmi, the application of knowledge, skills, tools and techniques to project activities to meet project requirements . Companies no longer accept premise that projects are too complex to manage well organizations like pmi emerged to educate practicing managers on state-of-art tools & techniques. 2 trends: the faster pace of strategic change. New product lines must be introduced more often (fight off competitors)->nr. Of projects increases case for improved projects mngmt becomes even stronger for a firm: changing role of middle management. Traditional role has shrunk; advanced information systems do analysis tasks & companies taken away authority & responsibility for work outcomes from middle managers. Amount of time & resources spent on each phase will differ from one situation to the next. =planners prepare detailed plans that identify activities, time and budget targets, & resource needed to complete each task.
