BUSI 3309- Midterm Exam Guide - Comprehensive Notes for the exam ( 46 pages long!)

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Swift growth in project management: mostly in internal projects, developing new products, opening new branches, improving current services. Project: complex, nonroutine, one-time effort that is constrained by time, budget, resources and performance specifications designed to meet customer needs. Project characteristics: established objective, defined timespan with beginning and end, requires cross-organizational participation, specific time, cost and performance requirements. Program: series of coordinated, related, multiple projects that continue over an extended time and are intended to achieve a goal. Ex: completion of all courses required for a business degree. Project examples: completing a term paper, developing a supply-chain information system, writing a new piano piece, wire-tag projects for ge and walmart. Physical product is produced and control mechanisms are used to assess progress (status reports, changes, Driving forces of project management: compression of product life cycle, knowledge explosion (complexity, triple bottom line (planet, people, profit, corporate downsizing (outsourcing, increased customer focus (market competition, small projects represent big problems.