FIT2002 Study Guide - Final Guide: Project Management, Project Risk Management, Executive Sponsor

• School: Monash University
• Department: Information Technology
• Course: FIT2002
• Professor: Dr Anthony Wong

Document Summary

A project is a temporary endeavour to create a unique product, service or result. An operation is the work done to sustain a business. Project stakeholder is a perso(cid:374) (cid:449)ho has a(cid:374) i(cid:374)terest or (cid:858)stake(cid:859) to the out(cid:272)o(cid:373)e of the proje(cid:272)t. Project managers work with project sponsors and the project team to achieve project goals. Project management is the application of knowledge areas, skills, tools and techniques for project activities to meet project requirements. Project sponsors set the direction and funding of the project. Program coordinates related projects to achieve benefits that is not available from individual projects. Program manager provide leadership and direction to project managers leading projects within a program. Time: reducing time taken to complete project may increase cost and reduce scope. Cost: reducing cost of project may increase time and reduce scope. Scope: increase scope of project (adding features) will increase time and cost. Triple constraints: the balancing of scope, time and cost goals.