BUSI 3309 Study Guide - Final Guide: Project Portfolio Management, Project Manager, Organizational Culture

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Project characteristics: established objective, defined timespan, across-the-organizational participation, doing something new, specific time, cost and performance requirements. Project life cycle: defining (goals, specifications, tasks, planning (schedules, budgets, staffing, executing (changes, quality, forecasts, delivering (lessons learned, train customer, release staff) Drives of project management: compression of project life cycle, knowledge expansion (complexity, triple bottom line (planet, people, profit, corporate downsizing (outsource) Portfolio management: oversee project selection, monitor resource levels and skills, perspective beyond silo thinking, representative risk level. Pert: a network analysis technique used to estimate project duration when there is a high degree of uncertainty about the estimates. Time is fixed, resources are flexible: additional resources are required to ensure project meets schedule: resource-constrained project: is one in which the level of resources available cannot be exceeded. Resources are fixed, time is flexible: inadequate resources will delay the project: splitting: a scheduling technique for creating a better project schedule and/or increase resource utilization.

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