COMMERCE 2KA3 Study Guide - Final Guide: Information Technology Management, Project Management, Breakcore

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2KA3
• Professor: Ali Montazemi

Document Summary

Runaway projects: 30%- 40% it projects exceed schedule, budget, fail to perform as originally specified. Poor project management leads to: cost overruns, time slippage, technical shortfalls, failure to obtain anticipated benefits. Project: a planned series of related activities for achieving a specific business objective. Project management: the application of knowledge, skills, tools, and techniques to achieve specific targets within specified budget and time constraints. Major variables in project management: scope, time, cost, quality, and risk. Scope: defines what work is or is not included in project. Project mgmt. should ensure that the scope does not expand beyond what was originally intended. Time: each major component of a project is broken down into activities and tasks. Project management determines the time required to complete each task. Cost: cost of hr, hardware, software, and work space. Quality: an indicator of how well the end result satisfies the objectives of the project.