Chapter 17 Project Management

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Ryerson University
Global Management Studies
GMS 401
Sam Lampropoulos

CHAPTER 17 PROJECT MANAGEMENTy Project unique large onetime job requiring special activities to accomplish a specific objective in a limited time frame y Performance goal keeping the project within schedule budget and quality guidelines y Project goes through a series of phases life cycle including project initiation planning and scheduling execution control and closeout y Matrix organization an organizational structure that temporarily groups together specialists from different departments to work on special projects y Project manager person responsible for planning scheduling executing and controlling a project from inception to completion meeting the projects requirements and ensuring completion on time within budget and to required quality standards y Responsible for effectively managing work HR communications quality time and costsPROJECT PLANNING y Project planning analyzing the project into work packages and activities estimating resources needed and duration scheduling etc y Risks are inherent in projects although careful planning can reduce risks no amount of planning can eliminate chance events due to unforeseen or uncontrollable circumstances y Probability of occurrence of risk events is highest near the beginning and lowest near the end y Work breakdown structure a hierarchical listing of what must be done during a project y Determines resources needed and estimating costs scheduling activities involved or subcontracting the work
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