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Study Guide

[GMS 450] - Final Exam Guide - Everything you need to know! (53 pages long)
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53 Pages
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Department
Global Management Studies
Course Code
GMS 450
Professor
Peter Monkhouse

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Description
Ryerson GMS 450 FINAL EXAM STUDY GUIDE find more resources at oneclass.com Lecture 1 Chapter 1 The World of Project Management 1.1 What is a project? Organizations perform work which involves: Operations o Semipermanent charter, organization and goals o Maiteae of status uo o Standard product or service o Homogeneous teams o Ongoing Projects o Performed by individuals o Limited by constraints including resource constraints o Planned, executed, monitored, and controlled o Performed to achieve organizational objectives or strategic plans Each work activity is unique with a specific deliverable aimed at meeting a specific need or purpose How are projects different from operations? Original charter, organization and goals Catalyst for change Unique product or service Heterogeneous teams Start and end date Project: a temporary endeavour undertaken to create a unique product, service, or result. Projects are unique therefore: o Vary widely in size and type o There may be uncertainties about the product, services or results o Tasks can be new to a project team o Projects are undertaken at all organizational levels o Projects can involve a single person, organizational unit or multiple organizational units. A ogoig ok effot is geeall a epetitie poess eause it follos a ogaizatios eistig procedures. (Not a Project) They are unique, specific, timely, usually multidisciplinary, and conflict ridden Do not exist under isolation; often parts of a larger entity or program Projects are parts of overall programs and may be broken down into tasks, subtasks, and further if desired. Attributes of a Project Has a welldefined objective Composed of a series of interdependent tasks Utilizes various resources Has a specific time frame Is a unique or onetime endeavor Has a sponsor or customer Involves a degree of uncertainty find more resources at oneclass.com
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