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GMS 450 (27)
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Department
Global Management Studies
Course
GMS 450
Professor
Armand Gervais
Semester
Fall

Description
Chapter 1- Project- nonroutine one time effort limited by Time budget resources and performance. It has established objective, specific deliverables, due date, budget quality attributes (time cost scope) strategic considerations- market demand, organizational needs, customer request, technology advance, legal reqirement, importance of pm- many tasks are not business as usual, need to assign responsibility/authority.. pm tecniques used for achieving strategic goals, achieving routine goals, improve project effectiveness, organic virtual projects, handling quasi projects. Life cycle- s and j shape..start slow develop momentum finish slow..OR start slow then rapid finnish. 4 phases – initiation, planning/development, execution(implementation), closeout (terminate). 1. Goals, specs, tasks ,responsibilities, 2. Schedule, budget, resources, risk, staffing, 3. Status reports, changes, quality, forecast. 4.train customer, transfer document, evaluation, lesson learned, financial methods – payback period. Outflow/inflow = PBP… discounted cash flow NPV = -I + sum (netcash in period/(1+k)^period k = discount/rate of return. Future opportunity analysos – buy or make/insource or outsource. Average annual rate of return = return/(capital^1/#of years) – 1 internal rate of return… interest rate that makes NPV = 0.. scoring methods.. unweighted 0-1 factor method… scores are obtained. Qualifies criteria = 1. Disqualifies criteria = 0 weighted scoring = weight * score Chapter 2 manager as facilitator or supervisor. Systems approach vs analytical approach. Avoid micromanagement, communicate. Client, senior mgmt./ outside interested parties.. project team. (INSIDE IS PM) read left to right. With up and down = mgmt. and parties) pm golden rule – never let boss be surprised. Pm responsibilities- acquire resource,fight obstacles, leadership, ability- negotiate, resolve conflict, persuade, avoid irrational optimism, characteristics, credible, sensitive(politically), leadership, intrateam conflict – life cycle(changes in phases), name only team (independent workers), interpersonal (personality) organizational currencies – task related, relationship, position, inspiration,personal, Chapter 3 – planning, 2 extreme approaches – ready fire aim, paralysis by analysis. Project charter- consists of most or all 9 items plus sign off, AON – activity on node, AOA – activity on arrow, General approach, technical and managerial approaches, relationship to other projects, deviations from standard practices Contractual aspects, agreements with clients and third parties, reporting requirements, technical specifications, project review datesm compliance with legal/environmental constraints RACI Matrix – responsible, acceptable, consult, inform DSM – design structure matrix – information flow and potential rework situation (X and os) Activity: an element of the project that requires time. Merge Activity: an activity that has two or more preceding activities on which it depends. Parallel (Concurrent) Activities: Activities that can occur independently and, if desired, not at the same time. Path: a sequence of connected, dependent activities.Critical path: the longest path through the activity network that allows for the completion of all project-related activities; the shortest expected time in which the entire project can be completed. Delays on the critical path will delay completion of the entire project. Event: a point in time when an activity is started or completed. It does not consume time.Burst Activity: an activity that has more than one activity immediately following it (more than one dependency arrow flowing from it). Chapter 4 – budget – plan for allocating organizational resources to project activities, top down 0 overall project cost estimated by estimated costs of major tasks, adv. Accuracy of estimating overall budget. Errors need not be individually identified, Bottom up – WBS, those responsible estimate resource requirements, adv. More accurate in detailed tasks, disadv. Risk of overlooking tasks. Work element costing.
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