GMS 401 Study Guide - Final Guide: Work Breakdown Structure, Project Planning, Microsoft Project

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Fatemeh Firouzi

Document Summary

A project is a unique large one-time job requiring special activities by different people. established to realize a specific objective in a limited time span. Projects go through a life cycle that involves initiation, planning and scheduling, execution, control and closeout. Most organizations are structured as a matrix with members working for both projects and a functional department. A project manager is responsible for all project activities from inception to close-out, including meeting the project performance goals of being on time and within quality specifications and budget. Project planning involves finalizing the project scope, creating the work breakdown structure, risk management planning, scheduling, cost estimation and budgeting, and quality, communications and purchase planning. Risk management planning involves risk identification, assessment and response. Scheduling/control gantt charts are used to schedule simple projects. Pert/cpm is used to schedule complex projects. A precedence network depicts the sequential relationships that exist among activities.