BUSI 3309 Chapter Notes - Chapter 1: Outsourcing, Triple Bottom Line, High Tech
24 Aug 2015
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Document Summary
Is a temporary endeavor undertaken to create a unique product, service, or result. The importance of project management: provides people with a powerful set of tools that improves their ability to plan, implement, and manage activities to accomplish specific organizational objectives. Compression of the product life cycle today in high-tech industries the product life cycle is averaging 1 to 3 years. Only 30 years ago, life cycles of 10 to 15 years were not uncommon. The growth in new knowledge has increased the complexity of projects because projects encompass the latest advances. They want customized products and services that cater to their specific needs. This mandate requires a much closer working relationship between the provider and the receiver. Project management today an integrative approach: now project management has spread to all avenues of work. Today, project teams carry out everything from port expansions to hospital restructuring to upgrading information systems.
