GMS 450 Chapter Notes - Chapter 1: Project Management Institute, Nyishi (Tribe), Project Charter
20 Jan 2017
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Document Summary
Interrelated set of activities with a de nite stat and end point, which results in a unique outcome for a speci c allocation of resources. Each task is speci c and unique with a speci c deliverable aimed at meeting a speci c need or purpose. Project management institute (pmi) de nes a project as a temporary endeavour undertaken to create a unique product or service . The project schedule, budget, and speci cation con ict with each other. The performance of a project is measured by three criteria. A projects life cycle measures project completion as a function of either time (schedule) or resources (budget) >they start slowly, develop momentum, and then nish slow. >they start slowly, proceed slowly, and then nish rapidly. Firms use new product development process as the rst stage in generating and commercializing new products to maintain or grow their market share.
