Full Solution Manual – Project Management: The Managerial Process (8th Edition, Erik W. Larson & Clifford F. Gray) | Latest 2025 Update

Project Management: The Managerial Proces
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Copyright © 2021 McGraw-
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Hill. All rights reserved. No reproduction or distribution without the prior written consent of McG
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raw-Hill.
1

, Project Management: The Managerial Proces
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Copyright © 2021 McGraw-
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Hill. All rights reserved. No reproduction or distribution without the prior written consent of McG
bk bk bk bk bk bk bk bk bk bk bk bk bk bk

raw-Hill.
2

, Project Management: The Managerial Proces
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Chapter 1 bk




Modern Project Management bk bk




Chapter Outline bk




1. What Is a Project?
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A. What a Project Is Not bk bk bk bk




B. Program versus Project bk bk



C. The Project Life Cycle
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D. The Project Manager
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E. Being Part of a Project Team
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2. Agile Project Management
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3. Current Drivers of Project Management
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A. Compression of the Product Life Cycle bk bk bk bk bk




B. Knowledge Explosion bk



C. Triple Bottom Line (Planet, People, Profit)
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D. Increased Customer Focus bk bk




E. Small Projects Represent Big Problems
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4. Project Management Today: A Socio-Technical Approach
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5. Summary
6. Text Overview
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7. Key Terms
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8. Review Questions bk



9. Snapshot from Practice: Discussion Questions
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10. Exercises
11. Case 1.1: A Day in the Life—2019
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12. Case 1.2: The Hokies Lunch Group
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Copyright © 2021 McGraw- bk bk bk

Hill. All rights reserved. No reproduction or distribution without the prior written consent of McG
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raw-Hill.
3

, Project Management: The Managerial Proces
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Chapter Learning Objectives bk bk




After reading this chapter you should be able to:
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LO 1-1
bk Understand why project management is crucial in today’s world.
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LO 1-2
bk Distinguish a project from routine operations. bk bk bk bk bk




LO 1-3
bk Identify the different stages of a project life cycle.
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LO 1-4
bk Describe how Agile PM is different from traditional PM.
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LO 1-5
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Understand that managing projects involves balancing the technica bk bk bk bk bk bk bk


l and sociocultural dimensions of the project.
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Review Questions bk




1. Define a project. What are five characteristics which help differentiate proje
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cts from other functions carried out in the daily operations of the organizat
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ion?

A project is a complex, non-routine, one-
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time effort limited by time, budget, resource, and specifications. Differentiating cha
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racteristics of projects from routine, repetitive daily work are below:
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a. A defined lifespan
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b. A well-defined objective
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c. Typically involves people from several disciplines
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d. A project life cycle
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e. Specific time, cost, and performance requirements.
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2. What are some of the key environmental forces that have changed the
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way projects are managed? What has been the effect of these forces on
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the management of projects?
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Some environmental forces that have changed the way we manage projects are the
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product life cycle, knowledge growth, global competition, organization downsizing,
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technology changes, time-to- bk bk


market. The impact of these forces is more projects per organization, project teams
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responsible for implementing projects, accountability, changing organization structu
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res, need for rapid completion of projects, linking projects to organization strategy
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and customers, prioritizing projects to conserve organization resources, alliances wi
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th external organizations, and so on.
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3. Describe the four phases of the traditional project life cycle. Which phase do
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Copyright © 2021 McGraw- bk bk bk

Hill. All rights reserved. No reproduction or distribution without the prior written consent of McG
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raw-Hill.
4