Project Management The Managerial.pdf

1. Define a project. What are five characteristics which help differentiate projects from other functions carried out in the daily operations of the organization? A project is a complex, non routine, one-time effort limited by time, budget, resource, and specifications. Differentiating characteristics of projects from routine, repetitive daily work are below: a. A defined life span b. A well-defined objective c. Typically involves people from several disciplines d. A project life cycle e. Specific time, cost, and performance requirements. 2. What are some of the key environmental forces that have changed the way projects are managed? What has been the effect of these forces on the management of projects? Some environmental forces that have changed the way we manage projects are the product life cycle, knowledge growth, global competition, organization downsizing, technology changes, time-to-market. The impact of these forces is more projects per organization, project teams responsible for implementing projects, accountability, changing organization structures, need for rapid completion of projects, linking projects to organization strategy and customers, prioritizing projects to conserve organization resources, alliances with external organizations, etc. 3. Why is the implementation of projects important to strategic planning and the project manager? Strategic plans are implemented primarily through projects—e.g., a new product, a new information system, a new plant for a new product. The project manager is the key person responsible for completing the project on time, on budget, and within specifications so the project’s customer is satisfied. If the project is not linked to the strategic plan of the organization, resources devoted to the project are wasted and a customer need is