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

Project Management: The Managerial Process
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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 Process
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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.
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, Project Management: The Managerial Process
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Chapter 1 e0




Modern Project Management e0 e0




Chapter Outline e0




1. What Is a Project?
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A. What a Project Is Not e0 e0 e0 e0




B. Program versus Project e0 e0



C. The Project Life Cycle
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D. The Project Manager e0 e0




E. Being Part of a Project Team e0 e0 e0 e0 e0



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 e0 e0 e0 e0 e0




B. Knowledge Explosion e0



C. Triple Bottom Line (Planet, People, Profit)
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D. Increased Customer Focus e0 e0




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 e0



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- e0 e0 e0

Hill. All rights reserved. No reproduction or distribution without the prior written consent of McG
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, Project Management: The Managerial Process e0 e0 e0 e0




Chapter Learning Objectives e0 e0




After reading this chapter you should be able to:
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LO 1-1
e0 Understand why project management is crucial in today’s world. e0 e0 e0 e0 e0 e0 e0 e0




LO 1-2
e0 Distinguish a project from routine operations. e0 e0 e0 e0 e0




LO 1-3
e0 Identify the different stages of a project life cycle.
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LO 1-4
e0 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 technical e0 e0 e0 e0 e0 e0 e0


e0 and sociocultural dimensions of the project.
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Review Questions e0




1. Define a project. What are five characteristics which help differentiate project
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s from other functions carried out in the daily operations of the organization
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?

A project is a complex, non-routine, one-
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time effort limited by time, budget, resource, and specifications. Differentiating char
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acteristics 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 e0 e0 e0 e0 e0


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 wa
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y projects are managed? What has been the effect of these forces on the
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management of projects? e0 e0




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- e0 e0


market. The impact of these forces is more projects per organization, project teams r
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esponsible for implementing projects, accountability, changing organization structur
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es, need for rapid completion of projects, linking projects to organization strategy a
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nd customers, prioritizing projects to conserve organization resources, alliances with
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external organizations, and so on.
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3. Describe the four phases of the traditional project life cycle. Which phase do yo
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Copyright © 2021 McGraw- e0 e0 e0

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