Project Management L1
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Project Management L4 Entrep lesson l4 strategic management L1 STRATE
20 terms 36 terms 39 terms 8 terms
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Terms in this set (22) Hide definitions
• has distinctive attributes that distinguish it from ongoing PROJECT
work or business operations.
• Specifically, projects are temporary in nature. Therefore,
they are not an everyday business process, but they are
unique and have definitive start dates and end dates.
• Projects exist to bring about a product or service that
has not existed before. In this sense, a project is unique.
Unique means that this is new; it has never been done
before.
• It is collection of small projects to deliver or achieve PROGRAM
certain higher goal.
• The simplest example for program is the degree
program in a school or college, where multiple courses
correspond to the projects. In this a program will be
completed when all projects are completed and the
certificate/degree is awarded.
, • In contrast with projects, operations are ongoing and OPERATION
repetitive.
• They involve work that is continuous without an ending
date and with the same processes repeated to produce
the same results.
• The purpose of operations is to keep the organization
functioning while the purpose of a project is to meet its
goals and objectives. Therefore, operations are ongoing
while projects are unique and temporary.
OPERATIONS VS PROJECTS
• Project management addresses temporary endeavors,
with a start and end date, while operations management
focuses on improving ongoing operations.
• For example, constructing a new factory is a project,
while producing bicycle tires in that factory is an
operation.
• the discipline of planning, organizing, and managing PROJECT MANAGEMENT
resources to bring about the successful completion of
specific project goals within defined constraints (time,
budget, scope).
• It involves various processes like initiation, planning,
execution, monitoring, and closure.
is crucial for organizations as it ensures efficient resource
utilization, aligns objectives, and enhances the likelihood
of achieving
TYPES OF PROJECTS strategic
operational
compliance
Projects involve creating something new and innovative. Strategic
A new product, a new service, a new retail location, a
new branch or division, or even a new factory might be a
strategic project, because it will allow an organization to
gain strategic advantage over its competitors.
Leave the first rating
Save Groups
Students also studied
Flashcard sets Study guides
Project Management L4 Entrep lesson l4 strategic management L1 STRATE
20 terms 36 terms 39 terms 8 terms
juvs_Hndsm Preview juvs_Hndsm Preview juvs_Hndsm Preview juvs
Terms in this set (22) Hide definitions
• has distinctive attributes that distinguish it from ongoing PROJECT
work or business operations.
• Specifically, projects are temporary in nature. Therefore,
they are not an everyday business process, but they are
unique and have definitive start dates and end dates.
• Projects exist to bring about a product or service that
has not existed before. In this sense, a project is unique.
Unique means that this is new; it has never been done
before.
• It is collection of small projects to deliver or achieve PROGRAM
certain higher goal.
• The simplest example for program is the degree
program in a school or college, where multiple courses
correspond to the projects. In this a program will be
completed when all projects are completed and the
certificate/degree is awarded.
, • In contrast with projects, operations are ongoing and OPERATION
repetitive.
• They involve work that is continuous without an ending
date and with the same processes repeated to produce
the same results.
• The purpose of operations is to keep the organization
functioning while the purpose of a project is to meet its
goals and objectives. Therefore, operations are ongoing
while projects are unique and temporary.
OPERATIONS VS PROJECTS
• Project management addresses temporary endeavors,
with a start and end date, while operations management
focuses on improving ongoing operations.
• For example, constructing a new factory is a project,
while producing bicycle tires in that factory is an
operation.
• the discipline of planning, organizing, and managing PROJECT MANAGEMENT
resources to bring about the successful completion of
specific project goals within defined constraints (time,
budget, scope).
• It involves various processes like initiation, planning,
execution, monitoring, and closure.
is crucial for organizations as it ensures efficient resource
utilization, aligns objectives, and enhances the likelihood
of achieving
TYPES OF PROJECTS strategic
operational
compliance
Projects involve creating something new and innovative. Strategic
A new product, a new service, a new retail location, a
new branch or division, or even a new factory might be a
strategic project, because it will allow an organization to
gain strategic advantage over its competitors.
