COMM 225 Chapter Notes - Chapter 17: Longest Path Problem, Critical Path Method, Project Planning

• School: Concordia University
• Department: Commerce
• Course: COMM 225
• Professor: Peter Rosenthal

Document Summary

Project: unique, large, one-time job requiring special activities to accomplish a specific objective in a limited time frame. Projects go through a series of stages or phases a life cycle which include project initiation, planning & scheduling, execution, control, and closeout. In a company, the project initiator/sponsor is usually a senior manager/vp. Deciding which projects to implement is called project portfolio selection. Performance goals: for a project; keeping the project within schedule, budget, & quality guidelines. Project execution involves purchasing the material, & using the team members & subcontractors to perform the activities/tasks. Most organizations use a matrix organization that temporarily groups together specialists from different departments to work on special projects. The pm is the person responsible for planning, scheduling, executing, & controlling a project from inception to completion, (cid:373)eeti(cid:374)g the p(cid:396)oject"s (cid:396)e(cid:395)ui(cid:396)e(cid:373)e(cid:374)ts & e(cid:374)su(cid:396)i(cid:374)g co(cid:373)pletio(cid:374) o(cid:374) ti(cid:373)e, within budget, and to required quality standard. Responsibilities of pm: the work, the human resources, communications, quality, time, costs.