MGT 172 Chapter 1: Chapter 1_ Modern Project Management
27 Jan 2019
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Document Summary
A project is a temporary endeavor undertaken to create a unique product, service, or result. A defined life span with a beginning and an end. Usually the involvement of several departments and professionals. A program is a group of related projects designed to accomplish a common goal over an extended period of time. There can be many projects under a program. Physical product is produced (a bridge, a report, a software program)/ time, cost and specification measures are used for control. What revisions/changes are necessary: closing stage: closing includes 3 activities: delivering project product to customer, redeploying project resource, and post-project review. Work with a diverse troupe of characters to complete projects. The direct link to the customer and must manage tension between customer expectations and what is feasible and reasonable. Provide direction, coordination, and integration to the project team. For high-tech product development, 6 month project delay can result in 33% loss in product revenue share.
