Assignment Chapter 1.doc - Brandon Vincent Assignment...

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March 25, 2018 Brandon Vincent Assignment Chapter 1 Review Questions: 1. A project is a temporary endeavor undertaken to create a unique product, service, or result. a) An established objective b) A defined life span with a beginning and an end c) Usually, the involvement of several departments and professionals d) Typically, doing something that has never been done before e) Specific time, cost, performance requirements 2. Driving forces: a. The shortening of the product life cycle Speed became a competitive advantage. Hence, delivering new products and services as quickly as possible, before your competitors do, is one of the key elements of projects b. Knowledge explosion Amount of data that needs to be processed in every project during a defining and planning stage has increased the complexity of projects making project management more challenging c. Negative changes in environment (eg. the threat of global warming) Business can no longer focus on maximizing profit to the detriment of the environment and society, significant changes to the project objective and management techniques have been made. d. Corporate downsizing In rapidly changing organizations with a flat and lean structure, project management is replacing middle management as a way of ensuring that things get done. Companies outsource whole projects, or their parts and project managers have to manage not only their people but also their counterparts in different organizations.
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