MSTM 6700M - Self Study Questions Ch. 1, 2.docx

MSTM 6700M - Self Study Questions Ch. 1, 2.docx - Alexa...

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Alexa Mogle Self-Study Questions 211631256 Chapter 1 1. Define a project. What are five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization? A project is an individual or group exercise consisting of a complex, nonroutine and one-time effort with restrictions from budget, resources and performance specifications to meet customer’s needs. Five characteristics that help differentiate projects from other functions carried out in the daily operations of an organizations include: an established objective, defined life span with beginning and end, requirement of across-the-organizational participation, novel efforts and has specific time, cost and performance requirements. 2. Why is the implementation of projects important to strategic planning and the project manager? Project management aligns with the business and company strategy. Therefore, project implementation is required as steps and pieces of the puzzle to achieve company strategy. Everything that everyone does
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