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ProjectManagement - This page contains a JavaScript...

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This page contains a JavaScript function that prints out the current frame document. To print out the document without using JavaScript, you need to press Control P. | Print | Contents | Close | Basic concepts in project management Learning objective After completing this topic, you should be able to identify the basic concepts involved in project management. 1. Introducing projects To meet their business needs, organizations perform operations and initiate projects. Operations are ongoing and repetitive. Projects are distinct from operations in that they are temporary and unique. A project can be defined as a temporary endeavor undertaken to create a unique product, service, or result. Temporary endeavor Unique product, service, or result Temporary endeavor A project is temporary because it is finite – it has a definite beginning and a definite end. In addition, most typical projects have a limited timeframe in which to attain their objectives and the project team usually disbands once the project is complete. A project's temporary nature does not indicate that a project must be short. In fact, many projects such as constructing a new building or developing a new drug last for many years. Neither does its temporary nature indicate that the result of a project has a finite end. For example, when a project of moving an organization's premises has finished, the organization remains in the new premises once the project has closed. A project continues until its objectives have been met, when it's established the objectives cannot be met, or when the business need the project was addressing no longer exists. Unique product, service, or result
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Projects are often initiated to respond to a need that cannot be addressed by an organization's normal operations. Because a project exists to meet a previously unaddressed need, its result is a unique product or service. While it's true that the category to which the result belongs may be common, the result of the project itself is unique. It can be distinguished from all other projects and services. For example, an organization may initiate a project to develop an online booking service on their web site. While there are many online booking services on the Web, the one addressed by the project is unique to the organization that initiated the development. In addition, many of its components, such as its coding and design, are unique. Projects can take many forms, from developing software to moving offices. Managing a project involves keeping it on track, making trade-offs, calculating critical paths, and comparing actual against planned performance. Question Identify the most accurate definition of a project. Options: 1. An ongoing and repetitive effort undertaken to sustain and support an organization's strategic plan 2. An ongoing and repetitive effort undertaken to create a unique product, service, or result 3. A temporary endeavor undertaken to create a unique product, service, or result Answer
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