Lecture 2_Outline

Lecture 2_Outline - Lecture 2 - Outline Lecture 2: Project...

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Lecture 2 - Outline 1 Lecture 2: Project Management (Textbook: Chapter 2) Objectives ¾ To define projects and their underlying goals ¾ To have a basic understanding of project management and different activities involved in planning projects. ¾ To solve problems related to project management in which each activity has a single time estimate for completion ¾ To solve problems that examine minimum cost structure for projects ¾ To solve problems in which we have a probabilistic time estimate for each activity A. Project Management Across the Organization 1. Define a project A project is an interrelated set of activities with a definite starting and ending point, which results in a unique outcome for a specific allocation of resources. a. Three main goals of any project ¾ Complete the project on time or earlier. ¾ Do not exceed the budget. ¾ Meet the specifications to the satisfaction of the customer. 2. Define Project management Project management is a systemized, phased approach to defining, organizing, planning, monitoring, and controlling projects. Projects often require resources from many different parts of the organization Each project is unique Projects are temporary Programs: A collection of projects is called a program, which is an interdependent set of projects with a common strategic purpose. B. Planning Projects Planning projects involve five steps. 1. Defining the work breakdown structure (WBS) -- a statement of all work that has to
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Lecture 2 - Outline 2 be completed. An activity is the smallest unit of work effort consuming both time and resources that the project manager can schedule and control. Each activity must have an owner who is responsible for doing the work 2.
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Lecture 2_Outline - Lecture 2 - Outline Lecture 2: Project...

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