Lecture 1_section 2 - Project Management Matt Wimble...

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Project Management Matt Wimble [email protected] 1/9/2011
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Projects What are they? Unique Limited time Why are they important? Lots of money…~30% of GDP Failure rates are more common and higher cost
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1 3 What is a Project? Project Defined A complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs. Major Characteristics of a Project Has an established objective. Has a defined life span with a beginning and an end.
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1 4 Programs versus Projects Program Defined A series of coordinated, related, multiple projects that continue over an extended time and are intended to achieve a goal. A higher level group of projects targeted at a common goal. Example: Project: completion of a required course
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Project Examples Big Dig-Boston Budgeted in 1998 at $2.4B Actual cost $14.6B…$22B with interest Criminal arrests F22 $26B v. $62B Denver Airport $2.8B v. $4.8B 16 Months behind schedule
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This note was uploaded on 02/23/2012 for the course BA 320 taught by Professor Mattwimble during the Winter '10 term at University of Michigan-Dearborn.

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Lecture 1_section 2 - Project Management Matt Wimble...

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