BA310-2-6 Strategy Clicker Master

BA310-2-6 Strategy Clicker Master - BA 310: Project...

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1 BA 310: Project Management & Strategic Management
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2 Admin Remember: Exam is now on Monday Apr 2 Last Lecture (HRM) for Part II on Mar 26 Review on Mar 28 Preliminary Study Guide on Compass tomorrow Experimetrix Email List If you’re registered, you should have received an email If not, contact mmccart6@uiuc.edu To opt out, reply to email with unsubscribe
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3 Criticisms of Planning: “The Plan is not the Territory” Negative implications of these biases: Planning can slow adaptation to competitive changes The organization focuses internally, on the plan – rather than externally, on competitive realities. Planning tends to produce strategies that leverage current strengths: Can shortchange pursuit of long-term, high-risk, “blue-sky” opportunities (Apple & Jobs) Together, these biases can lead to escalation of commitment Deciding to work hard in a familiar direction, instead of changing course. And thus risking “throwing good money after bad.”
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4 Effective Planning in Dynamic Environments The Planning process can be very valuable, even if the plan itself rapidly becomes outdated, . Planning produces information, conflict resolution, sets direction. Recognize that planning is an ongoing process Plans rarely are followed from start-to-end without major change Remain focused on competitive (environmental) changes Be ready to adjust the plan or throw it away (very hard to do). Remember the plan (or budget) is not the territory
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5 Project Management Project Management: Managing a project’s activities with the goals of being on time, within budget, and according to specifications Project - a one-time-only set of activities that has a definite aim, as well as a beginning and ending point in time Different planning procedures are needed than, say, are in a quarterly budgeting process. Increased emphasis on project planning in organizations.
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6 Project Examples Developing a new product or service Designing a new vehicle Running a political campaign Building a bridge Sending a probe to Mars Setting up an e-commerce internet site
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7 Project Management Process Define objectives Establish sequences Identify activities and resources Compare with objectives Estimate time for activities Determine project completion date Determine additional resource requirements Project Management Process (People) Team created from appropriate work areas Team reports to a project manager (varying approaches) Project manager coordinates activities Team disbands when project is completed
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8 Challenges facing Project Managers Project managers have limited authority Must rely on communication and persuasion Projects are dynamic Need to adjust the plan without losing credibility Team members’ commitment is problematic Team members often have other responsibilities
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9 Project Management Tools: Gantt charts – Manage activities Load charts – Manage resources PERT charts – Manage activities on more complex projects
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BA310-2-6 Strategy Clicker Master - BA 310: Project...

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