the managerial process chapter 1 and 2
Chapter 1
Review Questions
1. A project is defined, according to the Project Management Insitute, as a temporary endeavor undertaken to create a unique product, service, or result.
Five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization are as follows:
1. An established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of serveral departments and professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.
2. Some of the key environmental forces that have changed the way projects are managed are as follows:
(a) Shortening of the product life cycle. Products life cycle currently averages 1 to 3 years. Projects must be done at a much faster rate to keep up with the ongoing shortening of this cycle.
(b) Increased complexity of the projects due to a growth in society’s knowledge and advancements in technology.
(c) Increased focus on the utilization of renewable resources, and reducing carbon imprints. “Greener” efforts are practiced much more.
(d) Corporate Downsizing. Project management is replacing middle management. Outsourcing project work is more common.
(e) Increased customer attention and competition. Customized products and services that cater to specific needs are being more sought after by the consumers.
3. The implementation of projects is important to strategic planning and the project managers because it can significantly determine the success of a project. Strategic plans must not be independent decisions made by different groups but rather a consicisive decision made by one or few groups. Independent decisions cause conflict, confusion and waste time. Strategic alignment of projects is of major importance to conserving and effective use of organization resources. Selection criteria need to ensure each project is prioritized and
Review Questions
1. A project is defined, according to the Project Management Insitute, as a temporary endeavor undertaken to create a unique product, service, or result.
Five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization are as follows:
1. An established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of serveral departments and professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.
2. Some of the key environmental forces that have changed the way projects are managed are as follows:
(a) Shortening of the product life cycle. Products life cycle currently averages 1 to 3 years. Projects must be done at a much faster rate to keep up with the ongoing shortening of this cycle.
(b) Increased complexity of the projects due to a growth in society’s knowledge and advancements in technology.
(c) Increased focus on the utilization of renewable resources, and reducing carbon imprints. “Greener” efforts are practiced much more.
(d) Corporate Downsizing. Project management is replacing middle management. Outsourcing project work is more common.
(e) Increased customer attention and competition. Customized products and services that cater to specific needs are being more sought after by the consumers.
3. The implementation of projects is important to strategic planning and the project managers because it can significantly determine the success of a project. Strategic plans must not be independent decisions made by different groups but rather a consicisive decision made by one or few groups. Independent decisions cause conflict, confusion and waste time. Strategic alignment of projects is of major importance to conserving and effective use of organization resources. Selection criteria need to ensure each project is prioritized and