Chat with AIExam 6: Project Management
How would you recognize that a project is being managed well? What clues would you look for?
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VerifiedWell-managed projects meet performance, timing and cost objectives with a minimum amount of hassle. Well-managed projects are selected because of their ability to support the overall goals and objectives of an organization, move the organization towards its vision and mission. Without projects, organizations lack a long term focus and focus solely on doing day-to-day activities. Conversely, poorly managed projects are costly for an organization. A project that does not achieve its goals and objectives, or one that is not aligned with the goals and objectives of the organization, wastes time, money and other resources. Misdirected projects, poorly planned projects or poorly guided projects are demoralizing for the organization's members. Care must be taken to ensure that projects are appropriately selected to support the organization's mission and goals. Once selected, a project must be served well by its project manager and team in order to ensure its successful completion.
What makes a project different from day-to-day work activities?
(42) VerifiedA project is different from day-to-day work activities because they are unique, one time only occurrences designed to fulfill specific goals for an organization.
What are the components of a sound project plan? Why is it worth making the effort to develop a sound project plan?
(25) VerifiedProjects have three interrelated objectives: meeting the budget, finishing on schedule and meeting the performance specifications set by the client. Project plans provide the information about:
-Mission and deliverables
-Specific goals and objectives supporting the mission and its deliverables
-Tasks required to meet the goals and objectives
-Technicalities of who, what, where, when, why and how
-Schedules, the time needed to support each aspect of the plan
-Resources, what is needed to support each aspect of the plan
-Cost analysis
-Value analysis
-Personnel, who is needed to support each aspect of the plan
-Personnel, responsibilities and assignments
-Evaluation measures for keeping the project on track
-Risk analysis, what could go wrong and how will it be dealt with?
-Project change management process
A good project plan enables an organization to accomplish all three. Though a project plan may be modified several times during a project, effective project plans remain key to organizational success because no project always goes according to plan, but well planned projects are less likely to go astray.
Why are measures of performance critical to project evaluation and control?
(39) What are the resources that a project must compete for against other projects?
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