Hoover Dam: Project Risk and Reward

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The PMBOK Guide 4th ed. defines a project as:
proj·ect [n. proj-ekt, -ikt; v. pruh-jekt]- a temporary endeavor undertaken to create a unique product, service, or result.
The construction of the Hoover Dam is an example of a project. It is considered a project because it was a temporary endeavor and it had to go through the five stages of a project. There was an initiation phase. This phase defines the needs and of the project. The Hoover Dam construction project was initiated due to the flooding of the salt mines in the area. By damming the Colorado River, flooding could be reduced while having electricity produced. There are many tools that can be used in this phase. Among those tools, the problem definition tool, the problem tree tool, and the IS-IS NOT tool are all examples that may have been used during this phase, because they help define what the project need is. Then the planning phase was conceptualized. This phase is responsible for establishing the scope of the project, defining objectives and the course of action. It took place during 1920's to pacify the Colorado River because of the constant flooding of the Imperial Valley. The planning phase took over 15 years. Tools that may have been used in this phase might include the information gathering plan, the organizational structure tool, and the information matrix tool. “These tools provide information such as team member responsibilities, quality control tests, and other information that is crucial to the success of the project.” (Office Design Concepts, n.d.) The third phase of the project is the execution phase. In this phase, the processes that were agreed upon in the planning phase are performed. The processes of building Boulder City up to the completion of the dam were included in this phase. Tools that would be useful in this phase would be the ghant chart tool, the project communication plan, and the project contract. These are all useful tools because they help lay out time...
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