Initial Planning Name: David T. Browne Instructor: Dr. Penny Wilkins Bus 517: Project Management – The Managerial Process Date: January 29th‚ 2011 Describe the elements of scope for the project In discussing the elements of scope for the project‚ we can look at the scope checklist which gives us the ingredients of the scope definition. These elements in the checklist are as follows: project objective‚ deliverables‚ milestones‚ technical requirements‚ limits and exclusions‚ and
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1. Compliance Projects: d‚g‚i Strategic Projects: b‚e‚f‚h Operational Projects: a‚c‚j Since the new strategy of the hotel is clearly identified‚ it was easy to classify the strategical projects. There are some similar projects within the list. It was a bit difficult to classify the projects whether they are operational or compliance. *-*-*-*-*-*- In order to manage all the listed projects in an efficient way‚ It is essential to prioritize them. Because as we did above
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Beach on the Island of Kauai in Hawaii. You are shifting the focus of your resort from a traditional fun-in-the-sun destination to eco-tourism. (Eco-tourism focuses on environmental awareness and education.) How would you classify the following projects in terms of compliance‚ strategic‚ and operational? a. Convert the pool heating system from electrical to solar power. b. Build a 4-mile nature hiking trail. c. Renovate the horse barn. d. Replace the golf shop that accidentally
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Projects are composed of process. A process is “a series of action bringing about a result”. Project processes are performed by people and generally fall into one of two major categories: 1. Project management processes are concerned with describing and organizing the work of the project. 2. Product-oriented processes are concerned with specifying and creating the project product. These processes are known as project life cycle. It is important to note that many of the processes within project
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Modern Project Management. 1. Project: A project is an effort or endeavor undertaken for a period of time in the purpose to build‚ create or achieve a unique product‚ services or result. The Characteristics are: * It has an established objective. * It has a defined life span i.e. (Beginning and end) * It involves the input of several departments and professionals. * It’s Unique‚ because it is what has never been done before. * It makes vital use of specific time‚ cost and
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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
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Chapter 2 Homework Problem 1: | Project Cost | Net Cash Flows | Payback | Project A | 250‚000.00 | 75‚000.00 | 3.33 | Project B | 150‚000.00 | 52‚000.00 | 2.88 | Project B is better. It is less risky because it has a payback period of 2.88 or 2 years and 10 months. Problem 2: Average Rate of Return: ? Annual Profits: 30‚000.00 Project Cost: 200‚000.00 Average Rate of Return = $30‚000/$200‚000 = 0.15 = 15% Problem 3: Year | Nominal Cash Flow | Discounted Cash Flow
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Institut f¨ r Technische Mathematik‚ u Geometrie und Bauinformatik Universit¨ t Innsbruck a Technikerstr. 13 6020 Innsbruck Austria Dipl.-Ing. Robert Vieider Vieider Ingenieur GmbH Rebschulweg 1/E 39052 Kaltern an der Weinstraße Italy ISBN 3-540-22246-4 Springer Berlin Heidelberg New York Library of Congress Control Number: 2004112073 This work is subject to copyright. All rights are reserved‚ whether the whole or part of the material is concerned‚ specifically the rights of translation
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Case Study 3 It was agreed upon by a board of top engineers that the basic design was sound and the suspension bridge had been constructed competently. The project’s original plan and scope management may have been an appropriate one if it was for a shorter bridge. Since this bridge was so long The planners started taking unknown and unnecessary risks when they determined the width of the bridge would be single lane versus double and when they changed the girders from round to flat‚ preventing
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Chapter 3: The Project Management Process Groups: A Case Study Learning Objectives o Describe the five project management (PM) process groups‚ the typical level of activity for each‚ and the interactions among them. o Understand how the project management process groups relate to the project management knowledge areas. o Discuss how organizations develop IT project management methodologies to meet their needs. Learning Objectives (Cont.) o Review a case study of an organization applying
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