homework 1

Topics: Project management, Management, Leadership Pages: 2 (423 words) Published: February 2, 2015
1. Why is there new (or renewed) interest in the field of project management? Because the number of projects have grown and their complexity have increased. 2. What is a project, and what are its main attributes? How does a project differ from what most people do in their daily jobs? What is the triple constraint? A project is a temporary endeavor undertaken to create a unique product, service, or result. Projects are unique, temporary, and developed incrementally. They require resources, have a sponsor, and involve uncertainty. The triple constraints are quality, resources, and risks. 3. What is project management?  Briefly describe the project management framework, and provide examples of stakeholders, knowledge areas, tools and techniques, and project success factors. Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. Framework for project management includes the project stakeholders, project management knowledge areas, and project management tools and techniques. Stakeholders are the people involved or affected by project activities. Some examples of knowledge areas are project integration management, time, cost, and quality. Some examples of tools and techniques are project selection methods, scope statements, and project budgets. Some project success factors are that the project meets the scope, time, and cost goals, that the project satisfies the customer/sponsor, and that the results of the project meets the main objectives. 4. What is a program? What is a project portfolio?  Discuss the relationship between projects, programs, and portfolio management and the contributions they each make to enterprise success. A program is a group of related projects managed n a coordinated way to obtain benefits and control that are not available from managing the projects individually. A project portfolio involves organizing and managing projects and programs as a portfolio of...
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