Wayne State University Project Management Paper

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Business Finance

Wayne State University

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Write a two page paper regarding what you thought on Project Management overview and what was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding. Define and describe what you thought was worthy of your understanding in half a page, and then explain why you felt it was important, how you will use it, and/or how important it is in project planning.

Strict APA Format with in text citation and 2 references.No plagiarism

Please refer to the below attachment to complete the assignment.


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Project Management Overview This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Purpose of the chapter • • • • • • Define a project Define project success Project constraints Project management expertise The project environment Project management knowledge and skills This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Define a project • • • • Define a project: Unique product or service Time-limited Project ends when the objectives are achieved or abandoned This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Unique • How can you tell that an activity is unique? • Completely new product or service • Creation of new process • Product or service new to this group of people This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Time-limited • May have a start and end date • May be measured as “will be complete when a particular objective is achieved” • If it simply continues forever or to an unspecified enddate it is probably an ongoing business activity This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Can tell when it is done • Objective is achieved • Time limit is reached • Objective is abandoned This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Project Success • Traditionally: on time, within budget and delivers the promised scope • More effective measure: satisfied customer This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Group work • In small groups, try to identify the LARGEST project each of you have been involved with. • You do not have to have been the project manager—if not, what was your role? (team member, volunteer, purchaser, ??) • With the group, make it clear how the project you have identified meets the criteria: • Unique • Temporary This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Project constraints • • • • • • Cost Scope Quality Risk Resources Time This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Triple constraint • All the constraints can be grouped into these three: The triad constraints by John M. Kennedy T. (http://commons.wikimedia.org/wiki/File:The_triad_constraints.jpg) used under CC-BY-SA license (https://creativecommons.org/licenses/by-sa/3.0/) This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Project Management Expertise • Application knowledge • Industry group • Technical specialty • Managerial area • Understanding the project environment • Cultural, social, political, international, physical • Management knowledge and skills • Interpersonal skills • Communication, influence, leadership, motivation, negotiation and problem solving This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Project Management Standards • Standards organizations • PMI • Project Management Institute: http://www.pmi.org/ • CAPM, PMP and other professional standards • IPMA • International Project Management Association: http://ipma.ch/ • Several certifications This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Summary • Project definition: unique, time-limited, can tell when it is over • Project success: satisfied client • Project constraints: time, scope, cost • Project management expertise • The project environment • Project management knowledge and skills This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview Questions? This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 2: Project Management Overview
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Explanation & Answer

pls check the attached file. let me know if u want any changes.

Project Management

Project management is an effort towards managing projects to achieve specific goals at
certain predefined time frame. It includes initiation, planning as well as proper closing of the
project. Project can be defined as a set of activities needed to be performed with certain constraints
(Nagarajan, 2005). Project has certain characteristics such as objectives, life cycle, time limit, or
uniqueness. Projects are unique in terms of goals and objectives. They can be related to creating
new product, process or service. Difference in customer with same project is also example for
uniqueness. Generally, projects are defined with a certain timeframe. This includes a start date as
well as end date. Time can be also defined as certain task completion is achieved. Generally,
project wh...


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