BA 341 1st Edition Lecture 19Outline of Last Lecture I. Ch. 7(S) – Break-even AnalysisII. QM A – Decision-Making ToolsIII. Module D - Waiting Line Analysis (Queueing)Outline of Current Lecture IV. A ProjectV. Characteristics of a ProjectVI. Main Project Objectives VII. The Project ManagerVIII. Project SchedulingIX. Work Breakdown StructureCurrent LectureIntroduction to Project Management A project is - a temporary endeavor undertaken to create a unique product or service. Characteristics of a Project- Purpose – a one-time activity with well- defined desired end results- Temporary – has a definite beginning and a definite end, hence a finite duration- Life Cycle - projects evolve in steps -> from a slow beginning they progress to a build-up of size, then peak, begin a decline and then must be terminated- Interdependencies – projects can interact with other projects within the same parent organization and most typically, with the functional departments (marketing, finance, manufacturing, etc) of the firm;o How are projects organized? As part of the functional organization Matrix organization Pure Project- Uniqueness - every project has elements that make it unique – e.g. an office building hasdifferent owners, design, location, contractors, etc.These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Conflict - projects vs. functional dept. and project vs. project with respect to resources and personnelExamples of ProjectsHonda introduces InsightApple launches iOS 6Construction of Haslam Business BuildingColumbia Pictures produces “The Amazing Spider-Man”Pfizer launches SudafedWhy Project Management?- Exponential expansion of knowledge- Growing demand for complex, customized goods and services- Globalization of worldwide markets- Ever expanding size of projectsMain Project Objectives1. Performance (scope) refers to the outcomes, deliverables of the project and compares them against project specifications and stakeholders’ expectations; 2. Cost3. TimeThe Project Manager- Responsible too The parent organizationo The cliento The project team- Major challenges o Selecting and motivating the personnelo Dealing with obstacleso Making project goal trade-offso Communicating with all partieso Dealing with project risks and potential failureWhat is takes to be a good project manager?- Strong technical and managerial background Credibility- Excellent communication skills- Excellent organizational (planning, goal-setting) skills- Negotiator and team-builder- Sensitive to political issues- Ability to handle pressure The role of Project Manager consists of,Constantly balancing customer expectations and achievement of internal business objectives, while simultaneously delivering within the triple constraint (Schedule, Costs, Requirements).Project SchedulingGoal - Want to identify and use effective tools for planning, scheduling and monitoring project progress Common inputs to Project Scheduling - List of project tasks, subtasks, work packages and activities- Logical sequence of activities in the project- Activity durations- Resources involved and their availability- Usually presented as o Work breakdown structure (WBS)o Precedence tablesWork Breakdown StructureLevel 1 – The project (main task)Level 2 – Major tasks for the projectLevel 3 – SubtasksLevel 4 – Activities (work
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