UT Knoxville BUAD 341 - Final Exam Study Guide (7 pages)

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Final Exam Study Guide

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Final Exam Study Guide


This reviews all the material that will be on the final exam.

Study Guide
University of Tennessee
Buad 341 - CBM II: Lean Operations

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BA 341 Final Edition Final Exam Study Guide Lectures 19 23 Lecture 19 November 10 Projects A project is a temporary endeavor undertaken to create a unique product or service Characteristics of a Project o Purpose a one time activity with well defined desired end results o Temporary has a definite beginning and a definite end hence a finite duration o 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 o 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 How are projects organized As part of the functional organization Matrix organization Pure Project o Uniqueness every project has elements that make it unique e g an office building has different owners design location contractors etc o Conflict projects vs functional dept and project vs project with respect to resources and personnel Examples of Projects o Honda introduces Insight o Apple launches iOS 6 o Construction of Haslam Business Building o Columbia Pictures produces The Amazing Spider Man o Pfizer launches Sudafed Project Manager Responsibilities major challenges skills of good PMs Responsible to o The parent organization o The client o The project team Major challenges o Selecting and motivating the personnel o Dealing with obstacles o Making project goal trade offs o Communicating with all parties o Dealing with project risks and potential failure What is takes to be a good project manager o Strong technical and managerial background Credibility o Excellent communication skills o Excellent organizational planning goal setting skills o Negotiator and team builder o Sensitive to political issues o Ability to handle pressure Project Scheduling Common inputs to Project Scheduling o List of project tasks subtasks work packages and activities o Logical sequence of activities

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