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Questions and Answers
What is one of the obstacles in project management?
What is one of the obstacles in project management?
Who is responsible for the execution and performance of a project?
Who is responsible for the execution and performance of a project?
What is a key characteristic of a Project Manager?
What is a key characteristic of a Project Manager?
What is a challenge in project management?
What is a challenge in project management?
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What is an essential quality of a Project Manager?
What is an essential quality of a Project Manager?
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What is a key responsibility of a Project Manager?
What is a key responsibility of a Project Manager?
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What is a challenge in project management related to technology?
What is a challenge in project management related to technology?
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What is a key aspect of a Project Manager's role?
What is a key aspect of a Project Manager's role?
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What is a characteristic of a successful Project Manager?
What is a characteristic of a successful Project Manager?
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What is a key obstacle in project management related to coordination?
What is a key obstacle in project management related to coordination?
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Study Notes
Project Management Introduction
- Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
- It enables organizations to execute projects effectively and efficiently.
Types of Projects
- Crash Projects: requires additional costs to gain time, encourages maximum overlapping of phases, and prefers simultaneous work through subcontracting.
- Disaster Projects: undertaken due to unexpected natural calamities, allows anything needed to gain time, and involves round-the-clock work at the construction site.
Definition of Project Management
- Project management is a controlled process of initiating, planning, executing, and closing down a project.
Benefits of Project Management
- Meet business objectives
- Satisfy stakeholder expectations
- Increase predictability
- Increase chances of success
- Deliver products on time
- Resolve problems and issues
- Respond to risks in a timely manner
- Optimize organizational resources
- Identify, recover, or terminate failing projects
- Manage constraints (scope, quality, schedule, costs, resources)
- Balance the influence of constraints on the project
- Manage change effectively
What is a Project?
- A project is a scientifically planned work devised to achieve a specific objective within a certain time frame.
- It involves investment of resources for a specific objective and causes irreversible change.
Characteristics of a Project
- Has a beginning, middle, and end
- Involves capital investment for developing facilities to provide goods and services
- Is a proposal, plan, or blueprint for action-oriented activities of an organization
- Examples include manufacturing, power, refinery, health, educational, social, construction, and information technology projects.
Obstacles in Project Management
- Project complexities
- Execution of customer's special requirements might result in time delay
- Co-ordination with many agencies
- Organization restructuring
- Project risks
- Statutory changes
- Changes in technology needing highly qualified teams
- Forward planning and pricing
Project Manager
- Is a pivot where the entire team performs its activities
- Has overall control of the project and is responsible for its execution and performance
- Is involved in planning, monitoring, directing, and leading participants to reach the project goal
- Should be flexible, adaptable, and have certain qualities such as being a multi-faceted person with diverse interests.
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Description
Learn about crash projects and disaster projects in project management, including their characteristics and requirements.
