Week Five – Term Paper

This project comes on handy, because will have a model to refer to; when the time comes to put it in to the Microsoft Project 20th sure will be easier. The tool that Pinto Book) the instructor and the many ideas that this class provided as a result of the participation is also another a good structure to referred to, and wish we had more time to explored this Project Management tools , just a little bit more. In conclusion I am very satisfied with the results that and the education that I am taking from this class.

I had always the curiosity to know how these big companies create projects those results on grate advancement for society and the rest of the world. Resources 1. Projects are ad hoc endeavors with a clear life cycle. Projects are nontraditional; they are activities that are initiated as needed, operate for a specified time period over a fairly well understood development cycle, and are then disbanded. They are temporary operations. 2. Projects are building blocks in the design and execution of organizational strategies.

As we will see in later chapters, projects allow organizations to implement company. Vide strategies. They are the principal means by which companies operational corporate-level objectives. In effect, projects are the vehicles for realizing company goals. For example, Intel’s strategy for market penetration with ever ewer, smaller, and faster computer chips is realized through its commitment to a steady stream of research and development projects that allows the company to continually explore the technological boundaries of electrical and computer engineering. 3.

Projects are responsible for the newest and most improved products, services, and organizational processes. Projects are tools for innovation. Because they complement (and often transform) traditional process-oriented activities, many companies rely on projects as vehicles for going beyond conventional activities. Projects are the stepping-stones by which we move forward. 4. Projects provide a philosophy and strategy for the management of change. “Change” is an abstract concept until we establish the means by which we can make real alterations in the things we do and produce.

Sometimes called the “building blocks of strategy,” projects allow organizations to go beyond simple statements of intent and to achieve actual innovation. For example, whether it is Toast’s latest hybrid car or Apple’s newest phone upgrade, successful organizations routinely ask for customer input and feedback to better understand their likes and dislikes. As the vehicle of change, the manner in which a company develops Its projects has much to say about its ability to innovate and commitment to change. 5.

Project management entails crossing functional and organizational boundaries. Projects epitomize internal organizational collaboration by bringing together people from various functions across the company. A project aimed at new product development may require the combined work of engineering, finance, marketing, design, and so forth. Likewise, in the global business environment, many companies have crossed organizational mandarins by forming long-term partnerships with Other firms in order to maximize opportunities while emphasizing efficiency and keeping a lid on Costs.

Projects are among the most common means of promoting collaboration, both across functions and across organizations. 6. The traditional management functions of planning; organizing, motivation, directing, and control apply to project management. Project managers must be technically well versed, proficient at administrative functions, willing and able to assume leadership roles, and, above all, goal oriented: The project anger is the person most responsible for keeping track of the big picture.

The nature of project management responsibilities should never be underestimated precisely because they are both diverse and critical to project success. 7. The principal outcomes of a project are the satisfaction of customer requirements within the constraints of technical, cost, and schedule objectives. Projects are defined by their limitations. They have finite budgets, definite schedules, and carefully stated specifications for completion. For example, a term paper assignment in a college class might include details grading form, length, number of primary and secondary sources to cite, and so forth.

Likewise, in the Disney’s Expedition Everest case example, the executive leading the change process established clear guidelines regarding performance expectations. All these constraints both limit and narrowly define the focus of the project and the options available to the project team. It is the very task of managing successful project development within such specific constraints that makes the field so challenging. 8. Projects are terminated upon successful completion of performance objectives-?or earlier n their life cycle, if results no longer promise an operational or strategic advantage.

As we have seen, projects differ (Pinto 2010 p. 206) Acts of God probability of events beyond the control of the project team occurring. Define-?make sure the project is well defined, including all deliverables, statement of work, and project scope. 2. Focus-?begin to plan the risk management process as a project in its own right, as well as determining the best methods for addressing project risk, given the unique nature of the project being undertaken. 3. Identify-?assess the specific sources of risk at he outset of the project, including the need to fashion appropriate responses.

This step requires that we first search for all sources of risk and their responses and then classify these risks in some manner to prioritize or organize them. 4. Structure-?review and refine the manner in which we have classified risks for the project, determine if there are commonalities across the various risks we have uncovered (suggesting common causes of the risks that can be addressed at a higher level), and create a parameterization scheme for addressing these risks.