Flashcards
Project Management Diskussion 1
Cards in this deck (6)
- 1What are the advantages and disadvantages to using project management? 3 Advantages:•Innovative, produce new ideas and new products
•Geared toward accomplishing a specific goal
•Aimed at customer satisfaction - 23 Disadvantages:•Inaccurate cost estimates during initial stages may cause project to fail
due to lack of resources
•Low success rate in some industries
•Requires heavy commitment by staff - 3What are the key characteristics all projects possess?operations with a defined lifespan
develop and execute organizational strategies and goals
limited by resource and time constraints - 4Describe the basic elements of the project life cycle. Why is an understanding of the life cycle relevant for our understanding of projects?concept
planning
execution
termination - 5Life cycles:Life cycles provide a guiding point for determining the scope and
resource requirements of specific projects. By outlining a project’s
life cycle, many challenges and potential pitfalls can be pinpointed.
More generally, an understanding of life cycles lends itself to a better
understanding of how projects function within an organization and
how they differ from conventional forms of corporate process. - 6—