Lesson 10 - Project Management

Question 1

Projects

Answer 1

Unique one-time operations designed to accomplish a specific set of objectives in a
limited time frame (design products, campaigns, merging two companies,..)

Question 2

Cons

Answer 2

supervisors may not allow workers to interrupt their regular work as temporary workers need to be trained to satisfy their work, lose the output of good workers, resistance of workers
to work for two different bosses with different demands, fear of connection to unsuccessful
project

Question 3

Pro

Answer 3

dynamic environment, some welcome challenge of working under pressure and solving new problems, source of status and new job opportunities, new people, team spirit

Question 4

Project Management

Answer 4

team-based approach for managing projects. Different to general operations man. because limited time frame, narrow focus with specific objectives, less bureaucratic. Metrics: time, cost & performance objectives.
Success factors: top-down commitment, respected and capable project manager, enough time to plan, careful tracking&control, good communication

Question 5

PLS - Initiating

Answer 5

outline exp.costs, benefits & risks, defining goals

Question 6

PLS - Planning

Answer 6

Team chosen, provide details on schedule, budget and milestones

Question 7

PLS - Executing

Answer 7

actual work is carried out

Question 8

PLS - Monitoring & Controlling

Answer 8

same time as execution, compare actual progress with plan/corrective actions

Question 9

PLS - Closing

Answer 9

document lessons learned, obtain customer acceptance, ending project
Projects often bring variety of people together: some use matrix structure: employee works with functional and project manager

Question 10

PERT

Answer 10

program evaluation and review techniques

Question 11

CPM

Answer 11

critical path method (similar
& still potential errors from manager: careful)