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Flashcards in Project Management Deck (4):
1

What is a project?

Is a temporary undertaking intended to produce a unique service, product, or result.

2

What is the definition of operations management?

OM pertains to the ongoing production of goods and services and ensuring that a company's operations function efficiently by using the optimal resources necessary to meet the sales demand of its customers.

3

What is the definition of project management?

Project management consists of 5 major processes carried out by a project manager tasked with balancing the needs and expectations of various stakeholders agains the organization's constraints.

4

What are the 5 major processes carried out by a project manager?

1. Initiating
2. Planning
3. Executing
4. Monitoring and controlling
5. Closing