Project – A group of multiple
interdependent activities that require people and resources. It
has a definite start and end date and a specific set of criteria
that define successful completion.
Project Management- Planning, control of large time consuming
- The Project manager must schedule and coordinate the various jobs
or activities so that the entire project is completed on time.
Underlying features of Project Management:
- Projects rarely progress the way that they are defined.
- Technical skills of the team vs. The culture of the team
(culture based on commitment and delivering quality)
skills: A diplomat, a ballet dancer, a drill sergeant!
Examples of Projects:
- Development of a tract of real estate
- Installation and debugging of a new computer system
- Launching a new product
- Start up a small entrepreneurial firm
Phases in Project Management
- What is the goal/objective of the project?
- What are the various
activities (or tasks) that constitute the project?
- How are the
activities linked? What are the precedence relationships between
- What is the time required for each activity?
- What are the resources
that are required for each activity?
- When will the entire project be completed?
- What is the schedule
(start and finish time) for each activity?
- What are the critical
activities in the project?
- What are the non-critical activities
in the project?
- By how much can a non-critical activity be delayed
without affecting the completion time of the project?
- At any particular date or time, is the project
on schedule, behind schedule, or ahead of schedule?
- Are there
enough resources available to finish the project on time?
do we identify the problems?
- Guidelines for solving problems
Lifetime Value of a Customer
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