Case Study Management : Project Management

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Chapter 1: Project Management Overview Popularity of PM Interest in Project Management is ever increasing. The recent upswing is related to the brave new world that we live in. The world is changing at an increasing rate. New industries seem to appear almost overnight – social media is changing everything. Combine all of that with the economic swings, projects cannot be managed like we did in the past. Regardless of major or area of study, all disciplines work on projects and thus the individuals in those areas of study should understand and be able to apply the concepts. Studying accounting and finance? The following is from an article by Ed Kless in the April 1, 2010 Journal of Accountancy. “Project management is a client-focused process that significantly increases the probability of providing the desired results to the client. It can help an accounting firm plan its resources more effectively and ensure that work is delivered to clients in a timely manner. The project management methodology enables an accounting firm to manage its engagements prospectively, not retrospectively, such as through time sheets. When properly implemented, project management can provide your firm with a competitive differentiation by defining the success of your firm the same way your clients do—through results. This article explains the important tools and objectives underlying project management.” To view the article: http://www.journalofaccountancy.com/issues/2010/apr/20092306.html#sthash.nxkuIu1m.dpuf. If you are a supply chain major, consider the following article from supplychain-mechanic.com. The link to this article is http://supplychain-mechanic.com/?p=275 “Project management principles are essential in order to successfully manage ... ... middle of paper ... ... the example of writing a term paper. Before actually writing the term paper, most would have completed some up-front planning. What is the topic and what are the requirements from the professor? What resources will I need to complete the task (computer, paper, money to purchase a folder to make it look professional)? How much time do I estimate it will take me to obtain the resources necessary meet the professors’ requirements? The topic and the requirements from the professor can be considered a first attempt at defining the SCOPE of the project. You have defined the RESOURCES as well as estimated the TIME it will take me to complete the project. These are the Triple Constraints… each and every project is subject to constraints. The Triple Constraints (also known as the Iron Triangle) must be in balance, otherwise quality and other facets of the project suffer.

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