Assignment 1 from Chapters 1 and 2

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University of Texas, Arlington *

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Apr 3, 2024

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Name: Deepan Akash DonBosco UTA ID: 1002148522 CHAPTER 1. Review Questions: 1. Define a project. What are five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization? A project constitutes a series of actions and undertakings with the intent to yield a distinctive product, service, or specific outcome. Projects diverge from repetitive, routine daily work in the following aspects: a. Their duration is finite with a clearly delineated beginning and end. b. They possess clearly articulated and delineated objectives. c. They usually necessitate the participation and collaboration of individuals from several fields and domains of expertise. d. They progress through defined phases from initiation to closure, known collectively as the project life cycle. e. They are subject to predefined constraints and requirements regarding the time allotted, funds allocated, and performance standards expected for completion and success. 2. Describe the four phases of the traditional project life cycle. Which phase do you think would be the most difficult one to complete? 1 Defining: This initial phase involves delineating the specifications, objectives, and scope of the project. Additionally, project teams are assembled and key responsibilities are delegated to team members 2 Planning : During this phase, a comprehensive scheme is devised, encompassing timelines, budgets, resource allocation, and risk evaluation. 3 Executing : The actual work commences per the project plan. Deliverables are generated, and progress is tracked in relation to the plan. 4 Closing : The project is brought to completion, which encompasses user acceptance, post- project audits, analysis of the process, reassignment of staff members, and other closing activities. The execution phase poses perhaps the greatest difficulties and challenges. It is during execution that the rubber meets the road, as even the most meticulous planning confronts real-world complexities. Adaptability, discipline, and effective monitoring are vital to pushing through obstacles that arise to achieve project success. Careful plans can require adjustment while retaining focus on the end goals.
3. What kinds of projects is Agile PM best suited for and why? Agile project management is well-suited for uncertain, unpredictable projects where requirements are unclear upfront. Software development is a prime example, as user needs tend to emerge over time rather than being defined early on. Additionally, agile methods work very well in fast-changing industries like technology and marketing that require flexibility. Teams using agile can continuously reprioritize and incorporate new information into the project plan as realities shift. Overall, agile empowers teams to adapt quickly in turbulent environments where rigid plans would prove outdated. Discussion Questions: London Calling: Seattle Seahawks versus Oakland Raiders 1. Why was it important to give players and staff a chance to explore London one evening? The team was in a foreign country and the team was already distracted, curious and as well had other challenge that was jetlag. The importance coaches devote to eliminate distractions that can disrupt team concentration and focus is crucial so they decided to let them explore instead of letting they stay curious so that they can perform well in coming match and focus well. Coach Carroll reportedly said, “There was no avoiding the fact that we were in a foreign country. Players and staff were curious and excited, so we decided instead of denying it we would let them explore London.” 2. What are one or two lessons you learned from this Snapshot The lessons I learned from this snapshot is that: It is important to have fun in intense projects without being in pressure. The importance of managing the rhythm and pace of a group to accomplish project objectives.
Exercises: Individually, identify what you consider to be humanity’s greatest achievements in the last five decades. Now share your list with three to five other students in the class and come up with an expanded list. Review these great achievements in terms of the definition of a project. What does your review suggest about the importance of project management? After the group discussion we came up with achievements which we think are the greatest in past five decades. 1. The greatest and most important achievements of humanity should be development of internet which has to be the steppingstone for booming all the developments which we are seeing in the 21st century. 2. Robotic Surgery: Over the past 15 years, robotically assisted surgeries have become increasingly popular in the U.S. Robotic surgery offers increased surgical precision, visualization and flexibility for surgeons, and shorter recovery time and less pain for patients. 3. Space exploration: Our ongoing exploration of celestial bodies like Mars and the outer reaches of our solar system, as well as significant events like the historic moon landing in 1969, serve as examples of our quest to explore the cosmos and are a testament to our unmatched prowess in the fields of science and technology. These projects act as a light of human creativity, exposing our intense cosmological interest and deepening our understanding of the cosmos. 4. Electric Vehicle: The electric vehicle is equipped with the advanced technologies and capabilities and more environmentally friendly than the traditional internal combustion engine vehicles also electric vehicles are lower maintenance this can be important for attracting investors and building relationships with stakeholders.
CHAPTER 2 Review Questions: 1. Describe the major components of the strategic management process. The strategic planning procedure fundamentally consists of five integral elements: Articulating the overarching mission and purpose of the organization. This core mandate drives all ensuing strategy and actions. Conducting a methodical assessment of the prevailing external landscape and internal capabilities. This situational analysis informs planning. Delineating specific, measurable strategic objectives that align to the mission and environment. These define intended results. Formulating strategies and multi-stage execution plans to achieve defined objectives, given available resources. Detailed roadmaps are crafted. Executing individual strategic plans through operational projects and initiatives. Strategy is implemented tactically through these undertakings that transform vision into reality. 2. How are projects linked to the strategic plan? Projects are linked to the strategic plan through their alignment with specific objectives outlined in the plan. Each project is designed to contribute to the fulfilment of strategic goals and priorities, serving as the operational means to achieve the organization's broader strategic vision. This linkage is established through various key aspects. Firstly, projects are aligned with specific objectives delineated in the strategic plan, ensuring that each project directly contributes to the overarching strategic goals. Secondly, resource allocation is guided by the strategic plan, meaning that budgets, manpower, time, and other resources are allocated based on the prioritization set forth in the strategic blueprint. Additionally, projects are executed within specific timeframes and milestones outlined in the plan, ensuring they progress in sync with strategic timelines. Moreover, projects are evaluated against the risk assessments and uncertainties outlined in the strategic plan, allowing for adaptive management approaches that keep projects aligned with evolving strategic priorities. The performance of projects is also measured against key performance indicators (KPIs) defined in the strategic plan, ensuring they actively contribute to the overall success metrics. Overall, projects serve as the operational manifestation of the strategic plan, ensuring that the organization not only sets a strategic direction but actively works towards its realization.
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