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Mgmt360 Unit 1 Project Management Paper

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Project Management Assignment 1
Shasha Kay McIntosh
20121836
Excelsior Community College
Project Management
MGMT3605
Mr. P. McCarthy
July 15, 2015

Table of Contents
Unit 1 4
Characteristics of a Project 4
Resources Needed for a Project 5
What is project Management? 5
Importance of Project Management 5
Success 6
Why projects succeed 6
Why project Fail 6
Unit 2 7
The Phases of Project Management 7
System Development Life Cycle 8
Criteria Used To Prioritize Projects 9
Net Profit Value 10
Payback Period 10
Return on Investment 10
Characteristics Of A Goal/Objective 11
Define Project scope 11
Choosing the members 11
Importance of the user 12
Common Sources of Risk/Constraints 12
Difference between Risks and Constraint 12
Approaches to risk management …show more content…

Here you need to estimate the duration of a task over a number of days.
• Determine calendar dates for each task and create a master schedule
• Adjust the network dependencies and individual resource assignments as necessary to optimize the schedule.
• Chart the final schedule. (Campbell, 2014)
Zero Based Budgeting Approach
This approach requires managers to justify all of their budgeted expenditures, rather than the more common approach of only requiring justification for incremental changes to the budget or the actual results from the preceding year. (WERAGODA, 2015)
Schedule
Scheduling is setting a timeline within which tasks will be carried out. Scheduling involves converting the tasks in the work breakdown schedule and network diagram into an achievable timetable with start dates, finish dates and assigned responsibilities for each task. (Campbell, Project Management for MIS,

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