Project Management Mid-Term Study Guide

4780 Words20 Pages
Chapter 2 - Culture – unwritten rules of behavior, or norms that are used to shape and guide behavior, that are shared by some subset of organizational members Escalation of commitment – Occurs when, in spite of evidence identifying a project as failing, no longer necessary, or beset by huge technical or other difficulties, organizations continue to support it past the point an objective viewpoint would suggest that it should be terminated. External environment - consists of all forces or groups outside the organization that have the potential to affect the organization. Some elements in a company’s external environment that can play a significant role in a firm’s activities are competitors, customers in the marketplace, the…show more content…
Construction companies, large manufacturers are designed as pure project organizations. Within the project organization, each project is a self-contained business unit with a dedicated project team. Project stakeholders are All individuals or groups who have an active stake in the project and can potentially impact, either positively or negatively, its development. Project Stakeholder analysis, then consists of formulating strategies to identify and, if necessary, manage for positive results the impact of stakeholders on the project. Project structure - The main function of the project structure is to define standards the team will use during the project. These include communication standards, documentation standards, and change control procedure standards. Program Management takes the lead in defining the project structure. Resources – Skilled human resources (Specific disciplines either individually or in crews or teams), equipment, servicers, supplies, commodities, material, budgets or funds. Stakeholder analysis – A tool for demonstrating some of the seemingly irresolvable conflicts that occur through the planned creation and introduction of any new project. Strategic management – the science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives. Strong matrix – The balance of power is in favor of the project manager. The
Open Document