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Wilfrid Laurier University MB 381MB-381 _ MIDTERM STUDY NOTES

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Chapters 1 & 2 ➔ Project: A temporary endeavor undertaken to create a unique product, service, or result. ◆ Has an established objective. ◆ Has defined life span with a beginning and an end. ... ◆ Involves several departments and professionals. ◆ Involves doing something never done before. ◆ Has specific time, cost, and performance requirements. ➔ Program Defined: A group of related projects designed to accomplish a common goal over an extended period of time. ➔ Program Management Defined: A process of managing a group of ongoing, interdependent, related projects in a coordinated way to achieve strategic objectives. ● Project: completion of a required course in project management ● Program: completion of all courses required for a business major Project life CycleTasks of a Project Manager (Challenges): ➔ Manages temporary, non-repetitive activities as well as individuals within the project, and frequently acts independently of the formal organization. ➔ Manages and allocates resources for the project. ➔ Is the direct link to the customer. ➔ Provides direction, coordination, and integration to the project team. ➔ Is responsible for performance and success of the project. Agile Project Management (Agile PM): project management that focuses on active collaboration between the project and customer representatives, breaking projects into small functional pieces, and adapting to changing requirements. This type of PM employs an incremental, iterative process sometimes referred to as a ‘rolling wave’ approach to complete projects. ➔ Emerged out of frustration with using traditional project management processes to develop software. ➔ Works best in small teams of four to eight members. ➔ Is often used up front in the defining phase to establish specifications and requirements, and then traditional methods are used to plan, execute, and close the project. Rolling Wave Development: A strategic type of development that focuses on short-term goals, developing interactions at every step to make tangible progress such as define: a key requirement, solve a technical problem, or create desired features to demonstrate to the customer. Each new iteration subsumes the work of the previous iterations until the project is completed and the customer is satisfied. (Time for interaction is usually 1 to 4 weeks) [Show More]

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