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Modern Project Management: The Key to Successful Endeavors

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  1. Chapter 1 Modern Project Management

  2. Modern Project Management All of mankind’s greatest accomplishments – from building the great pyramids to discovering a cure for polio to putting a man on the moon – began as a project.

  3. What do the following headlines have in common? • Superbowl half-time show scores a touchdown • Apple’s new Ipad mini to hit the market • City receives stimulus finds to expand light rail system • MN Approves new stadium

  4. What is a project? • A project is a temporary endeavor undertaken to create a unique product, service, or result • The major goal of a business project is to satisfy the customer’s need.

  5. Characteristics of a project • An established objective • A defined life span with a beginning and an end • Usually, involvement with several departments • Typically, doing something that has never been done before • Specific time, cost, and performance requirements

  6. The Project Life Cycle

  7. Importance of Project Management • Compression of the Product Life Cycle • 30 years ago, products would last 10-15 years • Now, most last 1-3 years.

  8. Business Thrive on New Project Development • What companies can you think about depend on new product innovation? • What other companies rely on new projects? • New Stadiums? • Electric Cars? • Renewable Energy? • Movie Franchises? How important was the 2nd Hunger Games?

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