Project Management
keep you supplied with more of the information you need than formal, rigorous, and stiff team meetings. Finally, avoid the trap ...
chances of receiving negative feedback (likely of greatest value to you) are pretty slim. Customer—It’s always nice to get posit ...
Project Manager’s Checklist for Chapter 3 ❏ As a project manager, you have responsibilities in four broad areas: the project, yo ...
48 4 A fter some brief soul-searching, Brad has determined that he’s mentally prepared to take on his new role as project manag- ...
Defining Your Project 49 gives some information on when the project should be completed and how much it will cost. There are als ...
50 Project Management for getting your project off the ground consists of faithfully fol- lowing four basic steps. Fully unders ...
Defining Your Project 51 include preparing a business case, making formal presentations to management, creating and approving a ...
52 Project Management Identifying the True Need The term “true need” refers to the most basic problem to be solved. Identifying ...
ning and executing the project. It’s often been said that it doesn’t matter how well you manage your project if you aren’t worki ...
four lines we have now.” Then he adds, “When we put these lines in four years ago, we were anticipating an output of about 800 u ...
way to be sure we’ve identified the best solution is to be sure we fully understand and articulate the need. This is the functio ...
Value or benefit associated with achieving desired out- come.This is ordinarily broken down into two major cate- gories: financ ...
Reality Check #1: Stop or Go? Although it is very early in the life of the project, two important questions should be asked: Is ...
this point is preclude the expenditure of additional resources and money on problems that have no reasonable solution. Second, I ...
Selecting the Best Alternative Obviously, you can’t pursue every idea identified through processes like brainstorming. After sol ...
Internal rate of return (IRR). Calculating the IRR answers the question: How rapidly will the money be returned? It’s a calcula ...
as a result of executing your project: e.g., an increase in rev- enue from sales, a reduction in production or operating costs, ...
Step 4: Calculate the Net Cash Flow Using an Agreed-upon Discount Rate. Because the value of a dollar in the future is less than ...
organization’s investment expectations, so your project is likely to be approved (if there’s enough cash to fund it). To calcula ...
attributes that are meaningful to us: cost, comfort, style, han- dling, reliability, and resale. We then weight each attribute b ...
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