Objective of Project Management

Front

What is the purpose of any project in project management?

Back

To achieve some specified objective, which may be a product, a service, or another result.

Front

What are examples of project objectives mentioned in the text?

Back

A passenger car with better fuel economy, a new vaccine, a new bus route, and studying traffic patterns for highway expansion.

Front

What does SMART stand for in SMART goals?

Back

Specific, Measurable, Attainable, Relevant, and Time-based.

Front

Why are measurable goals important in project management?

Back

They keep the project team focused on the outcomes.

Front

What is the triple constraint in project management?

Back

The triple constraint refers to the fact that all projects are constrained by cost (budget), schedule (time), and scope (deliverables). A change in one will impact the other two.

Front

List some challenges faced in project management.

Back

Lack of defined project scope, objectives, and charter; lack of strategic alignment; poorly understood customer needs; poor change management; lack of integration; inadequate training; shifting priorities; changes to strategic plans; lack of risk management; unsupportive company culture; poor communication plans.

Front

What are key motivators for adopting project management?

Back

Controlling costs, improving productivity, and achieving business results.

Front

How do organizations view project management in terms of competitive advantage?

Back

Senior management perceives project management as a strategy for gaining an advantage over competitors.