Marketing Study Guide Essay

1699 words - 7 pages

Chapter 1:

1. Define a project. What are five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization?

A project is a complex, no routine, off-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs

• An established objective

• A defined life span with a beginning and an end

• Involvement of several departments

• Doing something unique

• Time, cost , and performance requirements

• To serve customers needs

2. Compression of the product life cycle, Global competition, Knowledge explosion, corporate ...view middle of the document...

Chapter 4:

1. What are the six elements of a typical scope statement?

The six elements of a typical scope statement are:

a. Project objective

b. Deliverables

c. Milestones

d. Technical Requirements

e. Limits and exclusions

f. Reviews with customers

2. What questions does a project objective answer? What would be an example of a good project objective?

The questions a project objective answers are the what, when, and how much. A good example of this would be to develop a program that automatically translates English to Spanish, finished within 2 years, and not cost more than $15,000.00.

3. What kinds of information are included in a work package?

Overall each work package:

a. Defines work

b. Identifies time to complete a work package

c. Identifies a time-phased budget to complete a work package

d. Identifies resources needed to complete a work package

e. Identifies a single person responsible for units of work

f. Identifies monitoring points for measuring progress

4. When would it be appropriate to create a responsibility matrix rather than a full-blown WBS?

It would be appropriate to use for small projects. Many times, the size and scope of the project do not warrant an elaborate WBS or OBS.

5. How does a communication plan benefit management projects?

The benefit of a communication plan is that it expresses what, who, how, and when information will be transmitted to project stakeholders so schedules, issues, and action items can be tracked.

Chapter 5:

1. Why are accurate estimates critical to effective project management?

Quality estimates are needed because in order to do the job of a project manager and to have a successful outcome, you have to know what you have to work with. Everything that is going to be put into a project, including time and money, needs to be estimated accurately so that the PM can follow the scope of the project and have a happy customer. In order for the planning, scheduling, and controlling to be effective, you have to start out with accurate estimates.

2. How does the culture of an organization infulence the quality of estimates?

The organization culture can greatly affect project estimates. In some organizations, it may be encouraged to high ball estimates so that they have a lot of room to work with, while in other organizations they might low ball estimates to make numbers sound good to clients. Also, in some organizations it is strongly discouraged to feed into estimating gamesmanship.

3. What are the differences between bottom-up and top-down estimating approaches?

Under what conditions would you perfer one over the other?

Top-down estimates usually are derived from someone who uses experience and/or information to determine the project...

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