Importance of Projects

Front

What are the two types of activities organizations engage in?

Back

Operations and projects.

Front

What are operations in an organization?

Back

Day-to-day activities that result in a product or service that customers need and will pay for.

Front

What is a project in an organization?

Back

An activity that modifies the business or its products, such as developing a new product or service.

Front

What factors contribute to the increasing complexity of organizations?

Back

Change in workforce demographics, increased use of technology, cross-cultural workforce, global business expansion, demand for complex products, shorter product life cycles, changes in laws, and increased social and environmental awareness.

Front

Why is there an increased need for educated, experienced employees in organizations?

Back

Due to the complexity of operations and projects, and the demand for leadership in these areas.

Front

When did the study of management and project management begin to develop?

Back

In the mid- to late-nineteenth century.

Front

What was the role of managers before the development of professional management?

Back

Companies were managed by their owners, and new managers were trained by old managers.

Front

What historical events highlighted the need for project management tools?

Back

World War I, World War II, and the Manhattan Project.

Front

What is the critical path method (CPM)?

Back

A project management technique invented by the Dupont Corporation in 1957 to chart critical paths and variables.

Front

What is the Program Evaluation and Review Technique (PERT)?

Back

A project management tool invented in 1958 for the U.S. Navy’s Polaris project.