...Overview Everybody has learned how to accept risk since childhood days. Our parents have taught us not to touch hot pot or drink hot drink but when we do, we felt the pain and never repeat the same mistake. This is a simple process of accepting the risks and changes in our daily activities. As we grow, we have articulated the process and apply risk management principles of accepting the risk if the benefit outweighs the cost, making risk decisions at right levels, and not to accept unnecessary risks. These principles were adopted by the Department of the Navy in their operational risk management program in mishap reduction and prevention (Navy Safety Center, n.d.). Risk Management One key document that a program manager needs to prepare is the risk management plan. Risk management may be simply defined as the process of managing the risk to an acceptable level consistent with the project’s goal. The first step in the process is the identification of risk wherein the project manager evaluates the cause and effects of the risks associated to the project. Once the risks are identified, the project manager will need to assess the risks in relation to its probability and severity. This process will assist in the decision making in accepting the risk or responding to risks and what actions are needed to bring the risk to acceptable and manageable level. Accepting and avoiding is the most cost effective method in risk management. Mitigating and transferring normally will...
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...Final Parking Garage Project MGT 437 Final Parking Garage Project Team A will be conducting a project breakdown for the parking structure that will be built in the busy city of Downtown Los Angeles. As a team all aspects of the project have been analysis and carefully assessed to make sure that building this parking structure will be built to expectation. There will be a breakdown for how long this project will take to complete and all the steps that will be completed within the timeframes that are given. In this project breakdown we have also included a breakdown of the budget and how the money will be spent and how as a team we will be selecting all employees that will be working to help us complete this project. As Vine Lombardi once stated “Individual commitment to a group effort- that is what makes team work, a company work, a society work, a civilization work.” With the proper workforce and planning this project will accomplish its expected main goal and give all the effort to assure that the project will be above and beyond expectation Background and Statement of Need A downtown, professional building, owned by a real estate firm, houses several offices for lawyers, a dermatologist, and other private businesses. However, congestion in the downtown area is becoming a problem. A parking lot exists next to the professional building and is owned by the same real estate firm, but the parking lot occupied quickly and its size is not adequate for the amount of individuals...
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...In the file MGT 437 Week 4 Discussion Questions 2 you can find right answers of the following task: "Based on your readings and the discussions this week, please share with the class: what specific concept/topic/idea you would teach someone about what you learned in the course this week?" Business - Management Week One: Project Definition Details Due Points Objectives 1.1 Determine the importance of project management in the current business environment. 1.2 Determine the goals and purpose of a project in terms of the triple constraints. 1.3 Determine the stakeholders of the project. 1.4 Develop project scope. 1.5 Analyze the relationships among organizational culture, project structure, and project resources. Readings Read Ch. 1, 11, 16 of Project Management: A Systems Approach to Planning, Scheduling, and Controlling . Read Ch. 2 of Project Management: A Managerial Approach. Read the Week One Read Me First. Read this week’s Electronic Reserve Readings. Participation Participate in class discussion. All Week 1 Discussion Questions Respond to weekly discussion questions. DQ – 1 DQ – 2 DQ – 3 Day 2 Day 4 Day 6 3 Individual Project Management Paper Write a 1,050- to 1,400-word...
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...PROFESSIONAL DEVELOPMENT |3 |07/31/2001 | |08/28/2001 | |TIMOTHY COLLINS |A- | | |MGT/330 | |MANAGEMENT: THEORY,PRACTICE, APPLICATION |3 |09/04/2001 | |10/02/2001 | |LEE HOFFMAN |A | | |MGT/331 | |ORGANIZATIONAL BEHAVIOR |3 |10/09/2001 | |11/06/2001 | |NORMAN ANDROSS, II |A | | |MGT/436 | |CRITICAL THINKING AND DECISION-MAKING |3 |02/12/2002 | |03/12/2002 | |ROBERT STRETCH |A- | | |MKT/421 | |MARKETING |3 |05/28/2002 | |06/25/2002 | |BARBARA CHRONOWSKI |A- | | |FIN/324 | |FINANCIAL ANALYSIS FOR MANAGERS I |3 |07/02/2002 | |07/30/2002 | |JOHN BUSHBY |B+ | | |FIN/325 | |FINANCIAL ANALYSIS FOR MANAGERS II |3 |08/06/2002 | |09/03/2002 | |STEVEN HARRIS |A | | |QNT/321 | |STATISTICS IN BUSINESS I |3 |09/12/2002 | |10/10/2002 | |DONALD STELL |B+ | | |QNT/322 | |STATISTICS IN BUSINESS II |3 |10/17/2002 | |11/14/2002 | |DONALD STELL |A- | | |ECO/360 | |ECONOMICS FOR BUSINESS I |3 |04/15/2004 | |05/13/2004 | |GEORGE SHARGHI |B+ | | |MKT/438 | |PUBLIC RELATIONS |3 |05/20/2004 | |06/17/2004 | |BARBARA CHRONOWSKI |A | | |CIS/319 | |COMPUTERS AND INFORMATION PROCESSING |3 |07/14/2004 | |08/11/2004 | |KENNETH POORMAN |A | | |MGT/431 | |HUMAN RESOURCES MANAGEMENT |3 |08/31/2004 | |09/28/2004 | |MICHAEL REILLY |A | | |MGT/448 | |GLOBAL BUSINESS STRATEGIES |3 |01/11/2005 | |02/08/2005 | |JAMES LANE |A | | |MGT/449 | |QUALITY MANAGEMENT AND PRODUCTIVITY |3 |02/15/2005 | |03/15/2005 | |PAUL HENNESSY |A | | |MGT/434 | |EMPLOYMENT LAW |3 |03/31/2005 | |04/28/2005 | |RICHARD RADOSH |A- | | ...
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...University of Phoenix Course: MGT/437 Project management is defined by BusinessDictionary.com as, “Approach to management of work within the constraints of time, cost, and performance requirements.” Project management requires careful planning and studying all of the factors involved with in the project. Project Managers must first establish the needs of the stakeholders and provide a project plan which includes the cost and time frame the project will be completed. In addition, projects requirements should be clear and concise to ensure the Project Manager stays within the limits of the project. For example, in Week Two simulation the Huduma Foundation needed to transport eight elephants across African to a safe habitat. Huduma Foundation is a non-government organization dedicated in the rescue and relocation of wild animals in Africa. In this paper we will see how this simulation changed my perspective on project management? We will also discuss the advantages and limitations of project management are identified in the simulation. Also how we will anticipate bottlenecks when planning for a project? Also when and if the need to crunch the project will ever arise, which factor would you compromise on, risk or time? The very first step when it comes to project planning is to create a work breakdown to cover all the basics of the project. This will make it easier for everyone to work in their specific area of expertise. In order for this project to be successful it is the...
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...Project management performance measurements Karen Mahich MGT/437 May 24, 2011 Mr. Pacheco Project management performance measurements Performance measures help organizations in the decision making process of future improvements by helping the organization understand what practices have been successful in the past and which have been failures. They are quantitative or qualitative ways to define performance and provide a tool for the organization to manage and define key indicators of organizational performance and customer satisfaction. Performance measures should identify the population measured, method, data source and time period, each measure should also be: • Easy to understand • Objective • Timely • Cost-effective • Controllable by minimizing outside influences • Accurate Speed Speed is different than time it represents the pace at which the final product functions and time measures the overall project schedule. It is important to understand that time would refer to the overall schedule, and speed would measure the performance level of the final product. Accuracy This is an important measure of performance, because it represents how well the system that the project put together actually functions. A project team could construct a product on time and on budget that is highly faulty regardless of the fact that the project was successful within two of the constraints, if it is not accurate, it fails to...
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...information technologyn: Business and Management Project Management Paper University of Phoenix MGT/437: Project Management Project Management Paper November 4, 2012 Project Management Paper Introduction Many would say that the United States is a great place to live. This country gives people choices and many crave the independence of owning their own business. However, owning a business is not as easy as it sounds, it takes hard work and strategic planning. To manage a business you have to have a sound direction in what expertise you would like to tackle. Project management can play an integral role in implementing these plans and attaining these goals. This system is “one of the integral parts of the contemporary management system due to its ability to make sure that the goals set in the beginning of a project correspond exactly to the goals that were achieved later on. It goes without saying that the primarily aim of any project is a certain definite result. Since a project can be applied to various spheres of activity of a company, it automatically gets a wide range of usage (Reynolds, 2009).” The primary purpose of this document is to achieve an enhanced perceptive of project management and to provide information on key elements that is the core of most officially run projects. This document will answer three general questions necessary in the construction of project management. These questions are: What is project management? What are the basic phases...
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...Team Creation Carla L. Bradshaw MGT/437 March 17, 2014 Pri Barman The creativity and outcome of any project weighs heavily on the team that is chosen to work on the project. That is why it is important to select team members who fit well with the goals of your project. Team members should have a range of knowledge regarding the project they are going to be working on. It is important to choose team members that have experience in various areas and beyond in the area in which your project falls. Since there can be many steps in getting a project completed, you will have to possibly choose one or more people for eeach step in order to ensure it is completed effectively and efficiently. Overall you want team member who are able to make a great contribution. Team members should be reliable, flexible, and trustworthy. They should also be able to adapt and get along with other members of the team as well as be able to follow the rules defined for the scope of the project. Once you have chosen an appropriate team, you will then need to develop team building strategies. Arnold Bateman offers the following definition for team building: Team building is an effort in which a team studies its own process of working together and acts to create a climate that encourages and values the contributions of team members. Their energies are directed toward problem solving, task effectiveness, and maximizing the use of all members' resources to achieve...
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...Project Proposal – Huggies Complete Morris Jackson, University of Phoenix MGT/437 – Project Management July 27, 2011 Dr. John Peters Project Scope The new product line Huggie’s Complete will be accomplished by the use of an effective total program planning process. During our project scope initiation we will first leverage The Statement of Work (SOW), “which is a narrative description of the work to be accomplished.” (Kerzner, 2006). The work that the company is looking to carry out with the new product line Huggie’s Complete, is to start the test pilot production at the beginning of fall 2011. This will give the company three months to analyze the product before we schedule a mass production and allow us to identify any additional needs that may be warranted to help promote or enhance the product. The cost to run this pilot will be $100,000 for materials, labor, and market studies. During the test pilot we must place ourselves in different environments to test our product such as pouch functionality, different weather scenarios, different venues where the product may be used, and different time’s scenarios from pack time to time open to determine shelf life. During the test pilot of weather scenario’s we will need to use this product in different heat conditions such as dry heat and humidity to see what damage it may have on the product. We will also need to test cold weather to determine the keep temperature of the product and situations such as rain, snow...
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...Achieving Project Goals Simulation Katherine Sims MGT/437 October 30, 2011 JO-YU ( ROY) CHUANG Achieving Project Goals Simulation In completion of the simulation one realize how project management is very helpful in everyday life and also changed one’s point of view on project management. Project management uses a method which consists of organization and management of resources so that the project results fall within the time, scope, value, and cost as set forth and established upon with the team. From the very beginning of the simulation with the story ``The Six Blind Men and the Elephant ' the story was intriguing. The story line was an attention-grabber to see how each of the men described an elephant , which they have presumably never seen , based upon just a piece of it and compared it to something from their past . They could have never realized how large the elephant was as a whole, especially when they were basing their statements on such small components. The story concisely covered the old adage ``the whole is greater than the sum of its parts ' That is precisely what project management is the ability to look at an assignment like pieces of a puzzle and interlock them as smoothly as possible . These kinds of projects are usually a one-time undertaking intended to produce an outcome that is generally unique to the organizations inevitably generating change and value for the entire company. The method used to project...
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...Team Creation Paper MGT/437 Jeremy Wood September 2, 2013 Yaminah Munns Team Creation Paper A team creation involves understanding the task-at-hand and gathering individuals that will have the skills needed to succeed. At times, a team could be developed when rearranging furniture in an office or developing new software for a company. Teams are critical in today’s business markets because of the work load on each employee. Therefore, a team is created to minimize the work load and engage the team’s brain storming techniques. Teams are developed for temporary use in order to complete a project. For example, a team manager will evaluate the project, study the task and establish a group of skillful individuals. Each member of the team will be designated to operate a particular task. As a result, the task will be completed by each member’s professional skill. However, a team can have its negatives as well. For instance, not every member will agree on the way the operation is completed. So, in order for a team to work successfully every member must agree and participate in the task-at-hand. How project team members are selected. A project manager would first decide what parts of the project would need to be recognized the most. Then second the manager would gather a pool of potential candidates to interview. The tasks will be broken down into specialty categories, like: technology, finance, sales, service and logistics. Each interview would be designated towards filling...
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...Team Creation Paper MGT/437 February 16, 2012 Jeffrey Grogan Team Creation Paper A team creation involves understanding the task-at-hand and gathering individuals that will have the skills needed to succeed. At times, a team could be developed when rearranging furniture in a office or developing a new software for a company. Teams are critical in today’s business markets because of the work load on each employee. Therefore, a team is created to minimize the work load and engage the team’s brain storming techniques. Teams are developed for temporary use in order to complete a project. For example, a team manager will evaluate the project, study the task and establish a group of skillful individuals. Each member of the team will be designated to operate a particular task. As a result, the task will be completed by each member’s professional skill. However, a team can have its negatives as well. For instance, not every member will agree on the way the operation is completed. So, in order for a team to work successfully every member must agree and participate in the task-at-hand. How project team members are selected. A project manager would first decide what parts of the project would need to be recognized the most. Then second the manager would gather a pool of potential candidates to interview. The tasks will be broken down into specialty categories, like: technology, finance, sales, service and logistics. Each interview would be designated towards...
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...Achieving Project Goals Simulation Maria Algarin University of Phoenix MGT 437 Project Management Simulation It is important for project managers to not only make the best project plans, but to be also suitably prepared to tackle contingencies and minimize their impact on the project (Achieving Project Goals Simulation, 20011). In my opinion, there is a misconception as to the role of a project manager. The main challenge is to ultimately achieve the defined goals for the project. Another challenge is maximize the integration of inputs to meet the objectives. Realistically it is important to understand all the processed that relate to the project. Once these items are identified the actual management of the project becomes apparent. My perspective of project management was limited to the construction industry. The simulation changed my perception because I realized that project management is even required in the most unconventional situations. For example, the simulation consisted of preparing a plan to move eight elephants to centralized location. The assignment called for proper planning and logistics to ensure that the cargo arrived safely. Throughout the trip there were unforeseen circumstances and in some cases the animals were at risks. My overall perception is that the project manager is very important. A successful Project Manager must simultaneously manage the four basic elements of a project: resources, time, money, and most importantly, scope (Reh, 2009)...
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...Performance Measurement Penny Myers MGT 437 April 18, 2011 Performance Measurement Successful companies invest time, money, and resources in projects with the goal of earning a return on investment. The project manager ensures projects stay on schedule and within budget and performance management gives the project manager visibility to ensure they are operating within the agreed upon time and cost constraints and that the project is performing according to plan. Performance measurement is important because it is the process an organization uses to establish parameters to reach desired results (Schied, 2010). Measuring project performance allows the project manager to identify cost and schedule problems and take action to remedy problems quickly. Measuring project performance also provides the organization with a picture of how healthy the project is and can help establish improvement initiatives. When managing a project, triple constraints of budget, time, and performance are important measures. The budget is managed by controlling resources according to the financial plan of the project. Time keeps the team on schedule and allows meeting of deadlines. Performance measurements should be created by project and be based on the scope, goals, and objectives of the stakeholders (Schied, 2010). Measurements are specific to each project but three measurements that could be used to measure performance include speed, accuracy, and volume. Speed shows...
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...Project Management Lisa Andres University of Phoenix MGT/437 Project Management David Van Gorder Thursday, October 21, 2010 Project Management Project management is an important tool used in every aspect of business. In this summary, the definition of project as well as project management is explained. Modern techniques and planning on the project manager’s part are described and the monitoring of the project. The project manager is the key to successful project planning, they determine what needs to be done, by whom and when. The “when” involves the projects lifecycle, their basic phases and purposes are discussed in this paper. The importance of using project management to accomplish task is because it utilizes the systems approach to management by having functional people to do a specific project. Successful project management is both a skill and a science; it attempts to run corporate resources within the limitations of time, cost, and performance. According to Kerzner (2006), a project has characteristic attributes that makes it different from everyday work or business operations. Projects are temporary. They are not an everyday business procedure and have start date and end date. The start and end date is the important characteristic of the project because effort is committed to make certain that the project is completed at the chosen time (Kerzner, 2006, pp. 2-8 & 12-17). According to Kerzner (2006), “there is first an initiation, in...
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