Project Management: The Managerial Process by Erik Larson, Clifford Gray

By Erik Larson, Clifford Gray

Because the market-leading textbook at the topic, "Project administration: The Managerial technique, 5e" is distinctive by way of its balanced therapy of either the technical and behavioral concerns in undertaking administration in addition to via its assurance of a huge variety of industries to which venture administration rules may be utilized. It makes a speciality of how undertaking administration is fundamental to the association as a complete. The fifth variation displays the most recent alterations present in the perform. different texts talk about the themes coated during this textual content yet they don't view oversight because the venture manager's working setting, as does Larson/Gray. Resumes of managers will quickly be essentially an outline of participation in and contributions to initiatives.

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Extra resources for Project Management: The Managerial Process

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A common rule of thumb in the world of high-tech product development is that a six-month project delay can result in a 33 percent loss in product revenue share. Speed, therefore, becomes a competitive advantage; more and more organizations are relying on cross-functional project teams to get new products and services to the market as quickly as possible. Knowledge Explosion The growth in new knowledge has increased the complexity of projects because projects encompass the latest advances. For example, building a road 30 years ago was a somewhat simple process.

Because so many small projects are going on concurrently and because the perception of the inefficiency impact is small, measuring inefficiency is usually nonexistent. Unfortunately, many small projects soon add up to large sums of money. Many customers and millions of dollars are lost each year on small projects in product and service organizations. Small projects can represent hidden costs not measured in the accounting system. indd Page 13 1/27/10 2:04:09 PM f-500 /Users/f-500/Desktop/28-12-09/MHBR120:ARENS:PRINTER CRX Chapter 1 Modern Project Management 13 Organizations with many small projects going on concurrently face the most difficult project management problems.

Organizational objectives set targets for all levels of the organization. Objectives pinpoint the direction managers believe the organization should move toward. Objectives answer in detail where a firm is headed and when it is going to get there. Typically, objectives for the organization cover markets, products, innovation, productivity, quality, finance, profitability, employees, and consumers. In every case, objectives should be as operational as possible. That is, objectives should include a time frame, be measurable, be an identifiable state, and be realistic.

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