BUS Unit 1: Discussion Questions
According to PMBOK (2008), what is a project? What is project management?
A project is “a temporary endeavor undertaken to create a unique product, service, or result” (PMBOK, page 5, 2008).
Project management is “the application of knowledge, skills, tools and techniques to project activities to meet the project requirements. This is accomplished through the appropriate application and integration of the 42 logically grouped project management processes comprising of the 5 Process Groups”
(PMBOK, page 6, 2008).
What is your experience as a project manager? What key skills should a successful project
My experience as a project manager is very little, but my experience working with project managers is approximately 2-3 years. I have studied project management principles for many years, but never took the studies seriously until now. The key skills a project manager should have are (1) open communication, (2) negotiation skills, (3) good planning skills/tools, (4) hands on experience, (5) exceptional leadership abilities, and (6) reliable – “what I say is what I plan to do.”
What factors do you need to consider when you start to prepare a project feasibility report?
Please describe key factors and provide a few examples for each.
The factors to consider in a feasibility study include (Kanda,2008):
Looking at the market for the product/service;
Determining if there is a demand for the product/service;
Considering the financial aspects of the project;
Considering the current economic environment for the project;
Reviewing the technical needs for the project;
Reviewing the socioeconomic and ecological impacts of the projects.
An example would be a project to develop a virtual environment for students to study for tests. Teachers
upload study guides and pre-quizzes and students study and take the pre-quizzes.
A feasibility plan for this project may include:
The market would have to be researched if there are products available or if the services have to be developed using programmers. The demand for the service would have to be determined by meeting with stakeholders/customers to determine if the need is there. The financial aspects of purchasing the product or developing the service would have to be determined and budgeted. The return in value and capital investment within the current economic environment would need to be researched to determine if it is worth the time and money to buy or create. The technical needs for the projects (i.e., servers for hosting, servers for developing, platform choices, programmers) would need to be determined in relation to cost of using the product or cost of hosting/developing the service. Last the impact on a specific socioeconomically group of individuals could be researched to provide this service to low-income schools or to a specific ecological area that does not have the capacity for Internet, computers, or resources for
Sources for Post:
PMBOK (digital edition). 2008. Pennsylvania: Project Management Institute, Inc.
Kanda, Arun. 2008. “Lecture - 4 Project Appraisal: Part 1.” YouTube.com, Posted April 28, 2008.