Question

In: Operations Management

1) discuss how projects are identified. 2) Explain how projects are prioritized and selected. 3) Describe...

1) discuss how projects are identified.

2) Explain how projects are prioritized and selected.

3) Describe the elements of a project charter.

Solutions

Expert Solution

1)

Project is a temporary task undertaken to create a unique product or services. Example - Building bridge. Project management is used to meet the project requirement by application of knowledge, skills, tool and techniques. Project manager is responsible for the completion of the project.

Project identification is done at initiation phase of the project. This is done by: -

  • reviewing the alternatives and approaches that can be used to address problems or opportunities.
  • defining the project objectives and scopes. Project scope determine the project goals, deliverables, tasks, deadlines, costs, etc.
  • creating project charter to authorize the work of the project formally to the project manager by providing him or her the authority to do his or her job. A project can start only after the formulation of project charter.
  • identifying the issues and risks that can be tackled or addressed before the start of the project.

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