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19 Cards in this Set
- Front
- Back
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Iron Triangle Assets-Liabilities Revenues-Expenses |
Budget, Time Limitations, Scope Equity, Accounting Eqn Profit, Operating Eqn |
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Characteristics of a Project |
1. goal oriented 2. complex/numerous activities 3. communication across boundaries 4. multiple functional areas 5. people involved/priorities 6. unique series of events 7. time defined/limited 8. stakeholders/risks/uncertainties 9. Budget/resource limited |
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Phase 1 (Define) Steps |
1. Develop goals, define objectives using SMART: specific, measurable, assignable, realistic, time based 2. State need/opportunity through project statement 3. Identify assumptions and risks 4. Identify stakeholders 5. Define success criteria 6. Create project overview/charter |
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Importance of identifying risks? |
1. generates thought process about issues 2. improves resource allotment 3. identifies potential delays 4. provides basis for informed decision |
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Concepts of project charter |
1. Early statement of goal/direction 2. Recognize challenges and opportunities project will address 3. Include specs, budget, time constraints 4. Use simple language |
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Phase II (Plan) Steps |
1. Create WBS (consider stakeholders/risks) 2. Identify project network and critical path 3. Identify tasks/allocate resources 4. Determine task duration, schedule and budget 5. Create a project proposal |
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Project Proposal Concepts |
-transition from planning to implementation -requests approval to proceed -key document of project -a statement of need, approach being taken and expected benefits -description of tasks, timelines and resources required -provides documentation for control -can be used as briefing document |
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Phase 3 (Organize/Execute) |
1. Select project manager 2. Organize then recruit team 3. Create teamwork charter 4. Define and assign tasks/work packages 5. Act |
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Work packages are: |
1. Discrete 2. Budgeted 3. Time dependent |
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Phase 4 (Control) |
Each task can be controlled: -Establish control tools -prepare status reports -review project schedule -issue change orders |
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Phase V. Close |
-Obtain client acceptance! -Document project, submit final report -settle contracts/finances |
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Final report: |
-"institutional memory of project" -important to client -what was goal, what was achieved, future considerations |
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Motivation for engineers |
-challenge/achievement -recognition by peers -advancement and autonomy -variety and professional growth -greater responsibility and decision making power |
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Entrepreneurship requires: |
-Person -Opportunity -Resources |
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Characteristics of entrepreneur |
commitment, determination, perseverance, responsibility, integrity, reliability, tolerance for risk, self-confidence, optimism, resourcefulness, leadership, creativity, energy |
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Characteristics of engineer |
implementer, producer, builder, systematizer, manager of proven methods, realist, decision maker, problem solver, innovator |
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Types of Opportunity |
adaptive, transformative, disruptive |
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When you have an idea, consider (from opportunity perspective): |
-value added -competitive advantage -viability -exit costs |
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Resources |
-sweat equity -skin in the game -small scale start -spec, limited $, span of time |
