Project Management: The project management denotes application of skills, knowledge as well as techniques for project activities for meeting project requirements. The project manager attempts to deliver a solution that meets specific cost, scope, time as well as quality goals. They manage project stakeholder expectations. The project managers must coordinate nine areas of expertise that includes: Scope Time Cost Quality Human resources Risk Communications Integration Procurement. The “forming-storming-norming-performing-adjourning” model describes how teams form, evolve, and dissolve. Each project must contain a project steering team that contains senior managers representing IS organizations and business. It provides guidance and support to project. The key members of steering team are project sponsor, project champion and IS manager. Three types of contracts: The three types of contracts used in procurement of goods as well as services are shown below: Fixed price contract: It denotes a contract in which buyer and provider agrees upon a total fixed price. It denotes for a well-defined service or product. Cost reimbursable contract: It is a contract that requires buyer to pay provider an amount that covers actual costs plus profit percentage of provider. Time and material contract: It denotes a contract that required buyer to pay provider for both time as well as materials. These entities required for completion of contract.

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Chapter 11, Problem 13DQ

Program Plan Intro

Project Management:

The project management denotes application of skills, knowledge as well as techniques for project activities for meeting project requirements.

The project manager attempts to deliver a solution that meets specific cost, scope, time as well as quality goals.

They manage project stakeholder expectations.

The project managers must coordinate nine areas of expertise that includes:

Scope

Time

Cost

Quality

Human resources

Risk

Communications

Integration

Procurement.

The “forming-storming-norming-performing-adjourning” model describes how teams form, evolve, and dissolve.

Each project must contain a project steering team that contains senior managers representing IS organizations and business.

It provides guidance and support to project.

The key members of steering team are project sponsor, project champion and IS manager.

Three types of contracts:

The three types of contracts used in procurement of goods as well as services are shown below:

Fixed price contract:

It denotes a contract in which buyer and provider agrees upon a total fixed price.

It denotes for a well-defined service or product.

Cost reimbursable contract:

It is a contract that requires buyer to pay provider an amount that covers actual costs plus profit percentage of provider.

Time and material contract:

It denotes a contract that required buyer to pay provider for both time as well as materials.

These entities required for completion of contract.

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