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PROJECT MANAGEMENT
Operations Research
 
The Strategic Importance of ProjectManagement
Scheduling large, often one-time projects isa difficult challenge to operations managersand is one of the 10 OM decisions. Thestakes in project management are highMillions of dollars in cost overruns have beenwasted due to poor planning on projects,unnecessary delays have occurred due topoor scheduling, and companies have gonebankrupt due to poor controls.
PROJECT MANAGEMENT
 
The management of large projects involvesthree phases;
1.
Planning. This phase involves goal setting,defining the project, and team organization.
2.
Scheduling. This phase relates people,money, and supplies to specific activitiesand relates activities to each other.
3.
Controlling. Here the firm monitorsresources, costs, quality, and budgets. Italso revises or changes plans and shiftsresources to meet time and cost demands.
PROJECT MANAGEMENT
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