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.