Chapters 1-8 (Planning And Goal Setting (• Goal: a desired future…
Planning And Goal Setting
• Goal: a desired future circumstance or condition that the organization attempts to realize.
• A. Stretch goals: reasonable yet highly ambitious goals that are so clear, compelling, and imaginative that they fire up employees and engender excellence
• Plan: a blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions
• A. Single-use plans are developed to achieve a set of goals that are not likely to be repeated in the future.
• B. Standing plans are ongoing plans that provide guidance for tasks or situations that occur repeatedly within the organization.
• C. Contingency plans: define company responses to be taken in the case of emergencies,
• setbacks, or unexpected conditions.
• mission statement: a broadly stated definition of purpose that distinguishes the organization from others of a similar type
• Key performance indicators: assess what is important to the organization and how well the organization is progressing toward attaining its strategic goal
• Management by objectives: a system whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance
• management by means: focuses attention on the methods and processes used to achieve goals
The World of Innovative Management
• Management: the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational re-sources
• Planning: identifying goals for future organizational performance and deciding on the tasks and use of resources needed to attain them.
• Organizing: assigning tasks, grouping tasks into departments, delegating authority, and allocating resources across the organization
• Leading: the use of influence to motivate employees to achieve organizational goals
• Organizational effectiveness: the degree to which the organization achieves a stated goal, or succeeds in accomplishing what it tries to do
• Organizational efficiency: the amount of resources used to achieve an organizational goal.
• Technical Skills: mastery of the methods, techniques, and equipment involved in specific functions such as engineering, manufacturing, or finance
• Human Skills: the manager’s ability to work with and through other people and to work effectively as a group member
• Conceptual skills: the cognitive ability to see the organization as a whole system and the relationships among its parts
The Evolution of Management thinking
Scientific management: emphasizes scientifically determined jobs and management practices as the way to improve efficiency and labor productivity
administrative principles approach: focuses on the total organization instead of focusing on the productivity of the individual worker.
Information technology (IT): the most recent subfield of management science, and it is often reflected in management information systems designed to provide relevant in-formation to managers in a timely and cost-efficient manner
classical perspective: primary focus on the things of production
humanistic perspective: primary focus on the humanity of production
Human Relations Movement: effective control comes from within the individual worker rather than from strict, authoritarian control
human resources perspective: maintains an interest in worker participation and considerate leadership but shifted the emphasis on considering the daily tasks that people perform.
Systems thinking: the ability to see both the distinct elements of a system or situation and the complex and changing interaction among those elements
Synergy: the whole is greater than the sum of its parts
Managerial Decision Making
• Programmed decisions: situations that have occurred often enough to enable decision rules to be developed and applied in the future
• Non programmed decisions: made in response to situations that are unique, are poorly defined and largely unstructured, and have important consequences for the organization.
• Certainty: all the information the decision maker needs is fully available.
• Risk: a decision has clear-cut goals and that good information is available, but the future outcomes associated with each alternative are subject to some chance of loss or failure.
• Uncertainty: means that managers know which goals they wish to achieve, but information about alternatives and future events is incomplete.
• Ambiguity: the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable.
• Decision Making Approaches: the classical model, the administrative model, or the political model.
• Problem: occurs when organizational accomplishment is less than established goals.
• Opportunity: when managers see potential accomplishment that exceeds specified current goals
Introduction to Project Management
• Project: a new, time-bound effort that has a definite beginning and a definite ending with several related and/or interdependent tasks to create a unique product or service.
• Stakeholders: people and groups who can impact the project or might be impacted by either the work or results of the project.
• Project management: the art and science of using knowledge, skills, tools, and techniques efficiently and effectively to meet stakeholder needs and expectations.
• project management process group: Initiating, Planning, executing, Monitoring and controlling and closing
• Product scope: the entirety of what will be present in the actual project deliverables.
• Project scope is the entirety of what will and will not be done to meet the specified requirements.
• Project Executive-Level Roles: Sponsor, customer, leadership team, project management office
• Project schedule: an output of a schedule model instance that presents the time-based information required by the communication plan, including activities with planned dates, durations, mile-stone dates, and resource allocation
• project budget: The sum of work package cost estimates, contingency reserve, and management reserve
Strategy Formulation and Execution
• Strategic management: the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.
• Strategy: the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization’s goals.
• Competitive advantage: what sets the organization apart from others and provides it with a distinctive edge for meeting customer or client needs in the marketplace.
• Corporate-level strategy: the organization as a whole and the combination of business units and product lines that makes up the corporate entity
• Business-level strategy: each business unit or product line. Strategic decisions at this level concern the amount of advertising, direction, and extent of R&D
• Functional-level strategy: the major functional departments within the business unit
• SWOT analysis: a careful assessment of the strengths, weaknesses, opportunities, and threats that affect organizational performance.
• BCG matrix: organizes businesses along two dimensions—business growth rate and market share.
• Plan Scope Management
• Collect Requirements (Gather Stakeholder Input & Needs)
• Define Scope
• Work Breakdown Structure
• Establish Change Control
• Signatures and Commitment
• Lessons Learned
• Team Operating Principles
• Stakeholder List
• Resource Estimates
• Risks, Assumptions, and Constraints
• Milestone Schedule with Acceptance Criteria
• Business Case
• Scope Overview