Chapter 3 Rapid Review

Main Heading Review Material Myomlab
The Importance of Project Management (p. 62)

The management of projects involves three phases:

  1. Planning—This phase includes goal setting, defining the project, and team organization.

  2. Scheduling—This phase relates people, money, and supplies to specific activities and relates activities to each other.

  3. Controlling—Here the firm monitors resources, costs, quality, and budgets. It also revises or changes plans and shifts resources to meet time and cost demands.

Concept Questions: 1.1–1.4

VIDEO 3.1 Project Management at Hard Rock’s Rockfest

Project Planning (pp. 6265)

Projects can be defined as a series of related tasks directed toward a major output.

  • Project organization—An ...

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