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OM 464 Project Management

OM 464 Project Management. Chapter 2: Organization Strategy and Project Selection. Objectives of Chapter. To understand the primary objectives of PM To understand the strategic management process and how projects are incorporated To understand and calculate project assessment tools.

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OM 464 Project Management

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  1. OM 464 Project Management Chapter 2: Organization Strategy and Project Selection

  2. Objectives of Chapter • To understand the primary objectives of PM • To understand the strategic management process and how projects are incorporated • To understand and calculate project assessment tools

  3. Strategic Process

  4. Lean Healthcare Conference Goals must include 5 necessary SMART attributes: • S • Specific • Measurable • Attainable • Relevant • Time bound M A R T

  5. Solution Assessment Tool

  6. How it Works • Clarify what we mean by “impact” and “do-ability”. • Explain how we will use a matrix to weight suggestion “do-ability”. • Each suggestion has to be evaluated by group for consensus in scoring. • Suggestions should be plotted on the Solution Assessment Matrix. • Challenge these final results by having the group review the plot and concur or disagree with how the suggestions fell on the plot. Spend time discussing any disagreements.

  7. Solution Assessment in Action • Options • A • B • C • C • E • F • G • H • I • J

  8. Solution Assessment in Action 1= poor score. Ex. Score a 1 in the cost column if suggestion would be costly. 4 = good score. Ex. Score a 4 in the risk column if suggestion has no risk.

  9. Solution Assessment in Action

  10. Solution Assessment in Action Based on the plot results, highest priority is given to implementing suggestion #’s 6, 4, & 10.

  11. Other Selection Criteria • Financial: payback, net present value (NPV), internal rate of return (IRR) • Non-financial: projects of strategic importance to the firm. • Sacred Cow - Comparative benefit • Operating Necessary • Competitive Necessity

  12. Any Questions?

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