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    AADARSH PRAJAPATI
    A matrix organization structure allows teams to report to multiple leaders to encourage open communication between teams and help companies create more innovative products and services. This prevents teams from needing to realign every time a new project begins. Project managers have complete authority over resources and all team members report to them in a projectized organization, unlike a functional structure where employees are grouped by specialty. Projectized organizations are dynamic and must compete for contracts by providing competitive bids.

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    Spmnotes

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    A matrix organization structure allows teams to report to multiple leaders to encourage open communication between teams and help companies create more innovative products and services. This prevents teams from needing to realign every time a new project begins. Project managers have complete authority over resources and all team members report to them in a projectized organization, unlike a functional structure where employees are grouped by specialty. Projectized organizations are dynamic and must compete for contracts by providing competitive bids.

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    A matrix organization structure allows teams to report to multiple leaders to encourage open communication between teams and help companies create more innovative products and services. This prevents teams from needing to realign every time a new project begins. Project managers have complete authority over resources and all team members report to them in a projectized organization, unlike a functional structure where employees are grouped by specialty. Projectized organizations are dynamic and must compete for contracts by providing competitive bids.

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    Download as docx, pdf, or txt
    31 views3 pages

    Spmnotes

    Uploaded by

    AADARSH PRAJAPATI
    A matrix organization structure allows teams to report to multiple leaders to encourage open communication between teams and help companies create more innovative products and services. This prevents teams from needing to realign every time a new project begins. Project managers have complete authority over resources and all team members report to them in a projectized organization, unlike a functional structure where employees are grouped by specialty. Projectized organizations are dynamic and must compete for contracts by providing competitive bids.

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    You are on page 1of 3

    A matrix organization is a company structure where teams report to multiple leaders.

    The
    matrix design keeps open communication between teams and can help companies create
    more innovative products and services. Using this structure prevents teams from needing to
    realign every time a new project begins.

    A functional organizational structure is a common type of


    business structure that organizes a company into different
    departments based on areas of expertise, grouping employees
    by specialty, skill or related roles.
    Here, organizations encourage employees to share their lessons learned. At
    the same time, they allow others to learn and benefit from a shared corporate
    knowledge base.

    Project managers are in charge, and they have complete authority over
    resources. All team members report to them.

    Projectized organizations have no functional manager; if they do, their role will
    be minimal. Moreover, they won’t have any authority. The projectized structure
    is the opposite of the functional structure.

    In projectized organizations, resources are utilized for the project work. These
    organizations are only interested in external project work. Usually, they have a
    few small, functional departments that support activities. Examples include
    admin, accounting, human resources, etc.

    A projectized organization has to be dynamic for its survival. They always have
    to compete with other organizations to win bids. They will lose the contract if
    their quote is high or technically inferior.

    Project Life Cycle is the entire cycle that enraptures a project. It means the different
    phases that take place within a project. There are typically five different processes
    that take place in a project, namely:

     Initiation

     Planning

     Executing

     Monitoring and Control

     Closing
    Project Life Cycle Vs Product Life Cycle
    By Chandana
    Last updated on Dec 21, 202013056

    Table of Contents
    Project Life Cycle
    Product Life Cycle
    Two major concepts in project management are Project Life Cycle and Product Life
    Cycle. These two concepts are must study for professionals looking forward towards
    attaining a Introduction to CAPM program.  Let’s have a look at the same in this post.

    Project Life Cycle

    Project Life Cycle is the entire cycle that enraptures a project. It means the different
    phases that take place within a project. There are typically five different processes
    that take place in a project, namely:

     Initiation

     Planning

     Executing

     Monitoring and Control

     Closing

    Initiation, planning, executing, monitoring, and controlling, and closing is also the five
    basic processes of project management. Every project has these five phases in
    existence. Initiation, planning, executing, and closing takes place once throughout
    the process; however, monitoring and control need to be done even after closing of
    the project towards smooth and fluent project delivery. Also, monitoring and control
    is a part of every process at different levels.
    Product Life Cycle

    Product Life Cycle defines the different stages that enrapture the growth of a
    product. A product typically goes through the below-mentioned stages.

     Market Introduction

     Market Growth

     Market Maturity

     Decline and Saturation Stage

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