9/3/2008

Project Management

Project Management
PM is the wave of the future Tools used to plan, implement, manage A results-oriented management style Originated in construction, DoD, Hollywood, consulting Profound impact on IT Emergency aid to natural disaster victims Community playground

Chapter 1

Modern Project Management

PMI
Project Management Institute http://www.pmi.org PM is not just a job title GE quote (p. 5) P j t management skills will give you an edge Project t kill ill i d on the job hunt competition

What is a Project?
Project Defined
A complex, non-routine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs

Examples
HD TV enters market New movie nears completion Concert raises millions Link Breaks Ground

What is a Project?
Major Characteristics of a Project (different than other organization endeavors)
Has an established objective. Has a defined life span with a beginning and an end.
PMs move from one job to the next

NOT A Project
NOT everyday work NOT routine NOT repetitive work A project is only d j ti l done once When the project is done, a new product or service exists Table 1.1, p. 6

Usually, the involvement of several departments and professionals. Usually, doing something that has never been done before.
Sets of routines vs. customization

Has specific time, cost, and performance requirements.

High degree of accountability balance/trade-off Satisfy Customer

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Programs versus Projects

Terms are often interchanged Both are directed toward goals and require plans and resources to reach their goals Both use similar tools, methods, policies Differences lies primarily in scope and time horizon

Programs versus Projects

Program Defined
A series of coordinated, related, multiple projects that continue over an extended time and are intended to achieve a goal. A higher level group of projects targeted at a common goal. Example:
Project: completion of a required course in project management. Program: completion of all courses required for a business major.

The Project Life Cycle

p. 7, Fig 1.2, Generic Project Life-Cycle Illustrates the unique nature of project work Can be used as cornerstone to managing projects Level of effort is exemplified

The Challenge of Project Management

Marketing manager, production manager, financial manager The Project Manager
Manages temporary, non-repetitive activities and frequently acts independently of the formal organization. organization
Marshals resources for the project. Is linked directly to the customer. Manages customer expectations and what is reasonable and feasible. Provides direction, coordination, and integration to the project team, who are functional participants Is responsible for performance and success of the project (frequently with little authority).

The Challenge of Project Management

The Project Manager
Ensure appropriate trade-offs are made between time, cost, and performance. Generally only possess rudimentary technical knowledge Must induce the right people at the right time to address the right issues and make the right decisions.

The Importance of Project Management

Becoming a standard way of doing business Reasons why:
Compression of the product life cycle
Need to get products to market faster

Global competition Global

Need to lower costs and improve quality

Knowledge explosion
Increased complexity of products

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The Importance of Project Management

Reasons why:
Corporate downsizing
Coordinating outsourced services

Integrated Project Management Systems

Piecemeal Approach: Use of different pieces of systems for managing projects PM Problem: Need to get it right the first time Problems w/ piecemeal project management systems:
Do not tie together the overall strategies of the firm firm. Fail to prioritize selection of projects by their importance of their contribution to the firm. Are not integrated throughout the project life cycle. Do not match project planning and controls with organizational culture to make appropriate adjustments in support of project endeavors.

Increased customer focus

Customization

Rapid development of Third World and closed economies

Quickly establish distribution channels, expansions

Small projects that represent big problems

Cumulative impact of many small projects can be overlooked

Integrated Project Management Systems

Emphasis today is on integrated PM process Focus on:
PM tool mastery Interpersonal skills Domain expertise

Integrated Project Management Systems

Integration of Projects with strategic plan (p.13)
Strategic plan written by one group, project selection by another, project implementation by another Leads to conflict, confusion, unsatisfied customer

Integration w/in the process of managing actual projects (p. 13)

2 sides:
Technical (science): formal, disciplined, logic (planning, scheduling, controlling) Sociocultural (art): implementation (works well with others, p.15)

Integration of Projects with strategic plan Integration w/in the process of managing actual projects

InIn-class Exercise
Search job / company websites Report on extent of project management skills required