ECONOMICS 36 PROJECT DEVELOPMENT MANAGEMENT

INTRODUCTION

INTRODUCTION:
I. What is a Project? II. What are projects for? III. How are projects used in organizations? IV. Project Management vs General Management V. The General Project Goals

WHAT IS A PROJECT?

I. WHAT IS A PROJECT?
A temporary endeavor undertaken to create a unique project or service. (PMI, 2004) A specific and unique task with a specific deliverable aimed at meeting a specific need or purpose.

I. WHAT IS A PROJECT?

Projects are: multidisciplinary breeding grounds for conflict DO NOT exist in isolation

I. WHAT IS A PROJECT?

Projects DO NOT exist in isolation: projects are subdivisions of programs projects are broken down into tasks

II. Why Projects? What are they for?

An Operational Definition of Project Management

II. Why Projects? What are they for?

Projects organize the responsibility and the authority for the achievement of an organizational goal on an individual or small group when the job does not clearly fall within the definition of routine work.

II. Why Projects? What is Project Development?

is the discipline of planning, organizing, securing and managing resources to bring about the successful completion of specific project goals and objectives.

II. Why Projects? What is Project Development?

is a dynamic process that utilizes the appropriate resources of the organization in a controlled and structured manner to achieve some clearly defined objectives identified as strategic needs. It is always conducted with a defined set of constraints.

III. How are Projects used in organizations?

Trends in Project Management

III. How are Projects used in organizations?

Achieving Strategic Goals Achieving Routine Goals Improving Project Effectiveness Virtual Projects Quasi-Projects

IV. PROJECT DEVELOPMENT vs. GENERAL MANAGEMENT

IV. PROJECT DEVT vs GENERAL MANAGEMENT

A.

Characteristics of Project Development is more detailed Project budgets are newly-created for each project The project budget is derived from the project plan which contains SPECIFIC activities Each project has and adheres to its own schedule The need for technical knowledge and other resources require that departmental lines are crossed Can be done by different team members coming from different office sites (and can rely on technology for constant communication) Responsibility without rank or position is fairly common

IV. PROJECT DEVT vs GENERAL MANAGEMENT

B. Characteristics of General Management dependent on good planning budgets are usually modifications from the same activity from past periods the sequence of activities do not change much or at all activities are in sync with the organizational structure and how the departments are divided etc globalization means setting up a new office in offsites there is a well-defined managerial structure

V. THE THREE GOALS OF A PROJECT

What is actually managed?

V. THE THREE GOALS OF A PROJECT

A. Meet Specifications
B. Finish within Schedule C. Carry out the project within the set budget

V. THE THREE GOALS OF A PROJECT

D. Some Caveats: Projects operate under uncertainty Projects must be flexible The PM must be able to make decisions on trade-offs

END OF LECTURE
NEXT UP: The Project LifeCycle and Project Selection Methods