The World of Project Management

1

• The World of Project Management

2
(No Transcript)
3
WHAT IS A PROJECT?
4
Why the emphasis on project management?

• Many tasks do not fit neatly into
  business-as-usual.
• Need to assign responsibility and authority for
  achievement of organizational goals.

5
Characteristics of Projects

• Unique
• Specific Deliverable
• Specific Due Date

6
Other Common Characteristics of Projects

• Multidisciplinary
• Conflict
• Complex
• Part of Programs

7
PMI Definition

• A temporary endeavor undertaken to create a
  unique product or service
• Project Management Institute, 2000

8
PROJECT MANAGEMENT VS. GENERAL MANAGEMENT
9
Skill Requirements for Effective Project
Management

• Conflict Resolution
• Creativity and Flexibility
• Ability to Adjust to Change
• Good Planning
• Negotiation
• win-win versus win-lose

10
WHAT IS MANAGED? THE THREE GOALS OF A PROJECT
11
Figure 1-1 Performance, Cost, and Time Project
Targets
12
THE LIFE CYCLES OF PROJECTS
13
Figure 1-2 The Project Life Cycle
14
Figure 1-3 An Alternate Project Life Cycle
15
SELECTING PROJECTS
16
Nonnumeric Selection Methods

• The Sacred Cow
• The Operating/Competitive Necessity
• Comparative Benefits

17
Numeric Selection Methods

• Financial Assessment Methods
• payback period
• discounted cash flow
• Scoring Methods
• unweighted 0-1 factor method
• weighted factor scoring method

18
Confronting Uncertainty The Management of Risk
19
What uncertainties are encountered in project
management?

• Time required to complete a project
• Availability of key resources
• Cost of resources
• Timing of solutions to technological problems
• Actions taken by competitors
• Actions taken by clients

20
Can uncertainty surrounding projects ever be
eliminated?

• No, but it can be managed

21
THE PROJECT PORTFOLIO PROCESS
22
The Project Portfolio Process

• Step 1 Establish a Project Council
• Step 2 Identify Project Categories and Criteria
• Step 3 Collect Project Data
• Step 4 Assess Resource Availability
• Step 5 Reduce the Project and Criteria Set
• Step 6 Prioritize the Projects within Categories
• Step 7 Select the Projects to be Funded and Held
  in Reserve
• Step 8 Implement the Process

23
The Aggregate Project Plan
24
Figure 1-12 An Example Aggregate Project Plan