MODERN PROJECT MANAGEMENT

What is a Project?
All of mankind's greatest accomplishments –from building the great pyramids to discovering a cure for
polio to putting man on the moon –began as a project.
 What is a Project?

The major characteristics of a project are as follows:

1. An established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of several departments and professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.
 What is a Project?

Comparison of Routine Work with Projects

 What is a Project?

A project, then, is a temporary endeavor undertaken to create a unique

product or service. It is specific, timely, usually multidisciplinary, always
conflict ridden.

Project are parts of overall programs and may be broken down into
tasks, subtasks, and further if desired.

According to the Project Management Institute,

A project is a temporary endeavor undertaken to create a
unique product, service or result.
The Project Life Cycle
The Project Manager

Plan, schedule, motivate and control temporary and non-repetitive

activities

Includes decision making that will meet the challenges of the project life
cycle

Must oversee the project’s operation upon completion

Provides direction, coordination, and integration to the project team
including suppliers, subcontractors, vendors
Ultimately responsible for performance and must orchestrate the
completion of the project by getting the right people, time and decisions
Accomplishment of projects brings about joy and pride

Good project managers are always in demand because of their

challenging yet exciting tasks
The Project Manager

The Importance of Project Management

Compression of the Product Life Cycle

Knowledge Explosion
Triple Bottom Line (planet, people, profit)
Corporate Downsizing
Increased Customer Focus
Small Projects Represent Big Problems
 Project Management Today – An Integrative Approach

* Integration of Projects with

Organizational Strategy * Integration of Projects
through * Integration of the Processes
Portfolio Management of Implementing Actual
- Oversee project selection Projects
- Monitor aggregate resource levels
and skills
- Encourage use of best practices.
- Balance projects in order to represent
a risk level appropriate to the
organization.
- Improve communication among all
stakeholders.
- Create total organization perspective
that goes beyond silo thinking.
- Improve the overall management of
projects over time.
 Summary

Effective project management begins with selecting and prioritizing

projects that support the firms mission and strategy. Successful
implementation requires both technical and social skills. Project
managers have to plan and budget projects as well as orchestrate the
contributions of others.
Thank you!