Chapter 1 - Modern project management. The main contents of the chapter consist of the following: What is a project? The importance of project management, project management today - an integrative approach. | What is a Project? Project Defined A complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs. Major Characteristics of a Project Has an established objective. Has a defined life span with a beginning and an end. Requires across-the-organizational participation. Involves doing something never been done before. Has specific time, cost, and performance requirements. 1– 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. 1– Comparison of Routine Work with Projects TABLE Routine, Repetitive Work Taking class notes Daily entering sales receipts into the accounting ledger Responding to a . | What is a Project? Project Defined A complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs. Major Characteristics of a Project Has an established objective. Has a defined life span with a beginning and an end. Requires across-the-organizational participation. Involves doing something never been done before. Has specific time, cost, and performance requirements. 1– 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. 1– Comparison of Routine Work with Projects TABLE Routine, Repetitive Work Taking class notes Daily entering sales receipts into the accounting ledger Responding to a supply-chain request Practicing scales on the piano Routine manufacture of an Apple iPod Attaching tags on a manufactured product Projects Writing a term paper Setting up a sales kiosk for a professional accounting meeting Developing a supply-chain information system Writing a new piano piece Designing an iPod that is approximately 2 X 4 inches, interfaces with PC, and stores 10,000 songs Wire-tag projects for GE and Wal-Mart 1– Project Life Cycle FIGURE 1– The Challenge of Project Management The Project Manager Manages temporary, non-repetitive activities and frequently acts independently of the formal organization. Marshals resources for the project. Is linked directly to the customer interface. Provides direction, coordination, and integration to the project team. Is responsible for performance and success of the project. Must induce the right people at the right time to address the right issues and make the right decisions. 1– The Importance of Project Management
