The following will be discussed in this chapter: What Is a project? project management vs. general management, what is managed? the three goals of a project, the life cycles of projects, selecting projects to meet organizational objectives, the project portfolio process. | Chapter 1 The World of Project Management Why the Emphasis on Project Management? Many tasks do not fit neatly into business-as-usual Organizations need to assign responsibility and authority for the achievement of their goals Characteristics of Projects Unique Specific deliverables Specific due date Formal Definition of a Project “A project is a temporary endeavor undertaken to create a unique product or service.” Project Management Institute, 2007 Formal Definition of Project Management “The application of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project.” Project Management Institute, 2007 Other Common Characteristics of Projects Multidisciplinary Complex Often involve conflicts Part of programs Trends in Project Management Achieving strategic goals Achieving routine goals Improving project effectiveness Virtual projects Quasi-projects Comparison of Project Management and General Management Table 1-1 | Chapter 1 The World of Project Management Why the Emphasis on Project Management? Many tasks do not fit neatly into business-as-usual Organizations need to assign responsibility and authority for the achievement of their goals Characteristics of Projects Unique Specific deliverables Specific due date Formal Definition of a Project “A project is a temporary endeavor undertaken to create a unique product or service.” Project Management Institute, 2007 Formal Definition of Project Management “The application of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project.” Project Management Institute, 2007 Other Common Characteristics of Projects Multidisciplinary Complex Often involve conflicts Part of programs Trends in Project Management Achieving strategic goals Achieving routine goals Improving project effectiveness Virtual projects Quasi-projects Comparison of Project Management and General Management Table 1-1 Project Budgets Project budgeting differs from standard budgeting in the way budgets are constructed Budgets for non-projects are primarily modifications of budgets for the same activity in the previous period Project budgets are newly created for each project and often cover several “budget periods” in the future Project Schedules In manufacturing, the sequence of activities is set when production line designed Sequence is not altered when new models are produced Each project has a schedule of its own Previous projects with deliverables similar to current one may provide a rough template However, specifics unique to project at hand Project Organizational Structure Routine work of organizations takes place within a well-defined structure The divisions, departments, sections, and similar subdivisions of the total unit Typical project cannot thrive in this structure The need for technical knowledge, information, and special skills requires that departmental lines be crossed Another way .
