After you have mastered the material in this chapter, you will be able to: Understand how projects differ from routine operational work, develop an understanding of the background to project management, understand at a broad level the concept of a project life cycle, make the link between an organisation’s strategy and the need for projects. | CHAPTER 1 Modern Project Management Learning Elements Understand how projects differ from routine operational work. Develop an understanding of the background to project management. Understand at a broad level the concept of a project life cycle. Make the link between an organisation’s strategy and the need for projects. What is a Project? Characteristics An established objective A defined lifespan with a defined beginning and end (temporary) Usually the involvement of several departments and/or professionals Typically doing something that has never been done before (unique) Specific time, cost and performance requirements What is not a Project? Routine, repetitive work Ordinary daily work that typically requires doing the same, or similar work, over and over Comparison of Routine Work and Projects Routine, repetitive work Taking meeting notes Daily entering sales receipts into the accounting ledger Responding to a supply-chain request Practising scales on the | CHAPTER 1 Modern Project Management Learning Elements Understand how projects differ from routine operational work. Develop an understanding of the background to project management. Understand at a broad level the concept of a project life cycle. Make the link between an organisation’s strategy and the need for projects. What is a Project? Characteristics An established objective A defined lifespan with a defined beginning and end (temporary) Usually the involvement of several departments and/or professionals Typically doing something that has never been done before (unique) Specific time, cost and performance requirements What is not a Project? Routine, repetitive work Ordinary daily work that typically requires doing the same, or similar work, over and over Comparison of Routine Work and Projects Routine, repetitive work Taking meeting notes Daily entering sales receipts into the accounting ledger Responding to a supply-chain request Practising scales on the piano Routine manufacture of an Apple iPod Projects Writing a book. Setting up a sales kiosk for a professional accounting conference Developing a supply-chain information system Writing a new piano piece Designing a new media player Program versus Project A program is the application of knowledge, skills, tools and techniques to meet specific requirements. A program obtains benefits and control not available by managing projects individually. Portfolio versus Program Portfolios provide an overarching umbrella for an organisation to manage all investment activity. Portfolios may be managed as a mix of programs and/or major projects. The Project Life Cycle The Project Manager Marshals resources for the project and relates directly to the customer Provides direction, coordination and integration to the project team Is responsible for the performance and success of the project Must induce the right people at the right time to address issues, make decisions and carry out the .
