1 what is a project? key concepts: definition of a project characteristics of a project
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What Is a Project?
• A project is “a temporary endeavor undertaken to create a unique product, service, or result.”*
• Operations is work done to sustain the business.
• A project ends when its objectives have been reached, or the project has been terminated.
• Projects can be large or small and take a short or long time to complete.*PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (2004), p. 5.
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PMI Definition
“A temporary endeavor undertaken to create a unique product or service”
Source: A Guide to the Project Management Body of Knowledge, Project Management Institute Standards Committee, p. 167, 1996
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What is Project Management?
“Project management is the application of knowledge, skills, tools and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project.” *
*Project Management Institute, PMBOK 2000
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What is Project Management?
• Application of Knowledge/Skills/ and Tools/Techniques to Project Activities
• Meet/Exceed Expectations
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Project Attributes?
• Temporary, with unique purpose
• Goal-directed
• Collaborative
• Resources constrained
• Endeavor
• Uncertainty
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Project Management Tools and Techniques
• Project management tools and techniques assist project managers and their teams in various aspects of project management.
• Specific tools and techniques include:– Project charters, scope statements, and WBS
(scope).– Gantt charts, network diagrams, critical path
analyses, critical chain scheduling (time).– Cost estimates and earned value management
(cost).
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PM Development Goals
• According to specification (Scope)
• Schedule (Time)
• Within Budget (Cost)
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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 organisational goals.
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Other Common Characteristics of Projects
• Multidisciplinary
• Complex
• Conflict
• Part of Programs
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PROJECT MANAGEMENT VS. GENERAL MANAGEMENT
Projects• Unique• Finite• Revolutionary
charge• Unbalanced
objectives• Transient resources
Operations• Repetitive on going • Evolutionary change• Equilibrium• Balanced objectives• Stable resources
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Examples of a Project
A project can be of any type;
Opening a restaurantConstructing a buildingLaunching a new product
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Skill Requirements for Effective Project Management
• Conflict Resolution
• Creativity and Flexibility
• Ability to Adjust to Change
• Good Planning
• Negotiation– win-win versus win-lose
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How do these work?
• You are thinking about planning a holiday abroad as a project.
How would you define:• Performance• Cost • Time?
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Project Life Cycle
• Initiating Processes
• Planning Processes
• Executing/Implementation Processes
• Controlling Processes
• Closing Processes
• S-Shape Curve
• J-Shape Curve