Project Management & Product Development

ByAssistant Professor

Unnar Theodorsson, M. Sc. (Econ.)

Project Management & Product Development – week 12 Plan of the course, BIS electives Spring 2015 

  Wednesday - The foundation

12.15 – 13.00 Introduction to the course

13.05 -13.50 The Basics:- Project Management- Risk Management I

projects

14.00-14.45 Exercise :

14.50-15.35 What did we learn from Ex 1?

Project Management & Product Development – week 13 Plan of the course, BIS electives Spring 2015 

  Tuesday - The foundation

Wednesday - The Synergy

Thursday

8.20 – 9.00 Sum-up The pitch Execise: Prepare a pitch for client or executive board

9.10.00-11.35 The Basics:- Innovation Management- Product Development/NPD

The Synergy:- Deeper understanding of the new market demands and change in discourse

12.15-14.00 Exercise 2 Choosing case and make a project management plan

Present the pitch to the class

14.00-14.45 What did we learn from Ex 2?

What to pitch What did we learn?

The courseMost markets have demanded NPD for

decadesThe car industry – a new model a yearThe fashion industry – 2 or 4 collections a year

Now – due to technology and globalization – the mindset of consumers and therefore markets – has changed. Companies need to develop much quicker

Project management is founded on managing with a strict timeline

Examples – Fast Food

Examples - Smartphones

Examples - Microcars

Examples – Consoles

Compaies that alomst died because they neglected this proces

The course is threefold The first part of the course – fairly easyBasics of project management – AP levelRisk Management – BA level

The second part of the course – challenging Innovation Management – BA levelNPD – BA level

The third part – more challengingDeeper understanding – synergy and new

discourse – BA level

Project ManagementIntroduction

Definition: Project management is a structured approach to managing projects

What is the single most significant difference between traditional management and PM?

The Project manager has to create a structure that meets the needs of several involved parties The Projects Needs OBS Needs Stakeholder’s Needs Individual’s Needs

Project Management1) What is a project?

PMBOK: ”..a temporary endeavor undertaken to create a unique product or service”

Traditional PM industries vs. Management-by-Projects

Examples of projects: Constructing a building Improving productivity in a period of time Disaster recovery Implementing a new computer system Organizational change

Project ManagementA theoretical overview of distinctive features:

A start and finishA life-cycle A budget and an associated cash-flowUnique/non- repetitive activitiesCross organizational resourcesA single point of responsibility Fast tracking (to become first market mover)Team roles

Project Management2) Project Management

PMBOK: ”..the application of knowledge, skills, tools and techniques to project activities in order to meet stakeholder’s needs and expectations from a project”

Project manager’s component process of 9 types of knowledge: 1) Integration 2) Time 3) Quality 4) Scope 5) Cost 6)

HRM 7) Communication 8) Procurement 9)Risk

Project Life-Cycle WBS – Work Breakdown Structure

Project ManagementWBS – Work Breakdown Structure

Project ManagementGantt Chart

Project ManagementProject Management Triangle

Project ManagementProject Management Triangle

Project Management3) Management-by-projects

Many organizations are changing in nature as more of them are accomplishing their business through projects

The management-by-projects approach encourages: Organizational flexibility Decentralized management responsibility Holistic view of problems Goal-oriented problem solution processes

Areas like: measurement/effectiveness, dynamics

Project ManagementProgramme ManagementPortfolio ManagementSmall ProjectsGeneral ManagementProduct Management Technical ManagementProject Management Environment

Project Management4) Project Management Software5) Project Management Associations

Body of knowledge Project Integration Project Scope Management Project Time Management Project Cost Management Project Quality Management Project HRM Project Communications Management Project Risk Management Project Procurement Managementnt

Project Management6) Benefits of Project Management – some examples

ClientSingle point of ResponsibilityEstimatingFast TrackProject Integration Reporting InterfacesResponse TimeTrendsData CaptureProceduresCloseout ReportMarketing

Project ManagementRole of the Project Manager

Ability to select and develop an operational team Leadership and management ability Ability to anticipate problems & problems and make decisions Ability to integrate the project stakeholders Operational flexibility Ability to plan, expedite and get things done Ability to negotiate and persuade Understand the environment within which the project is being

managed Ability to review monitor and apply control Ability to administer the contact, the scope of work and scope of

changes Ability to manage within an environment of constant change Ability to keep the client happy

PM AssignmentPlease form groups of 5These groups will be working together for the

intire course

PM AssignmentGroup 1 will be working with the following company:

Patek Philippe SA – want to enter the smartphone market

Group 2 will be working with the following company:Restaurant Noma – want to open a chain of burger

restautants

Group 3 will be working with the following company:The Coca-Cola Company – want to enter the market for

beer

Group 4 will be working with the following company:IKEA – want to enter the market for electronics

PM AssignmentGroup 5 will be working with the following company:

Harley Davidson MC – want to enter the car market

Group 6 will be working with the following company:Nike– want to enter the haute couture market

Group 7 will be working with the following company:The Starbucks – want to open a chain of bars

Group 8 will be working with the following company:SONY – want to enter the market for furniture

PM AssigmentYou are a consultant team, hired to help the

company. Your assignment is a ongoing process. At the end of each topic we will have a class sum up

At the end of the week you will make a final pitch with as much detail as you can

Project Management Part Make a concrete goal with your projectMake structure description for your project. What

topics, work processes, key-issues do you have to address?