...THE MEANING OF PROJECT: A project is a unique venture with specific start and end dates. This is different from an ongoing task that doesn't have an end date. Projects often involve different parts of an organization. Constraints on project include cost, schedule, resources, and quality. There is a give and take between these items i.e. you can't have it all. Usually projects are divisible into stages or phases each with their own set of priorities and goals. A project is an important and carefully planned piece of work that is intended to build or produce something new, or to deal with a problem. The Project Management Institute, U.S.A. has a good definition for it. According to the Institute, a project is a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources. It also describes a project as: a combination of human and non-human resources pooled together in a temporary organization to achieve a fixed set of objectives The aforementioned descriptions emphasize that a project does not mean a material body or form, rather it denotes an operation undertaken temporarily to achieve a goal-directed objective within a limited time. In contrast, the Oxford English Dictionary states that a project is "a plan, scheme or table of something; a tabulated statement; a design or pattern according to which something is made; something projected or proposed for execution; a proposal." It is, therefore correct to...
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...2/1/04 The Role of the Project Life Cycle (Life Span) in Project Management A literature review by R. Max Wideman (Updated February, 2004.) Introduction Patel and Morris have stated that "The life cycle is the only thing that uniquely distinguishes projects from non-projects".1 If that is true, then it would be valuable to examine just what role the so-called project life cycle plays in the conduct of project management. And, moreover, has this changed over the years as we improve our understanding of the complexities of project management. So, what is the project life cycle? According to the same source "The sequence of phases through which the project will evolve. It is absolutely fundamental to the management of projects . . . It will significantly affect how the project is structured. The basic life cycle follows a common generic sequence: Opportunity, Design & Development, Production, Hand-over, and Post-Project Evaluation. The exact wording varies between industries and organizations. There should be evaluation and approval points between phases often termed 'gates'."2 How does that make it different from normal operational corporate endeavors? For that we must understand the definition of project. According to Richard E. Westney: "A project can be defined as the work required to take an opportunity and convert it into an asset."3 In this sense, both the opportunity and asset are singular, with the implied use being for generating benefit – rather than consumed as a...
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...received full credit for this paper - 100 % Project Management Paper MGT/437 July 8, 2013 Jenny Kirgis, MBA Project Management Paper The purpose of this paper is to define the concepts that are involved in project management. Organizations across the globe utilize a particular kind of organized methodology to manage business projects. Project management is a means that brings significant benefits and discipline to organizations because it helps to define goals and objectives, it highlights the areas of success, and it accesses risk factors involved in the project. In addition it helps to manage change within an organization and it ensures that the corrected resources are available to complete project. The paper will discuss in detail the importance of project management and why organizations utilize it to accomplish project tasks. In addition it will discuss and define a project and it will describe the phases of a project life cycle and their functions. What is a Project? A project is reviewed as any series of tasks and activities that is directly linked to a specific assignment that must be completed by a specified deadline. A project will usually have a concrete start and completion date with a set amount of money allocated to fund the project. Projects are multifunction which consists of both human and nonhuman resources such as equipment, budgets and people (Kerzner, 2006). Project development, planning and implementation require...
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...11/17/07 The Project Management Life Cycle By Jason Westland (A book review by R. Max Wideman) Introduction Editor's Note: We liked so much of this book that we asked for the author's permission to quote extensively from the whole of Jason Westland's Chapter 1. This is because it succinctly describes what follows in detail in the remainder of the book. However, in pursuing our regular book review structure, we placed his text under corresponding headings. Since the quotations are so extensive, we have not followed our normal practice of indenting quoted paragraphs. However, the references are identified in the footnotes. As Jason says: "Welcome to The Project Management Life Cycle. This book describes the Methodl23® Project Management Methodology (MPMM)1 and provides a practical approach to managing projects. Every phase, activity and task in the project life cycle is described here in detail to help you manage staff, customers and suppliers efficiently. By reading this book, you will gain the knowledge and confidence required to properly initiate a project, create detailed project plans, build high quality deliverables, monitor and control delivery and close projects effectively. "Not only will you learn how to successfully complete projects from end to end, but you will also be armed with a suite of tools and templates to allow you to create project deliverables quickly and easily. More than 150 charts, tables and diagrams are included in this book to help explain the steps...
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...Project Management, 2e (Pinto) Chapter 1 Introduction: Why Project Management? 1.1 True/False 1) Projects, rather than repetitive tasks, are now the basis for most value-added in business. Answer: TRUE Diff: 1 Section: 1.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Projects have a process orientation. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 3) A typical project stays within functional and organizational boundaries. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 4) The special nature of projects relieves project managers from their routine of planning, organizing, motivating, directing, and controlling. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 5) A project exists outside of the standard line organization. Answer: TRUE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 6) The initial goal and technical specifications of the project are developed during the planning stage. Answer: FALSE Diff: 2 Section: 1.3 Project Life Cycles Skill: Factual AACSB Tag: Reflective 7) Client interest in a project is highest during the termination and conceptual phases. Answer: TRUE Diff: 2 Section: 1.3 Project Life Cycles Skill: Factual AACSB Tag: Reflective 8) The classic triple constraint standard for project performance...
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...Project Management: Achieving Competitive Advantage, 3e (Pinto) Chapter 1 Introduction: Why Project Management? 1.1 True/False Questions 1) Projects, rather than repetitive tasks, are now the basis for most value-added in business. Answer: TRUE Diff: 1 Section: 1.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Projects are typically ongoing, day-to-day activities that have goods and services as outputs. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 3) A typical project stays within functional and organizational boundaries. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 4) The special nature of projects relieves project managers from their routine of planning, organizing, motivating, directing, and controlling. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 5) A project exists outside of the standard line organization. Answer: TRUE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 6) Product life cycles are longer now than twenty years ago. Answer: FALSE Diff: 2 Section: 1.2 Why Are Projects Important? Skill: Factual AACSB Tag: Reflective 7) The emergence of global markets has made project management skills more critical. Answer: TRUE Diff: 1 Section: 1.2 Why Are Projects Important? Skill: Factual AACSB Tag: Reflective ...
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...ch1 1. The advent of project management has been most profound in A. Automobile manufacturing B. Construction C. Information technology D. The U.S. Department of Defense E. Film making 2. A professional organization for project management specialists is the A. PMI B. AMA C. MIS D. IPM E. PMBOK 3. Which of the following is not considered to be a characteristic of a project? A. An established objective B. A clear beginning and end C. Complex tasks D. Only for internal use E. Never been done before 4. Which of the following activities is not considered a project? A. Developing a new software program B. Designing a space station C. Preparing the site for the Olympic Games D. Production of automobile tires E. Developing a new advertising program 5. From among the following activities, which is the best example of a project? A. Processing insurance claims B. Producing automobiles C. Writing a term paper D. Completing a college degree E. All of these are good examples of projects 6. Which of the following constraints is not typically found in managing projects? A. Time B. People C. Cost D. Performance E. Both B and D are not typical constraints 7. Which of the following choices is not one of the stages of a project life cycle? A. Conceptualizing B. Defining C. Planning D. Executing E. Delivering 8. In which of the following stages are project objectives established, teams formed, and major responsibilities assigned? A. Conceptualizing B. Defining C. Planning D. Executing...
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...MBP1133 | Project Management Framework Prepared by Dr Khairul Anuar L1 – The Project Environment www.notes638.wordpress.com 1 Lecture Topics 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. Introduction Understanding Project Management Overview of Project Management Project Management according to PMBOK® Guide What is a Successful Project Management Benefits of Project Management Obstacles in Project Management Project Deliverables Project Stakeholders Defining Project Success Defining the Project Manager’s Role Project Scope and Product Scope Project Management Success Factors Project Management Failure Project Life Cycle Integrated Processes of Project Management Integrated Processes of Project Management 2 1. Introduction • PM started about 40 years ago in the US in the Department of Defense contractors and construction companies. • Today, the concept behind project management is being applied in such diverse industries and organizations as defense, construction, pharmaceuticals, chemicals, banking, hospitals, accounting, advertising, law, state and local governments, and the United Nations and even transitional planning for a new US president (Romney Readiness Project, in 2012), and NGOs/disaster relief organisation 3 4 2. Understanding Project Management • A project can be considered to be any series of activities and tasks that: Have a specific objective to be completed within certain specifications Have defined start and end dates Have funding...
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...Development Life cycle (SDLC) is a model which is used in a project management that involves and describes the stages which are used in information system development project. This life cycle is very useful for the implementation of system development project. The system is a set of components that interact to achieve common goals. It is widely used method of software development and acquisition in information technology area. Various enterprises used this system to achieve a common goal by working together in a proper and systematic way which is useful for achieving the resources and goal. There are various phases which are involved in the process of systematic development life cycle i.e. Planning, Analyzing, designing, supportive and implementation (Joanne Curry, 2007). Planning help us to review the project request, allocate resources and identify project development team. Analyzing is done to conduct preliminary investigations, Designing is done to acquire hardware and software and develop details of systems. Supporting is done to identify errors and monitor system performance and Implementation is a final stage which develops programs and install and convert it into new system. This phase says about its usage in various different enterprises and institutions (Angela Bonin, 2012). The use of System Development Life Cycle in health care institution involves various principal component of a regional hospital care facility. It is much standardised project of management framework which...
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...IT Project Management Definition of a project: • Temporary endeavor with a beginning and an end • Creates a unique product, service or result • Is progressively elaborated-distinguishing characteristics of each unique project will be progressively detailed as the project is better understood. Remember that a project manager must come up with a project management plan that can be agreed to, that people believes is realistic, and most importantly, that they can stake their reputations on. It is time someone said this out loud: Excluding approved changes for additional work, if the project manager does not get the project completed for the time and cost they agreed to (in addition to meeting other objectives) he should be relieved of his position! Why so dramatic? Studies conduct by the Standish Group in 2004 show that only 34% of projects are successful. This means we are doing bad job of project management and things need to change. What is Project Management? Many people think project management is just managing or even worse, that one can buy some software and be a project manager. Project management is a profession which is growing extremely fast. It is both a science and an art, and follows a systematic process. The Project management Institute breaks project management into Professional and Social Responsibility, knowledge areas and process groups. Knowledge areas are Integration, Scope, Time, Cost, Quality, Human Resources...
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...Chapter 2: The Project Management and Information Technology Context Learning Objectives o Describe the systems view of project management and how it applies to IT projects. o Understand organizations, including the four frames, organizational structures, and organizational culture. o Explain why stakeholder management and top management commitment are critical for a project’s success. Learning Objectives (Cont.) o Understand the concept of a project phase and the project life cycle and distinguish between project development and product development. o Discuss the unique attributes and diverse nature of IT projects. Projects cannot be Run in Isolation o Projects must operate in a broad organizational environment. o Project managers need to use systems thinking: n Taking a holistic view of a project and understanding how it relates to the larger organization. o Senior managers must make sure projects continue to support current business needs. A Systems View of Project Management o The term systems approach emerged in the 1950s to describe a holistic and analytical approach to solving complex problems. o Three parts include: n Systems philosophy: an overall model for thinking about things as systems, which are interacting components that work within an environment to fulfill some purpose. n Systems analysis: Problem-solving approach. n Systems management: Address business, technological, and organizational issues before making changes to systems. Three...
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...The Project Management Life Cycles The Project Management Life Cycles It doesn't matter what project you are preparing for, the project management life cycle can assist you and your team in narrowing the project's focus, keeping its objectives in order and finishing the project on time, on budget and with a minimum of headaches. The project management life cycle contains five steps: Initiation, Planning, Execution, Monitoring/Control and Closure. No one step is more important than the other and each step plays a crucial role in getting you started, through all the hurdles, down to the wire and across the closing line. The five process groups are: Initiating, Planning, Executing, Monitoring & Controlling, and Closing. We'll start with Initiation; Initiation: In this first step you provide an overview of the project in addition to the strategy your planning on using in order to achieve the desired results. During the Initiation phase you’ll develop the Project Charter, Identify Stakeholders, appoint a project manager and based on his or her experience and skills, he/she will select the required team members. The processes performed to define a new project or a new phase of an existing project Planning: This second step is extremely important, it should include a detailed breakdown and assignment of each task of your project from beginning to end. The Planning Phase will also include a risk assessment, the scope of the project, refine the objectives and define the...
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...Project Management T. Jones MGT/475 June 20, 2015 Project Management A project is a temporary preoccupation, which may be described as a planned prearrangement of interrelated assignments to be executed over a preset period of time as well as a predetermined cost including all other limitations. In fact, each project contains different but otherwise relevant and unique objectives, to sole certain issues within an organization’s daily operations. A project is not necessarily a routine operation, however each project does contain a detailed and specific collection of procedures that are structured and geared to achieve a particular goal. It is common practice that when a team is created for a project, the members do not generally work together. There are projects that require team members to collaborate from different organizations as well as multiple locations geographically. As it relates to projects, this paper will describe and go into great detail of what a project is; what projects accomplish as well as give actual examples of circumstances that are considered to be projects. The basic phases of the project cycle will also be explained in the text of this paper. The reasons why it is important for organizations to use project management will be discussed; as the purpose of project management as a whole is designed to address several different aspects of any organization. This paper will cover the challenges that organizations face while executing projects. Lastly...
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...QMDS 400 (001) Project and Quality Management Introduction FU, Qi (Grace) 1st Semester 2014/2015 Learning Objectives Understand the nature and management of projects Describe project life cycle stages Know the nine knowledge areas and five process groups of the project management body of knowledge (PMBOK®). Understand measures of project success and failure 2 2 Different Scenarios As a manager, quite often, one would face managing the following: Building a facility such as a production plant, an airport Running a production plant Designing a commercial ad campaign Developing a new product or service Opening a new branch Merging with another company Running a service organization such as airport, supermarket, library, bank, etc. 3 What is a Project? A project is a temporary endeavor undertaken to create a unique product, service, or result. Characteristics of Projects Temporary – Definite beginning and ending Unique – New undertaking, unfamiliar ground 4 4 Projects Versus Operations Consider the following scenario: You work for a wireless phone provider, and the VP of marketing approaches you with a fabulous idea-"fabulous" because he's the big boss and because he thought it up. He wants to set up kiosks in local grocery and bigbox stores as mini-offices. These offices will offer customers the ability to sign up for new wireless phone services, make their wireless phone bill payments...
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...STAKE HOLDER MANAGEMENT Introduction. A stakeholder is any person or organization who can be positively or negatively affected or affect the actions of: a company, government or organization. People who have vested interest in the policy that is being promoted are considered stakeholders in the process. There are various types of stake holders.Exaple: * Primary stakeholders: are those ultimately affected, either positively or negatively by an organization's actions. * Secondary stakeholders: are the ‘intermediaries’, that is, persons or organizations who are indirectly affected by an organization's actions. * Key stakeholders: (who can also belong to the first two groups) have significant influence upon or importance within an organization. Stakeholder analysis is a term that refers to the action of analyzing the attitudes of stakeholders towards something such as a project. It is frequently used during the preparation phase of a project to assess the attitudes of the stakeholders regarding the potential changes. Stakeholder analysis can be done once or on a regular basis to track changes in stakeholder attitudes. Stakeholder analysis is a process of systematically gathering and analyzing qualitative Information to determine whose interests should be taken into account when developing and implementing a project. [Citation needed] Stakeholder analysis in conflict resolution, project management, and business administration, is the process of identifying the individuals...
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