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Ch-1 Projects in Contemporary Organizations Update (22-1-2022)

This document summarizes Chapter 1 of the textbook "Project Management: A Managerial Approach 10/e". It introduces key concepts around projects in contemporary organizations, including that project management is increasingly being used for internal projects, not just large complex external projects. It defines projects as temporary endeavors to create unique products or services with finite durations. Project objectives involve balancing the triple constraints of cost, scope, and time. Forces driving the growth of project management include increased competition and the exponential growth of knowledge.

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48 views20 pages

Ch-1 Projects in Contemporary Organizations Update (22-1-2022)

This document summarizes Chapter 1 of the textbook "Project Management: A Managerial Approach 10/e". It introduces key concepts around projects in contemporary organizations, including that project management is increasingly being used for internal projects, not just large complex external projects. It defines projects as temporary endeavors to create unique products or services with finite durations. Project objectives involve balancing the triple constraints of cost, scope, and time. Forces driving the growth of project management include increased competition and the exponential growth of knowledge.

Uploaded by

Moh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Project Management:

A Managerial Approach 10/e


(International Student Version)

Jack R. Meredith and


Samuel J. Mantel

Published by John Wiley & Sons, Inc.

1
Chapter 1
Projects in Contemporary
Organizations

2
Introduction

• Rapid growth in project management


• In the past, most projects were external
– Building a new skyscraper
– New ad campaign
– Launching a rocket
• Growth lately is in internal projects
– Developing a new product
– Opening a new branch
– Improving the services provided
3
Projects Tend to be Large

• Projects tend to be large


– The Channel Tunnel, or Chunnel
– Denver International Airport
– Panama Canal expansion project
– Three Gorges Dam, China
• Projects are getting larger over time
– Flying: balloons → planes → jets → rockets →
reusable rockets
• The more we can do, the more we try to do
4
Project Management Also Getting Smaller

• More people are seeing the advantages of


project management techniques
• The tools have become cheaper
• The techniques are becoming more widely
taught and written about

5
Three Project Ojectives: Triple Constraints

• Cost: The financial constraints


of a project, also known as the
project budget

• Scope: The tasks required to


fulfill the project’s goals

• Time: The schedule for the


project to reach completion

6
Direct Project Goals: Scope, Cost, Time

7
The Definition of a “Project”
• A temporary endeavor undertaken to create a
unique product, service, or result

• In its early days, project management was used


mainly for large complex projects.

• As the tools and techniques were developed,


the use of project organization began to spread.

1-8
Major Characteristics of a Project

• Three main
– Unique
– One-time occurrence
– Finite duration
• Other
– Interdependencies
– Limited resources
– Conflict

1-9
Project Success

• Project efficiency
• Impact on the customer
• Business impact on the organization
• Opening new opportunities for the future

1-10
Project Manager

• Project manager is the key individual on a


project
• Project manager is like a mini-CEO

1-11
Why Project Management?

• Companies have experienced (positives):


– Better control
– Better customer relations
– Shorter development times
– Lower costs
– Higher quality and reliability
– Higher profit margins
– Sharper orientation toward results
– Better interdepartmental coordination
– Higher worker morale
12
Negative Side to Project Management

• Greater organizational complexity


• Higher probability organizational policy will
be violated
• Says managers cannot accomplish the
desired outcome
• Conflict

1-13
Forces Fostering Project Management

• Main forces in driving the acceptance of


project management:
– Exponential growth of human knowledge
– Growing demand for a broad range of complex
goods and services
– Increased worldwide competition
• All of these contribute to the need for
organizations to do more and to do it faster

1-14
Project Management Organizations

• The Project Management Institute, founded


in 1969, is the major project management
organization
• Grew from 7,500 members in 1990 to over
450,000 in more than 190 countries by 2017
• Other organizations
– Association for Project Management
– International Project Management Association
1-15
PMI Certifications

• Project Management Professional


• Program Management Professional
• Portfolio Management Professional
• Certified Associate in Project Management
• PMI Professional in Business Analysis
• PMI Agile Certified Practitioner
• PMI Risk Management Professional
• PMI Scheduling Professional
1-16
The Project Life Cycle

1-17
Another Possible Project Life Cycle

1-18
Risk

• Uncertainty about our ability to meet project


goals due to various factors in the project life
cycle

1-19
The Structure of Project Management TEXT

2-20

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