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A9 Notes

The document discusses key aspects of project management including the definition of a project, characteristics of projects, comparison to routine work, project life cycle stages, roles of a project manager, importance of project management, challenges in a VUCA environment, and strategic management process as it relates to projects. A project is a temporary endeavor with defined objectives, timeline, involvement of various teams, and unique deliverables. Project management involves planning, executing, and closing a project while addressing challenges of volatility, uncertainty, complexity and ambiguity. Strategies are implemented through projects to help organizations achieve long-term goals.

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76 views

A9 Notes

The document discusses key aspects of project management including the definition of a project, characteristics of projects, comparison to routine work, project life cycle stages, roles of a project manager, importance of project management, challenges in a VUCA environment, and strategic management process as it relates to projects. A project is a temporary endeavor with defined objectives, timeline, involvement of various teams, and unique deliverables. Project management involves planning, executing, and closing a project while addressing challenges of volatility, uncertainty, complexity and ambiguity. Strategies are implemented through projects to help organizations achieve long-term goals.

Uploaded by

katana luna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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A project is a temporary endeavor undertaken to create a unique product, service, or result.

The major characteristics of a project are as follows:

1. An established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of several departments and professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.

TABLE 1.1 Comparison of Routine Work with Projects

A program is a group of related projects designed to accomplish a common goal over an extended period
of time.
FIGURE 1.1 Project Life Cycle

1. Defining stage: Specifications of the project are defined; project objectives are established;
teams are formed; major responsibilities are assigned.
2. Planning stage: The level of effort increases, and plans are developed to determine what the
project will entail, when it will be scheduled, whom it will benefit, what quality level should be
maintained, and what the budget will be.
3. Executing stage: A major portion of the project work takes place—both physical and mental.
The physical product is produced (a bridge, a report, a software program). Time, cost, and
specification measures are used for control. Is the project on schedule, on budget, and meeting
specifications? What are the forecasts of each of these measures? What revisions/changes are
necessary?
4. Closing stage: Closing includes three activities: delivering the project product to the customer,
redeploying project resources, and post-project review. Delivery of the project might include
customer training and transferring documents. Redeployment usually involves releasing project
equipment/materials to other projects and finding new assignments for team members. Post-
project reviews include not only assessing performance but also capturing lessons learned.

Project Manager

 Manages temporary, nonrepetitive activities, to complete a fixed life project


 Must work with a diverse troupe of characters (customers, managers, vendors, suppliers,
subcontractors) to complete projects
 Good decision maker
 Are not for the timid, working on projects can be an extremely rewarding experience
Importance of Project Management

 Compression of the Product Life Cycle


 Knowledge Explosion
 Triple Bottom Line (Planet, People, Profit)
 Corporate Downsizing
 Increased Customer Focus
 Small Projects Represent Big Problems

VUCA

Volatility

Uncertainty

Complexity

Ambiguity

FIGURE 1.3 The Technical and Sociocultural Dimensions of the Project Management Process
FIGURE 2.1 Strategic Management Process

The typical sequence of activities of the strategic management process is outlined here; a description of
each activity then follows:

1. Review and define the organizational mission.


2. Set long-range goals and objectives.
3. Analyze and formulate strategies to reach objectives.
4. Implement strategies through projects.

Strategies should be SMART

Specific

Measurable

Attainable/Achievable

Realistic/Relevant

Time Bound/Timely
Portfolio – collection of best practices

Implementation Gap - When strategies are not aligned with the project\

Look at priority system


Operational = day to day activities

Strategic = naka-support sila to meet long term goals


Projectitis

Sense of device -iveness


Power grabbing between functional and project manager
Project Charter

- it refers to the document that authorizes the project manager to initiate and make the project,
legal basis siya
- It includes risk limits
Project Objectives = guided always by SMART acronym, guide to reach main goals

Milestones = significant events of a project ithat occur in a point in time


Process of decomposition into deliverable oriented components
Want to achieve a control mechanism
Chapter 5
Top -Down (Maco-estimates)
Bottom Up (micro estimates)

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