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History of Project Management: Post 1950s. Farrokh Alemi, Ph.D. Lee Baliton Chris Smith. Previous Section. Pre-1950s. Modern Project Management 1950 and Beyond. New techniques and innovations Cost estimating Cost management Engineering economics
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History of Project Management: Post 1950s Farrokh Alemi, Ph.D.Lee Baliton Chris Smith
Previous Section • Pre-1950s
Modern Project Management 1950 and Beyond • New techniques and innovations • Cost estimating • Cost management • Engineering economics • Hans J. Lang - Lang Factor, a cost estimating technique • Lang Factor - ratio of the entire cost of implementing a process • Estimate installation costs for factories, plants, and equipments
Modern Project Management 1950 and Beyond • New techniques and innovations • Cost estimating • Cost management • Engineering economics • Hans J. Lang - Lang Factor, a cost estimating technique • Lang Factor - ratio of the entire cost of implementing a process • Estimate installation costs for factories, plants, and equipments
Modern Project Management 1950 and Beyond • New techniques and innovations • Cost estimating • Cost management • Engineering economics • Hans J. Lang - Lang Factor, a cost estimating technique • Lang Factor - ratio of the entire cost of implementing a process • Estimate installation costs for factories, plants, and equipments
Modern Project Management 1950 and Beyond • New techniques and innovations • Cost estimating • Cost management • Engineering economics • Hans J. Lang - Lang Factor, a cost estimating technique • Lang Factor - ratio of the entire cost of implementing a process • Estimate installation costs for factories, plants, and equipments
Modern Project Management 1950 and Beyond • New techniques and innovations • Cost estimating • Cost management • Engineering economics • Hans J. Lang - Lang Factor, a cost estimating technique • Lang Factor - ratio of the entire cost of implementing a process • Estimate installation costs for factories, plants, and equipments
Modern Project Management 1950 and Beyond • New techniques and innovations • Cost estimating • Cost management • Engineering economics • Hans J. Lang - Lang Factor, a cost estimating technique • Lang Factor - ratio of the entire cost of implementing a process • Estimate installation costs for factories, plants, and equipments
Modern Project Management 1950 and Beyond • Project Portfolio Management • Harry Markowitz • Focus on highest return
Modern Project Management 1950 and Beyond • Project Portfolio Management • Harry Markowitz • Focus on highest return
Modern Project Management 1950 and Beyond • Project Portfolio Management • Harry Markowitz • Focus on highest return
Modern Project Management 1950 and Beyond • F. Warren McFarlan • Information technology project selection • Risk-based F. Warren McFarlan
Modern Project Management 1950 and Beyond • F. Warren McFarlan • Information technology project selection • Risk-based F. Warren McFarlan Completing the project right .vs. Doing the right project
Modern Project Management 1950 and Beyond • Refined costing estimating techniques. • “Guthrie Factors” - module estimating technique • American Association of Cost Engineers • Total Cost Management From AACE International’s “Total Cost Management Framework” published 2006.
Modern Project Management 1950 and Beyond • Refined costing estimating techniques • “Guthrie Factors” - module estimating technique • American Association of Cost Engineers • Total Cost Management From AACE International’s “Total Cost Management Framework” published 2006.
Modern Project Management 1950 and Beyond • Refined costing estimating techniques • “Guthrie Factors” - module estimating technique • American Association of Cost Engineers • Total Cost Management From AACE International’s “Total Cost Management Framework” published 2006.
Modern Project Management 1950 and Beyond • Refined costing estimating techniques • “Guthrie Factors” - module estimating technique • American Association of Cost Engineers • Total Cost Management From AACE International’s “Total Cost Management Framework” published 2006.
Modern Project Management 1950 and Beyond • Refined costing estimating techniques • “Guthrie Factors” - module estimating technique • American Association of Cost Engineers • Total Cost Management From AACE International’s “Total Cost Management Framework” published 2006.
Modern Project Management 1950 and Beyond From the Project Management Institute – www.pmi.org
Modern Project Management 1950 and Beyond • Five Founders of PMI J. Gordon Davis, PhD E. A. “Ned” Engman Susan Gallagher Eric Jenett James R. Snyder From the Project Management Institute – www.pmi.org
Modern Project Management 1950 and Beyond • Five Founders of PMI J. Gordon Davis, PhD E. A. “Ned” Engman Susan Gallagher Eric Jenett James R. Snyder From the Project Management Institute – www.pmi.org
Modern Project Management 1950 and Beyond • PM industry • Modern tools • Define project management • Wide spread application From the Project Management Institute – www.pmi.org
Modern Project Management 1950 and Beyond • PM industry • Modern tools • Define project management • Wide spread application From the Project Management Institute – www.pmi.org
Modern Project Management 1950 and Beyond • PM industry • Modern tools • Define project management • Wide spread application From the Project Management Institute – www.pmi.org
Modern Project Management 1950 and Beyond • PM industry • Modern tools • Define project management • Wide spread application From the Project Management Institute – www.pmi.org
Modern Project Management 1950 and Beyond • Rapid developments • IT industry • Globalization • Within scope, schedule and cost constraints
Modern Project Management 1950 and Beyond • Rapid developments • IT industry • Globalization • Within scope, schedule and cost constraints
Modern Project Management 1950 and Beyond • Rapid developments • IT industry • Globalization • Within scope, schedule and cost constraints Helped transform the field
Modern Project Management 1950 and Beyond • Rapid developments • IT industry • Globalization • Within scope, schedule and cost constraints How is your project management coming along? Helped transform the field
Today • Standardized techniques and processes • Management technique
Today • Standardized techniques and processes • Management technique
Evolution of Project Management Individual efforts Widespread acceptance
Evolution of Project Management Individual efforts New methods of charting data Widespread acceptance
Individual efforts New methods of charting data Optimization techniques Widespread acceptance Evolution of Project Management
Individual efforts New methods of charting data Optimization techniques Widespread acceptance Evolution of Project Management New method of management
Individual efforts New methods of charting data Optimization techniques Widespread acceptance Evolution of Project Management New method of management
Take Home Lesson Project Management is not what it used to be