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Modern Project Management: The Key to Successful Endeavors

Explore the importance and characteristics of project management in today's evolving business landscape, where innovation and customer satisfaction are paramount. Discover how project management drives new product development and fuels the success of various industries.

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Modern Project Management: The Key to Successful Endeavors

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  1. Chapter 1 Modern Project Management

  2. Modern Project Management All of mankind’s greatest accomplishments – from building the great pyramids to discovering a cure for polio to putting a man on the moon – began as a project.

  3. What do the following headlines have in common? • Superbowl half-time show scores a touchdown • Apple’s new Ipad mini to hit the market • City receives stimulus finds to expand light rail system • MN Approves new stadium

  4. What is a project? • A project is a temporary endeavor undertaken to create a unique product, service, or result • The major goal of a business project is to satisfy the customer’s need.

  5. Characteristics of a project • An established objective • A defined life span with a beginning and an end • Usually, involvement with several departments • Typically, doing something that has never been done before • Specific time, cost, and performance requirements

  6. The Project Life Cycle

  7. Importance of Project Management • Compression of the Product Life Cycle • 30 years ago, products would last 10-15 years • Now, most last 1-3 years.

  8. Business Thrive on New Project Development • What companies can you think about depend on new product innovation? • What other companies rely on new projects? • New Stadiums? • Electric Cars? • Renewable Energy? • Movie Franchises? How important was the 2nd Hunger Games?

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