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Introduction to Project Management: Definitions, History, and Importance

This chapter provides an overview of project management, including definitions, historical background, and the importance of project management in modern organizations. It covers the project management life cycle, major characteristics of projects, and the role of the project manager.

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Introduction to Project Management: Definitions, History, and Importance

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Presentation Transcript

  1. Chapter 1 The World of Projects

  2. Project Management • Project Management; the entire process of managing “Projects” from initiation to termination and evaluation • Project; definition • Generic Definition; Project is an Intervention that AddressesComplex Problem(s) or/and Capitalizes on Sizable Opportunity(ies)

  3. Project Definitions; • Organizational Perspective; Project is an Organization specifically designed to achieve certain objectives over a period of time • Activities Perspective;Project is a Cluster/set of activities carried out to accomplish pre-determined objectives over an estimated time period

  4. Project Definitions; (continued) • Pure Corporate Sector View; Project is a temporary Endeavour to create/develop a unique product or service (Project Management Institute; PMI…2004) • Public Sector Emphasis; Project is an entity/investment that brings about change in the Socio-Economic development profile/level of a country, region or an area over a period of time

  5. Project Management • Project is an Investment Decision; in terms of Time and Resources to be committed by the organization • What is Decision-Making? • What is ABC of Decision-Making? • Decisions on Problems or/and Opportunities

  6. Project Management • Organizational Resources; 7 M • Resource Usage should be in accordance with 5 Es • You have to Synchronize 7Ms with 5Es • POSDCoRBE • Project Life Cycle follows POSDCoRBE

  7. Project Management Life Cycle • The Project Management Life Cycle has five distinct phases:- • (1) Identification & Formulation; • (2) Appraisal & Approval; • (3) Implementation; • (4) Completion/Closure; and Evaluation • (5) Ex-post Evaluation.

  8. Project Management History • Much of project management was developed by the military; For instance • Strategic defense initiatives; like Polaris Submarine in US • Nuclear Explosion and Missile Technology in Pakistan • Project management has found wide acceptance around the world in governments, industry, NGOs • It has many applications outside of construction • Managing Complicated cases/situations/Problems • Managing new product releases/Capitalizing on Opportunities/even conducting Market Research in the form of a project

  9. Why Project Management??? • Main forces in driving the acceptance of project and other forms of management: • The exponential growth of human knowledge • The 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 • Project management is one way to do more faster

  10. Projects Tend to be Large • Projects tend to be large • Tarbela Dam/Mangla Dam • Islamabad International Airport • Construction of Universities etc • Social Action Program • Projects are getting larger over time • Flying: balloons  planes  jets  rockets  reusable rockets • The more we can do, the more we try to do

  11. Project Management Also Getting Smaller • More people are seeing the advantages of project management techniques • The tools are cheaper • The techniques are becoming more widely taught and written about

  12. Main Goals of Project Management • Time • Cost • Performance • Time, cost, and performance are all related on a project

  13. Direct Project Goals: Performance, Cost, Time Figure 1-1

  14. Project Management Institute (PMI) • The Project Management Institute is the major project management organization • Founded in 1969 • Grew from 7,500 members in 1990 to over 260,000 in 2007 • The Project Management Journal and PM Network are the leading project management journals

  15. Project Manager • Project manager is the key individual on a project • Project manager is like a mini-CEO • While project manager always has responsibility, may not have necessary authority

  16. Trends in Project Management • Achieving strategic goals • Achieving routine goals • Improving project effectiveness • Virtual projects • Quasi-projects

  17. PROJECT TYPES NATUREOBJECTIVES • ECONOMIC/INCOME ECONOMIC EARNINGS GENERATING (Industries etc.)  • SOCIO-ECONOMIC SOCIO-ECONOMIC BENEFITS / OUTPUT (Projects in Health/Education Sectors etc) • SOCIAL SOCIAL BENEFITS (Ladies Club etc.) • PHILANTHROPIC SOCIAL BENEVOLENCE (Orphanage, Beggars Home, Rehabilitation Centres etc.)

  18. Recent Changes in Managing Organizations • Consensual management • Systems approach • Projects as preferred way to accomplish goals

  19. The begining of a “Project” • Modern project management began with the Manhattan Project • In the early days, project management was used mainly for very complex projects • As the tools became better understood, they began to “trickle down” to smaller projects • It has also moved out of just manufacturing to services

  20. Major Characteristics of a Project • Importance • Performance • Life cycle with a finite due date • Interdependencies • Uniqueness • Resources • Conflict

  21. Why Project Management? • The main purpose for initiating a project is to accomplish some goal • Project management increases the likelihood of accomplishing that goal • Project management gives us someone (the project manager) to spearhead the project and to hold accountable for its completion

  22. Negative Side to Project Management • Greater organizational complexity • Higher probability organizational policy will be violated • Says managers cannot accomplish the desired outcome • Conflict

  23. The Project Life Cycle Figure 1-3

  24. Time Distribution of Project Effort Figure 1-4

  25. Another Possible Project Life Cycle Figure 1-5

  26. Risk During at the Start of the Life Cycle Figure 1-6

  27. Risk During the Life Cycle Figure 1-7

  28. The Structure of this Text • Follows the project life cycle • Some topics stand-alone • Other topics incorporated throughout

  29. Part I: Project Initiation • Projects in Contemporary Organizations • Strategic Management and Project Selection • The Project Manager • Negotiation and the Management of Conflict • The Project in the Organizational Structure

  30. Part II: Project Planning • Project Activity Planning • Budgeting and Cost Estimation • Scheduling • Resource Allocation

  31. Part III: Project Execution • Monitoring and Information Systems • Project Control • Project Auditing • Project Termination

  32. Thank You

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