Presentation on theme: "1 WHAT IS A PROJECT? Key Concepts: Definition of a Project Characteristics of a Project."— Presentation transcript:
1 WHAT IS A PROJECT? Key Concepts: Definition of a Project Characteristics of a Project
2 What Is a Project? A project is “a temporary endeavor undertaken to create a unique product, service, or result.”* Operations is work done to sustain the business. A project ends when its objectives have been reached, or the project has been terminated. Projects can be large or small and take a short or long time to complete. *PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (2004), p. 5.
3 PMI Definition “A temporary endeavor undertaken to create a unique product or service” Source: A Guide to the Project Management Body of Knowledge, Project Management Institute Standards Committee, p. 167, 1996
4 What is Project Management? “Project management is the application of knowledge, skills, tools and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project.” * * Project Management Institute, PMBOK 2000
5 What is Project Management? Application of Knowledge/Skills/ and Tools/Techniques to Project Activities Meet/Exceed Expectations
7 Project Management Tools and Techniques Project management tools and techniques assist project managers and their teams in various aspects of project management. Specific tools and techniques include: –Project charters, scope statements, and WBS (scope). –Gantt charts, network diagrams, critical path analyses, critical chain scheduling (time). –Cost estimates and earned value management (cost).
8 PM Development Goals According to specification (Scope) Schedule (Time) Within Budget (Cost)
9 Why the emphasis on project management? Many tasks do not fit neatly into business-as-usual. Need to assign responsibility and authority for achievement of organisational goals.
10 Characteristics of Projects Unique Specific Deliverable Specific Due Date
11 Other Common Characteristics of Projects Multidisciplinary Complex Conflict Part of Programs
12 PROJECT MANAGEMENT VS. GENERAL MANAGEMENT Projects Unique Finite Revolutionary charge Unbalanced objectives Transient resources Operations Repetitive on going Evolutionary change Equilibrium Balanced objectives Stable resources
13 Examples of a Project A project can be of any type; Opening a restaurant Constructing a building Launching a new product
14 Skill Requirements for Effective Project Management Conflict Resolution Creativity and Flexibility Ability to Adjust to Change Good Planning Negotiation –win-win versus win-lose
15 WHAT IS MANAGED? THE THREE GOALS OF A PROJECT Performance Cost Time
16 Performance, Cost, and Time Project Targets
17 The Triple Constraint of Project Management
18 How do these work? You are thinking about planning a holiday abroad as a project. How would you define: Performance Cost Time?
19 THE LIFE CYCLES OF PROJECTS Start Activity Finish