Presentation on theme: "Key Concepts: Definition of a Project Characteristics of a Project"— Presentation transcript:
1 Key Concepts: Definition of a Project Characteristics of a Project WHAT IS A PROJECT?Key Concepts:Definition of a ProjectCharacteristics 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 ActivitiesMeet/Exceed Expectations
6 Project Attributes? Temporary, with unique purpose Goal-directed CollaborativeResources constrainedEndeavorUncertainty
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 UniqueSpecific DeliverableSpecific Due Date
11 Other Common Characteristics of Projects MultidisciplinaryComplexConflictPart of Programs
12 PROJECT MANAGEMENT VS. GENERAL MANAGEMENT ProjectsUniqueFiniteRevolutionary chargeUnbalanced objectivesTransient resourcesOperationsRepetitive on goingEvolutionary changeEquilibriumBalanced objectivesStable resources
13 Examples of a Project A project can be of any type; Opening a restaurantConstructing a buildingLaunching a new product
14 Skill Requirements for Effective Project Management Conflict ResolutionCreativity and FlexibilityAbility to Adjust to ChangeGood PlanningNegotiationwin-win versus win-lose
15 WHAT IS MANAGED? THE THREE GOALS OF A PROJECT PerformanceCostTime