Project Management: A Managerial Approach 5 th Ed. PowerPoint Presentation for: J.R. Meredith and S.J. Mantel, Jr. © 2003 John Wiley & Sons, Inc. All Rights.

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Project Management: A Managerial Approach 5 th Ed. PowerPoint Presentation for: J.R. Meredith and S.J. Mantel, Jr. © 2003 John Wiley & Sons, Inc. All Rights Reserved

Ch.1: Projects in Contemporary Organizations What is a “project” Why project management? The project life cycle (PLC) Structure of rest of text

Ch. 1.0 Introduction: Project Management Drivers Expansion of knowledge Demand for new products Worldwide markets Competition Belief “better living though technology” Expanding size of projects

Ch.1.0 Introduction: Three Project Objectives Performance Cost Time

Ch 1.0: Introduction: The “professional” PM PMI Membership 1990: 7,500 members 2001: 86,000 members

Ch 1.0: Introduction: Recent Managing Changes Less hierarchical Systems approach Project oriented

Ch 1.1 Project Definition Definition used by PMI: A temporary endeavor undertaken to create a unique product or service

Ch 1.1 Terminology Program (group of projects) Project Task (subset of work elements) Work package (sub element of task) Work unit

Ch 1.1 Project Attributes Purpose Life cycle Interdependencies Uniqueness Conflict

Ch 1.2: Why Project Management? Plus Minus Responsive to client and environment Fast problem resolution Quick decision making No sub optimization Organizational complexity Policy violations Lower personnel utilization

Ch 1.3 Project Life Cycle: (% Completion) Vs. (Time) Slow start Quick momentum Slow finish

Ch 1.3: Project Life Cycle: Time Distribution of Project Effort Conception Selection Planning, scheduling, monitoring, control Evolution and termination

Ch 1.3: Project Life Cycle: Increasing Marginal Returns Return as applied to late stages in PLC Compare to “standard” PLC showing DECREASING marginal return in late stages of PLC

Ch 1.3: Project Life Cycle: Reduce Uncertainty of Cost Estimate Figure 1.6

Ch 1.4: Structure of Text I: InitiationII: ImplementationIII: Termination Strategic MgmtBudgetingEvolution Project Manager SchedulingForm / Style OrganizationResource Allocation PlanningMonitoring NegotiatingControl Processes

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