PowerPoint PresentationSlide 2Slide 3DefinitionPMI DefinitionWhy the emphasis on project management?Growth in PMP CertificationCharacteristics of ProjectsOther Common Characteristics of ProjectsSlide 10Slide 11Slide 12Slide 13Slide 14PROJECT MANAGEMENT VS. GENERAL MANAGEMENTSkill Requirements for Effective Project ManagementKey Elements of NegotiationsSlide 18Rules For Negotiating TeamsSlide 20WHAT IS MANAGED? THE THREE GOALS OF A PROJECTThe Iron TrianglePerformance, Cost, and Time Project TargetsTo Put A Man On The MoonThe Three Constraints AreOld JokeSlide 27Slide 28THE LIFE CYCLES OF PROJECTSThe Project Life CycleAn Alternate Project Life CycleConfronting Uncertainty – The Management of RiskWhat uncertainties are encountered in project management?Can uncertainty surrounding projects ever be eliminated?SELECTING PROJECTSNonnumeric Selection MethodsNumeric Selection MethodsSlide 38Slide 39Slide 40THE PROJECT PORTFOLIO PROCESSThe Project Portfolio ProcessThe Aggregate Project PlanFigure 1-12 An Example Aggregate Project Plan1-1The World of Project Management1-21-3WHAT IS A PROJECT?DefinitionProject –a series of jobs usually directed toward some major output and requiring a significant period of time to perform1-5PMI Definition“A temporary endeavor undertaken to create a unique product or service”Project Management Institute, 20001-6Why the emphasis on project management?Many tasks do not fit neatly into business-as-usual.Need to assign responsibility and authority for achievement of organizational goals.Need to succeed and prosper!Growth in PMP Certification1-71-8Characteristics of ProjectsUnique Specific DeliverableSpecific Due Date1-9Other Common Characteristics of ProjectsMultidisciplinaryConflictComplexPart of Programs1-101. Lack of Project Manager Authority“I must be a mushroom. They keep me in the dark, feed me manure, and then they can me.” 2. Lack of team participation“If workers were smart, they’d be managers. Why ask them anything? After all, I’m the boss.” 3. Bad reporting“Reports are just useless paperwork and an irrelevant management requirement. I fill out the form and then forget the form.”Why Some Projects Fail………Five Reasons for Failure1-11Why Some Projects Fail………Continued4. Lack of people skills“I don’t thank people just for doing a good job. Doing a good job is what they get paid for.”5. Unrealistic goals and schedules“Your mission, should you decide to accept it…if caught or killed, the Secretary will disavow any knowledge…”1-12…..and Others SucceedThree Reasons for Success1. Committed teamwork“If anything goes bad, I did it. If anything goes semi-good, then we did it. If anything goes real good, then you did it. That’s all it takes to get people to win football games.”– Paul “Bear” Bryant2. SMART Goals With Real Consensus“Specific, Measurable, Agreed-Upon, Realistic, and Time-Specific.”3. Use of project management tools as a means, not an end.“We have 562 pages of charts and graphs and still don’t have a clue!”1-13Business FailuresThe construction industry is the largest single employer of the United States work force, it makes a major contribution to the gross national product, and yet suffers one of the highest annual business failure rates in the country. Studies have shown that the number of failures in the construction industry is much higher than it should be. The reason for the high failure rate is not because owners of companies do not have the technical skills required for construction but because owners have not developed adequate business management skills or techniques.---- in particular; communication skills.1-14Most business failures occur within the first three years of operation with the major reason being a lack of planning. Some of the other reasons which lead to business failure are:• Insufficient working capital• Failure to qualify for loans• Excessive growth• Borrowing money from relatives and friends• Company officers taking a too large of a salary• Purchase or lease of expensive vehicles as status symbols• Not keeping adequate accounting records• Poor project estimating as a result of:a. not knowing the cost of materialb. under estimating labor costsc. not understanding overhead or general conditionsd. inadequate profit margins• Loss of owner or key person• Too many projects starting at the same time1-15PROJECT MANAGEMENT VS. GENERAL MANAGEMENT1-16Skill Requirements for Effective Project ManagementConflict ResolutionCreativity and FlexibilityAbility to Adjust to ChangeGood PlanningNegotiation–win-win versus win-lose1-17Key Elements of NegotiationsEach party in the negotiation must believe they have achieved. In other words, both must feel they are or were successful.Do not forget the other party is a human being and needs to feel the other side cares.Fairness is essential to success. Both you and your opponent must perceive that you were treated fairly. (You will know whether you were fair in your treatment of the other person.)A deal is a deal! You need to honor your side of the agreement and the other side must honor theirs.The essence of negotiations is to do business again. Both parties must win.1-18Universal TruthsThe sum and substance or so-called “Universal Truths of Negotiations” are as follows:• Everything is negotiable,• We negotiate continually,• The process is predictable,• Information is crucial to success, and• Time constraints affect the outcome.1-19Rules For Negotiating TeamsWhen you are negotiating with two people;Sit where you can watch both.When you have two people on your team;Sit apart so you “speak with two voices.”When you have a large group opposing their small group;Keep your group together for the appearance of power.When they have a large group opposing your small group;Intermingle to diffuse their power.1-201. Stippling (strumming) of the fingers2. Scratching of the head3. Tugging or touching ones ear(s)4. Hand on back of neck5. Finger under the collar6. Fiddling with eyeglasses7. Object in mouth8. Eyeglasses removed and set on table9. Eyes blinking rapidly10. Head tilted forwarded, knuckles under chin11. Head held straight in heel of hand12. Person unbuttons jacketNonverbal CommunicationsWhat do the following actions convey?1-21WHAT IS MANAGED? THE THREE GOALS OF A PROJECTThe Iron