Slide 1What is a project?Characteristics of a projectCharacteristics of a project (cont’d)Characteristics of a project (cont’d)Examples of ProjectsWhy Project Management?Main Project ObjectivesThe Project ManagerWhat it takes to be a good PMIn place of conclusion…1BA 341 – Lean OperationsDr. Bogdan BichescuIntroduction to Project ManagementWhat is a project? A project is…a temporary endeavor undertaken to create a unique product or service. Project Management Body of Knowledge (PMBOK)Characteristics of a projectPurpose – a one time activity with well- defined desired end results__________ – has a definite beginning and a definite end, hence a finite durationLife Cycle - projects evolve in steps from a slow beginning they progress to a build-up of size, then peak, begin a decline and then must be terminatedTemporaryCharacteristics of a project (cont’d)Interdependencies – projects can interact with other projects within the same parent organization and most typically, with the functional departments (marketing, finance, manufacturing, etc) of the firm;How are projects organized?As part of the functional organizationMatrix organizationPure ProjectCharacteristics of a project (cont’d)____________ – every project has elements that make it unique – e.g. an office building has different owners, design, location, contractors, etc.;________ – projects vs. functional dept. and project vs. project with respect to resources and personnel;UniquenessConflictExamples of ProjectsVW launches a new PassatApple launches iOS 10Construction of Haslam Business BuildingDisney (Lucasfilm) produces “Star Wars – The Force Awakens”Pfizer launches SudafedWhy Project Management?Exponential expansion of knowledgeGrowing demand for complex, customized goods and servicesGlobalization of worldwide marketsEver expanding size of projectsMain Project ObjectivesPerformance (scope) refers to the outcomes, deliverables of the project and compares them against project specifications and stakeholders’ expectations; CostTimeThe Project ManagerResponsible toThe parent organization________The project teamMajor challenges Selecting and motivating the personnelDealing with obstacles________________________Communicating with all partiesDealing with project risks and potential failure The clientMaking project goal trade-offsWhat it takes to be a good PMStrong technical and managerial background Credibility_________________________Excellent organizational (planning, goal-setting) skillsNegotiator and team-builder______________________Ability to handle pressureExcellent communication skillsSensitive to political issuesIn place of conclusion…MethodologyScheduleRequirementsCostCustomer ExpectationsBusinessObjectivesRiskRiskThe ProjectConstantly balancing customer expectations and achievement of internal business objectives, while simultaneously delivering within the triple constraintThe Role of Project Management consists of
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