Collaborative Project Management MIS 44152 Chapter 1 Modern Project Management Outline What is a Project o Project defined o Major characteristics of a project o What a project is not o Project vs Program Table 1 1 Comparison of Routine Work with Projects page 6 o The Project Life Cycle defined o The Four Stages of the Project Life Cycle Figure 1 1 Project Life Cycle Page 7 o The Project Manager The Importance of Project Management o Compression of the Product Life Cycle o Knowledge Explosion o Triple Bottom Line planet people profit o Corporate Downsizing o Increased Customer Focus o Small Projects Represent Big Problems Project Management Today An Integrative Approach o The rationale for integration o Integration of Projects with Organizational Strategy Figure 1 2 Integrated Management of Projects o Integration of Projects through Portfolio Management The major functions of portfolio management o Integration of the Processes of Implementing Actual Projects projects Two dimensions within the actual execution of Figure 1 3 The Technical and Sociocultural Dimensions of the Project Management Process SUMMARY OF CHAPTER 1 PAGE 16 Snapshot from Practice Project Management in Action 2009 Page 8 Snapshot from Practice Dell Children s Becomes World s First Green Hospital Research Highlight Works Well With Others Page 12 Page 17 Collaborative Project Management MIS 44152 Chapter 1 Modern Project Management Important Terms and Definitions Project a temporary endeavor undertaken to create a unique product or service Major characteristics of a project 1 An established objective 2 A defined life span with a beginning and end 3 Usually the involvement of several departments and professionals 4 Typically doing something that has never been done before 5 Specific time cost and performance requirements Program a group of related projects designed to accomplish a common goal over an extended period of time Project life cycle The stages found in all projects 1 Defining stage Specifications of the project are defined project objectives are established teams are formed major responsibilities are assigned 2 Planning stage The level of effort increases and plans are developed to deter mine what the project will entail when it will be scheduled whom it will benefit what quality level should be maintained and what the budget will be 3 Executing stage A major portion of the project work takes place both physical and mental The physical product is produced a bridge a report a software program Time cost and specification measures are used for control Is the project on schedule on budget and meeting specifications What are the forecasts of each of these measures What revisions changes are necessary 4 Closing stage Closing includes three activities delivering the project product to the customer redeploying project resources and post project review Delivery of the project might include customer training and transferring documents Redeployment usually involves releasing project equipment materials to other projects and finding new assignments for team members Post project reviews include not only assessing performance but also capturing lessons learned The rationale for integration of project management was to provide senior management with An overview of all project management activities A big picture of how organizational resources are being used An assessment of the risk their portfolio of projects represents A rough metric for measuring the improvement of management projects relative to others in the industry Linkages of senior management with actual project execution management Collaborative Project Management MIS 44152 Chapter 1 Modern Project Management Tables Figures Table 1 1 Comparison of Routine Work with Projects Figure 1 1 Project Life Cycle Figure 1 2 Integrated Management of Projects Figure 1 3 The Technical and Sociocultural Dimensions of the Project Management Process