Project Management Essay

What is a Project?

….A project is more than just a ‘funky’ project name

News flash

What is a Project?
 “A project is usually a one-time activity with a well-defined

set of desired end results…complex enough that the subtasks require careful coordination and control in terms of timing, precedence, cost and performance.”
Project Management: A Managerial Approach, Jack R. Meredith and Samuel J. Mantel, Jr. 1995

 The assignment of resources to accomplish specific results

(deliverables) with a well-defined schedule and budget.
Accenture (1999)

 “something that is contemplated, devised, or planned; a

plan; a scheme; an undertaking”
The Macquarie Concise Dictionary, Third Edition (1998)

What is a Project?
 A project is a temporary endeavour undertaken to create a

unique product or service:

 Temporary means that every project has a definite beginning

and a definite end.
 Unique means that the product or service is different in some distinguishing way from all similar products or services.

 Distinguish between projects and operations:
 operations are ongoing and repetitive
 projects are temporary and unique
 Projects are usually performed by teams:
 clearly defined team and individual roles
 open and effective communications
 visible rewards for good performance, pressure to improve poor performance

What is a Project?
 Examples of projects include, but are not limited to:
 Developing a new product or service,
 Effecting a change in the structure, staffing, or style of an organization,
 Developing or acquiring a new or modified information system,  Constructing a building or infrastructure, or
 Implementing a new business process or procedure.
)

Project Characteristics
 A Project…
 Has specific objectives
 Has a start and end date
 Has a budget
 Has an ‘owner’/’sponsor’
 Produces specific deliverables
 Can vary vastly in size, complexity and duration
 May be a phase within a larger project or a phase within a program

What is Project Management?
Definition of Project Management:
 “Project Management is the act of directing and coordinating human and material resources throughout the life of a project to achieve predetermined objectives of
 Scope
 Quality

 Effort
 Risk
 Time

Costs of Poor Project Management
 31% of all new software

development projects are cancelled before completion  53% of projects cost >189% of original estimates
 16.2% of software projects completed on time and on budget  Average overrun is 222% of original estimates
Source: Standish Group, 1995

 A survey on overall

applications development projects revealed:
 46% of IT projects were

"challenged" (completed over budget and past the original deadline).
 6% of projects succeeded.
 28% of projects failed.
Source:Standish Group, 1998

Operations and Projects
 Operations and projects share many characteristics:
 Performed by people.
 Constrained by limited resources.
 Planned, executed, and controlled.
 Operations may include activities such as:
 Financial management and control
 Continuous manufacture
 Product distribution
 Projects may include activities such as:
 Developing a new product or service.
 Effecting a change in structure, staffing, or style of an organization.
 Developing or acquiring a new or modified information system.

Projects are Temporary
 Temporary means that every project has a definite

beginning and a definite end.
 The end is reached:
 When the project’s objectives have been achieved, or
 When it becomes clear that the project objectives will not or cannot be met and the project is terminated.

 Temporary does not necessarily mean short in

duration:
 many projects last for several years.

 The duration of a project is finite:
 projects are not ongoing efforts.

The Product of a Project is Unique
 A product or

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