Project Management Essay

Submitted By Shanmukha-Ramayanam
Words: 1428
Pages: 6
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Project managers work with project sponsors, the project team, and other people involved in a project to meet project goals
Program: group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually (PMBOK®Guide, Fourth Edition, 2008, p. 9)
Program managers oversee programs; often act as bosses for project managers
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Project management is“the application of knowledge, skills, tools and techniques to project activities to meet project requirements” (PMBOK®Guide, Fourth Edition, 2008, p. 6)
Project managers strive to meet the triple constraint by balancing project scope, time, and cost goals
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Successful project management means meeting all three goals (scope, time, and cost) –and satisfying the project’s sponsor!
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Scope:
What work will be done as part of the project?
What unique product, service, or result does the customer or sponsor expect from the project?
How will the scope be verified?
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Time:
How long should it take to complete the project?
What is the project’s schedule?
How will the team track actual schedule performance?
Who can approve changes to the schedule?
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Cost:
What should it cost to complete the project?
What is the project’s budget?
How will costs be tracked?
Who can authorize changes to the budget?
Better control of financial, physical, and human resources
Improved customer relations
Shorter development times
Lower costs
Higher quality and increased reliability
Higher profit margins
Improved productivity
Better internal coordination
Higher worker morale
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Stakeholders are the people involved in or affected by project activities
Stakeholders include:
◦The project sponsor
◦The project manager
◦The project team
◦Support staff
◦Customers
◦Users
◦Suppliers
◦Opponents to the project
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Knowledge areas describe the key competencies that project managers must develop
◦4coreknowledge areas lead to specific project objectives (scope, time, cost, and quality)
◦4facilitatingknowledge areas are the means through which the project objectives are achieved (human resources, communication, risk, and procurement management
◦1knowledge area (project integration management) affects and is affected by all of the other knowledge areas
◦All knowledge areas are important!
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◦Software for task scheduling (such as project management software)
◦Scope statements
◦Requirements analyses
◦Lessons-learned reports
◦Progress reports
◦Kick-off meetings
◦Gantt charts
◦Change requests
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What Went Right? Improved Project Performance
The Standish Group’s CHAOS studies show improvements in IT projects in the past decade:
The number of successful IT projects has more than doubled, from 16 percent in 1994 to 35 percent in 2006
The number of failed projects decreased from 31 percent in 1994 to 19 percent in 2006
The United States spent more money on IT projects in 2006 than 1994 ($346 billion and $250 billion, respectively), but the amount of money wasted on challenged and failed projects was down to $53 billion in 2006 compared to $140 billion in 1994
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"The reasons for the increase in successful projects vary. First, the average cost of a project has been more than cut in half. Better tools have been created to monitor and control progress and better skilled project managers with better management processesare being used. The fact that there are processes is significant in itself.”*
*Standish Group, "CHAOS 2001: A Recipe for Success" (2001).
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There are several ways to define project success:
◦The project met scope, time, and cost goals
◦The project satisfied the customer/sponsor
◦The results of the project met its main objective, such as making or saving a certain amount of money, providing a good return on investment, or simply making the sponsors happy
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1. Executive support
2. User involvement
3. Experienced project manager 4. Clear business
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