NEED A PERFECT PAPER? PLACE YOUR FIRST ORDER AND SAVE 15% USING COUPON:

Project Management Chapter One Modern Project Management © 2021 McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the cl

Project Management Chapter One

Modern Project Management

© 2021 McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the cl

Click here to Order a Custom answer to this Question from our writers. It’s fast and plagiarism-free.

Project Management Chapter One

Modern Project Management

© 2021 McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom.

No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.

Because learning changes everything.®

An Overview of Project Management 8th Ed

2

© McGraw-Hill Education

Learning Objectives

1-1 Understand why project management (PM) is crucial in

today’s world

1-2 Distinguish a project from routine operations

1-3 Identify the different stages of a project life cycle

1-4 Describe how Agile PM is different from traditional PM

1-5 Understand that managing projects involves balancing the

technical and sociocultural dimensions of the project

3

© McGraw-Hill Education

Chapter Outline

1.1 What Is a Project?

1.2 Current Drivers of Project Management

1.3 Agile Project Management

1.4 Project Management Today: A Socio-Technical Approach

4

© McGraw-Hill Education

Examples of Projects Given to Recent College Graduates

Business information: install new data security system

Physical education: develop a new fitness program for senior citizens

Marketing: execute a sales program for a new home air purifier

Industrial engineering: create a value chain report for every aspect of a key product from design to customer delivery

Chemistry: develop a quality control program for an organization’s drug production facilities

Management: implement a new store layout design

Pre-med neurology student: join a project team linking mind mapping to an imbedded prosthetic that will allow blind people to function normally

Sport communication: create a promotion plan for a women’s basketball project

Systems engineers: develop data mining software of medical papers and studies related to drug efficacy

Accounting: work on an audit of a major client

Public health: design a medical marijuana educational program

English: create a web-based user manual for a new electronics product

5

© McGraw-Hill Education

1.1 What Is a Project?

Project Defined (according to PMI)

A temporary endeavor undertaken to create a unique product, service, or result

Major Characteristics of a Project

Has an established objective

Has a defined life span with a beginning and an end

Involves several departments and professionals

Involves doing something never been done before

Has specific time, cost, and performance requirements

6

© McGraw-Hill Education

Program versus Project

Program Defined

A group of related projects designed to accomplish a common goal over an extended period of time

Program Management Defined

A process of managing a group of ongoing, interdependent, related projects in a coordinated way to achieve strategic objectives

Examples:

Project: completion of a required course in project management

Program: completion of all courses required for a business major

7

© McGraw-Hill Education

Comparison of Routine Work with Projects

Routine, Repetitive Work

Taking class notes

Daily entering sales receipts into the accounting ledger

Responding to a supply-chain request

Practicing scales on the piano

Routine manufacture of an Apple iPod

Attaching tags on a manufactured product

Projects

Writing a term paper

Setting up a sales kiosk for a professional accounting meeting

Developing a supply-chain information system

Writing a new piano piece

Designing an iPod that is approximately 2 X 4 inches, interfaces with PC, and stores 10,000 songs

Wire-tag projects for GE and Wal-Mart

8

TABLE 1.1

© McGraw-Hill Education

Project Life Cycle

9

FIGURE 1.1

© McGraw-Hill Education

The Challenge of Project Management

The Project Manager

Manages temporary, non-repetitive activities and frequently acts independently of the formal organization.

Marshals resources for the project.

Is the direct link to the customer.

Works with a diverse troupe of characters.

Provides direction, coordination, and integration to the project team.

Is responsible for performance and success of the project.

Must induce the right people at the right time to address the right issues and make the right decisions.

10

© McGraw-Hill Education

1.2 Current Drivers of Project Management

Factors leading to the increased use of project management:

Compression of the product life cycle

Knowledge explosion

Triple bottom line (planet, people, profit)

Increased customer focus

Small projects represent big problems

11

© McGraw-Hill Education

1.3 Agile Project Management

Agile Project Management (Agile PM)

Is a methodology emerged out of frustration with using traditional project management processes to develop software.

Is now being used across industries to manage projects with high levels of uncertainty.

Employs an incremental, iterative process sometimes referred to as a ‘rolling wave’ approach to complete projects.

Focuses on active collaboration between the project and customer representatives, breaking projects into small functional pieces, and adapting to changing requirements.

Is often used up front in the defining phase to establish specifications and requirements, and then traditional methods are used to plan, execute, and close the project.

Works best in small teams of four to eight members.

12

© McGraw-Hill Education

Rolling Wave Development

13

FIGURE 1.3

Iterations typically last from one to four weeks.

The goal of each iteration is to make tangible progress such as define a key requirement, solve a technical problem, or create desired features to demonstrate to the customer.

At the end of each iteration, progress is reviewed, adjustments are made, and a different iterative cycle begins.

Each new iteration subsumes the work of the previous iterations until the project is completed and the customer is satisfied.

© McGraw-Hill Education

1.4 Project Management Today: A Socio-Technical Approach

The Technical Dimension (The “Science”)

Consists of the formal, disciplined, purely logical parts of the process.

Includes planning, scheduling, and controlling projects.

The Sociocultural Dimension (The “Art”)

Involves the contradictory and paradoxical world of implementation.

Centers on creating a temporary social system within a larger organizational environment that combines the talents of a divergent set of professionals working to complete the project.

14

© McGraw-Hill Education

A Socio-Technical Approach to Project Management

15

FIGURE 1.4

© McGraw-Hill Education

Text Overview

Chapter 2 focuses on how organizations go about evaluating and selecting projects.

Chapter 3 discusses matrix management and other organization forms and also discusses the significant role that culture of an organization plays in the implementation of projects.

Chapter 4 deals with defining the scope of the project and developing a work breakdown structure (WBS).

Chapter 5 explores the challenge of formulating cost and time estimates.

Chapter 6 focuses on utilizing the information from the WBS to create a project plan in the form of a timed and sequenced network of activities.

16

© McGraw-Hill Education

Text Overview (Continued)

Chapter 7 examines how organizations and managers identify and manage risks associated with project work.

Chapter 8 explores resource allocation and how resource limitations impact the project schedule.

Chapter 9 examines strategies for reducing project time either prior to the initiation of the project or in response to problems or new demands placed on the project.

Chapter 10 focuses on the role of the project manager as a leader and stresses the importance of managing project stakeholders within the organization.

Chapter 11 focuses on the core project team and combines the latest information on team dynamics with leadership skills/techniques of developing a high-performance project team.

17

© McGraw-Hill Education

Text Overview (Continued)

Chapter 12 discusses how to outsource project work and negotiates with contractors, customers, and suppliers.

Chapter 13 focuses on the kinds of information managers use to monitor project progress and discusses the key concept of earned value

Chapter 14 covers closing out a project and the important assessment of performance and lessons learned.

Chapter 15 discusses agile project management, a much more flexible approach to managing projects with high degree of uncertainty.

Chapter 16 focuses on working on projects across cultures.

18

© McGraw-Hill Education

Key Terms

Agile project management (Agile PM)

Program

Project

Project life cycle

Project Management Professional (PMP)

19

© McGraw-Hill Education

© 2021 McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom.

No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.

Because learning changes everything.®

www.mheducation.com

Place your order now for a similar assignment and have exceptional work written by one of our experts, guaranteeing you an A result.

Need an Essay Written?

This sample is available to anyone. If you want a unique paper order it from one of our professional writers.

Get help with your academic paper right away

Quality & Timely Delivery

Free Editing & Plagiarism Check

Security, Privacy & Confidentiality