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What is a project?
A project is a temporary endeavor undertaken to achieve a particular aim. Every project has a definite beginning and a definite end. While projects are similar to operations in that both are performed by people, both are generally constrained by limited resources, and both are planned, executed and controlled, projects differ from operations in that operations are ongoing and repetitive while projects are temporary and unique.
Projects are created at all levels of an organization. They may involve a single person or thousands. Their time spans vary greatly. They may involve a single department of one-organization or cross-organizational boundaries. Project management can be applied to any project regardless of size, budget or time lines Some examples are: - Developing a new product - Designing a new vehicle - Running a political campaign - Building a bridge - Sending a probe to mars - Setting up an e-commerce internet site
What is Project Management?
Project management is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of the particular project. Project management knowledge and practices are best described in terms of their component process. These processes can be placed into five process groups- Initiating, Planning, Executing, Controlling and Closing-- and nine Knowledge areas----Project Integration Management, Project Scope Management, Project Time Management, Project Cost Management, Project Quality Management, Project Human Resources Management, Project Communication Management, Project Risk Management, and Project Procurement Management.
The project team manages the work of the project, and the work typically involves: · Balancing competing demands for: project scope, time, cost, risk and quality · Satisfying stakeholders with differing needs and expectations · Meeting identified requirements The term "project management" is sometimes used to describe an organizational approach to the management of ongoing operations. This approach treats aspects of ongoing operations as projects in order to apply project management techniques to them.
Project management focuses critical attention on the independent nature of complex task- an action, or failure to take action, in one area will usually affect other areas. Project management helps organizations meet their customers' need by standardizing routine tasks and reducing the number of tasks that could potentially be forgotten. Project management provides senior executives insights into "what is happening" and "where things are going" within their organizations. The application of project management principles enables senior executives to: - Establish measure of success - Enable customer focus and alignment - Quantify value commensurate with cost - Optimize the use of organizational resources - Incorporate quality principles - Put strategic plans into place - Ensure fast time-to-market
Modern project management began in the late 1950s and early 1960s when the size, scope, duration and resources required for new projects began to demand more than a flow chart and a conference table. At the same time, literature on the subject of "management by project" began to emerge. The phrase "project management" crept into the vernacular, although it was mostly limited to the engineering and construction industries. Today, project management is used globally by multi-billion-dollar corporations, governments and small non-profit organizations alike.
Project management leadership is a highly sought after skill as global competition demands that new projects and business development be completed on time and within budget. Professionals working in project management will drive the successful development of exciting new business enterprises in the 21st century.
About The Instructor
Jim L. White is the founder and CEO of J L White International, Inc. a management consulting and leadership development organization. He has over twenty-five years of international business experience. Mr. White has achieved international recognition as an expert on leadership in business with his works as Managing Director of ACEC Centrifugal Pumps NV, Belgium, CEO of Blount World Trade Corporation and Vice President and Division Manager with Ingersoll Rand Equipment Corporation. He is a sought after speaker and workshop leader and is dedicated to “Inspiring Excellence in People”.
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