Introduction to Project Management

Course Topics

  1. Introduction and Modern Project Management

  2. Organization Strategy and Project Selection

  3. Organization: Structure and Culture

  4. Project Scope Management

  5. Project Time Management

  6. Project Cost Management

  7. Risk Management

  8. Project Human Resource Management

  9. Project Communication Management

  10. Project Quality Management

  11. Project Audit and Closure

  12. Outsourcing

  13. Being a Project Manager

Course Logistics

Learning Management System

  • Platform: Blackboard

  • Functionality: Course materials and resources will be available on this platform.

Textbook Information

  • Title: Project Management, Eighth Edition

  • Authors: Erik W. Larson and Clifford F. Gray

Assessment Breakdown

  • Participation: 10% (Includes pop quizzes)

  • Individual Assignment: 10%

  • Group Assignment: 15% (Project)

  • Mid-term Exam: 30% (Covers Chapters 1 to 6)

  • Final Exam: 35% (Covers all chapters)

Key Terms and Definitions

Important Definitions

  • Portfolio Management:

    • Centralized management of one or more portfolios.

    • Involves identifying, prioritizing, authorizing, managing, and controlling projects, programs, and works to achieve strategic business objectives.

  • Program Management:

    • Centralized coordinated management aimed at achieving a program’s strategic objectives and benefits.

  • Project Management:

    • Application of knowledge, skills, tools, and techniques to meet project requirements.

Key Concepts in Project Management

  • What is a project?

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

    • Major Characteristics:

    • Established objective

    • Defined life span with a beginning and end

    • Requires cross-organizational participation

    • Involves doing something never done before

    • Specific time, cost, and performance requirements

  • Difference between Program and Project:

    • Project: A single course of action to complete a goal.

    • Program: A series of related projects aimed at achieving a collective goal.

    • Example:

    • Completing one course (Project) vs. completing all required courses for a major (Program).

Comparative Analysis

Routine Work vs. Projects

  • Routine Work Examples:

    • Taking class notes

    • Entering sales receipts daily

    • Responding to supply-chain requests

    • Practicing piano scales

    • Manufacturing iPods

  • Project Examples:

    • Writing a term paper

    • Setting up a sales kiosk

    • Developing a supply-chain system

    • Writing a new piano piece

    • Designing an iPod

    • GE’s wire-tag projects

Project Life Cycle

Stages of the Project Life Cycle

  1. Defining:

    • Establish Goals

  2. Planning:

    • Define schedules, budgets, tasks, and responsibilities

  3. Executing:

    • Status reports, changes, quality control, forecasts

  4. Closing:

    • Train customer, transfer documents, release resources, evaluation, lessons learned

Project Management Summary

  • Definition:

    • Project management comprises skills, tools, and management processes required to undertake a project successfully.

  • Components of Project Management:

    • Skills: Essential knowledge and experience to reduce risk

    • Tools: Includes document templates, planning software, and audit checklists

    • Processes: Monitoring and controlling time, cost, quality, and scope

Challenges in Project Management

  • Project managers manage temporary, non-repetitive activities and are often independent of the formal organization.

  • They marshal project resources and are linked directly to customer interfaces while providing direction and coordination for project teams.

  • Responsibilities include performance and success, ensuring the right decisions are made at the right time

Current Trends in Project Management

Drivers for Increased Project Management Use

  • Compression of product life cycles

  • Knowledge explosion

  • Triple bottom line focus: planet, people, profit

  • Corporate downsizing

  • Increased customer focus

  • Small projects can yield significant issues

Project Governance

Integrative Approach

  • Integration of project management provides senior management with:

    • Overview of project management activities

    • Insight into the use of organizational resources

    • Risk assessment of project portfolios

    • Comparison metrics regarding managing projects relative to industry benchmarks

Strategic Alignment in Project Management

Problems from Uncoordinated Systems

  • Projects not supporting the overall strategic goals

  • Independent managerial decisions leading to internal conflicts

  • Resource waste on non-value-add activities/projects

Portfolio Management Functions

Major Functions

  • Oversee project selection

  • Monitor resources and skills

  • Encourage best practice utilization

  • Balance risk level within project portfolios

  • Enhance stakeholder communication

  • Foster an organization-wide perspective beyond silo thinking

  • Improve overall project management practices over time

Dimensions of Project Management Process

  • Technical Dimensions:

    • Work Breakdown Structure (WBS), schedules, resource allocation, baseline budgets

  • Sociocultural Dimensions:

    • Leadership, problem-solving, teamwork, negotiation, politics, customer expectations