Lecture 01 Flashcards
What is a project ?
- temporary endeavour undertaken to create a unique product, service or result
- temporary nature indicates a beginning and an end to the project work
- Projects can stand alone or be part of a programm or portfolio
- projects are agents of change
Key project elements
- projects are complexe, one time processes
- projects are limited by budget, schedule and resources (iron triangle)
- projects are developed to resolve a clear goal or a set of goals
- projects are costumer focused, but custumer doesn’t take part in project
Key project properties
-projects are ad hoc endeavours with a clear life cycle
-projects ar building blocks in the design and execution of organizational strategies
-projects are responsible for the newest and most improves products, services an organizational processe–> projects are tools for innovation
-Projects provide a philosophy and strategy for the management of
change
-Project management entails crossing functional and organizational
boundaries
-The traditional management functions of planning, organizing, motivation,
directing, and control apply to project management
-The principal outcomes of a project are the satisfaction of customer
requirements within the constraints of technical, cost, and schedule
objectives
-Projects are terminated upon successful completion of performance
objectives or earlier in their life cycle, if results no longer promise an
operational or strategic advantage
Project management
- application of knowledge, skills, tools and techniques to project activities to meet project requirements guiding the project work to deliver the intended outcomes
- means bringing together individuals from different areas and organizations, to form a group whose compansion accords the nature of the project
project manager definition
- single point of responsibility assigned by the performing organization to lead the project team which is responsible for archieving the projects objectives
- his job to set up a structure which meets the needs of the project, the organisation, the individuals working on the project and the stakeholder in general
- has a variety of other functions such as facilitating the project team work to archieve the outcomes and managing the processes to deliver intended outcomes
Job of project manager
- plans , directs integrates stakeholder activites to archieve the project goals:
- develop the projects scope and manage scope change
- assess and manage risks
- manage changes and team
- control the projects progress and it’s expense
- coordination of the effort from each organisational function, controls the budget schedule and work tasks
Definition Program / programme
Related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually
Programs are collection of Projects having the same strategic objectives
Examples programmes
- the olympic games ,as building or improving the stadium and swimming pool, hosting facilities
The projects required to develop an oil field extraction facilities,
refineries, pipelines
The projects required to plan and deliver the fifa world cup such as the
construction of stadiums Each stadium can be seen as a separate
project
Definition Portfolio
large collection of Projects, programs, subsidiary portfolios, and operations
managed as a group to achieve strategic objectives.
grouped together because it would be strategically beneficial to manage them collectively
Portfolios are collection of projects or programmes that are grouped
together to facilitate effective management
Examples Portfolios
The overall portfolio of an oil and gas company with upstream facilities ie exploratory
activities like mining) and downstream facilities ie refining and purifying raw materials) all
over the world
The portfolio of software developed by a software company
The drugs under development by a pharmaceutical company
Organizational structure
direct projects vs. indirect projects
direct projects = directly conected with the planning of the event
indirect projects = not immediatley connected to programm/portfolio, but influenced by being hosted(not included in budget costing)
Portfolio, Program, and Project
Management Interactions
Three domains of project organising
Project based companies
- projects are core business
- suppliers are alsmost always in private sector
- organize work around discrete projects bring skilled stuff together to work
Examples for project organising
Project business-Projekt network
Project in the context of Business strategy
two interrelated layers in business strategy
permanent business network and temporaryproject networks
3 levels of analysis in organisation
