Project Management: Introduction

• Project – temporary endeavor undertaken to create a unique product or service
• Has a definite beginning and end and interrelated activities
• Programs adopt new set of objectives and continue to work; projects cease when declared objectives have been attained
• Projects are unique – characteristics are progressively elaborated
• Progressively: proceeding in steps
• Elaborated: worked with care and detail
• Scope of project should remain constant even as characteristics are “progressively elaborated”
• Project Management: the application of knowledge, skills, tools and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a defined project – balancing the following:
• Scope, time, cost, and quality
• Stakeholders’ expectations
• Requirements (needs) vs. unidentified requirements (expectations)
• Programs are groups of projects managed in a coordinated way to obtain benefits not available from managing the projects individually
• Most programs have elements of ongoing operations
• Series of repetitive or cyclical undertakings
• Projects are often divided into “subprojects” for more manageability
• Often contracted out to external organizations