Business Success

Monday, July 27, 2009

What is Project Management?

Project Management:

Is the planning, organizing, directing, and controlling of company resources for a relatively short-term objective that has been established to complete specific goals or objectives. Furthermore, project management utilizes the systems approach to management by having functional personnel (the vertical hierarchy) assigned to a specific protect (the horizontal hierarchy).

What is a Project Manager?

Is any person who takes overall responsibility for coordinating a project, regardless of size, to make sure the desired end result comes in on time and within budget. A Project Manager must has human resource, contracts, supplies and risk management.


Six traits of good project managers:

1. Enthusiasm for the project
2. A ability to manage change effectively
3. A tolerant attitude toward ambiguity
4. Team building and negotiating skills
5. A customer-first orientation
6. Adherence to the priorities to business

Project Success:

a. Within the allocated time period
b. Within the budgeted cost
c. At the proper performance or specification level
d. With acceptance by the customer/user

Project Failure:

* Not enough resources are available to complete the project
* Not enough time to complete the project
* Unclear project expectations lead to inappropriate or incomplete results
* Disagreement among stakeholders regarding the expectations for the project leads to the dissatisfaction with the end results.

Why do we use the project management?

1. To share resources across organizational units
2. To focus attention on specific customers in specific market segment
3. To establish a liaison role between organizational units or specialties
4. To deal with specific ad hoc problems and opportunities
5. To deal with a new technology which requires pooling of existing resources and capacities

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