SYST 4080 Project Management Overview

SYST 4080 Project Management Overview - Project Management...

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Project Management Overview Introduction: A project is an organized activity with a well-defined purpose , completed by a dedicated project team within a given timeframe . In other words, a project has a beginning and an end; the end comes when you have achieved the project’s purpose. Once you have achieved this purpose, the project is over. The project team may stay together and work on extending the project’s purpose, but this is considered another project – for example the first project designs and implements a new self-service facility registration system for a recreation center (the project’s purpose) – improvements to this system after it has been released or the addition of a new function (such as the member changing how they pay their dues each month) which was not included in the first project are different projects, with a different purpose and different timeframes than the original project. Triple Constraint: As a project manager you will hear this term a lot. It can be confusing because there are four constraints, not three. These are cost, time, quality and scope. Cost is how much
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money you have to spend to complete the project; time is how much time you have to complete the project; quality is how According to Merriam-Webster Dictionary, a constraint is “the state of being checked, restricted, or compelled to avoid or perform some action”. (see triple constraint for more details) A Project is Accomplished Through a Series of Processes: According to the Project Management Institute ( ) a project is made up of five processes : project initiation, project planning, project execution, project controlling and project closing . PMI has conducted a study showing that investing in project initiation and planning at the beginning of a project, before you incur most of the project cost, is the most effective way of ensuring that the project will meet its objectives. As the figure shows, a relatively modest investment at the start of a project will reduce by a much larger amount the cost of rework at later stages. Also note that the return on investment from planning is not infinite. As the cost of planning continues to increase at a steady rate, the cost of rework doesn’t continue to decrease at the same rate.
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