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1 Introduction 1 Introduction Until the 1980s, project management primarily focused on providing schedule and resource data to top management in the military, computer, and construction industries According to PMI’s Pulse of the Profession report, organizations waste $97 million for every $1 billion spent on projects Today’s organizations are recognizing that to be successful, they need to use modern project management techniques, especially for IT projects Individuals are realizing that to remain competitive in the workplace, they must develop skills to become good project team members and project managers RQ 2 1 2
2 Introduction Advantages of Using Formal Project Management: Better control of financial, physical, and human resources Improved customer relations Shorter development times Lower costs and improved productivity Higher quality and increased reliability Higher profit margins Better internal coordination Positive impact on meeting strategic goals Higher worker morale RQ 3 IT Projects Record IT Projects have a terrible track record A 1995 Standish Group study (CHAOS) found that only 16.2% of IT projects were successful in meeting scope, time, and cost goals; over 31% of IT projects were canceled before completion A PricewaterhouseCoopers study found that over half of all projects fail and only 2.5% of corporations consistently meet their targets for scope, time, and cost goals for all types of project RQ 4 3 4
3 Changing Technology Top Strategic Technologies for 2019 (Gartner) Autonomous Things Augmented Analytics AI-Driven Development Empowered Edge Immersive Experience Blockchain Digital Ethics and Privacy RQ 5 What Is a Project? A project is “a temporary endeavor undertaken to create a unique product, service, or result” (PMBOK Guide, Sixth Edition, 2017) Operations is work done to sustain the business Projects end when their objectives have been reached or the project has been terminated Projects can be large or small and take a short or long time to complete RQ 6 5 6
4 Examples of IT Projects A team of students creates a smartphone application and sells it online A small software development team adds a new feature to an internal software application for the finance department A company develops a new system to improve customer relationship management that will work on various laptops, smartphones and tablets A government group develops a system to track child immunizations A global bank acquires other financial institutions and needs to consolidate systems and procedures RQ 7 Project Attributes A project has a unique purpose is temporary is developed using progressive elaboration requires resources, often from various areas should have a primary customer or sponsor The project sponsor usually provides the direction and funding for the project involves uncertainty Because every project is unique, it is sometimes difficult to define its objectives clearly, or estimate its cost and time required

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