Project Management
Achieving Competitive Advantage

Chapter One
• Introduction:
– Why Project Management?

What is a Project
• Two definitions of project:
– A project is a unique venture with a beginning and end, conducted by people to meet established goals within parameters of cost, schedule, and quality – Projects are goal-oriented, involve the coordinated undertaking of interrelated activities, are of finite duration, and are all, to a degree, unique

• Difference between process and project
– Process refers to ongoing, day-to-day activities in which an organization engages while producing goods or services; process uses existing system, properties, and capabilities in a continuous, fairly repetitive manner – Projects take place outside the normal, process-oriented world of the firm

What is a Project (con’t)
• A project can be considered to be any series of activities or tasks that:
– Have a specific objective to be completed within certain specifications – Have defined start and end date – Have funding limits – Consume human and nonhuman resources – Are multifunctional

What is a Project (con’t)
• Various elements of projects:
– Projects are complex, one-time process: a project arises for a specific purpose or to meet a stated goal; they are complex because they typically require the coordinated inputs of numerous members of the organization – Projects are limited by budget, schedule, and resources: project work requires that members work with limited financial and human resources for a specified time period; project are resource-constrained activities – Projects are developed to resolve a clear goal or set of goals: its goals or deliverables, define the nature of the project and that of its team – Projects are customer-oriented: the underlying purpose of any project is to satisfy customer needs either internal or external customers