CONTEMPORARY PROJECT MANAGEMENT PDF

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The project life cycle, the project manager, the importance of project management, the understanding of the product life cycle, global competition, the explosion of knowledge, the reduction of corporate size, the management of projects nowadays....

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CONTEMPORARY PROJECT MANAGEMENT

Often, the terms program and project are used interchangeably in practice, which often leads to confusion. Both are similar because they are geared towards achieving goals and need plans and resources to achieve them. Both also use tools, methods, and policies. The differences lie mainly in the scope and time that each one encompasses. A program is a series of multiple, coordinated and related projects; it goes on over time and seeks to reach a goal. A program is a higherlevel project group that targets a common goal. The classic example is the American space program for placing a station on the Moon that serves as a springboard for other cosmic explorations. What is a project? First, projects have a definite goal, either to build a 12-story apartment complex by January 1, or to release version 2.0 of a specific software package as soon as possible. The singular objective often lacks the daily life of organizational life, in which workers perform repetitive operations every day. Second, as there is a specific objective, projects have a definite purpose, distinct from the ongoing duties and responsibilities of traditional work. In many cases, individuals move from one project to another and do not remain in a single job. After you help install a security system, an IT engineer may be tasked with developing a database for a different customer. Third, unlike much of the organizational work that is divided according to the functional specialty, it is typical that projects require the combined efforts of various specialists. Instead of working in separate office, with independent managers, project participants, whether engineers, financial analysts, marketing professionals or quality control specialists, work together under the direction of a project manager to bring a project to an end. Fourthly, the project is not routine and has unique elements. This is not optional, but of different intensity. Obviously, when it comes to achieving something that has never been done, such as building a hybrid car (electric/petrol) or putting two mechanical vehicles on Mars, you need to solve problems that have not been solved before and state-of-the-art technology is required. On the other hand, even basic construction projects involving established sets of routines and procedures require some degree of adaptation that makes them unique. Finally, projects face specific time, cost, and performance requirements. They are evaluated according to the achievement, money and time spent on them. This triple restriction imposes a higher degree of responsibility which is usually found in most jobs. They also highlight one of the fundamental functions of project

management, which is to balance the trade-offs between time, cost, and performance, and ultimately satisfy the customer. What's not a project? Projects should not be confused with day-to-day work. A project is not a routine and repetitive job! Each day's ordinary work requires repeating the same or similar task over and over again, while a project is done only once; a new product or service arises when the project is finished. It is important to recognize the difference because it is too often possible to use resources in day-today operations that may not contribute to the organization's long-term strategies for which innovative products are required. Each project within a program has a project manager. Two important differences between program and project are scale and temporal scope. Examples of programs and their goals are sets of projects that each year seek to increase the speed of computer microcomponents, various new arthritis pharmaceuticals, and an urban transportation system in the city of Denver, at a cost of $4.7 billion for 12 years, which will stretch 120 miles on six new rail lines. The life cycle of the project Another way to illustrate the unique nature of working on a project is in terms of its lifecycle. Some project managers find it useful to use it as the cornerstone for managing projects. The lifecycle recognizes that projects have a limited scope of life and that there are predictable changes in the level of effort and focus over the life of the project. There are different lifecycle models in the project management literature. Many are unique in a specific industry or type of project. For example, a new software development project can consist of five stages: definition, design, code, integration/verification, and maintenance. Typically, the project lifecycle traverses, sequentially, four stages: definition, planning, execution, and delivery. The starting point starts the moment you start the project. Efforts start slowly, but reach a peak and then fall until the project is delivered to the customer. 1. Definition stage: project specifications are defined; their objectives are set; teams are integrated; the main responsibilities are assigned. 2. Planning stage: Increases the level of effort and develops plans to determine what the project will involve, when it will be scheduled, who it will benefit, what level of quality should be maintained and what the budget will be. 3. Execution stage: a large part of the project's work is done in both the physical and mental aspects. The physical product (a bridge, a report, a software program) is produced. Time, cost, and specification measurements are used as a means of project control. Is the project within schedule, within budgeted and meets specifications? What are the forecasts for each of these measures? What revisions/changes are needed?

4. Delivery stage: Includes two activities: deliver the project product to the customer and redeploy the project resources. The first can include customer training and document transfer. The second usually involves releasing the project equipment/materials to other projects and finding new assignments for team members. In practice, some project groups use the project lifecycle to represent the schedule of the most important tasks in the life of the project. For example, the design team may plan to commit important resources at the definition stage, while the quality team would expect their most relevant effort to increase in the later stages of the project lifecycle. Because most organizations have a portfolio of projects that are carried out concurrently, even if each is at a different stage in its lifecycle, it is imperative to plan and manage carefully at the organizational and project levels. The project manager Somehow, project managers perform the same tasks as other managers. That is, they plan, program, motivate and control. However, they are unique because they manage temporary and non-repetitive activities in order to complete a project alive. Unlike functional administrators, who handle existing operations, project administrators create a team and project organization where it didn't exist before. They have to decide what and how to do things and not just manage fixed processes. They must overcome the challenges that arise in each phase of the project lifecycle and even monitor the dissolution of their operation when the project is completed. Project managers must work with a diverse group of characters to complete their assignment. They are usually the direct link with the customer and must handle the tension between customer expectations and what is feasible and reasonable. Project managers give direction, coordination and integration to the project team; This is often done with part-time participants who are loyal to their functional departments. They often have to work with a group of outsiders: vendors, suppliers, and subcontractors who don't necessarily share the philosophy of project team members. Ultimately they are responsible for performance (sometimes with very little authority). They must ensure that adequate compensation is made between project time, cost, and performance requirements. Also, unlike their functional counterparts, project managers often have rudimentary technical knowledge to make such decisions. Instead, they should organize the completion of the project by inducing the right people, at the appropriate time, to resolve the right issues and make the right decisions. While it is true that project management is not for a shy person, it is possible to get many rewards when working on them. Life in projects is rarely boring; every day is different from the previous one. As most projects are aimed at solving a tangible

problem or looking for some useful opportunity, project managers find their work satisfactory and meaningful personally. They enjoy creating something new and innovative. Project managers and team members can be very proud of their achievements, whether it's a new bridge, a new product, or a necessary service. Project managers are often the stars of your organization and receive very good pay for their work. There is always demand for good project managers. Every industry is looking for efficient people who can do the right thing on time. Of course, project management is an exciting profession that involves many challenges.

The importance of project management Project management is no longer an administration for special needs. Very soon it has become the common way to do business. See "Practice Case: Managing Working Projects". An increasing percentage of a company's typical effort is being devoted to projects. The future promises an increase in the importance and role of projects to contribute to the strategic direction of organizations. Product lifecycle compression One of the most important driving forces behind the demand for project management is the shortening of the product lifecycle. For example, today, in hightech industries, the product lifecycle covers, on average, one to three years. Just 30 years ago, it wasn't uncommon for them to reach 10 to 15 years. The time to market new products with short life cycles has become increasingly important. A very common rule of law in the world of high-tech product development is that a six-month delay in the project can result in a 33 percent loss in the revenue generated by the product. Therefore, speed becomes a competitive advantage; more and more organizations are relying on interfunctional teams that are tasked with achieving a project to bring new products and services to market as soon as possible. Global competition Today's open market demands that not only cheaper products and services be available, but also better. This has led to the emergence of a quality movement around the world and the requirement of an ISO 9000 certification to do business. Iso 9000 is a family of international standards for quality management and assurance. These standards cover design, procurement, quality assurance and delivery processes for everything from banking services to manufacturing. Management and quality improvement invariably involve project management. For many, their first exposure to project management techniques has been given in quality workshops.

The increase in pressure to reduce costs has not only led to the migration of U.S. manufacturing operations to Mexico and Asia, which in itself is already a significant project but also to transformation in the way organizations try to achieve results. A constantly larger amount of work is classified as projects. Individuals are assigned responsibility to achieve a specific goal within a given budget and a specific end date. Project management, with its triple focus on time, cost, and performance, proves to be an effective and flexible way for things to be done. Explosion of knowledge The emergence of new knowledge has increased the complexity of projects because they cover the latest developments. For example, 30 years ago road construction was a simple process. Today, each area has increased its complexity, including materials, specifications, codes, aesthetics, equipment and necessary specialists. Similarly, in today's digital electronic age, it is becoming increasingly difficult to find a product that does not contain at least one microchip. Product complexity has increased the need to integrate divergent technologies. Project management has become an important discipline to accomplish this task. Corporate size reduction (downsizing) Over the past decade, there has been a fundamental restructuring in the lives of organizations. Reducing size, downsizing (or adjusting to a correct size, rightsizing, if you still keep your job) and jealous care of key capabilities have become necessary for the survival of many companies. The middle administration is a mere skeleton of the past. In today's flatter, simplified organizations, where change is a constant, project management is replacing average management as a way to ensure things are done. The company's downsizing has also led to changes in the way organizations approach projects. Companies hire important segments of project work on the outside, and project managers have to manage not only their own people, but also their counterparts in different organizations. Increased customer focus Growth in competition has raised the importance of customer satisfaction. Customers no longer settle for generic products and services. They want tailormade products and services that meet your specific needs. This command requires a much closer working relationship between the provider and the receiver. Account executives and sales reps have taken on the role of project managers more as they work with their organization to meet their customers' unique needs and requests. Increased customer service has also driven the development of tailor-made products and services. For example, 10 years ago, buying a pack of golf clubs was a fairly simple process: they were chosen based on price and perception. Currently there are golf clubs for tall and small players, for those who tend to slice the ball

and for those who hook it; they are also manufactured with the latest metallurgical discovery that guarantees to increase the distance of the blow and thus thereafter. Project management is essential both for the development of tailor-made products and services, as well as for maintaining lucrative customer relationships. Small projects pose big problems The speed of change needed to maintain competitiveness, or just to continue operating, has fostered an organizational climate in which hundreds of projects are carried out at the same time. This climate has led to a multi-project environment and a plettive of new problems. Sharing and hierarchical resources across a project portfolio is a fundamental challenge for senior management. Many companies have no idea of the problems arising from the inefficient management of small projects. These usually involve the same risks, or more, as large-scale projects. These small projects are perceived as of little significance in results because they do not require large amounts of scarce resources and/or money. As many small projects are carried out at the same time and because the perception of the effect on inefficiency is small, measurements of inefficiency are generally not made. Unfortunately, from many small projects large amounts of money soon accumulate. Every year, product manufacturers and service providers lose many customers and millions of dollars in small projects. Many small projects can consume a company's human resources and represent hidden costs that are not measured in the accounting system. Organizations with many small projects, which work concurrently, face the most difficult project management issues. A key issue is how to create an organizational environment that becomes a support for multi-project management. A process is required to jarrquizar and develop a portfolio of small projects that support the company's mission. In short, there is a diversity of environmental forces that interact in today's business world and contribute to increasing demand for good project management across industries and sectors. Project management seems to be ideally adapted to a business environment that demands accountability, flexibility, innovation, speed and continuous improvement. Project management today: an inclusive approach Some managers have used different tools that are useful for managing projects. Among other things they have employed networks, bar charts, task costs, operating forces, societies and programming, sometimes successfully and at other times with poor results. As the world becomes more competitive, the importance of managing the project management process and "doing well from the first time" takes on new meaning. Project fragmentation systems fail to relate selected projects to resources. Fragmentation tools and techniques are not integrated throughout the project lifecycle. Fragmentation approaches do not balance project

planning or control methods with appropriate adjustments to the organization's culture, thus supporting project tasks. Currently, the emphasis is on the development of an integrated project management process that focuses all project efforts on the organization's strategic plan; it also strengthens the mastery of project management techniques/tools and the interpersonal capabilities needed to organize successful project completion. For some organizations, integrating projects with the strategy requires reengineering the entire business administration process. For others, integration will carefully establish relationships between existing fragmentary systems and modify the approach to a total system. At the individual level, for some professionals to become efficient project managers, it is necessary to improve their leadership and team-building skills, as well as to modernize their project planning and control methods. For others it will be necessary to complement their administrative skills with the ability to inspire and lead a divergent group of professionals until the completion of the project. Integration into project management draws attention to two key areas. The first is the integration of projects with the strategic plan of the organization. The second is to achieve integration within the process of managing real projects. Integrating projects with the strategic plan In some organizations, project selection and management often ceases to support the organization's strategic plan. One group of managers drafts the strategic plans, another chooses the projects and one more puts them into practice. These independent decisions, at the hands of different groups of managers, lead to a set of conditions that lead to conflict, confusion and often customer dissatisfaction. Under these conditions, the organization's resources are wasted on projects for activities/projects that lack added value. An integrated system for project management is one in which all parties are interrelated. A change in one of them will influence the total. All organizations have a customer they seek to satisfy. The customer establishes the organization's raison d'eer. Mission, objectives and strategies are established to meet customer needs. The development of the organization's mission, objectives and strategies depends on external and internal environmental factors. The former are generally classified as political, social, economic and technological; point to opportunities or threats in setting the course of the organization. Internal environmental factors are often classified as strengths and weaknesses, such as management, facilities, and key competencies and financial situation. The result of the analysis of all these environmental factors is a set of strategies designed to better meet the needs of customers. But this is just the first step. Implementing strategies is the most difficult step. In general, strategies are implemented through projects. Creative minds always propose more projects than

existing resources. The key is to choose, from the many proposals, the projects that make the greatest and most balanced contribution to the objectives and strategies (and therefore to the clients) of the organization. This means hierarchical projects in such a way that scarce resources are allocated to the appropriate projects. Once a project has been chosen to do so, the focus is on the project management process, which sets the stage for project deployment or execution. Integratio...