Project Management: How the MBA Can Help You Succeed


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Project Management: How the MBA Can Help You Succeed

  2. 2. <ul><li>What is a project? </li></ul><ul><ul><li>a project consists of a temporary endeavor undertaken to create a unique product, service or result. </li></ul></ul><ul><li>What is project management? </li></ul><ul><ul><li>Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals. </li></ul></ul>What is Project Management?
  3. 3. <ul><li>The primary challenge is to achieve all of the project goals and objectives while honoring the preconceived constraints. Typical constraints are scope , time , and cost . </li></ul><ul><li>The secondary—and more ambitious—challenge is to optimize the allocation and integrate the inputs necessary to meet pre-defined objectives. </li></ul>What is Project Management?
  4. 4. Basic Project Management Process Goal: What do you want to accomplish? Scope: What are the boundaries around what you want to accomplish? What’s in and what’s out? Estimate: What will it take for you to accomplish the goal? Do we need to change scope? Plan: When and how do you do what you estimated? Who’s going to help? Execute: Do what you planned and manage any changes as you go Review: See if you accomplished your goals
  5. 5. Sample Breakdown of Website Project
  6. 6. <ul><li>Construction </li></ul><ul><li>Engineering </li></ul><ul><li>Architecture </li></ul><ul><li>Information Technology </li></ul><ul><li>Telecommunications </li></ul><ul><li>Marketing/Interactive </li></ul>Where Are Project Managers Found
  7. 7. Career Path of A Project Manager Title Responsibilities Project Coordinator <ul><li>Manage low complexity projects </li></ul><ul><li>Assist PMs and Sr. PMs on complex projects </li></ul><ul><li>Assist Portfolio Manager on project governance, compliance audits, and reporting </li></ul>Project Manager <ul><li>Develop detailed project plans and schedules </li></ul><ul><li>Provide work direction and leadership to projects </li></ul><ul><li>Leads project team in day-to-day execution </li></ul><ul><li>Deliver projects on time, on budget, and within defined scope </li></ul>
  8. 8. Career Path of A Project Manager Title Responsibilities Sr. Project Manager <ul><li>Demonstrate leadership, facilitation, and interpersonal skills, with the ability to work across functional lines and at many levels </li></ul><ul><li>Strong conflict resolution, negotiation, and consensus-building skills </li></ul><ul><li>Deliver projects on time, on budget, and within defined scope </li></ul><ul><li>Apply lessons learned to future projects / processes </li></ul>Portfolio Manager <ul><li>Prioritization and alignment of initiatives with overall business strategy and vision </li></ul><ul><li>Optimization of resources (people, money, time) by selecting the most-appropriate project investments </li></ul><ul><li>Rationalize decision making processes </li></ul><ul><li>Provide flexibility to reassess and rebalance priorities </li></ul>
  9. 9. Sample PMO Organizational Chart Director - PMO Program Manager Portfolio Manager Project Manager Sr. Project Manager Portfolio Manager Project Manager Sr. Project Manager Program Manager Program Manager Program Manager Project Manager Sr. Project Manager Project Manager Sr. Project Manager Project Coordinator Project Coordinator Project Coordinator Project Coordinator
  10. 10. <ul><li>Provide Structure: From the very beginning of a project, each person should be clear on your mission, the timing and how you plan on achieving project success. </li></ul><ul><li>Communicate Clearly: Communication is key and can make or break the success of your project. It is up to you to leverage tools and technology in the most efficient way. </li></ul><ul><li>Lead by Example: All members must feel confident in executing their responsibilities. Lead your team by example, and they will respond accordingly. </li></ul><ul><li>Encourage Trust: The most important factor in building trust is based on completion of commitments. Whether commitments are based on planned tasks or verbal promises, team members must be encouraged to follow through in order to gain trust within the group dynamic. </li></ul><ul><li>Motivate: All teams need a strong leader to motivate them through a project, regardless of the size or length of the project. It is your job to find the best ways to properly motivate your team </li></ul>Primary Skills for A Project Manager
  11. 11. <ul><ul><li>Creative/Brainstorming Skills </li></ul></ul><ul><ul><li>Organizational Skills </li></ul></ul><ul><ul><li>Analysis Skills </li></ul></ul><ul><ul><li>Problem Solving Skills </li></ul></ul><ul><ul><li>Interpersonal Skills </li></ul></ul><ul><ul><li>Negotiation Skills </li></ul></ul><ul><ul><li>Communication Skills </li></ul></ul><ul><ul><li>Facilitation/Teamwork Skills </li></ul></ul><ul><ul><li>Documentation Skills </li></ul></ul><ul><ul><li>Conflict Resolution Skills </li></ul></ul>How the MBA Helps: Key Skills
  12. 12. <ul><ul><li>Strategic Management: Learn how decisions are made that shape the organizations future based on what it does well, what the environment allows, and what the goals and objectives are </li></ul></ul><ul><ul><li>Operations Management: Learn how a organization created value by manufacturing on procuring products and services </li></ul></ul><ul><ul><li>Finance Management: Learn how decisions are made based on the value of money i.e. investments, ROI, IRR </li></ul></ul><ul><ul><li>Marketing Management: Learn how to measure demand and define markets based on customers’ needs and preferences </li></ul></ul><ul><ul><li>Organizational Behavior/Design: Learn how to implement strategy through changing the structure and design of your organization and the changes it absorbs </li></ul></ul><ul><ul><li>Statistics/Data Analysis: Learn to assess information presented to you, find trends and patterns, and make a decision based on your assessment of the data. </li></ul></ul>How the MBA Helps: Core Courses
  13. 13. <ul><li>Get some training i.e. courses or books to read </li></ul><ul><li>Find a project you can lead with low risk </li></ul><ul><li>Learn how to define the resources you need for a project, develop a schedule and track progress </li></ul><ul><li>Deliver status reports to people who care </li></ul><ul><li>Pick a larger project and do it again </li></ul><ul><li>If you like project management, network, find, and apply for a project manager position </li></ul>How Do I Get Started
  14. 14. <ul><ul><li>Clarity: The greater clarity you have regarding your values, vision, mission, purpose and goals--the greater the probability that you will accomplish your goals. </li></ul></ul><ul><ul><li>Competence: You must make excellent performance of your tasks your primary goal and then dedicate all your energies to doing quality work and offering quality products and services. </li></ul></ul><ul><ul><li>Constraints: Your ability to identify the most important factors that determine the speed at which you achieve your goals is essential to your success. </li></ul></ul><ul><ul><li>Creativity: The essence of successful project manager is the ability to find faster, better, cheaper, easier ways to produce and deliver your products and services. </li></ul></ul><ul><ul><li>Concentration: Your ability to focus on the most important things is an essential prerequisite for success. </li></ul></ul><ul><ul><li>Courage: It takes tremendous courage to take risks necessary to become successful. </li></ul></ul><ul><ul><li>Continuous Action: Perhaps the most outwardly identifiable quality of a successful person is that he or she is in continuous motion. </li></ul></ul>7 Keys to A Successful Post-MBA Career
  15. 15. <ul><li>Project Management: A Systems Approach to Planning, Scheduling, and Controlling by Harold Kerzner - 10th Ed. ISBN: 978-0470278703 </li></ul><ul><li>PM Crash Course, Premier Edition: A Crash Course in Real-World Project Management by Rita Mulcahy ISBN: 978-1932735079 </li></ul><ul><li>For those pursuing CAPM or PMP certification: The Guide to the Project Management Body of Knowledge (PMBOK) 4th Edition by The Project Management Institute ISBN: 978-1933890517 </li></ul>Suggested Reading
  16. 16. Questions? Skype ID: davidedgertonjr [email_address] 651.560.0555