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Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
Project Management Chapter 1 and chapter 2 Rosetti
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Project Management Chapter 1 and chapter 2 Rosetti

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Project Management Intro

Project Management Intro

Published in: Education, Business, Technology
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  • 1. CHAPTER ONE Modern Project Management Copyright © 2014 McGraw-Hill Education. All Rights Reserved. PowerPoint Presentation by Charlie Cook
  • 2. What is a Project? • Project Defined –Complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs. • Major Characteristics of a Project –Established objective. –Defined life span with a beginning/end. –Cross functional/multidisciplinary participation –Usually involves doing something never done before. –Specific time, cost, and performance requirements. • Program vs. Project 1–2
  • 3. Project Life Cycle FIGURE 1.1 1–3
  • 4. The Challenge of Project Management • The Project Manager –Manages temporary, non-repetitive activities and frequently acts independently of the formal organization. • Marshals resources for the project. • Is linked directly to the customer interface. • Provides direction, coordination, and integration to the project team. • Is responsible for performance and success of the project. –Must induce the right people at the right time to address the right issues and make the right decisions. 1–4
  • 5. The Technical and Sociocultural Dimensions of the Project Management Process FIGURE 1.3 1–5
  • 6. The Strategic Management Process: An Overview • Strategic Management –Requires every project to be clearly linked to strategy. • Why? –Provides focus of firm’s future direction. • Responding to changes in the external environment— environmental scanning • Allocating scarce resources of the firm to improve its competitive position—internal responses to new programs –Requires strong links among mission, goals, objectives, strategy, and implementation. 2–6
  • 7. Four Activities of the Strategic Management Process • Mission/Vision • Internal and external environmental scan (SWOT) • Set long-range goals and objectives. • Analyze and formulate strategies to reach objectives. (SMART) • Implement strategies through projects 2–7
  • 8. Competitive Platforms Overall Low-Cost Provider Broad Differentiation Best-Cost Provider Focused Low-Cost Michael Porter Focused Differentiation
  • 9. Lost Cost Provider Strategies: Essential Elements • Make the achievement of meaningful lower costs the key theme. • Include features and services in program offerings that are only essential • Find approaches to achieve a cost advantage in ways difficult for rival institutions to copy or match. KEYS TO SUCCESS • Scrutinize each cost-creating activity • Use knowledge about cost drivers to manage costs downward in each expenditure category • Find ways to restructure “value chain” to eliminate nonessential work steps and lowvalue activities and programs • Work diligently to create a cost-conscious culture • Aggressively pursue investments in resources and capabilities that promise to drive costs out of the “value chain”
  • 10. Broad Differentiation Strategies: Essential Elements • Incorporate differentiating features that cause customers to prefer one organization over those of rivals • Find ways to differentiate that create value that are not easily matched or cheaply copied by rivals • Keep the cost of achieving differentiation below the higher price that can be charged KEYS TO SUCCESS The most appealing approaches to differentiation are those That are hardest for rivals to match or imitate That customers will find most appealing Best choices to gain a longer-lasting, more profitable competitive edge Innovation Technical superiority Superior Quality and Service Unique competitive capabilities
  • 11. Best Value: Essential Elements • Combine a strategic emphasis on low-cost with a strategic emphasis on differentiation Deliver upscale at a lower cost Give customers more value for the money • Deliver superior value by meeting or exceeding expectations • Be the low-cost provider, good-to-excellent attributes, use cost advantage to underprice competitors KEYS TO SUCCESS Capability to incorporate attractive program features at a lower cost than rivals Capability to create good-to-excellent quality at a lower cost than rival Capability to develop programs that delivers good-to-excellent performance at a lower cost than rivals Capability to provide attractive services at a lower cost than rivals
  • 12. Focused or Niche Strategy: Essential Elements • Involve concentrated attention on a narrow piece of the total student market • Serve niche buyers better than rival institutions • Choose a market niche where students have distinctive preferences, special requirements, or unique needs • Develop unique capabilities to serve needs of target student segment KEYS TO SUCCESS Achieve lower costs than rivals in serving a well-defined buyer segment (i.e., a focused low-cost strategy) or Offerings appealing to the unique preferences of a well-defined segment (i.e., a focused differentiation strategy)
  • 13. A Portfolio Management System 1-5% 5-30% 50-75% 2–13
  • 14. A Portfolio Management System • RFP Process –Gathering projects for review • Selection Criteria –Financial models: payback, net present value (NPV) –Non-financial models: projects of strategic importance to the firm. • Multi-Weighted Scoring Models –Use several weighted selection criteria to evaluate project proposals. 2–14
  • 15. Multi-Criteria Selection Models • Checklist Model – Uses a list of questions to review potential projects and to determine their acceptance or rejection. – Fails to answer the relative importance or value of a potential project and doesn’t to allow for comparison with other potential projects. • Multi-Weighted Scoring Model – Uses several weighted qualitative and/or quantitative selection criteria to evaluate project proposals. – Allows for comparison of projects with other potential projects 2–15
  • 16. Project Screening Matrix FIGURE 2.3 2–16
  • 17. Balancing the Portfolio for Risks and Types of Projects • Bread-and-butter Projects – Involve evolutionary improvements to current products and services. • Pearls – Represent revolutionary commercial opportunities using proven technical advances. • Oysters – Involve technological breakthroughs with high commercial payoffs. • White Elephants – Showed promise at one time but are no longer viable. 2–17

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