The project is a temporary initiative aimed at achieving a specific goal, in the form of a one-time and often unique and complex activity.
The International Organization for Standardization (ISO) defines a project as follows: a project is a unique process consisting of a set of coordinated and controlled activities with start and end dates undertaken to achieve a goal that meets specific requirements, including time constraints, costs and resources.
What is a project: Definition of a project?
A project is a temporary process undertaken to achieve a goal, which has a certain scope, can be completed in a certain period of time, uses human effort and a limited amount of resources and is characterized by a certain sequence of activities. The project has its beginning and end, ie. it has a limited life, while the product or service of the project generally has a long life. Read What is Project Management, PMI
The project is identified with various activities such as: investment, research, design, information research, consulting and more. The range may include some or all of them. In general, non-standard complex actions are performed in the conditions of constraints in terms of time, cost and quality requirements. In other words, the scope or set of activities is unique.
Following the logic of any management philosophy, project management is necessarily aimed at optimal utilization of company resources under the available constraints. A characteristic feature of project management is its transience or limited duration.
Business Value-Oriented Project Management (BVOPM)
Project Management oriented to business value is a set and principles aimed at optimizing all processes in project management practices that do not bring business value to the project and the organization. Read Business Value-Oriented Project Management, BVOPM
The need for projects is determined by the following: in the process of business planning is determined the need to improve existing operations, or the use of projects to implement change. Until the 1980s, the Operational Management approach was mainly used to achieve a competitive advantage. With the rapid development of technical innovations and communications, as well as new advanced planning techniques, the main advantage is to manage projects for the implementation of company business plans.
Project management can be defined as: performing a set of diverse activities with unique content to solve a complex non-standard problem, with imposed restrictions on time, cost, quality and specific requirements for the organization of work. The object of management is the project, which is targeted to achieve the necessary change.
Project Management Structure
The management structure of each project includes:
- The project manager;
- Client / user – this is the individual or organization that will “consume” the product of the project.
- Implementing organization – the organization whose specialists are most strongly involved in the project implementation activities;
- Project team – the group that performs the work on the project;
- Project management team – the members of the project team who participate in the project management activities;
- Sponsor / investor – an individual or group that provides financial resources for the project; Read Project manager vs Program manager vs Project sponsor: Differences and responsibilities, eduwiki
- Other stakeholders or groups who are not directly involved in the use of the project product, but because of their position in the client organization or the implementing organization, may have a positive or negative impact on the implementation of the project.
The project manager, together with the project team, must identify all external / internal potentially involved interests, clearly and fully identify the needs, requirements and expectations of their stakeholders and, as far as possible, “manage” their influence so as to ensure the successful completion of the project and the achievement of its goal Different stakeholders have different degrees of influence, take on different responsibilities during the different phases of the project life cycle, and also all this can change over time.
Project management case
According to the data from the case, the presented project is entirely social. This type of projects differs from other project structures in:
- The goal, which is far from being a profit, as in the case of projects related to investment goals;
- The benefit is much broader than in projects related to specific investment objectives;
- There is a much larger group of audiences that will benefit from the results of the project.
There are also a number of differences between investment-oriented projects and social projects such as those described in the case. Despite these differences, the way of project management is identical, as the main part of the management is the analysis of the structure, organization and risk of the project.
The purpose of the case is to address these issues by answering some key questions related to the structure, organizational activities and risk of the project described in the case.