Chapter 2 Review

Chapter 2: Foundation Principles of Project Management

• How is a project defined?
• Has a beginning and an end
• Produces a unique product
• Contrasts with ongoing operations
• Challenges that face project managers
• Personnel
• Estimating
• Authority
• Controls
• Project management is industry-independent, project managers are not. PMs require skills in three areas:
• Project management
• Business management
• Technical
• A successful project is delivered:
• On-time, according to schedule
• On budget, meeting forecast cost estimates
• With high-quality as defined by scope and performance
• Cost-Schedule-Quality Equilibrium
• Manage expectations by:
• Setting realistic expectations
• Managing expectations throughout the project
• Delivering the promised product, on time and within budget
• Project management functions
• Project definition
• Project planning
• Project control (progress measurement, communication, corrective action)
• Project Life Cycle (how to manage the work)
• Define
• Plan
• Execute
• Close out
• Product Life Cycle (work required to create a product)
• Requirements
• Design
• Construct
• Operate
• Organizational models
• Function-driven
• Matrix organizations
• Project-oriented organizations
• Projectized firms
• Programs
• Product-oriented organizations
• Five issues of project management affected by organizational structure
• Authority
• Communication
• Priority
• Focus
• Chain of command

For me, the lesson of managing project expectations, the need for project managers to have technical skills in their industry, and the difference between the project life cycle and the product life cycle were the most significant concepts of this chapter. Although the book has address project management at a fairly high level thus far to set the scene for subsequent chapters, the concepts and perspectives it presents match my experience.