Fluent Essays

type a two page paper regarding what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding. Define and describe what you thought was worthy of your understanding in half a page, and then explain why you felt it was important, how you will use it, and/or how important it is in project management. After submitting your two page paper as an initial post chapter_2._the_organizational_context_strategy__structure__and_culture___.pptx chapter_1._introduction_why_project_management___.pptx Unformatted Attachment Preview Project Management: Achieving Competitive Advantage Fifth Edition Chapter 2 The Organizational Context: Strategy, Structure, and Culture Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Learning Objectives (1 of 2) 2.1 Understand how effective project management contributes to achieving strategic objectives. 2.2 Recognize three components of the corporate strategy model: formulation, implementation, and evaluation. 2.3 See the importance of identifying critical project stakeholders and managing them within the context of project development. 2.4 Recognize the strengths and weaknesses of three basic forms of organizational structure and their implications for managing projects. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Learning Objectives (2 of 2) 2.5 Identify the characteristics of three forms of a project management office (PMO). 2.6 Understand key concepts of corporate culture and how cultures are formed. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved PMBoK Core Concepts Project Management Body of Knowledge (PMBoK) covered in this chapter includes: 1. Project Procurement Management (PMBoK 12) 2. Identify Stakeholders (PMBoK 13.1) 3. Plan Stakeholder Management (PMBoK 13.2) 4. Manage Stakeholder Engagement (PMBoK 13.3) 5. Organizational Influences on Project Management (PMBoK 2.1) 6. Organizational Structures (PMBoK 2.1.3) 7. Organizational Cultures and Styles (PMBoK 2.1.1) 8. Enterprise Environmental Factors (PMBoK 2.1.5) Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Projects and Organizational Strategy Strategic management—the science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives. Consists of: • Developing vision and mission statements • Formulating, implementing, and evaluating • Making cross-functional decisions • Achieving objectives Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Table 2.1 Projects Reflect Strategy Strategy Project Technical or operating initiatives (such as new distribution strategies or decentralized plant operations) Construction of new plants or modernization of facilities Development of products for greater market penetration and acceptance New product development projects New business processes for greater streamlining and efficiency Reengineering projects Changes in strategic direction or product portfolio reconfiguration New product lines Creation of new strategic alliances Negotiation with supply chain members (including suppliers and distributors) Matching or improving on competitors’ products and services Reverse engineering projects Improvement of cross-organizational communication and efficiency in supply chain relationships Enterprise IT efforts Promotion of cross-functional interaction, streamlining of new product or service introduction, and improvement of departmental coordination Concurrent engineering projects Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 2.2 TOWS Matrix Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Stakeholder Management Stakeholder analysis is a useful tool for demonstrating some of the seemingly irresolvable conflicts that occur through the planned creation and introduction of new projects. Project stakeholders are defined as all individuals or groups who have an active stake in the project and can potentially impact, either positively or negatively, its development. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Identifying Project Stakeholders Internal Stakeholders • Top management • Accountant • Other functional managers • Project team members External Stakeholders • Clients • Competitors • Suppliers • Environmental, political, consumer, and other intervener groups Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 2.3 Project Stakeholder Relationships Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Managing Stakeholders 1. Assess the environment. 2. Identify the goals of the principal actors. 3. Assess your own capabilities. 4. Define the problem. 5. Develop solutions. 6. Test and refine the solutions. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Organizational Structure Consists of three key elements: 1. Designates formal reporting relationships – number of levels in the hierarchy – span of control 2. Identifies groupings of – individuals into departments – departments into the total organization 3. Design of systems to ensure – effective communication – coordination – integration across departments Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Forms of Organization Structure • Functional organizations—group people performing similar activities into departments • Project organizations—group people into project teams on temporary assignments • Matrix organizations—create a dual hierarchy in which functions and projects have equal prominence Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 2.4 Example of a Functional Organizational Structure Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Table 2.2 Strengths and Weaknesses of Functional Structures Strengths for Project Management Weaknesses for Project Management 1. Projects developed within basic functional structure require no disruption or change to firm’s design. 1. Functional siloing makes it difficult to achieve cross-functional cooperation. 2. Enables development of indepth knowledge and intellectual capital. 2. Lack of customer focus. 3. Allows for standard career paths. 3. Longer time to complete projects. Blank 4. Varying interest or commitment. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 2.6 Example of a Project Organizational Structure Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Table 2.3 Strengths and Weaknesses of Project Structures Strengths for Project Management Weaknesses for Project Management 1. Project manager sole authority 1. Expensive to set up and maintain teams 2. Improved communication 2. Chance of loyalty to the project rather than the firm 3. Effective decision making 3. Difficult to maintain a pooled supply of intellectual capital 4. Creation of project management 4. Team member concern about experts future once project ends 5. Rapid response to market opportunities Blank Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 2.7 Example of a Matrix Organizational Structure Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Table 2.4 Strengths and Weaknesses of Matrix Structures Strengths for Project Management Weaknesses for Project Management 1. Suited to dynamic environments 1. Dual hierarchies mean two bosses 2. Equal emphasis on project management and functional efficiency 2. Negotiation required in order to share resources 3. Promotes coordination across functional units 3. Workers caught between competing project and functional demands 4. Maximizes scarce resources Blank Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Heavyweight Project Organizations Organizations can sometimes gain tremendous benefit from creating a fully dedicated project organization. Lockheed Corporation’s “Skunkworks” • Project manager authority expanded • Functional alignment abandoned in favor of market opportunism • Focus on external customer Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 2.8 Managers’ Perceptions of Effectiveness of Various Structures on Project Success Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Project Management Offices Centralized units that oversee or improve the management of projects Resource centers for: • Technical details • Expertise • Repository • Center for excellence Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 2.9 Alternative Levels of Project Offices Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Forms of PMOs and Control Three forms of PMOs, varying with degrees of control and influence include: • Supportive—low control; consultative and provide PM resources and training • Controlling—moderate control; requires compliance to adopted PM standards/processes • Directive—high control; directly manages projects Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Models of PMOs In addition to the forms of PMO and varying levels of control, there are models of PMOs with various purposes for companies: • Weather station—monitoring and tracking • Control tower—project management is a skill to be protected and supported • Resource pool—maintain and provide a cadre of skilled project professionals Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved PMO Control Tower • Performs four functions: – Establishes standards for managing projects – Consults on how to follow these standards – Enforces the standards – Improves the standards Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Organizational Culture • Unwritten • Rules of behavior • Held by some subset of the organization • Taught to all new members Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Key Factors That Affect Culture Development • Technology • Environment • Geographical location • Reward systems • Rules and procedures • Key organizational members • Critical incidents Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Organizational Culture: Effects on Project Management • Departmental interaction • Employee commitment to goals • Project planning • Performance evaluation Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Summary (1 of 2) 1. Understand how effective project management contributes to achieving strategic objectives. 2. Recognize three components of the corporate strategy model: formulation, implementation, and evaluation. 3. See the importance of identifying critical project stakeholders and managing them within the context of project development. 4. Recognize the strengths and weaknesses of three basic forms of organizational structure and their implications for managing projects. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Summary (2 of 2) 5. Identify the characteristics of three forms of a project management office (PMO). 6. Understand key concepts of corporate culture and how cultures are formed. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Copyright Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Project Management: Achieving Competitive Advantage Fifth Edition Chapter 1 Introduction: Why Project Management? Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Learning Objectives (1 of 2) 1.1 Understand why project management is becoming such a powerful and popular practice in business. 1.2 Recognize the basic properties of projects, including their definition. 1.3 Understand why effective project management is such a challenge. 1.4 Understand and explain the project life cycle, its stages, and the activities that typically occur at each stage in the project. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Learning Objectives (2 of 2) 1.5 Understand the concept of project “success,” including various definitions of success, as well as the alternative models of success. 1.6 Understand the purpose of project management maturity models and the process of benchmarking in organizations. 1.7 Recognize how mastery of the discipline of project management enhances critical employability skills for university graduates. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved PMBoK Core Concepts Project Management Body of Knowledge (PMBoK) covered in this chapter includes: 1. Definition of a Project (PMBoK 1.2) 2. Definition of Project Management (PMBoK 1.3) 3. Relationship to Other Management Disciplines (PMBoK 1.4) 4. Project Phases and the Project Life Cycle (PMBoK 2.1) Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved What Is a Project? • Projects are complex, one-time processes. • Projects are limited by budget, schedule, and resources. • Projects are developed to resolve a clear goal or set of goals. • Projects are customer-focused. A project is a temporary endeavor undertaken to create a unique product, service, or result. PMBoK 5th edition Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved General Project Characteristics (1 of 2) • Projects are ad hoc endeavors with a clear life cycle. • Projects are building blocks in the design and execution of organizational strategies. • Projects are responsible for the newest and most improved products, services, and organizational processes. • Projects provide a philosophy and strategy for the management of change. • Project management entails crossing functional and organizational boundaries. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved General Project Characteristics (2 of 2) • Traditional management functions of planning, organizing, motivation, directing, and controlling apply to project management. • Principal outcomes of a project are the satisfaction of customer requirements within the constraints of technical, cost, and schedule objectives. • Projects are terminated upon successful completion of performance objectives. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Process and Project Management Table 1.1 Differences Between Process and Project Management Process Project Repeat process or product New process or product Several objectives One objective Ongoing One-shot-limited life People are homogenous More heterogeneous Well-established systems Integrated system efforts Greater certainty Greater uncertainty Part of line organization Outside of line organization Established practices Violates established practice Supports status quo Upsets status quo Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Project Success Rates • Software and hardware projects fail at a 65\% rate. • Over half of all IT projects become runaways. • Only 30\% of technology-based projects and programs are a success. • Ten major government contracts have over $16 billion in cost overruns and are a combined 38 years behind schedule. • One out of six IT projects has an average cost overrun of 200\% and a schedule overrun of 70\%. • More than one-third of the $110 billion in costs spent on the postwar reconstruction projects in Afghanistan, total $110 billion was lost due to fraud, waste, and abuse. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Why Are Projects Important? 1. Shortened product life cycles 2. Narrow product launch windows 3. Increasingly complex and technical products 4. Emergence of global markets 5. An economic period marked by low inflation Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 1.4 Project Life Cycle Stages Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Project Life Cycles A project life cycle refers to the stages in a project’s development and are divided into four distinct phases: • Conceptualization—development of the initial goal and technical specifications of the project. Key stakeholders are identified and signed on at this phase. • Planning—all detailed specifications, schedules, schematics, and plans are developed. • Execution—the actual “work” of the project is performed. • Termination—project is transferred to the customer, resources reassigned, project is closed out. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Change During Project Life Cycle Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 1.5 Project Life Cycles and Their Effects Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Quadruple Constraint of Project Success Figure 1.7 The New Quadruple Constraint Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 1.8 Four Dimensions of Project Success Importance Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Table 1.2 Understanding Success Criteria Iron Triangle Information System Benefits (Organization) Benefits (Stakeholders) Cost Maintainability Improved efficiency Satisfied users Quality Reliability Improved effectiveness Social and environmental impact Time Validity Increased profits Personal development Blank Information quality Strategic goals Professional learning, contractors’ profits Blank Use Organization learning Capital suppliers, content Blank Blank Reduced waste Project team, economic impact to surrounding community Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Six Criteria for IT Project Success • System Quality • Information Quality • Use • User Satisfaction • Individual Impact • Organizational Impact Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Project Management Maturity • Project management maturity (PMM) models are used to allow organizations to benchmark the best practices of successful project management firms. • Benchmarking is the practice of systematically managing the process improvements of project delivery by a single organization of a period of time. Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 1.9 Spider Web Diagram for Measuring Project Maturity Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 1.10 Spider Web Diagram with Embedded Organizational Evaluation Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Figure 1.11 Project Management Maturity—A Generic Model Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Developing Project Management Maturity PMM models • Center for Business Practices • Kerzner’s Project Management Maturity Model • ESI International’s Project Framework • SEI’s Capability Maturity Model Integration Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Center for Business Practices PMM • Level 1: Initial Phase • Level 2: Structure, Process, and Standards • Level 3: Institutionalized Project Management • Level 4: Managed • Level 5: Optimizing Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved Kerzner’s PMM Model • Level 1: Common Language • Level 2: Common Processes • Level 3: Singular Methodology • Level 4: Benchmarking • Level 5: Continuous Improvement Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved ESI International’s Project Framework • Level 1: Ad Hoc • Level 2: Consistent • Level 3: Integrated • Level 4: Comprehensive • Level 5: Optimizing Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved SEI’s Capability Maturity Model Integration • Level 1: Initial • Level 2: Managed • Level 3: Defined • Level 4: Quantitative Management • Level 5: Optimizing Copyright © 2019, 2016, 2013 Pearson Education, Inc. ... Purchase answer to see full attachment