1. Why is there a new or renewed interest in the field of project management? Ans. In today’s world every project needs a proper management to manage projects with new technologies. Virtual global teams have changed the entire work environment, especially for projects involve in information technology (IT). The total global spending on technology is approx. $2. 4 trillion in 2008, and the whole world spends around $10 trillion of its $40. 7 trillion gross product on projects. About 16 million people are working in field of project management.
Many companies realize that to be successful, they need modern project management techniques, so that they can be competitive and develop skills to become good project team members and project managers. They also realize that many of the concepts of project management will help them in their everyday lives as they work with people and technology on a day-to-day basis. Thus, project management is important to take decision for proper use of money, time, technology & people. 2. What is a project, and what are its main attributes?
How is a project different from what most people do in their day-to-day jobs? What is the triple constraint? Ans. A project is a temporary endeavor undertaken to create a unique product, service, or result. Projects come in all shapes and sizes and it’s attributes has a unique purpose, it’s temporary, A project is developed using progressive elaboration, requires resources, often from various areas, and A project should have a primary customer or sponsor which can also involve uncertainty.
The limitations referred in project management are known as the triple constraint. These limitation or constrained can be in different ways by its scope, time, or cost goals. 3. What is project management? Briefly describe the project management framework, providing examples of stakeholders, knowledge areas, tools and techniques, and project success factors. Ans. Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements.
A framework for project management includes the project stakeholders, project management knowledge areas, and project management tools and techniques. Stakeholders are the people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents of the project. For example, building a new house is a well-known example of a project. There are several stakeholders involved in a home construction project. Project management knowledge areas describe the key competencies that project managers must develop.
There are four core knowledge areas of project management include project scope, time, cost, and quality management and there are four facilitating knowledge areas of project management are human resource, communications, risk, and procurement management and Project integration management, the ninth knowledge area, is an overarching function that affects and is affected by all of the other knowledge areas. Project management tools and techniques assist project managers and their teams in carrying out work in all nine knowledge areas.
For example, some popular time management tools and techniques include Gantt charts, project network diagrams, and critical path analysis. There are different ways to define project success, and project managers must understand the success criteria for their unique projects. 4. What is a program? What is a project portfolio? Discuss the relationship between projects, programs, and portfolio management and the contributions they each make to enterprise success. Ans. A program is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually.
A project portfolio is mainly all about Strategic Goals of a company. In many organizations, project managers also support an emerging business strategy of project portfolio management, in which organizations group and manage projects and programs as a portfolio of investments that contribute to the entire enterprise s success. Portfolio management helps their organization in making wise investment decisions by helping them to select and analyze projects from a strategic perspective.
What is the role of the project manager? What are suggested skills for all project managers and for information technology project managers? Why is leadership so important for project managers? How is the job market for information technology project managers? Ans. A project manager can have many different job descriptions, which can vary tremendously based on the organization and the project, but most include responsibilities like planning, scheduling, coordinating, and working with people to achieve project goals.
The suggested skills for all project managers are People skills, Leadership, Listening, Integrity, ethical behavior, consistent, Strong at building trust, Verbal communication, Strong at building teams, Conflict resolution, conflict management, Critical thinking, problem solving, Understands, balances priorities. Leadership is an important skill because a leader focuses on long-term goals and big-picture objectives, while inspiring people to reach those goals. A recent survey by CIO. com supports this career projection. IT executives listed the skills they predicted would be the most in demand in the next two to five years.
Project/ program management came in first place, followed by business process management, business analysis, and application development. 6. Briefly describe some key events in the history of project management. What role does the Project Management Institute and other professional societies play in helping the profession? Ans. Some people argue that building the Egyptian pyramids was a project, as was building the Great Wall of China, and so as Manhattan Project to be the first project to use “modern” project management.
Project management was recognized as a distinct discipline requiring people with special skills and, more importantly, the desire to lead project teams. A Gantt chart is a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format. Project managers still use the Gantt chart as the primary tool to communicate project schedule information which is very helpful still today. 7. What functions can you perform with project management software?
What are some popular names of low-end, midrange, and high-end project management tools? Ans. There are hundreds of project management software tools that provide specific functionality for managing projects. These project management software tools can be divided into three general categories based on functionality and price. 1. Low-end tools: Handle single or smaller projects well, cost under $200 per user for example Reviews listed MinuteMan, Project Kickstart and Basecamp is another popular tool.
2. Midrange tools: Handle multiple projects and users, cost $200-$1,000 per user, Project 2010 most popular, Milestones, Copper and VPMi Express. 3. High-end tools: Also called enterprise project management software, often licensed on a per-user basis, like Microsoft Enterprise Project Management solution. Some popular names were Microsoft Office Project Server 2007 and Microsoft Office Project Portfolio Server VPMi Enterprise Online, Open Workbench, dotProject, and TaskJuggler.