BUS528 PM Chapter 1 ideas and their application

{ This late submission for HW. }

VERZUH, The fast forward MBA in project management, 3rd edition, Wiley


One thing I leaned from this chapter was that demand of project management has been higher in large business organizations in US. So there are needs for standarized concepts and methods for this field. The organization PMI and IPMA provides the certification exam called PMP. It is good to lean the certified methods to increase the performance. I also learned was successful project managers need leadership. Communication skill is mandatory to get support from higher management, to get concensus among team members and functional managers. Also planing, setting scop and having the infrastructure in the organization are important to lead projects success.

In brief, the followings are the main ideas of chapter 1.

Chapter 1 summery

"Project management is the new critical leadership skill"

The Demand

As the organization is getting larger and progects are more complecated, demand for certified Program Manager is increased to make projects success. There are the organizations PMI and IPMA in US and PMP Exam is provided.

Definition

• What is project

- The set of works to do and it must have the beginning and end. For example, designing and building a new product is a project. Manufacturing the products is not a project but on going operation.

• What is project management 

- PM is a discipline - A set of methods and theory, communicates among executives, functional managers, and team members, coordination of force, estimate the efforts.

PM in the organization

• Need of PMO responsible for building infra in the organization.
• Best pmgrs are outstanding leaders.
• There are 5 important factors in PM: Agreement, plan, communication, controlled scope, management support