Unit 10 The World of Project Management and The Role of Project - - PDF document

Unit 10

The World of Project Management and The Role of Project Manager The Role of Project Manager

Source: Project Management in Practice, 4th Edition, Mantel, Meredith, Shafer, Sutton, Wiley, 2011. Project Management: A Systems Approach to Planning, Scheduling, and Controlling, 10th Edition, Harold Kerzner, Wiley, 2009.

• 1. The World of Project

Management Management

2

What is a Project? What is a Project?

A project is any task within an organization that does p j y g not fit neatly into ‘business-as-usual’. The “Big Dig” project in Boston and the “787 Dreamliner” project at Boeing are two examples of large scale projects On smaller scale an are two examples of large scale projects. On smaller scale, an individual might self‐build a new house, a car manufacturer may want to develop a new engine or a company may want to set up a quality system. In the school context, students are given a design and make project which needs to be managed – although on a smaller scale – using many of the same g g y principles as the larger projects.

3

Who is Involved? Who is Involved?

d l d l In industry, many projects are complex and may involve input from people with different kinds of knowledge and expertise. Projects usually involve a team who are managed by j y g y a project manager or project leader who may be appointed for the duration of the project. It is worth noting that project management is adopted as a career specialism by many engineers and is considered to be p y y g a mainstream engineering discipline.

4

Definition of a Project Definition of a Project

• 1. A temporary endeavor undertaken to create a unique

p y q product or service. (PMI 2008)

• 2. A project is a formal enterprise that addresses the matter

f d i i d d l i th i t

• f designing and developing the various systems.
• 3. A project is typically defined as a collaborative enterprise,

frequently involving research or design, that is carefully q y g g , y planned to achieve a particular aim.

• 4. A planned set of interrelated tasks to be executed over a

fi d i d d i hi i d h li i i fixed period and within certain cost and other limitations.

• 5. A project is specific and unique with a specific deliverable

aimed at meeting a specific need or purpose. aimed at meeting a specific need or purpose.

5

Project Characteristics Project Characteristics

• Have a specific objective (which may be unique

p j ( y q

• r one‐of‐a‐kind) to be completed within certain

specifications d f d d d d

• Have defined start and end dates
• Have funding limits (if applicable)

C h d h (i

• Consume human and nonhuman resources (i.e.,

money, people, equipment)

• Be multifunctional (cut across several functional

lines)

• Often involve conflicts

6

Overview of Project Management Overview of Project Management

Project management techniques originated in industry to address the need for managing increasingly complex activities such as civil and mechanical engineering projects. The techniques involved are something quite different in scope and purpose from the ‘Design Process’ that is familiar to the engineers. Project management concentrates on the management of resources and time h lif l f j i i

• ver the life cycle of a project in a systematic manner.

Project management involves applying a systematic Project management involves applying a systematic approach to achieving the objectives of the project.

7

Definition of Project Management Definition of Project Management “The application of knowledge, skills, tools, and techniques to a broad range of and techniques to a broad range of activities in order to meet the requirements of a particular project ” requirements of a particular project.

Project Management Institute 2007

8

Project Management Project Management

• Project Planning
• ject

a g

– Definition of work requirements – Definition of quantity and quality of work – Definition of resources needed

• Project monitoring

– Tracking progress – Comparing actual outcome to predicted outcome A l i i t – Analyzing impact – Making adjustments

9

Trends in Project Management?

Project management techniques are increasingly used for: Achieving Strategic Goals – e.g. Boeing 787 dreamiliner Achie ing Ro tine Goals

i hi i

Achieving Routine Goals – e.g. routine machine maintenance Improving Project Effectiveness – e.g. creation of project

management office

Organizing Virtual Projects – e.g. Microsoft Windows 8 development

involves global teams whose members operate in different countries, time zones.

Handling Quasi‐Projects – e.g. a new drug development in a

pharmaceutical company without a clearly defined objective, a fixed deadline, and a determined budget. , g

10

Project Management vs. Project Management vs. General Management

Project management differs from general management as “projects” differs from “nonprojects”

 General manager “manage by exception”. Project manager

• nly deals with the exceptions.

 General management success is dependent on good

• planning. Project success is absolutely dependent on

p g j y p carefully detailed planning.  “Non‐project” budget follows standard budgeting procedures while project budget is delivered directly procedures while project budget is delivered directly.  “Non‐project” rarely crossing organization functional boundaries and the projects crossing them freely.

11

What is Managed? What is Managed?

Project management refers to the administration of the j g project, its supervision and organization. It means analyzing the objectives of the project, defining the tasks needed to achieve these objectives and controlling the execution achieve these objectives and controlling the execution. Projects have three interrelated goals, these are to: j g ,

• Finish on time
• Meet the scope (specifications that satisfy the clients)
• Meet the budget limit

12

Scope, Cost, and Time Project Performance Goals Project Performance Goals

The performance of the project and PM is measured by the degree measured by the degree to which three goals are achieved.

13

Tradeoffs between Scope, Cost, and Time

The primary method of adapting to unpredicted The primary method of adapting to unpredicted change is to trade off one objective for another.

• Project falls behind schedule → Add more resources.
• Budget is short → Negotiate a later delivery date.
• Neither cost nor schedule is negotiable → take less

Neither cost nor schedule is negotiable → take less profit.

• When there is no acceptable ways to deal with the

bl t i t th j t problem → terminate the project.

14

Abilities Needed for Effective Abilities Needed for Effective Project Management  Ability to resolve conflicts y  Creativity and flexibility  Ability to adjust to change  Ability to adjust to change  Good planning skills  Negotiation skills  Negotiation skills

• win‐win versus win‐lose

15

The Life Cycle of Projects The Life Cycle of Projects

 All organisms have a life cycle (i.e., they are born,  All organisms have a life cycle (i.e., they are born, grow, wane, and die) … and so do projects  Some projects follow an S‐shaped curve … they start p j p y slowly, develop momentum, and then finish slowly (e.g. building a house)  Other project follow a J‐shaped curve … they start slowly , proceed slowly, and then finish rapidly (e.g. k b k k ) cooking or baking a cake)

16

Figure 1‐2 The Project Life Cycle Figure 1 2 The Project Life Cycle

17

Figure 1‐3 An Alternate Project Life Cycle Figure 1 3 An Alternate Project Life Cycle

18

Selecting Projects to Meet O i i l Obj i Organizational Objectives

 Project selection is the process of evaluating individual projects or groups of projects and then choosing to implement a set of them so that the objectives of the parent organization is achieved.  Conditions considered in selection

 Is it profitable?  Is it required by law?  Is it required by law?  Does the firm have the knowledge and skill to carry it out?  Does the project involve building competencies, consistent with the firm’s strategy? the firm s strategy?  Does the firm has the capacity to carry it out on schedule?  If R&D project, could the technical success bring economic success?

19

Nonnumeric Selection Methods Nonnumeric Selection Methods

 The “Sacred Cow”‐ a pet project advocated by a

senior executive of the firm.

 The operating/competitive necessity –

any project that is necessary for the continued ti f th fi

• peration of the firm.

 Comparative benefits – among complex

projects selection could be made by individuals in the projects, selection could be made by individuals in the committee through rank‐ordering, such as the Q‐sort method.

20

The Q‐Sort Method The Q Sort Method

First, separate projects into “good”, “fair” and “poor”

• subsets. If there are more

h than 7 or 8 in a group, further separate them into, for example, “good‐plus”, and “good minus” Rank the and good‐minus . Rank the projects in a subset. Arrange the subsets in order of rank to obtain the list of orders to obtain the list of orders.

21

Numeric Selection Methods Numeric Selection Methods

 Financial assessment methods  Financial assessment methods

• payback period

di d h fl

• discounted cash flow
• opportunity cost analysis

 Scoring methods

• unweighted 0‐1 factor method

unweighted 0 1 factor method

• weighted factor scoring method

22

Payback Period Payback Period

The Payback Period represents the amount of time that it The Payback Period represents the amount of time that it takes for a Capital Budgeting project to recover its initial cost.

Inflows Cash Net Annual Investment Fixed Initial  n Inflows Cash Net Annual

Example ‐ A project with an initial investment of $100,000 and an annual return of $25,000 each year, the payback period, n = $100,000/$25,000 = 4 years. p , $ , /$ , y

* Problem – not consider time value of money

23

Discounted Cash Flow Discounted Cash Flow



 

n t

F I

• (project)

NPV





  

t t

k

1

) 1 ( I

• (project)

NPV

where I0 = the initial investment Ft = the net cash flow in period t k = the required rate of return or hurdle rate q

24

Discounted Cash Flow ‐ Example

PsychoCeramic Science, Inc. – Prepare a net present

Discounted Cash Flow Example

worth analysis using an interest rate of 13% and an inflation rate of 2%

$50 $105 $115 $90 $97 $75 $82 $65 $35 1 3 9 1 1 1 1 2 1 4 1 8 1 6 1 7 1 9 1 5 $90 $125 $100 $90

NPV = ‐$125,000‐$100,000(1+0.13+.02)‐1‐$90,000((1+0.13+.02)‐2 +$50 000((1+0 13+ 02)‐3 + + ($65 000+$35 000)((1+0 13+ 02)‐10 +$50,000((1+0.13+.02) + ….+ ($65,000+$35,000)((1+0.13+.02) = $17,996.77 Since NPV >0, select the project

25

Discounted Cash Flow ‐ Example Discounted Cash Flow Example

A B C D E F G

Discount Factor

NPV Inflation Year Inflow Outflow Net Flow

1/(1 + i + p)t

D x E Rate (p) 2010* 0.00 125,000.00 -125,000.00 1.0000

• 125,000.00

0.02 2010 0.00 100,000.00 -100,000.00 0.8696

• 86,956.52

0.02 2011 0.00 90,000.00

• 90,000.00

0.7561

• 68,052.93

0.02 2012 50,000.00 0.00 50,000.00 0.6575 32,875.81 0.02 2013 120,000.00 15,000.00 105,000.00 0.5718 60,034.09 0.02 2014 115 000 00 0 00 115 000 00 0 4972 57 175 32 0 02 2014 115,000.00 0.00 115,000.00 0.4972 57,175.32 0.02 2015 105,000.00 15,000.00 90,000.00 0.4323 38,909.48 0.02 2016 97,000.00 0.00 97,000.00 0.3759 36,465.89 0.02 2017 90 000 00 15 000 00 75 000 00 0 3269 24 517 63 0 02 2017 90,000.00 15,000.00 75,000.00 0.3269 24,517.63 0.02 2018 82,000.00 82,000.00 0.2843 23,309.52 0.02 2019 65,000.00 65,000.00 0.2472 16,067.01 0.02 2019 35,000.00 35,000.00 0.2472 8,651.46 0.02 , , , Total 759,000.00 360,000.00 399,000.00 17,996.77

26

Opportunity Cost Analysis Opportunity Cost Analysis

Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone g (that is not chosen). It is the sacrifice related to the second best choice available to someone, or group, who has picked among several mutually exclusive choices picked among several mutually exclusive choices. For example, if an asset such as capital is used for one h h l f h b purpose, the opportunity cost is the value of the next best purpose the asset could have been used for. Opportunity cost analysis is an important part of a company's decision‐ y p p p y making processes, but is not treated as an actual cost in any financial statement.

27

Opportunity Cost Analysis – An Example Opportunity Cost Analysis An Example

 Noel has just graduated from medical college and has been offered a job at a prestigious hospital in town with $45, 000 a year. His uncle, who runs a health care and fitness center has also offered him a position for $35 000 a year However and fitness center, has also offered him a position for $35, 000 a year. However, Noel chose to enroll for a medical research program at a local university, which would cost him $38, 000 a year.

Solution: Number of Economic Alternatives = 3 ($45, 000 job, $35, 000 job and ‐

$38, 000 research program) Desired Alternative 38 000 Desired Alternative = ‐ 38, 000 Next Best Alternative = 45, 000 Since, Opportunity Cost = Cost of Selected Alternative ‐ Cost of Next Best Alternative Therefore, Opportunity Cost = ‐38, 000 ‐45, 000 = ‐83, 000 Hence his opportunity cost not only includes the cost his Desired Alternative Hence, his opportunity cost not only includes the cost his Desired Alternative would incur but also the value of the Next Best Alternative which he gives up.

28

The Weighted Scoring Model The Weighted Scoring Model





n

w s S







j j ij i

w s S

1

where where Si = the total score of the ith project s = the score of the ith project on the jth criterion sij = the score of the ith project on the jth criterion wj = the weight or importance of the jth criterion

29

Weighted Scoring Model‐ Example

 A college student needs to purchase a car. There are two i i i “ ” d “ li bili ” d hi l

Weighted Scoring Model Example

primary criteria, “cost” and “reliability”, and everything else a “nicety”. Three alternatives are identified. A 5‐point scale is used in each criterion.

Criteria Cost Reliability Niceties Weights 0 4 0 4 0 2 Weights 0.4 0.4 0.2 Alternative Total A 3 2 4 2.8 B 2 4 1 2.6 C 4 3 1 3 0 C 4 3 1 3.0

←

30

Uncertainties Encountered in Project Management

 Time required to complete a project  l b l d f k  Availability and cost of key resources  Timing of solutions to technological problems problems  Macroeconomic variables  The whims of clients  The whims of clients  Actions taken by competitors

31

Can Uncertainty be Eliminated? Can Uncertainty be Eliminated?

 No … uncertainty cannot be

• eliminated. However, if managed

properly, it can be minimized p p y,

32

Risk Analysis Risk Analysis

Estimate probabilities or distributions associated with key parameters associated with key parameters Construct a mathematical model of the i i d i l i i i situation and run a simulation ... given various scenarios Analyze distribution of outcomes generated by model

33

Risk Analysis with Crystal Ball

 Assumption Cells  Distribution Gallery  Forecast Cells

34

Risk Analysis with Crystal Ball

An Example

PsychoCeramic Science, Inc. – Considering the installation of a new manufacturing line with the following cash flows –

End of Year Inflow Outflow Net Flow End of Year Inflow Outflow Net Flow 2009 0.00 125,000.00 -125,000.00 2015 105,000.00 15,000.00 90,000.00 2010 0.00 100,000.00 -100,000.00 2016 97,000.00 0.00 97,000.00 2011 0.00 90,000.00

• 90,000.00

2017 90,000.00 15,000.00 75,000.00 2012 50,000.00 0.00 50,000.00 2018 82,000.00 0.00 82,000.00 2013 120,000.00 15,000.00 105,000.00 2019 65,000.00 0.00 65,000.00 2014 115,000.00 0.00 115,000.00 2019 35,000.00 0.00 35,000.00

35

Risk Analysis with Crystal Ball

PsychoCeramic Science, Inc. – Prepare a net present worth analysis using an interest rate of 13% and an inflation rate of 2%

$50 $105 $115 $90 $97 $75 $82 $65 $35 1 3 9 1 1 1 1 2 1 4 1 8 1 6 1 7 1 9 1 5 $90 $125 $100 $90

NPV = ‐$125,000‐$100,000(1+0.13+.02)‐1‐$90,000((1+0.13+.02)‐2 +$50 000((1+0 13+ 02)‐3 + + ($65 000+$35 000)((1+0 13+ 02)‐10 +$50,000((1+0.13+.02) + ….+ ($65,000+$35,000)((1+0.13+.02) = $17,996.77 Since NPV >0, select the project

36

Risk Analysis with Crystal Ball

 PsychoCeramic Science, Inc. – Pessimistic, Most Likely, and Optimistic Estimates for Cash Inflows

Minimum Most Likely Maximum End of Minimum Most Likely Maximum End of Year Inflow Inflow Inflow Year Inflow Inflow Inflow 2012 $35,000.00 50,000.00 60,000.00 2017 75,000.00 90,000.00 100,000.00 2013 95,000.00 120,000.00 136,000.00 2018 67,000.00 82,000.00 91,000.00 2014 100,000.00 115,000.00 125,000.00 2019 51,000.00 65,000.00 73,000.00 2015 88,000.00 105,000.00 116,000.00 2019 30,000.00 35,000.00 38,000.00 2016 80,000.00 97,000.00 108,000.00

• Use BetaPERT distribution as the p.d.f. for the inflow
• Use Normal distribution as the p.d.f. for inflation rate with a mean of

Use Normal distribution as the p.d.f. for inflation rate with a mean of 0.02 and a std. dev. Of 0.0033

37

Risk Analysis with Crystal Ball

 PsychoCeramic Science, Inc. –

38

Risk Analysis with Crystal Ball

 PsychoCeramic Science, Inc. –

Statistics Net Present Value of Project Trials 1000 Base Case 17,996.77 Mean 14,423.78 Median 14,558.57 Mode

• Standard Deviation

6 963 06 Standard Deviation 6,963.06 Variance 48,484,240.19 Skewness

• 0.1192

Kurtosis 2.86

• Coeff. of Variability

0.4827 Minimum

• 6,805.37

Maximum 35,540.09 R Width 42 345 46 Range Width 42,345.46 Mean Std. Error 220.19

39

Steps in the Project Portfolio Process (PPP)

PPP Attempts to link the organization’s projects directly to the goals and strategy of the organization is also a means for goals and strategy of the organization … is also a means for monitoring and controlling the organization’s strategic projects. Steps are ‐

Establish a project council Identify project categories and criteria C ll j d Collect project data Assess resource availability Reduce the project and criteria set  h h Prioritize the projects within categories Select the projects to be funded and those to be held in reserve Implement the process Implement the process

40

Categories of Projects Categories of Projects

Derivative projects … those that are only Derivative projects … those that are only incrementally different from existing offerings Platform projects … major departures from Platform projects … major departures from existing offerings … the next generation Breakthrough projects … involving a newer Breakthrough projects … involving a newer technology … possibly a “disruptive” technology R&D projects … “blue sky” or visionary endeavors

41

The Aggregate Project Plan The Aggregate Project Plan

42

Murphy’s Laws in Project Management Murphy s Laws in Project Management

Projects progress quickly until they are 90% complete. j p g q y y p Then they remain at 90% complete forever. When things are going well, something will go wrong. When things just can’t get worse, they will. When things appear to be going better, you have

• verlooked something.

If project content is allowed to change freely, the rate of change will exceed the rate of progress. Project teams detest progress reporting because it if h i l k f manifests their lack of progress.

43

• 2. The Manager, the Organization,

and the Team and the Team

44

Project Manager’s Job Project Manager s Job

Make sure that the project is properly planned, p j p p y p , implemented, and completed. The hard parts The hard parts ‐  Playing the many roles of PM.  Negotiating with stubborn functional managers and clients.  Keeping the peace among project team members.  Dealing with senior managers  Dealing with senior managers.  Being surrounded by the chaos of trying to run the project in the organization.

45

Project Manager’s Roles Project Manager s Roles

 Manager‐as‐facilitator versus manager‐as‐ g g

• supervisor. PM is usually not a competent overseer in various areas
• f the project and thus had a different role – the facilitator.

 Use of a systems approach as opposed to an  Use of a systems approach as opposed to an analytical approach that could lead to

• suboptimization. Study the bits and pieces in the system and

how they fit together, how they interact, and how they affect and are affected by their environment.

 Avoid micromanagement, one of the deadly managerial sins. g ,  Communicate … ensure that project team members have appropriate knowledge and

• resources. Responsible to the project team, to senior management,

to the client, and to any other stake holders.

46

Manager as Communicator Manager as Communicator

Communication paths between a project’s parties‐ at‐interest

Solid line – the PM’s communication channels. Dotted line – other communication path bypassing PM.

47

Virtual Project Manager Virtual Project Manager

 Geographically dispersed project teams. For  Geographically dispersed project teams. For

example, aircraft production, many parts are carried out by different organizations in different locations.

 C i i i  Communication via

• email
• web
• web
• telephone
• video conferencing

video conferencing

In order for virtual project to succeed, communication between PM and project team must be frequent, open , and two way.

48

Project Manager’s Golden Rule

“Never let the boss be surprised ”

Never let the boss be surprised.

It’s the PM’s job to keep senior management up to date on the state of the project, and keep them informed about the problems affecting the project.

49

Project Manager’s Responsibilities Project Manager s Responsibilities to the Project

Three overriding responsibilities ‐ Acquiring resources

• Is not difficult but getting necessary quantity and quality can be key challenges
• Is not difficult but getting necessary quantity and quality can be key challenges
• Hard to get competent human resource as department managers would not want to

release them.

Fighting fires and obstacles g g

• Initially, often links to the need for resources.
• As the project progresses, associated with technical problems, supplier problems, and

client problems.

L d hi d ki d ff Leadership and making trade‐offs

• Making trade‐offs between project cost, schedule, and scope.
• Among the three goals, scope is usually the most important, followed by schedule, and

then cost. then cost.

• Trade‐offs could be between different projects, adding to one and reduce for another.

50

Essential Skills of Project Manager Essential Skills of Project Manager

It is not possible for the PM to meet these responsibilities without being a skilled negotiator and a resolver of conflict.

Need ability to: Need ability to:

• negotiate
• resolve conflicts
• resolve conflicts
• persuade
• Four essential parts, 1. credible, 2. have common goals, 3. use vivid

p , , g , language and compelling evidence, and 4. connect with those they try to pursuade. (Jay Conger, 1998)

• avoid “irrational optimism”

p

51

Growing Importance of l i l l j Multicultural Projects

Project managers have to be aware of cultural Project managers have to be aware of cultural differences between countries Common practice in one country may be illegal Common practice in one country may be illegal in another

 P i t ffi i l t f t t k  Paying a government official to fast track an approval, leaving out obvious information in a bid, inviting a client to dinner etc inviting a client to dinner, etc.  Project managers have to be trained to the highest ethical standards ethical standards

52

Factors Increasing the Importance f j

• f Projects

 Emphasis on time‐to‐market  Emphasis on time to market  Need for specialized knowledge from a variety of areas variety of areas  Explosive rate of technological change i id i require system‐wide responsiveness  Need for accountability and control  Rapid growth of globalized industry

53

The Pure Project Organization The Pure Project Organization

President VP VP Project Manager VP Marketing VP Manufacturing VP R&D

M k ti

Manager Project A

Marketing Manufacturing R&D Human Resources M k i

Manager Project B

Marketing Manufacturing R&D Human Resources 54

The Pure Project Organization The Pure Project Organization

Advantages Advantages

• effective and efficient for large projects
• resources available as needed
• broad range of specialists
• broad range of specialists
• short lines of communication

Drawbacks

i f ll j t t i d d

• expensive for small projects, not everyone is needed

all the time.

• specialists may have limited technological depth, and

if so, need to hire additional specialists. if so, need to hire additional specialists.

• may require high levels of duplication for certain

specialties in the parent organization

• “projectitis” – people got attached to a project

p j p p g p j

55

Functional Project Organization Functional Project Organization

President President Manufacturing Marketing R & D Human Resources Finance Project

56

The Functional Project Organization The Functional Project Organization

 Advantages

• Embedded in the functional group

I di t di t d l t t i d th

• Immediate, direct, and complete access to in‐depth

technology

• Minimize the fractional need problem and “projectitis”

symptom symptom

 Drawbacks

• lines of communication outside functional department

can be slow

• technological breadth can be missing
• project rarely be given high priority in the division

p j y g g p y

57

Matrix Project Organization j g

President Program Manager Manufacturing Marketing Finance R&D Human R Manager PM1 3 Marketing 1 ½ ½ 4 Resources ½ PM2 PM3 1 4 1/2 ¼ 3 1 ½ 1/2 ¼ 1 PM3 1/2 3 1/2 1

Two distinct levels – vertical functional hierarchy and horizontal project structure overlay the functional hierarchy.

58

Matrix Project Organization Matrix Project Organization

 Advantages  Advantages

• flexibility in the way it can interface with parent organization
• Has access to any or all of the parent organization’s technology.
• Far less expensive than pure project organization
• strong focus on the project itself
• contact with functional groups minimizes “projectitis”
• ability to manage fundamental trade‐offs across several projects

 Drawbacks  Drawbacks

• violation of the unity of command principle – for each subordinate,

there shall be one and only one superior. The individual specialist has two bosses, the project manager and the functional manager.

• complexity of managing the organization’s full set of projects
• complexity of managing the organization s full set of projects
• intrateam conflict, individuals are often committed to their

functional area rather than to the project. Same people is expected to be at different projects and functional area at the same time.

59

Mixed Project Organization Mixed Project Organization

President Project M Finance Engineering Project Z Manufacturing

60

Project Management Offices Project Management Offices

 There is another way of solving the problems of choosing one

• r another organizational form … setting up a project

management office (PMO) … act as staff to some or all projects … shall never replace PM as officer in charge of the project … useful for small project with short lives.  There can be several different types of PMOs in large firms … with different and sometimes overlapping areas of operations with different and sometimes overlapping areas of operations

• CPMO (corporate project management office)
• EPMO (enterprise project management office)

 Project management maturity could be measured by PMI’s  Project management maturity could be measured by PMI s OPM3 (Organizational Project Management Maturity Model)

• r other models.

61

Characteristics of Effective Project j Team Members

 Team members must be/have:

• technically competent

y p

• politically sensitive (for senior members)
• problem oriented
• goal oriented (could not succeed if view it as a 9 to 5 job)
• high self‐esteem
• sufficient trust in their fellow team members

sufficient trust in their fellow team members

62

Project Management as A Profession Project Management as A Profession

 Project Management Institute (PMI), founded in 1969, is a project‐oriented organization with more than 300 000 members worldwide more than 300,000 members worldwide www.pmi.org  PMI publishes The Project Management Body of l d ( ) d j Knowledge (PMBOK), and Project Management Journal and PM Network  Certification – Project Management Professionals  Certification Project Management Professionals (PMPs) and Certified Associates in Project Management (CAPM)

63