bit120 m03 l08 - project management fundamentals

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Project Managemen

t Fundamenta

ls

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MANAGING SOFTWARE DEVELOPMENT PROJECTS Analysts predict that $3.5 Trillion will be spent

worldwide on IT projects in 2017.

For every $1billion invested in the US$122 million is wasted due to lacking project performance.

75% of business and IT executives anticipate their software project will fail.

Fewer than a third of all projects were successfully completed on time and on budget over the past year.

Slide: 2Gartner Group

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Failed Projects

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The consequences of failed projects include:◦ Damaged brand◦ Lost goodwill◦ Dissolution of

partnerships◦ Lost investment

opportunities◦ Low morale

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The Triple Constraint – Project Management Interdependent Variables

These three variables Time Cost Scope

Are interdependent, you cannot change one without changing the others

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The Triple Constraint Benjamin Franklin’s timeless advice - by failing to prepare,

you prepare to fail - applies to software development projects

The Hackett Group analyzed 2,000 companies and discovered:◦ Three in 10 major IT projects fail◦ 21 percent of the companies state that they cannot adjust rapidly to

market changes◦ One in four validates a business case for IT projects after completion

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The Triple Constraint Common reasons why IT projects fall

behind schedule or fail

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PROJECT MANAGEMENT FUNDAMENTALS Project – temporary

endeavor undertaken to create a unique product, service, or result

Project management – the application of knowledge, skills, tools, and techniques to project activities to meet project requirements

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PROJECT MANAGEMENT FUNDAMENTALS The Project Management Institute (PMI) develops

procedures and concepts necessary to support the profession of project management (www.pmi.org) and has three areas of focus:1. The distinguishing characteristics of a practicing

professional (ethics)2. The content and structure of the profession’s body of

knowledge (standards)3. Recognition of professional attainment (accreditation)

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PROJECT MANAGEMENT FUNDAMENTALS Project deliverable – any measurable, tangible, verifiable

outcome, result, or item that is produced to complete a project

Project milestone – represents key dates when a certain group of activities must be performed

Project manager – an individual who is an expert in project planning and management

Project management office (PMO) – an internal department that oversees all organizational projects

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PROJECT MANAGEMENT FUNDAMENTALS

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SUCCESSFUL PROJECT MANAGEMENT STRATEGIES

Top five successful project management strategies

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Define Project Success

Develop Project Plan

Divide and Conquer

Plan for Change

Manage Project Risk