Summary

References:Lecture Note

•As the number and complexity of projects continue to grow, it is becoming even more important to practice good project management.
•A project has several attributes, such as being unique, temporary and developed incrementally.
•A framework for project management includes project stakeholders, the nine knowledge areas, tools and techniques, and creating project portfolios to ensure enterprise success.
•Successful project managers must possess and development many skills and lead their teams by example.
•The project management profession continues to mature as more people become certified and more tools are created.

Importance of Leadership Skills

References:Lecture Note

•Effective project managers provide leadership by example.
•A leader focuses on long-term goals and big-picture objectives while inspiring people to reach those goals.
•A manager deals with the day-to-day details of meeting specific goals.
•Project managers often take on both leader and manager roles.

Most Significant Characteristics of Effective and Ineffective Project Managers

References:Lecture Note

Effective Project Managers

• Leadership by example
• Visionary
• Technically competent
• Decisive
• Good communicator
• Good motivator
• Stands up to upper management when necessary
• Supports team members
• Encourages new ideas

Ineffective Project Managers

• Sets bad example
• Not self-assured
• Lacks technical expertise
• Poor communicator
• Poor motivator

Media Snapshot – Good Project Management Skills from The Apprentice

•Leadership and professionalism are crucial.
•Know what your sponsor expects from the project, and learn from your mistakes.
•Trust your team and delegate decisions.
•Know the business.
•Stand up for yourself.

•Be a team player.
•Stay organized and don’t be overly emotional.
•Work on projects and for people you believe in.
•Think outside the box.
•There is some luck involved in project management, and you should always aim high.

Suggested Skills for Project Managers

References: Lecture Note


•Project managers need a wide variety of skills.
•They should:
–Be comfortable with change.
–Understand the organizations they work in and with.
–Lead teams to accomplish project goals.

•Project managers need both “hard” and “soft” skills.
–Hard skills include product knowledge and knowing how to use various project management tools and techniques.
–Soft skills include being able to work with various types of people.

•Communication skills: Listens, persuades.
•Organizational skills: Plans, sets goals, analyzes.
•Team-building skills: Shows empathy, motivates, promotes esprit de corps.
•Leadership skills: Sets examples, provides vision (big picture), delegates, positive, energetic.
•Coping skills: Flexible, creative, patient, persistent.
•Technology skills: Experience, project knowledge.

Fifteen Project Management Job Functions*

References: Lecture Note
•Define scope of project.
•Identify stakeholders, decision-makers, and escalation procedures.
•Develop detailed task list (work breakdown structures).
•Estimate time requirements.
•Develop initial project management flow chart.
•Identify required resources and budget.

•Evaluate project requirements.
•Identify and evaluate risks.
•Prepare contingency plan.
•Identify interdependencies.
•Identify and track critical milestones.
•Participate in project phase review.
•Secure needed resources.
•Manage the change control process.
•Report project status.


*Northwest Center for Emerging Technologies, “Building a Foundation for Tomorrow: Skills Standards for Information Technology,” Belleview, WA, 1999.

The Role of the Project Manager

References:Lecture note

•Job descriptions vary, but most include responsibilities such as planning, scheduling, coordinating, and working with people to achieve project goals.
•Remember that 97 percent of successful projects were led by experienced project managers.

What the Winners Do*

References:Lecture Note

Recent research findings show that companies that excel in project delivery capability:

• Use an integrated project management toolbox that includes standard and advanced tools and lots of templates.
• Grow project leaders, emphasizing business and soft skills.
• Develop a streamlined project delivery process.
• Measure project health using metrics, including customer satisfaction and return on investment.

*Milosevic, Dragan and And Ozbay, “Delivering Projects: What the Winners Do,” Proceedings
of the Project Management Institute Annual Seminars & Symposium (November 2001).

Extreme Project Management (XPM)

References:Lecture Note

•A new approach and philosophy to project management that is becoming increasingly popular.
•Characterizes many of today’s projects that exemplify speed, uncertainty, changing requirements and high risks.
•Traditional project management often takes an orderly approach while XPM embraces the fact that projects are often chaotic and unpredictable.
•XPM focuses on flexibility, adaptability and innovation
•Traditional and new approaches together can provide us with a better understanding of how to improve the likelihood of project success.

Putting the SDLC into Practice

References:Lecture Note

•Structured Approach to Systems Development
–Waterfall Method
•Rapid Applications Development (RAD)
–Prototyping
–Spiral Development
–Extreme Programming

The Relationship Between the PLC and the SDLC

References:Lecture Note

•The systems development life cycle (SDLC) becomes part of the project life cycle (PLC).
–The PLC focuses on the project management phases, processes, tools and techniques for effectively managing the project.
–The SDLC focuses on the software engineering phases, processes, tools and techniques for building and/or implementing the IT solution.

Systems Development Life Cycle (SDLC)

References:Leture Note

•Represents the sequential phases or stages an information system follows throughout its useful life
•Useful for understanding the development of the project’s largest work product – the application system
•Phases/Stages
–Planning
–Analysis
–Design
–Implementation
–Maintenance and Support

The Project Life Cycle and IT Development

References:Lecture Note

•Project Life Cycle (PLC)
–A collection of logical stages or phases that maps the life of a project from its beginning to its end in order to define, build and deliver the product of the project – i.e., the information system
•Projects are divided into phases to increase manageability and reduce risk
–Phase exits, stage gates, or kill points are decision points at the end of each phase to evaluate performance, correct problems or cancel the project
–Fast tracking is the overlapping of phases to reduce the project’s schedule
•Can be risky!

Generic Project Life Cycle

Project Stakeholders

References:Lecture Note


•Stakeholders are the people involved in or affected by project activities.
•Stakeholders include:
–Project sponsor
–Project manager
–Project team
–Support staff
–Customers
–Users
–Suppliers
–Opponents to the project

Project Management Framework

References:Lecture Note

Nine Project Management Knowledge Areas

References:Lecture Note


•Knowledge areas describe the key competencies that project managers must develop.
–Four core knowledge areas lead to specific project objectives (scope, time, cost, and quality).
–Four facilitating knowledge areas are the means through which the project objectives are achieved (human resources, communication, risk, and procurement management).
–One knowledge area (project integration management) affects and is affected by all of the other knowledge areas.
–All knowledge areas are important!

PMBOK®

References:Lecture Note

The Project Management Body of Knowledge (PMBOK®)

•The Guide to the Project Management Body of Knowledge (PMBOK® Guide) documents 9 project management knowledge areas.
•The PMBOK® Guide is published and maintained by the Project Management Institute (PMI).
–http://www.pmi.org/
•PMI provides a certification in project management called the Project Management Professional (PMP) that many people today believe will be as relevant as a CPA certification.
•PMP certification requires that you pass a PMP certification exam to demonstrate a level of understanding about project management, as well as satisfy education and experience requirements, and agree to a professional code of conduct.


PMBOK® Knowledge Areas

1.Project Integration Management
2.Project Scope Management
3.Project Time Management
4.Project Cost Management
5.Project Quality Management
6.Project Human Resources Management
7.Project Communications Management
8.Project Risk Management
9.Project Procurement Management

Advantages of Using Formal-Project Management

References:Lecture Note


•Better control of financial, physical, and human resources.
•Improved customer relations.
•Shorter development times.
•Lower costs.
•Higher quality and increased reliability.
•Higher profit margins.
•Improved productivity.
•Better internal coordination.
•Higher worker morale (less stress).

What is Project Management?

References:Lecture Note


•Project management is “the application of knowledge, skills, tools and techniques to project activities to meet project requirements.” *


*PMI, A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) (2004), p. 8.
c

The Triple Constraint

References:Lecture Note

•Every project is constrained in different ways by its:
–Scope goals: What work will be done?
–Time goals: How long should it take to complete?
–Cost goals: What should it cost?
•It is the project manager’s duty to balance these three often-competing goals.

The Triple Constraint of Project Management

Successful project management means meeting all three goals (scope, time, and cost) – and satisfying the project’s sponsor!

The Context of Project Management – Project Attributes

References:Lecture Note


•Time Frame
•Purpose (to provide value!)
•Ownership
•Resources (the triple constraint)
•Roles
–Project Manager
–Project Sponsor
–SME (domain & technical)
•Risk & Assumptions
•Interdependent Tasks
•Planned Organizational Change
•Operate in Environments Larger than the Project Itself

The Context of Project Management

References:Lecture Note


•Definitions:
–A project is a temporary endeavor undertaken to accomplish a unique purpose.
–Project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed project requirements


Project Attributes


•A project:
–Has a unique purpose.
–Is temporary.
–Is developed using progressive elaboration.
–Requires resources, often from various areas.
–Should have a primary customer or sponsor.
•The project sponsor usually provides the direction and funding for the project.
–Involves uncertainty.



Project and Program Managers


•Project managers work with project sponsors, project teams, and other people involved in projects to meet project goals.
•Program: “A group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually.” *
•Program managers oversee programs and often act as bosses for project managers.


*PMI, A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) (2004), p. 16.

Examples of IT Projects

References:Lecture Note


•A help desk or technical worker replaces laptops for a small department.
•A small software development team adds a new feature to an internal software application.
•A college campus upgrades its technology infrastructure to provide wireless Internet access.

•A cross-functional task force in a company decides what software to purchase and how it will be implemented.
•A television network develops a system to allow viewers to vote for contestants and provide other feedback on programs.
•A government group develops a system to track child immunizations.

What Is a Project?

References:Lecture Note


•A project is “a temporary endeavor undertaken to create a unique product, service, or result.” *
•Operations is work done to sustain the business.
•A project ends when its objectives have been reached, or the project has been terminated.
•Projects can be large or small and take a short or long time to complete.


*PMI, A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) (2004), p. 5.

Improving the likelihood of success

References: Lecture Note

•Socio-technical Approach
•Project Management Approach
–processes and infrastructure (Methodology)
–resources
–expectations
–competition
–efficiency and effectiveness
•Knowledge Management Approach
–lessons learned, best practices and shared knowledge

Why Do IT Projects Fail?

References:Lecture Note


•Larger projects have the lowest success rate and appear to be more risky than medium and smaller projects
–Technology, business models and markets change so rapidly that a project that takes more than a year can be obsolete before they are completed.
•The Chaos study also provides some insight as to the factors that influence project success.

The Software Crisis

References:Lecture Note

•The CHAOS study published in 1995 by The Standish Group found that although the U.S spent over $250 billion on IT projects, approximately…
–31% were cancelled before completion
–53% were completed but over budget, over schedule, and did not meet original specifications.
•For mid-size companies, average cost overruns were 182%, while average schedule overruns were 202%!

ITPM Approach

References: Lecture Note

ITPM Approach

•Organizational resources are limited, so organizations must choose among competing interests to fund specific projects.
•This decision should be based on the value a competing project will provide to an organization.


Which Situation is Worse?


•Successfully building and implementing a system that provides little or no value to the organization.
Or…
•Failing to implement an information system that could have provided value to the organization, but was poorly developed or poorly managed.

Project Management Overview

References: Lecture Note

Introduction


•Many organizations today have a new or renewed interest in project management.
•Computer hardware, software, networks, and the use of interdisciplinary and global work teams have radically changed the work environment.
•The U.S. spends $2.3 trillion on projects every year, or one-quarter its gross domestic product, and the world as a whole spends nearly $10 trillion of its $40.7 gross product on projects of all kinds.*

*PMI, The PMI Project Management Fact Book, Second Edition, 2001


•Information Technology (IT) projects are organizational investments that require
–Time
–Money
–Other resources such as people, technology, facilities, etc.
•Organizations expect some type of value in return of this investment
•IT Project Management is a relatively new discipline that combines traditional Project Management with Software Engineering/Management Information Systems to make IT projects more successful.

Summary

References: Mohamed Dahlan Ibrahim, Ph.D

•Technopreneurship is a process through which individuals and teams bring together the necessary resources to exploit opportunities and in doing so create wealth, social benefits and prosperity.
•The role of technopreneur as agent of economic growth.
•The technopreneur must know how to use knowledge to create innovation and new firms.
•The level of economic prosperity of a nation is determined by the level of entrepreneurial activity which flows from a combination of entrepreneurial capital and intellectual capital.

Factors leading to entrepreneurial success

References: Mohamed Dahlan Ibrahim, Ph.D

•Ability to initiate and operate a purposeful enterprise
•Ability to operate within the context and industrial environment at the time of initiation
•Ability to identify and screen timely opportunities
•Ability to accumulate and manage knowledge and technology

•Ability to mobilize resources – financial, physical, and human
•Ability to assess and mitigate uncertainty and risk associated with the initiation of the enterprise
•Ability to provide an innovative contribution that encompasses novelty and originality
•Ability to encourage a collaborative team of people who have the capabilities and knowledge necessary for success

Successful traits of technopreneur

References: Mohamed Dahlan Ibrahim, Ph.D

•Integrity
•Leadership
•Impatient: bias toward action (with analysis)
•Quick clock speed
•Modest ego. Seeks and accepts coaching
•Willing to be different, but knows it (not oblivious)
•Pragmatic: willing to compromise
•Rejoices in other’s victories
•Driven to solve a valuable problem for customers
•Strong entrepreneurial intensity
•Willingness to incur the costs of growth
•Willingness to use wide range of financing sources
•Emphasis on a team-based organizing structure
•Focus on innovation
•Committed to commercialization of technology discovery
•Excellent communication skills
•Understand the value of business principles
–Formation and execution of a sound business plan
–Raising of money
–Building an organizational team

Entrepreneurs vs. Technopreneurs (Similarities)

References: Mohamed Dahlan Ibrahim, Ph.D


•Is able to determine risk and has the courage to take risks
•Is independent and self-confident, yet knows where to get help
•Likes a challenge
•Hardworking and willing to stick with a project
•Is not easily discouraged
•Maintains good health, has lots of energy and can handle stress
•Has a strong sense of self-worth
•Is a positive thinker who does dwell on setbacks
•Often has a close friend or relative who owns a business

Entrepreneurs vs. Technopreneurs (Differences)

References: Mohamed Dahlan Ibrahim, Ph.D

Entrepreneur
•Likes to compete
•Is a self-starter
•Is able to do many things at once
•Is creative, and has dreams and goals
•Likes to work for him or herself and be in control
•Is motivated by a strong desire to achieve and attain financial success
•Focuses his/her attention on the chances of success rather than the possibility of failure

Technopreneur
•Likes to innovate
•Is part of a team
•Is able to do many things at once, but chooses to delegate
•Is innovative and has a greater vision
•Likes to be the one to control innovation and be part of an evolution
•Is motivated by a strong vision and his passion to innovate
•Takes failure in stride and knows it will lead to success if correction can be made

What is entrepreneurship?

References: Mohamed Dahlan Ibrahim, Ph.D

•The entrepreneur searches for change, responds to it, and exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service (Drucker, 1985)


•Creating the “New” and destroying the “Old”
–New knowledge
–New products
–New processes
–New services
–New markets
–New business models
–New raw materials

Who is the technopreneur?

References: Mohamed Dahlan Ibrahim, Ph.D



•Someone who perceives an opportunity and creates an organization to pursue it.

•A person who undertakes risks (by creating an enterprise or business) that has the chance of profit (or success). Technopreneurs distinguishes themselves through their ability to accumulate and manage knowledge, as well as their ability to mobilize resources to achieve a specified business or social goal (Kuemmerle, 2002)

•The technopreneur is a bold, imaginative deviator from established business methods and practices who constantly seeks the opportunity to commercialize new products, technologies, processes, and arrangements (Baumol, 2002)

•The technopreneur distinguishes logic from tradition, tradition from prejudice, prejudice from common sense and common sense from nonsense while integrating a variety of ideas from diverse groups and disciplines (Manuel Cereijo, 2002)

Technopreneur and the Economy

References: Mohamed Dahlan Ibrahim, Ph.D

•Three elements of the intellectual capital

–Human capital

•The skills, capabilities, and knowledge of the firm’s people.

–Organizational capital

•The patents, technologies, processes, databases and networks

–Social capital

•The quality of the relationships with customers, suppliers and partners

What is technological entrepreneurship?

References: Mohamed Dahlan Ibrahim, Ph.D

What is technological entrepreneurship?


•It is a process of merging technology prowess and entrepreneurial talent and skills


Technology + Entrepreneurship = Technopreneurship