There is no universal definition of project success. Since the very definition of a project is temporary (Project Management Body of Knowledge, 6th Edition), virtually all projects must meet a deadline and budget. But some projects must satisfy certain stakeholders. Others must meet regulatory criteria. Still others must achieve a certain return on … [Read more...]
In 2005, when Airbus was in the development phase of the A380 Superjumbo, they announced a delay in the delivery of the first jet due to internal software issues. One year later, another delivery delay was announced. This time, however, several executives lost their jobs as the share price tumbled 26%. Could the delay have been avoided? Maybe, but this demonstrates … [Read more...]
Project Management Professional (PMP) certification is the largest and most well known project management designation with 830,000 people certified worldwide. Issued by the Project Management Institute (PMI) based in the United States, it gives you the initials "PMP" after your name. The PMI issues a PMP Handbook which lists all the details. The following overview … [Read more...]
Project initiation is the processes under which the project is created and defined to the extent necessary to begin planning the project. This step involves the project setup, and ensures that the performing organization is clear about the purposes and priorities surrounding the project. There are usually certain issues that require setup, like funding or stakeholder … [Read more...]
Critical path analysis is a method used in project management for optimizing the completion of project tasks. If you need to go to yoga class and buy groceries, but yoga class doesn't start for 2 hours, you should buy the groceries first. The critical path is defined as the list of tasks which determine the completion date of the project. If you need an extra day … [Read more...]
How would you feel if your boss gave you a 23% raise? The Project Management Institute reports that certified project managers earn 23% more than non-certified ones. Job security also increased substantially over the 33,000 professionals surveyed in 37 countries. How do you become part of this club? Well, I've been part of it for 11 years, and in this article I'm … [Read more...]
Like many things in life, project management is an art form as well as a science. But fortunately, a strong knowledge of the science helps you practice the art form with more skill. Although some people are naturally good at the art of project management, I believe that anyone can become a great project manager simply by learning and implementing the fundamentals of … [Read more...]
Like the tiny O-rings that brought down the space shuttle Challenger, one small underestimation often results in a chain reaction that the project can't recover from. Therefore, project planning needs to make sure that enough time is assigned to each task. Once the project has been divided into activities and resources assigned to those activities, the next step is to … [Read more...]
The foundation for project management theory is called process groups. Although relegated to one of many project 'models' in the PMBOK version 7, it is a well established sequence of events which guides the project life cycle as a whole, as well as each iteration within the project. They are not project phases, although phases often result in the full cycle of … [Read more...]
In the Project Management Body of Knowledge (PMBOK) the process groups are the chronological phases that the project goes through, and the knowledge areas occur throughout any time during the process groups. The process groups are horizontal, and the knowledge areas are vertical. They are the core technical subject matter of the project management profession, … [Read more...]
