PROJECT MANAGEMENT – USEFUL FACTS

PROJECT MANAGMENT
Almost everything we do in society can be described as a project, from organising a party or constructing a building, to developing a new business or introducing a new social welfare project. Project management as a skill and field of study is essential for successful organisational management. As a formal management function, project management is found in government, industry, and almost all other organisations. Project Management may be called any of a number of other names such as: Program Management, Product Management, Construction Management, and so on.

Project management as a field of action can often be seen in self help schemes or outreach programs. Whatever the objectives, project management involves a number of phases and skills which are essential to a projects completion. To get a better understanding of this process, the term “project management” can be further broken into “project” and “management”.
Some interesting project management facts –
Dell Computers was started by a 19 year old with only $1,000.
Nearly 70% of organisations implementing project managers report that project success rates have improved significantly as a result.
In most advertisements, the time displayed on a watch or clock is usually 10:10
The founder of McDonald’s has a Bachelor degree in Hamburgerology.
Steve Jobs’ annual salary was $1, just enough to keep company health benefits.
Bill Gates, the founder of Microsoft was a college drop out.
Oil tycoon, John D. Rockefeller, was the world’s first billionaire.
The first product that Sony came out with was the rice cooker.
Statistics show that the average baseline IT project cost in the UK is £6M
According to research, building a Project Management Office (PMO) is a timely competitive tactic
Initial planning is the most vital part of a project. The review of most failed projects indicates the disasters were well planned to happen from the start.
If you fail to plan you are planning to fail.
Tasks progress quickly until they become 90 percent complete and then remain at 90 percent forever.
While there never seems to be enough time to do it right the first time, there always seems to enough time to go back and do it again.
Projects happen in two ways: a) Planned and then executed or b) Executed, stopped, planned, and then executed.
Most managers succeed on the skills and strength of their staff.
Too few people on a project can’t solve the problems – too many create more problems than they solve.
A comfortable project manager is one waiting for their next assignment
Everyone asks for a strong project manager – when they get one they don’t want one.
A working meeting has about six people attending. Meetings larger than this are for information transfer.
Wrong decisions made early can be recovered from. Right decisions made late cannot correct them.
The more you plan the luckier you get.
The world as a whole spends (2010) nearly $10 trillion of its $40.7 trillion gross product on projects of all kinds
More than sixteen million people regard project management as their profession
Anecdotal evidence suggests that at least three times as many people use project management disciplines in their regular work practices
Top ten factors contributing to Project Success: Clear goals/objectives, Support from senior management, Adequate funds/resources, Realistic schedule, End user commitment, Effective leadership/conflict resolution, Flexible approach to change, Clear communication channels, Taking account of past experience, and Effective management of risk.
90% of global senior executives and project management experts say good project management is key to delivery successful results and gaining a competitive edge
Do you want to learn more about Project Management, then why not have a look at our Project Management course, which covers –
Lesson Structure
There are 9 lessons in this course:
1. Introduction
o Scope and Value of Project Management
o Understanding what project management is
o The Need for Project Management
o The Project Lifecycle
o Project Identification and Initiating Process
o Project Planning
o Project Implementation, Execution and Control
o Project Completion and Evaluation
2. Project Identification
o Introduction
o Formulating Project Objectives
o Developing a Project Outline
o Assessing a Projects Feasibility
o Feasibility Checklist
o The Identification Test
o Three Types of Risk
3. Project Planning
o Planning Hierarchy
o Planning Parameters
o Planning Quality
o Developing a Strategy Framework
o Project Breakdown Structure
o Planning Time
o The Gantt Chart
o The PERT Chart
o Planning Expense
o Delegating Responsibilities
4. Project Implementation
o Introduction
o Implementation
o Controlling Process
o Applying Standards
o Events Control Chart
o Budget Control Chart
o Monitoring Performance
o Evaluating Performance
o Regulating Process
5. Project Completion and Evaluation
o Introduction
o Why is a Closing Phase Necessary
o Declaring Imminent Completion
o Reassignment of Resources
o Considering Project Sustainability
o Project Assessment; Final Report, Performance Reviews
o Appraising the Project
o Why Projects Succeed or Fail
6. Technical Project Management Skills
o Preparing a Project Proposal
o Proposal Layout
o Drawing Up a Budget
o Constructing a Post Project Appraisal
o Software for Projects; How Project Management Software Works, choosing software
o What Project Management Software Cannot Do
7. Leadership Skills
o Scope and Nature of Leadership
o How to Be A Project Leader
o Visibility & Communications
o Leadership Characteristics
o Leadership Skills
o Improving Leadership Skills
o Giving Directives and Introducing Change
o Orders
8. Improving Key Personnel Skills
o Inevitability of Problems
o Common Problems
o Schedule variations
o Changing priorities
o Administration overload
o Deadline Changes
o Cash blow out
o Inappropriate skills
o Role Confusion
o Exhausted Team
o Politics
o Reduced Motivation
o Communication Breakdown
9. Major Assignment
o Developing full documentation for a project.
View more at – http://www.acsedu.com/courses/project-management-639.aspx
Or the tutors on the course have also written an eBook on Project Management, which you can view at – http://www.acsebooks.com/products/2268-project-management-ebook.aspx
Project management is something that a lot of people do, while not really understanding that this is what they are doing.
In the world of commerce; project management is a skill that can be refined and improved upon through reading, study and experience.

Competent project managers are valued in many, if not all professions.

This eBook is designed to help improve your capacity to manage any type of project in any type of industry. It may be read as a stand alone book; used as something to refer to during the process of managing projects, or used as a complementary reference to help enhance the overall learning experience when studying a project management course.
Tracey Jones
Tutor
ACS Distance Education

About ACS Distance Education

ACS Distance Education was established in 1979 and is a leading post-secondary distance education provider offering over 600 courses via correspondence.
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2 Responses to PROJECT MANAGEMENT – USEFUL FACTS

  1. BoochiCo says:

    Reblogged this on Project Managers and commented:
    Interesting facts about PROJECT MANAGEMENT.

  2. Pingback: Interesting Facts about Project Management | Project Managers

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