DISCUSSION QUESTIONS
1. What are some of the principle reasons why project management has become such a popular business tool in recent years?
Competition, product innovations, expanding global markets, and changing consumer tastes are the main reasons for the popularity of project management in business. In recent years, there has been a decrease in the length of time a product is produced. Companies begin to work on their next product even before their current one is barely out of the door. This is a necessary strategy for an organization to remain competitive. Business companies are pressured to come up with new products or product innovations at a shorter amount of time. To respond to the demands, business companies utilize project management as a tool to develop products at a faster pace while being innovative at the same time.
2. What do you see as being the primary challenges to introducing a project management philosophy to most organizations? That is, why is it difficult to shift to a project-based approach in many companies?
A project is temporary, time-bound, and may be implemented by persons not belonging to the same department which would comprise the project team. The project leader may even be someone who is lower in rank but is extremely competent to handle the job. The resistance to the shift from traditional management approach to project management approach is a common problem in many companies. The personnel resist the change because this entails being trained on new processes while maintaining their current positions in the company. Employees also resist the change because the outcome is uncertain.
3. What are the advantages and disadvantages to using project management?
The advantages in project management pertain to goal, customer needs, and innovation. First, a project has a very specific goal which needs to be attained at a given set period. Second, it is carried out to satisfy the requirements of a consumer. Finally, project management is innovative because it would result in new ideas and new products.
However, there are also disadvantages. First, there may be insufficient resources at the implementation stages due to inaccurate cost estimates at the beginning phases. The lack in resources at this crucial stage can even lead to project failure. There are also industries wherein project management may not work. This low success rate is the second disadvantage. The third one is related to personnel. Project management requires staff to be deeply committed to the project.
4. What are the key characteristics all projects possess?
Projects are temporary and time-bound. These are limited in terms of time and resources. Projects are carried out to realize specific goals and strategies of the organization. The processes in implementing projects result in innovation and improvements. The experience of working together in a project motivates team members to maintain a collaborative attitude even after the project has ended. The project ends when the objectives have been attained successfully.
5. Describe the basic elements of the project life cycle. Why is an understanding of the life cycle relevant for our understanding of projects?
The basic elements of the project life cycle are conceptualization, planning, execution, and termination. Conceptualization identifies the project goal, the scope of the work, and the project stakeholders. The required resources are also enumerated at this stage. During the planning stage, project team comes up with time tables, work schedules, and work specifications. It is also during this time that work packages are laid out, assignments issued, and the process to complete the project is clarified. The execution stage is when the actual work is done and majority of expenses is incurred. The execution requires a lot of teamwork. The last stage is termination, the time when the team members part ways and remaining resources reassigned. The completed project is then delivered to the customer.
Understanding the life cycle is important in understanding projects because this enables us to see the details of the project. In going through each phase, the team is able to identify potential problems and would be able to address these issues before these occur or they are able to put in place mitigating measures early on. Understanding the life cycles provides us a better perspective on how project management is different from the traditional corporate processes.
6. Think of a successful project and an unsuccessful project with which you are familiar. What would you say distinguishes the two, both in terms of the process used to develop them and their outcomes?
This question can be answered by students who have project experience. They can pinpoint the reasons for project success of failure. The professors may then facilitate an in-depth discussion about these causes.
7. As organizations seek to become better at managing projects, they often engage in benchmarking with other companies in similar industries. Discuss the concept of benchmarking. What are its goals? How does benchmarking work?
Benchmarking is comparing a company’s own performance with the performance of that considered a leader in the industry. This may be a competitor in the same industry or a firm which has similar procedures or functions of the company. The first step in benchmarking is identifying the leader in the industry and gathering information about that leaders’ performance measures. Then the information would be analyzed. The gaps or shortcomings between the two organizations (leader and own company) would be identified. The benchmarking standards are those that are possessed by the leader. The company would then identify the goals and strategies that would enable it to meet the standards. The goal of benchmarking is to improve the company and make it competitive. It does this by raising the company’s level of performance up to the standards in the industry.
8. What are the primary benefits of developing a comprehensive project scope analysis?
Developing a comprehensive scope analysis is beneficial to the company. This provides a thorough guide in implementing a project. The comprehensive scope analysis transforms the project idea into a working concept. After developing the concept the company can proceed to identify details about the project. As the analysis provides a detailed outline of every step, the project is aligned and the end result or the final product is consistent with the original goals and objectives. The scope analysis makes it possible to produce a quality product, keep to the budget and accomplish the requirements within the given time and specifications.
9. What are the key characteristics of a work package?
The whole project is divided into smaller pieces. Each of these smaller pieces is called a work package. For each work package there is a specific deadline and resource requirements. A supervisor is in-charge of specific work package. Within the work package are several sub-task. Every sub-task would then be assigned to an individual or a group of persons. All these work packages taken together brings the project to completion.
10. What are the benefits of designing a Responsibility Assignment Matrix (RAM) for a project?
The RAM ensures that there is a person accountable for each task. The matrix presents who is responsible for each task and identifies the support members for that as well. On the part of the project manager, he/she is able to assign tasks to the most suitable person depending on that person’s ability, qualification, strength, and weakness. This visual representation shows the chain of command and enhances the flow of communication among members of the team. The group is kept updated about the project status and of potential problems that may surface at a later time. Since the matrix shows who is responsible for what, it is easy for any member of the team to notify the concerned personnel. The RAM is also useful in resolving issues between departments.
11. How do the duties of project managers reinforce the role of leadership?
Good leaders inspire their fellow workers. They are effective communicators and excellent motivators. A project manager is tasked to lead his/her team towards a specific goal. To ensure the smooth implementation of a project, the manager has to communicate clearly and effectively both within the members of the team and with other stakeholders— top level managers and shareholders. Thus, the project manager, because of his duties assume the role of a leader in project management. He/she streamlines project operations through alignment. In turn, alignment is obtained by maintaining effective communication with shareholders, among team members, and upper management.
12. What are the keys to successful project portfolio management?
There are two keys to project portfolio management: flexibility and open communication. Flexibility means being free from layers of authority. When there is an open communication within the company, team members are encouraged to become more innovative. Less-expensive methods are used to test new products or new markets and the transition between projects are smoother and timely.
13. What are some of the key difficulties is successfully implementing portfolio management practices?
There are three key difficulties in the successful implementation of portfolio management practices. The first is related to personnel, specifically the conflict between managers and engineers. A project may appear too risky from the perspective of managers but for engineers this may not be so and they (the engineers) may not agree to alter the project or abandon it. The second concerns investment in projects that are outside portfolio priorities. Despite the realization that the project will not be successful, the company still put money in it. The third problem is lack of resources, which may be not enough personnel to conduct activities or shortage of other resources to initiate new projects.
