• Project Management 5th Edition: the Managerial Process / Erik W. Larson, Clifford F. Gary. Copyright 2011.

Topics: Project management, Management, Project Pages: 4 (1221 words) Published: January 31, 2012
Modern Project Management.
1. Project: A project is an effort or endeavor undertaken for a period of time in the purpose to build, create or achieve a unique product, services or result. The Characteristics are:
* It has an established objective.
* It has a defined life span i.e. (Beginning and end)
* It involves the input of several departments and professionals. * It’s Unique, because it is what has never been done before. * It makes vital use of specific time, cost and performance requirement.

First of all, a project must have an objective, whether is to build a new car, a new iphone, a new stadium for the Olympics or new software. This purpose is not common in a day to day organizational activity amongst workers. Secondly, because the objective is specified, therefore its life’s span or end point is different from the regular duties and responsibilities of the traditional or day to day job. That is, an individual can move from one project to the other unlike to stay on one job. Example is when an IT engineer helps to install a security system; he may be assigned to another department. Thirdly, unlike other organizational work that have job specialty, on typical projects, it requires combined efforts and synergy from all specialties. Which means instead of using a closed office, they use an open office policy that allows participations of professionals be you engineer, accountant/ financial analyst, marketing or quality control specialist who work together under the supervision of a project manager to complete the project . Fourthly, because of its uniqueness and its nonroutine, definitely to actualize or accomplish some unique, never done before projects like the hybrid (electric/gas) automobile, cloud computing e.t.c, it entails having a breakthrough in technology and solving the unsolved problems. This means that there will be a degree of customization to bring out its uniqueness. Finally, every project must have a specific time,...
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