The Importance of Project Management for Industries

Topics: Project management, Management, Earned value management Pages: 9 (2037 words) Published: July 24, 2015

Project Management

Post-Graduate Diploma in Business Management

(Year 2011-13)

Dr. V K Gupta

Institute of Management Technology

Course Background and Objectives:

Project management has become crucial for operations in industries such as construction, information technology, IT, hospitality, and engineering and new product development. At one time project management was limited to civil and construction engineering programs where it was highly quantitative and technical. Modern day project management is applied to all areas with same level of success as in the established fields. The project management is essentially management of change while running a functional or an ongoing business is managing a continuum.

The project management has evolved recently into a full discipline of its own. PMI USA has been a pioneering organization to structure the project management methodology in a formal form. The project management methodology is being applied to projects in all spheres of business and industrial activities as well as in non conventional areas such as hospital, hospitality, space research, banking, healthcare, agro marketing and others.

This course given an insight into the elements of project management, how it relates to the overall long term goals of an organization and how to successfully achieve objective of an organization within constraint of time and cost.

The broad objectives are to learn:
What is project management and why we need to use it
How it relates to organization Strategy
Process of Project portfolio management
Project scope management
Principles of work breakdown structure
Project time and cost management
Leadership and team building in projects
Projects life cycle
Project activity cost and time estimation and scheduling
Projects monitoring and control
Risk management in projects and how to prevent project from failing Managing international projects


The course is delivered through lectures, case discussion, real-life examples and application of techniques learnt through class room case studies and a group project

Course Requirements

i. Since much of the course material requires class discussion, it is important that students are prepared for the class and present and defend your ideas. Preparation for class includes having read the assigned material.

ii. A number of cases will be used in this course. Cases are a great educational experience but they absolutely require that you be ready for the class. When cases are assigned, you should come to class ready to discuss the issues of the case. For each case, you should: a) identify the major problem, b) give your recommendation to resolve this problem (both short and long term), and when appropriate d) provide supporting analysis (both qualitative and quantitative) for your recommendations. Answering the questions provided for each case should help in this effort.

iii. The class will be divided into a number of groups and each group will have 4 students. For all cases, each group will submit case analysis report and power point presentation one day before scheduled class.

iv. There will be several home assignments assigned throughout the Term along with a number of unannounced quizzes. Late homework will not be accepted and there will be no make-up quizzes.

v. Each group is expected to take up a live problem related to supply chain management. You are expected to solve the problem based on tools and techniques discussed in the class and submit your report. Each group will be required to give a presentation. Evaluation for this assignment will be done based on individual as well as group performance.

vi. Class participation will be based on the value you add to the class through your questions, statement, and comments. It is the quality of these that is more important...
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