M03L08 Slide: 1
Project Managemen
t Fundamenta
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MANAGING SOFTWARE DEVELOPMENT PROJECTS Analysts predict that $3.5 Trillion will be spent
worldwide on IT projects in 2017.
For every $1billion invested in the US$122 million is wasted due to lacking project performance.
75% of business and IT executives anticipate their software project will fail.
Fewer than a third of all projects were successfully completed on time and on budget over the past year.
Slide: 2Gartner Group
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Failed Projects
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The consequences of failed projects include:◦ Damaged brand◦ Lost goodwill◦ Dissolution of
partnerships◦ Lost investment
opportunities◦ Low morale
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The Triple Constraint – Project Management Interdependent Variables
These three variables Time Cost Scope
Are interdependent, you cannot change one without changing the others
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The Triple Constraint Benjamin Franklin’s timeless advice - by failing to prepare,
you prepare to fail - applies to software development projects
The Hackett Group analyzed 2,000 companies and discovered:◦ Three in 10 major IT projects fail◦ 21 percent of the companies state that they cannot adjust rapidly to
market changes◦ One in four validates a business case for IT projects after completion
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The Triple Constraint Common reasons why IT projects fall
behind schedule or fail
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PROJECT MANAGEMENT FUNDAMENTALS Project – temporary
endeavor undertaken to create a unique product, service, or result
Project management – the application of knowledge, skills, tools, and techniques to project activities to meet project requirements
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PROJECT MANAGEMENT FUNDAMENTALS The Project Management Institute (PMI) develops
procedures and concepts necessary to support the profession of project management (www.pmi.org) and has three areas of focus:1. The distinguishing characteristics of a practicing
professional (ethics)2. The content and structure of the profession’s body of
knowledge (standards)3. Recognition of professional attainment (accreditation)
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PROJECT MANAGEMENT FUNDAMENTALS Project deliverable – any measurable, tangible, verifiable
outcome, result, or item that is produced to complete a project
Project milestone – represents key dates when a certain group of activities must be performed
Project manager – an individual who is an expert in project planning and management
Project management office (PMO) – an internal department that oversees all organizational projects
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PROJECT MANAGEMENT FUNDAMENTALS
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SUCCESSFUL PROJECT MANAGEMENT STRATEGIES
Top five successful project management strategies
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Define Project Success
Develop Project Plan
Divide and Conquer
Plan for Change
Manage Project Risk