Project Management Basics – Chapter 1 - Overview
The best way to predict the future is to create it.” Peter Drucker, Management Consultant and Author
“Business opportunities are like buses, there’s always another one coming.” – Richard Branson, Founder of Virgin Group
Why do we start projects?
The PMBOK® tells us that a project is a “temporary endeavor undertaken to create a unique product, service or result.” But why do we do them? The PMBOK® answers that question by stating that projects are done to drive change, enable business value creation or to meet regulatory, legal, or social requirements.
That’s a great test answer, but how do I know if I have an opportunity to do any of those things? And if I have a couple of options, how do I know which one to pick?
Assuming I have completed all those tasks and we have a funded project, how do I strategically align the project and ensure that it continues to remain aligned as I execute against the project management plan? If I am involved in an agile project, how do I ensure I am delivering the right business benefits?
Finally, how do I determine if the project was successful? What if the project was successful but the deliverable wasn’t? How would I know?
These are basic questions that many organizations have trouble answering, and the basics matter. If you can’t describe why you are doing a project and the expected benefit, you are probably wasting time and money. And you wouldn’t be alone! Below are some statistics from capterra.com:
1. Over 1 in 3 (34%) projects have no baseline.
2. For every $1 billion invested in the United States, $122 million was wasted due to lacking project performance.
3. 75% of business and IT executives anticipate their software projects will fail.
4. 50% of all Project Management Offices (PMOs) close within just three years.
5. Fewer than a third of all projects were successfully completed on time and on budget over the past year.
6. An astounding 97% of organizations believe project management is critical to business performance and organizational success.
7. 80% of project management executives don’t know how their projects align with their company’s business strategy.
8. 33% of projects fail because of a lack of involvement from senior management.
This series is going to get back to the basics, starting with a "needs assessment".
I hope you follow along.
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