Phew! I covered a lot of ground in this chapter. You learned that projects exist to bring about a unique product, service, or result. Projects are temporary in nature and have definite beginning and ending dates.
Stakeholders are those people or organizations that have a vested interest in the outcome of the project. Stakeholders include people such as the project sponsor, the customer, key management personnel, the project manager, contractors, suppliers, and more. Projects are considered complete when the project meets or exceeds the expectations of the stakeholders.
Project management is a discipline that brings together a set of tools and techniques to describe, organize, and monitor the work of project activities. Project managers are the ones responsible for carrying out these activities. Projects might be organized into programs or portfolios and might be managed centrally by a PMO.
Project managers have a wide variety of skills. They should they be versed not only in the field they're working in but in general management skills as well. Communication is the most important skill a project manager will use in the course of a project.
Organizational structures come in variations of three forms: functional, projectized, and matrix. Functional organizations are traditional with hierarchical reporting structures. Project managers have little to no authority in this kind of organization. Projectized organizations are structured around project work, and staff personnel report to project managers. Project managers have full authority in this organizational structure. Matrix organizations are a combination of the functional and projectized. A project manager's authority varies depending on the structure of the matrix, be it a weak matrix, a balanced matrix, or a strong matrix.
Projects progress through phases along a life cycle path to complete the product of the project. The project management process groups are performed throughout the project's life cycle. The process groups described in the PMBOK®Guide are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.