Tools in Building an Integrated Project Management System

The theme of project management systems is the tradeoff between cost, time, and value or performance. The objective of the system is to optimize all three since one can always be enhanced at the expense of the other two. Figure 3-1 shows time, cost, and value.

A new product project can be brought in early, but the process of crashing the project can increase the cost and create quality and value problems. On the other hand, the project cost can be reduced, but this action may produce schedule and timeline problems, and again quality impacts. If value is increased beyond the scope of work and customer requirements, the price will be paid in cost and time.

In building a company or agency system to support new product development project integration, there are ten areas for process improvement. These are: organization- or enterprisewide project management systems, program portfolio system development, integrated resource management systems, information technology, technical product development (including a stage-gateway review system), interface management system, project portfolio management, project monitoring and corrective action, change control, and program evaluation.

Project Management Made Easy

Project Management Made Easy

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.

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