Nature of Project Management
Nature of Project Management Introduction As projects become more complex, the necessity for a structured approach becomes imperative. Profitability of an organization is partially determined by an effective management approach to new business developments and processes. Program management defines an approach by providing a well thought out method of planning and tracking expenditures, asset use / allocation, progress, and conformance to desired goals. A discussion of the nature of project management; including a definition and characteristics of a project, the need for project management, three goals of project management, and key features of modern day project management, follows. Project Definition and Characteristics Gray and Larson (2003, p. 5) define a project as, “. ... a complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs,” while the Carnegie Mellon University Project Management Institute (PMI) (PMBOK Guide, 2000, p. 4) defines a project as “. ... ” Both definitions, although slightly different, are excellent descriptions of the project management process. ... 5), major characteristics of a project include: 1. ... Unique project 5.