Introduction

Many managers must plan and manage projects. You may be in production, trying to determine a better way to cut costs in the plant. You may be in marketing, charged with laying out a marketing plan for new products. You may have to audit account books in one office of your company, in order to improve efficiency.

All of these projects, and many others in your organization, involve deadlines, particular results, budgets, and ambiguity. They require coordination among numerous people, and they require innovation to solve problems. Indeed, projects are the “life blood” of innovation, and today’s project managers must create innovation in order to compete in a changing world. All project managers can do a better job of getting innovative projects done on time, within budget, and according to desired quality standards.

Adapted from "What Every Manager Needs to Know about Project Management", ©Summer 1988 by W. Alan Randolph and Barry Z. Posner

Learning Objectives

When you have successfully completed this module, you should be able to do the following:

• Define project and project management.
• Explain the differences between projects and processes/operations.
• Identify the basic parameters for managing trade-offs.
• Describe the project life cycle, list its phases, and discuss how it relates to project expenditures.

 

Lesson Readings & Activities

By the end of this lesson, make sure you have completed the readings and activities found in the Lesson 1 Course Schedule.