Welcome to this series on project management, where we’re going through the project management body of knowledge, the PMBOK guide. This is from the project management institute and it’s basically a huge tome of knowledge that’s around 800 pages and it has everything in regards to leading, managing, monitoring and controlling, initiating projects – basically all the way from start to finish.

We’re going to go through all of the different modules in the PMBOK guide and go through them as a course so that you don’t have to necessarily read it all the way through yourself. There’s a lot to get through so let’s get into it.

First of all project management is not new, it’s been around for hundreds of years, thousands of years. As long as things have needed to change or needed to get done project management has been around. Building the Pyramids of Giza is a project, creating the Olympic Games and managing the games and making that happen, the Great Wall of China, the Taj Mahal, if you’re thinking about publishing a book that is a project – it has a start and an end date, and it has the scope of the project. What we’re trying to say is that projects are everywhere, from a small renovation to your house to even going and doing the shopping or the grocery shopping all of these things have a start and end date, scope that needs to be completed and requirements for the customer. And that’s the point, they’re trying to get to the outcomes of these projects with a result and leaders and managers applying project management principles which is where the project management body of knowledge comes into it.

What is a project?

A project is a temporary endeavor, so it has a start and an end date, it’s not business as usual and it’s not ongoing. It’s undertaken to create a unique product or an unique service or a unique result, something different. It’s a change.

They’re undertaken to fulfill objectives and they produce what they call deliverables. These deliverables fulfill those project objectives. The objective can be any result, purpose, strategic position in the company, a new product like an iPhone. Projects happen at all levels and they bring about a change, so anywhere there’s change there’s going to be a project to try and make that happen.

Projects Are Temporary

Projects are temporary, and which means they have a beginning and an end. The end of a project is reached for a few different reasons and they can be good, they can be happy reasons, and they can be bad reasons such as when projects end because you have run out of money for example, funding is exhausted or it’s no longer available, there’s no money. Or maybe for a happy reason you’ve met the project objectives. Or maybe it’s been realized that you cannot meet the project objectives, maybe circumstances have changed, maybe the project itself has changed, maybe the need for that project no longer exists and there are many other reasons.

There are regulatory reasons, legal reasons, human resources reasons, and that’s basically where projects come into it – they are temporary but the idea is that when you deliver something it will be long lasting. It will last past the end of the project once the project is finished.

Projects Enable Change and Value Creation

A project is aimed at change, it’s aimed at moving an organization from from one state (which is the current state) and move to a future state.

Projects also enable business value creation. We’re trying to deliver value to our customers, whether our customer is internal to an organization, whether it’s internal to our team, maybe it’s external to our organization where we’re delivering something to our paying customers. There are many different reasons we could be delivering business value. They could also be tangible reasons such as monetary assets, market share, stockholder equity. They could be intangible reasons, not monetary related where it’s just brand goodwill, brand recognition, strategic alignment to a certain certain category or to improve a reputation or many other things that are not monetary related.

Reasons to Initiate Projects

There are many reasons to initiate projects, to start them, to initially kick them off. It could be regulations, it could be to fix or improve a product, it could be to implement or change strategies within an organization or a company, or even within a team or even within yourself sometimes. A personal project to get fit or to get the PMP for example. You could satisfy stakeholder requests or needs if stakeholders or customers are asking for something then that could be a reason to kick off that project and get it started.

There are examples of things that lead to the need of a project – you could have new technology, as the pace of change is really increasing in the world. Which means that there’s always going to be a need for project managers and project roles in the world as well. We’ve got competitive forces, to deliver lower prices than a competitor, political changes, huge large-scale changes around a country, market demand like a customer request, economic changes, stakeholder demands like your customers or people within an organization. There could be a social need for what you’re doing, just general improvements for what you’re doing (for example with your Lean Six Sigma quality improvements). There are many many many different reasons that could be used for initiating a project.

– David McLachlan