Shop for Books on Google Play Browse the world's largest eBookstore and start reading today on the web, tablet, phone, or ereader. Go to Google Play Now ». Project Management in Practice, 5th Edition. Jack R. Meredith , Samuel J. Mantel Jr. Offering streamlined coverage with an applied approach, Project Management in Practice, 5th Edition focuses on the essentials of project management. This concise, hands-on text is ideal for a one semester project management course, or as a module on project management. This textbook is organized around the project management life cycle, and provides students with essential project management concepts while addressing an important area of industry growth: the use of projects to achieve the strategic goals of organizations.

What people are saying - Write a review. Perhaps the project manager never returned their calls and was rude to them or made important decisions without their approval. Perhaps the quality of some of the construction or materials was not acceptable. If the customers were not happy about important aspects of the project, it would be deemed a failure based on this criterion. Many organizations implement a customer satisfaction rating system for  The results of the project met its main objective, such as making or saving a certain projects to measure project success. amount of money, providing a good return on investment, or simply making the sponsors happy. If the couple liked their new home and neighborhood after they lived there for a while, even if it cost more or took longer to build or the project manager was rude to them, it would be a successful project based on this criterion.

As another example, suppose the owners really wanted to keep the house for just a few years and then sell it for a good return. If that happened, the couple would deem the project a success, regardless of other factors involved. Note that for many projects done to meet ROI objectives, financial success cannot be determined until some time after the project is completed. Project managers play a vital role in helping projects succeed. Project managers work with the project sponsors, the project team, and the other stakeholders involved in a project to meet project goals. They also work with the sponsor to define success for that particular project. The success criteria should help you to develop key performance indicators KPIs needed to track project progress. It is important to document this information in enough detail to eliminate ambiguity. Projects make up a significant portion of work in most business organizations or enterprises, and successfully managing those projects is crucial to enterprise success.

Two important concepts that help projects meet enterprise goals are the use of programs and project portfolio management. The following are examples of programs Figure illustrates the first  A construction firm has programs for building single-family homes, apartment program in the list. buildings, and office buildings, as shown in Figure Each home, apartment building, and office building is a separate project for a specific sponsor, but each type of building is part of a program. There would be several benefits to managing these projects under one program. For example, for the single-family homes, the program manager could try to get planning approvals for all the homes at once, advertise them together, and purchase common materials in bulk to earn  A clothing firm has a program to analyze customer-buying patterns. Projects under discounts. Example programs A program manager provides leadership and direction for the project managers heading the projects within the program.

Program managers also coordinate the efforts of project teams, functional groups, suppliers, and operations staff supporting the projects to ensure that project products and processes are implemented to maximize benefits. Program managers are responsible for more than the delivery of project results; they are change agents responsible for the success of products and processes produced by those projects. Program managers often have review meetings with all their project managers to share important information and coordinate important aspects of each project. Effective program managers recognize that managing a program is much more complex than managing a single project. In addition to skills required for project managers, program managers must also possess strong business knowledge, leadership capability, and communication skills.

Project Portfolio Management A portfolio is a collection of projects and programs that are grouped together to facilitate effective management to meet strategic business objectives. Project managers support an emerging business strategy of project portfolio management also called just portfolio management , in which organizations group and manage projects and programs as a portfolio of investments. PMI members can download this and other standards, such as the PMBOK® Guide, for free from www. They create portfolios based on meeting specific organizational goals, such as maximizing the value of the portfolio or making effective use of limited resources.

Portfolio managers help their organizations make wise investment decisions by helping to select and analyze projects from a strategic perspective. Portfolio managers may or may not have previous experience as project or program managers. It is most important that they have strong financial and analytical skills and understand how projects and programs can contribute to meeting strategic goals. The main distinction between project or program management and portfolio management is a focus on meeting tactical versus strategic goals. Tactical goals are generally more specific and short-term than strategic goals, which emphasize long-term goals for an organization. Individual projects and programs often address tactical goals, whereas portfolio management addresses strategic goals. Project and program management address questions like:  Are we carrying out projects well? Copyright Schwalbe Publishing Chapter 1 — Introduction 16 Portfolio management addresses questions like:  Are we working on the right projects?

For example: large projects, decreasing costs on supplies, and improving skill levels of key workers. Projects could be grouped into these three categories for portfolio  In a clothing firm, strategic goals might include improving the effectiveness of IT, management purposes. These might be the main categories for their portfolio of projects. based on key strategies such as improving health, providing education, and so on to help make decisions on the best way to use available funds and resources. Organizations group projects into portfolios to help them make better investment decisions, such as increasing, decreasing, discontinuing, or changing specific projects or programs based on their financial performance, risks, resource utilization, and similar factors that affect business value.

If a construction firm has much higher profit margins on apartment buildings than single-family homes, for example, it might choose to pursue more apartment building projects. The firm might also create a new project to investigate ways to increase profits for single-family home projects. On the other hand, if the company has too many projects focused on financial performance and not enough focused on improving its work force, the portfolio manager might suggest initiating more projects to support that strategic goal. By grouping projects into portfolios, organizations can better tie their projects to meeting strategic goals. For example, if the construction firm needs more people with experience in building apartment buildings, they can make necessary adjustments by hiring or training current workers in the necessary skills.

Good program and portfolio managers often need additional skills and experience in managing projects and understanding organizational strategies. This section describes some of the skills that help you manage projects, and you will learn many more throughout this text. If you are serious about considering a career in project management, you should consider becoming a certified Project Management Professional. You should also be familiar with some of the project management software products available on the market today.

Copyright Schwalbe Publishing Chapter 1 — Introduction 17 Suggested Skills for Project, Program, and Portfolio Managers  All ten project management knowledge areas Project managers and their teams must develop knowledge and skills in the following areas:  The application area domain, industry, market, etc. An earlier section of this chapter introduced the ten project management knowledge areas, as well as some tools and techniques that project managers use. The application area refers to the application to which project management is applied. For example, a project manager responsible for building houses or apartment buildings should understand the construction industry, including standards and regulations important to that industry and those types of construction projects.

A project manager leading a large software development project must know a lot about that application area. A project manager in education, entertainment, the government, and other fields must understand those application areas. The project environment differs from organization to organization and project to project, but there are some skills that will help in most project environments. These skills include understanding change, and understanding how organizations work within their social, political, and physical environments. Project managers must be comfortable leading and handling change, since most projects introduce changes in organizations and involve changes within the projects themselves. Project managers need to understand the organizations they work in and how products are developed and services are provided. For example, it takes different skills and behavior to manage a project for a Fortune company in the United States than it does to manage a government project for a new business in Poland or India.

It also takes different skills and behaviors to manage a project in the construction industry from one in the entertainment or pharmaceutical industry. Project managers should also possess general business knowledge and skills. They should understand important topics related to financial management, accounting, procurement, sales, marketing, contracts, manufacturing, distribution, logistics, the supply chain, strategic planning, tactical planning, operations management, organizational structures and behavior, personnel administration, compensation, benefits, career paths, and health and safety practices. On some projects, it will be critical for project managers to have substantial experience in one or several of these general business areas. On other projects, project managers can delegate detailed responsibility for some of these areas to a team member, support staff, or even a supplier. Even so, the project managers must be intelligent and experienced enough to know which of these areas are most important and who is qualified to do the work.

Achieving high performance on projects requires human relations skills, also known as soft skills. Some of these soft skills include effective communication, influencing the organization to get things done, leadership, motivation, negotiation, conflict management, and problem solving. Project managers must lead their project teams by providing vision, delegating work, creating an energetic and positive environment, and setting an example of appropriate and effective behavior. They need to be able to motivate different types of people and develop esprit de corps within the project team and with other project stakeholders. MEDIA SNAPSHOT In , millions of people in the U. watched the first season of the reality show called The Apprentice, where contestants vied for a high-level position working for Donald Trump.

Each week, Trump fired one contestant and told everyone bluntly why they were fired. No matter how smart you are the first insight into improving project management skills, as follows: candidate fired had degrees in medicine and business , you must be professional in how you deal with people and display some leadership potential. The second person and first project manager fired, Jason, decided not to take the time to meet with project sponsors, causing his team to fail. Sam had problems as a team member and project manager,  Know the business. Restaurants often have the highest profit margins on certain items, like but his lack of trust in and respect for and from his teammates led to his downfall. One team focused on increasing bar sales, which generated the most profit, and  Stand up for yourself.

When Trump fired Kristi over two other candidates, he explained his easily won the competition that week. Erika had a difficult time leading her team in in the boardroom when her team lost. selling Trump Ice, and she became flustered when they did not get credit for sales because paperwork was not done correctly. Her emotions were evident in the boardroom when she  Work on projects and for people you believe in. her profit potential, even though he and other teammates disliked her work. Troy led his team in trying to make the most money selling rickshaw rides using traditional methods.

The other team brainstormed ideas and decided to sell advertising space on the rickshaws, which was a huge success. Nick and Amy were teamed against Bill, Troy, and Kwame to rent out a party room for the highest price. They got lucky when one potential client came back at the last minute and agreed to a much higher than normal price. Copyright Schwalbe Publishing Chapter 1 — Introduction 19 The Apprentice show continues to run in with celebrities as contestants and money donated to charity. An important lesson from that season was that the key stakeholder, Donald Trump, believed it was more important to focus on how much money the winner raised than what his teammates thought of him. Trump modified the criteria for winning the following year, when comedian Joan Rivers beat poker player Annie Duke.

Project managers must also earn respect from their teams and sponsors, as Joan did. Importance of Leadership Skills In a popular study, one hundred project managers listed the characteristics they believed were critical for effective project management and the characteristics that made project managers ineffective. Figure lists the results. The study found that effective project managers provide leadership by example, are visionary, technically competent, decisive, good communicators, and good motivators. They also stand up to top management when necessary, support team members, and encourage new ideas. The study also found that respondents believed positive leadership contributes the most to project success. The most important characteristics and behaviors of positive leaders include being a team builder and communicator, having high self- esteem, focusing on results, demonstrating trust and respect, and setting goals. Effective Project Managers Ineffective Project Managers Lead by example Set bad examples Are visionaries Are not self-assured Are technically competent Lack technical expertise Are decisive Avoid or delay making decisions Are good communicators Are poor communicators Are good motivators Are poor motivators Zimmerer, Thomas W.

and Mahmoud M. Yasin, "A Leadership Profile of American Project Managers," Project Management Journal March , Most significant characteristics of effective and ineffective project managers Leadership and management are terms often used interchangeably, although there are differences. Generally, a leader focuses on long-term goals and big-picture objectives, while inspiring people to reach those goals. A manager often deals with the day-to-day details of meeting specific goals. Good project managers know that people make or break projects, so they must set a good example to lead their team to success. They are aware of the greater needs of their stakeholders and organizations, so they are visionary in guiding their current projects and in suggesting future ones. In another study, experts were asked to identify the ten most important skills and competencies for effective project managers.

Figure shows the results. Copyright Schwalbe Publishing Chapter 1 — Introduction 20 Top Ten Skills and Competencies for Effective Project Managers 1. People skills 6. Verbal communication 2. Leadership 7. Strong at building teams 3. Listening 8. Integrity, ethical behavior, consistent 9. Strong at building trust Ten most important skills and competencies for project managers Respondents were also asked what skills and competencies were most important in various project situations:  Large projects: Leadership, relevant prior experience, planning, people skills, verbal communication, and team-building skills were most important. To be the most effective, project managers require a changing mix of skills and competencies depending on the project being delivered.

As mentioned earlier, program managers need the same skills as project managers. They often rely on their past experience as project managers, strong business knowledge, leadership capability, and communication skills to handle the responsibility of overseeing the multiple projects that make up their programs. It is most important that portfolio managers have strong financial and analytical skills and understand how projects and programs can contribute to meeting strategic goals. Companies that excel in project, program, and portfolio management grow project leaders, emphasizing development of business and communication skills. Instead of thinking of leaders and managers as specific people, it is better to think of people as having leadership skills, such as being visionary and inspiring, and management skills, such as being organized and effective. Therefore, the best project, program, and portfolio managers have leadership and management characteristics; they are visionary yet focused on the bottom line.

Above all else, they focus on achieving positive results! He suggests that organizations need to follow basic principles of project management, including these two mentioned earlier in this chapter:  Make sure your projects are driven by your strategy. Be able to demonstrate how each project you undertake fits your business strategy, and screen out unwanted projects as soon as possible. Ignoring stakeholders often leads to project failure. Be sure to engage stakeholders at all stages of a project, and encourage teamwork and commitment at all times. Use leadership and open communications to make things happen. The Project Management Institute PMI is a global professional society for project and program managers. PMI provides certification as a Project Management Professional PMP —someone who has documented sufficient project experience, agreed to follow the PMI code of professional conduct, and demonstrated knowledge of the field of project management by passing a comprehensive examination.

The number of people earning PMP certification continues to increase. In , there were about 1, certified project management professionals. By the end of December, there were , active certified project management professionals. There were also 27, CAPMs Certified Associates in Project Management. Figure shows the rapid growth in the number of people earning project management professional certification from through Although most PMPs are in the U. and Canada, the PMP credential is growing in popularity in several countries, such as Japan, China, and India.

Copyright Schwalbe Publishing Chapter 1 — Introduction 22 Figure Growth in PMP certification, — Some companies are requiring that all project managers be PMP certified. Project management certification is also enabling professionals throughout the world to share a common base of knowledge. Sharing a common base of knowledge is important because it helps advance the theory and practice of project management. Many colleges, universities, and companies around the world now offer courses related to various aspects of project management. You can even earn bachelors, masters, and doctoral degrees in project management. PMI reported in that of the institutions it has identified that offer degrees in project management, are in mainland China. In our salary survey, the salary differences in IT, for example, was dramatic. A person with certification could make five to six times as much salary, so there is a terrific incentive to get certified and work for these Western companies. In , a gradschools.

org for more information. You can network with other students studying project management by joining a local chapter. Many welcome students to attend free events, including job networking. You can volunteer to help develop your skills and serve your community. Students should consider earning the Certified Associate in Project Management CAPM credential from PMI. However, if you have enough work experience, the PMP is more marketable. Project managers often face ethical dilemmas. For example, several projects involve different payment methods. If a project manager can make more money by doing a job poorly, should he or she do the job poorly? If a project manager is personally opposed to the development of nuclear weapons, should he or she refuse to manage a project that helps produce them?

Ethics guide us in making these types of decisions. PMI approved a new Code of Ethics and Professional Conduct effective January 1, This new code applies not only to PMPs, but to all PMI members and individuals who hold a PMI certification, apply for a PMI certification, or serve PMI in a volunteer capacity. It is vital for project management practitioners to conduct their work in an ethical manner. Even if you are not affiliated with PMI, these guidelines can help you conduct your work in an ethical manner, which helps the profession earn the confidence of the public, employers, employees, and all project stakeholders.

The PMI Code of Ethics and Professional Conduct includes short chapters addressing vision and applicability, responsibility, respect, fairness, and honesty. We fulfill the commitments that we undertake—we do what we say we will do. Copyright Schwalbe Publishing Chapter 1 — Introduction 24 4. Project Management Careers How does one become a project manager? In the past, many people became project managers by accident. They had never really heard of the job title, and their organizations did not have a real career path for project managers.

They may have led a small project part-time and then been thrown into the role of project manager on a larger project. Today, individuals and organizations often take a more proactive approach. Some people study project management in college and enter the field upon graduation, often as a project coordinator. Some people earn the CAPM or PMP certification to move into project management roles within their own companies or at different ones. globally across seven project-intensive industries. com, a popular job search site, listed almost , jobs in the U. when searching for project manager in early Over 53, of those jobs were listed in California; over 27, in Texas, and over 26, in New York. The March issues of PM Network includes an article with advice for young people on breaking into and succeeding in project management. Suggestions include earning a certification such as the PMP or CAPM , volunteering for leadership roles, speaking up for a position, and learning to delegate and empower team members.

Being a project manager is a demanding yet rewarding profession, for the right person. Many people start off leading a small project related to their current job, part-time, to make sure they are cut out for and enjoy the work. Some organizations require their people to have a few years of experience before they let them lead any projects. Others hire entry-level people with the title of project coordinator or project manager. Copyright Schwalbe Publishing Chapter 1 — Introduction 25 Many organizations realize that they need to provide a structured career path to develop and maintain their talent pipeline for project managers. After leading a small project, many people go on to lead multiple small projects, larger projects, or become program managers. Some organizations have different levels of project managers, often based on knowledge and experience. Bob Morin, deputy PMO manager for National Security Technologies in Las Vegas, Nevada, strongly believes in establishing defined positions, where each level requires certain knowledge, skills, and experience.

For example, at one large organization he developed a career path with nine different levels, as follows, from lowest to  Project administrator highest:  Junior project coordinator  Senior project coordinator  Project manager level 1  Project manager level 2  Project manager level 3  Project manager level 4  Program manager  Senior program manager21 What if you do not want to stay in a project management career path? You can often go back to your former, more technical position, and move along that career path. Or, many ex-project managers move into higher level management positions, such as department manager, director, vice president, or even CEO. Some become consultants, educators, or entrepreneurs. Their experience leading projects makes them marketable in several different careers. Answer: False Response: See page 4 Level: medium. Many recent developments in project management are being driven by changes in the nature of the American workforce.

Answer: False Response: See pages 2 and 3 Level: medium. Achieving both strategic and routine goals are growing in importance in project management. Answer: True Response: See page 3 Level: medium. While general managers have their authority limited to specific areas in the overall organization, project managers have authority over any activity required by the project. Answer: False Response: See page 5 Level: medium. Projects are always carried out under conditions of uncertainty. Answer: True Response: See pages 7 Level: easy. Answer: False Response: See page 7 Level: medium. Nonnumeric project selection methods are only suitable if numeric methods are not available. Answer: False Response: See pages 11 and 12 Level: medium. If a PM manages her project well enough she can eliminate uncertainty.

Answer: False Response: See page 21 Level: Easy. When using financial methods for selecting projects, the payback period is the simplest and best method to use. Answer: False Response: See page 13 Level: medium. Rank-ordering a large number of projects can be done with a Q-sort. Answer: False Response: See page 12 Level: medium. A disadvantage of using the payback period method for selecting projects is that it cannot reflect the time-value of money. Answer: True Response: See page 13 Level: medium. A disadvantage of using the discounted cash flow method or net present value for selecting projects is that it ignores all non-monetary factors associated with the project.

Answer: True Response: See page 16 Level: medium. Answer: False Response: See page 18 Level: medium. A PM does not need to understand why a project is selected for funding because he did not initiate the process. Answer: False Response: See page 21 Level: medium. The main distinction between platform and breakthrough projects is that the former usually depend on existing technology. Answer: True Response: See page 32 Level: medium. The main distinction between platform and derivative projects is that the latter depend on existing technology. Answer: False Response: See page 32 Level: medium. A key deficiency of the aggregate project plan is that it provides little information about the resources committed to the various projects.

Answer: False Response: See page 33 Level: medium. One reason for the emphasis on project management is that tasks fit neatly into business-as-usual. Answer: False Response: See page 1 Level: easy. Project budgets are primarily modifications of budgets for the same activity in the previous period. In project management, superior-subordinate relationships are known and lines of authority are clear. Answer: False Response: See pages 5 Level: medium.

There's also live online events, interactive content, certification prep materials, and more. Offering streamlined coverage with an applied approach, Project Management in Practice, 5th Edition focuses on the essentials of project management. This concise, hands-on text is ideal for a one semester project management course, or as a module on project management. This textbook is organized around the project management life cycle, and provides students with essential project management concepts while addressing an important area of industry growth: the use of projects to achieve the strategic goals of organizations. This print textbook is available for students to rent for their classes.

The Pearson print rental …. by Project Management Institute. Recent research has shown that organizations continue to experience project issues associated with the poor performance …. The ultimate study package for the new PMI-ACP exam The PMI-ACP Project Management Institute Agile Certified …. by Jack R. Meredith, Samuel J. Mantel Jr. Meredith's newest edition of Project Management focuses on all facets of the steps needed to successfully …. Skip to main content. Start your free trial. Project Management in Practice, 5th Edition by Samuel J. Book description Offering streamlined coverage with an applied approach, Project Management in Practice, 5th Edition focuses on the essentials of project management.

Show and hide more. Table of contents Product information. Table of contents Cover Page Title Page Copyright Dedication Contents Preface Chapter 1: The World of Project Management 1. THE THREE GOALS OF A PROJECT 1. Dismas Assisted Living Facility Project Budget Development—2 QUESTIONS Photstat Inc. Dismas Assisted Living Facility Case—5 QUESTIONS Palmstar Enterprises, Inc. QUESTIONS Peak Lighting, Inc. Product information Title: Project Management in Practice, 5th Edition Author s : Samuel J. Release date: September Publisher s : Wiley ISBN: You might also like book Project Management: Achieving Competitive Advantage, Fifth Edition by Jeffrey K.

Pinto This print textbook is available for students to rent for their classes. The Pearson print rental … book Business Analysis for Practitioners: A Practice Guide by Project Management Institute Recent research has shown that organizations continue to experience project issues associated with the poor performance … book PMI-ACP Project Management Institute Agile Certified Practitioner Exam Study Guide by J. Ashley Hunt The ultimate study package for the new PMI-ACP exam The PMI-ACP Project Management Institute Agile Certified … book Project Management: A Managerial Approach, 8th Edition by Jack R. Get it now.

time, and cost goals, the couple paying for the house might not be satisfied. project management knowledge areas — Project integration management, scope, time, cost, quality, human resource, communications, risk, and procurement management. Include at least one reference and proper citations. Which of the following criteria can be included in scoring models for selecting projects? Copyright Schwalbe Publishing Chapter 1 — Introduction 27 Figure Project budgets are primarily modifications of budgets for the same activity in the previous period. responsible for building the house.

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