Meredith and mantel three stage model

MBA 6931, Project Management Strategy and Tactics 1

Course Learning Outcomes for Unit I Upon completion of this unit, students should be able to:

1. Discuss key project management concepts. 1.1 Explain the theoretical aspects of project management, life cycles, and the project selection

process.

3. Characterize important project management issues. 3.1 Analyze project scope and organization of the project as they relate to overall project

management.

Course/Unit Learning Outcomes

Learning Activity

1.1

Unit I Lesson Chapter 1, pp. 1–23 Chapter 2, pp. 28-55 “The Most Underrated Skill in Management” reading Unit I Article Review

3.1

Unit I Lesson Chapter 1, pp. 1–23 Chapter 2, pp. 28-55 “The Most Underrated Skill in Management” reading Unit I Article Review

Reading Assignment Chapter 1: Projects in Contemporary Organizations, pp. 1-23 Chapter 2: Strategic Management and Project Selection, pp. 28-55 In order to access the following resource, click the link below. Repenning, N. P., Kieffer, D., & Astor, T. (2017). The most underrated skill in management. MIT Sloan

Management Review, 58(3), 39–48. Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.proquest.com.library resources.columbiasouthern.edu/abicomplete/docview/1885859666/B3F4A36F565A4EC8PQ/1?acco untid=33337

Unit Lesson What is a project? You may think of the many things on your to-do list for the weekend or the many tasks that your supervisor has laid on your desk just this week. The formal definition of a project suggests a temporary endeavor undertaken to create a unique product, service, or result (Meredith, Mantel, & Shafer, 2018). Whatever the project, there is some level of efficiency around organizing and systemizing the process leading to completion. As we get started in this course, it is important to develop an understanding of exactly what project scope is all about. Initially, scope refers to the deliverables or outcomes of the project. Another way to describe it might be the sum of all the products, services, and results or the completion of the objectives of the project. Understandably, this is one of the most important facets in the initial establishment of the project. It determines the expectations of all the stakeholders as well as the project manager and team.

UNIT I STUDY GUIDE

Project Management Today

https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.proquest.com.libraryresources.columbiasouthern.edu/abicomplete/docview/1885859666/B3F4A36F565A4EC8PQ/1?accountid=33337
https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.proquest.com.libraryresources.columbiasouthern.edu/abicomplete/docview/1885859666/B3F4A36F565A4EC8PQ/1?accountid=33337
https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.proquest.com.libraryresources.columbiasouthern.edu/abicomplete/docview/1885859666/B3F4A36F565A4EC8PQ/1?accountid=33337
MBA 6931, Project Management Strategy and Tactics 2

UNIT x STUDY GUIDE

Title

Communication of the scope could be the difference between high-level success and extreme failure of the project. Time and money play an important role in the scope as there inevitably will be time deadlines and budget constraints involved with the project. Different stakeholders will also have differing priorities with respect to the project, which also provides for additional complexities. Meredith et al. (2018) discuss the recent changes in management structures within organizations. These include the replacement of the traditional hierarchical management system that typically ranges from many vertical layers to a flatter structure with less layers. This change in organizational structure creates changes in how project management processes work within organizations. Why is project management so important to organizations today? It provides project managers and officials within organizations with the ability to have additional control over the expenses of the project as well as the time constraints associated with the project. Additionally, a systems approach has been widely adopted in many organizations today in order to deal with the complexities associated with advancements in technology. Finally, utilization of the project strategy has been recognized as an effective and efficient system of accomplishing an organization’s goals and, therefore, has been adopted by an exponentially greater number of organizations both domestically and globally. At the core of the compilation of a project is an opportunity, challenge, or, as stated by Repenning, Kieffer, and Astor (2017), a problem. What exactly is a problem? We could view this as something that needs to be overcome or is unwelcome. Another way to look at this is as a perceived gap between how things currently exist and how we might want them to exist. A third way to look at this is a deviation from the current to the standard norm or status quo. However you view it, the bottom line is that it is a condition that is not desired. Repenning et al. (2017) state that the most underrated skill in management is “clearly articulating the problem you seek to solve before jumping into action” (p. 39). With the fast-paced nature of our world, the natural tendency is to jump from the situation directly into the process instead of clearly identifying exactly what the problem is. While this may seem easy to solve, the issue is that conditions are continuously changing and evolving, which makes the identification of the problem somewhat of a moving target. Organizational change is easier to complete gradually rather than one large overhaul, but it is difficult to maintain this level of continuous and effective organizational change. While advancements in technology have improved the efficiencies within organizations, they have also created additional complexities with respect to understanding the real problem and managing these gradual changes. A project manager might begin with the creation of a solid problem statement, which has five elements; see below.

1. Reference a relevant issue and a specific goal where the problem is important. 2. Articulate information regarding the gap between the current status and the goal; engagement is

more probable if people understand the gap. 3. Measuring quantifiable variables provides a more understandable goal. 4. Neutrality allowing for multiple resolutions allows for creativity and innovative solutions. 5. Small scope allows for fast resolution and enables people to perceive successful completion

(Repenning et al., 2017). In compiling this problem statement, project managers tend to make several common mistakes, which are listed below.

1. When the problem is not identified, assumptions are made, and some may be confused about what problem is being solved.

2. When the problem statement is written as a solution, it removes the potential for creative problem- solving amongst the project management team.

3. When the gap between the current situation and the ideal situation is not clearly explained, it leaves the project management team confused about the goal of the project.

4. When the problem is too large and broad, this leads to slow initiatives and progress (Repenning et al., 2017).

Understanding these potential mistakes is the first step in managing and moving beyond them in the compilation of an effective and articulate problem statement. Once the problem has been identified and clearly articulated, the project moves through a project life cycle. This can be defined as the stages that a project travels through from the beginning to the final completion. As you can expect, it begins with the start- up phase. Several facets are identified with this phase, including the selection of a manager or leader of the

MBA 6931, Project Management Strategy and Tactics 3

UNIT x STUDY GUIDE

Title

project team, the assembly of the actual team, the collection of resources, and the identification of the work program. Planning and scheduling of the various tasks is completed. As the project moves through these stages, continuous monitoring and evaluations are conducted as the project manager and team look to control the progress of the project. Take a look at the “Project Management in Practice” discussion in your textbook on page 18, which is identified as “Turning London’s Waste Dump into the 2012 Olympics Stadium.” What stage of the life cycle was this project in? What were the issues with this project that created this elongated life cycle? In today’s complex world of multiple projects, it is important to understand how to strategically manage these projects through a system of project selection. Having multiple projects within one organization can create delays in projects for several reasons, including the use of a common resource, organization inefficiencies, or simple bottlenecks within the organization. Meredith et al. (2018) discuss two types of project selection models, which include the nonnumeric models and the numeric models. The nonnumeric models are listed below.

 Sacred cow: This is a project suggested by a powerful person in the organization.

 Operating necessity: This is defined as a project that is absolutely necessary in order for the facility to continue to operate.

 Competitive necessity: This is similar to operating necessity except it is necessary for the project to continue to operate in order to maintain competitiveness within the industry.

 Product line extension: This suggests that the organization needs to develop a new product line as deemed important by their customer.

 Sustainability: This suggests that it is important for the project to align with environmentally friendly

concerns. The numeric models review the projects based upon a number of financial issues beginning with profitability. Segues from profitability include payback period, discounted cash flow, and the internal rate of return to name a few. The important thing for officials within an organization to remember when basing their selection on numeric models is to consistently use the same measurement model in order to always be comparing apples to apples. What about the risks associated with project selection? At the end of the day, risks can be decreased but never completely eliminated. This provides the rationale for why risk management must be completed simultaneously during the project selection process. In other words, what are the risks associated with completing the project? What is the potential profit associated with completing this project? What are the resources necessary to completing the project? The project proposal stage is another aspect of the project selection process. This involves the documentation necessary to evaluate the projects under consideration. These documents include extensive details about the costs, benefits, risks, potential profits, and projected schedule. Typically, these proposals begin with an executive summary, cover a discussion around the nature of the problem and how it will be solved, and include an implementation plan of the project. Additionally, the proposal includes a lengthy description of the business bidding on the project along with the advantage of using their project management services. A key component of the project proposal is the cover letter, which needs to capture the attention of company officials as well as demonstrate credibility. In summary, there are three basic recommendations for effectively leading organizational change through the use of projects, which are listed below.

 Articulate a clear statement of the problem before moving forward.

 Separate large problems into smaller bite-sized problems to solve gradually.

 Instill a systematic process of problem-solving that is clearly communicated to all stakeholders within the organization.

The role of the project needs to be understood as it aligns with the organization’s goals and mission statement. Careful planning and management of the portfolio of projects within an organization will enable project managers to lead the organization to more efficiently complete the projects.

MBA 6931, Project Management Strategy and Tactics 4

UNIT x STUDY GUIDE

Title

References Meredith, J. R., Mantel, S. J., Jr., & Shafer, S. M. (2018). Project management: A strategic managerial

approach (10th ed.). Hoboken, NJ: Wiley. Repenning, N. P., Kieffer, D., & Astor, T. (2017). The most underrated skill in management. MIT Sloan

Management Review, 58(3), 39–48. Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.proquest.com.li braryresources.columbiasouthern.edu/abicomplete/docview/1885859666/B3F4A36F565A4EC8P Q/1?accountid=33337

Suggested Reading In order to access the following resources, click the links below. The article below deals with the realization that organizations have regarding a project’s failure; however, organizations have found very little remedy to prevent the failures. Ellis, C. (2015, August 17). Why half your projects will fail this year. CIO. Retrieved from

https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/logi n.aspx?direct=true&db=bth&AN=108959704&site=ehost-live&scope=site

This article investigates the process of knowledge sharing between project teams using a case study approach. Mueller, J. (2015). Formal and informal practices of knowledge sharing between project teams and enacted

cultural characteristics. Project Management Journal, 46(1), 53–68. Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/logi n.aspx?direct=true&db=bth&AN=101314447&site=ehost-live&scope=site

The article below addresses how project portfolio managers select IT projects and address issues by providing increased understanding of IT project selection practice, thereby facilitating the development of methods that better fit current practice. Pedersen, K. (2016). IT project selection: Politics, experience and good friends. Electronic Journal of

Information Systems Evaluation, 19(1), 55–70. Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/logi n.aspx?direct=true&db=bth&AN=115960736&site=ehost-live&scope=site

Learning Activities (Nongraded) Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit them. If you have questions, contact your instructor for further guidance and information. Review the glossary at the end of Chapters 1 and 2. This will provide you with a solid introduction into basic project management concepts and terminology as you progress through this course.

https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=108959704&site=ehost-live&scope=site
https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=108959704&site=ehost-live&scope=site
https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=101314447&site=ehost-live&scope=site
https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=101314447&site=ehost-live&scope=site
https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=115960736&site=ehost-live&scope=site
https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=115960736&site=ehost-live&scope=site