Project Management

Class 1 PM 2019-2020

Prof. Dr. Elvira Haezendonck

Drs. Laura Molinari

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Overview

TODAY

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 Who is who?

• Prof. dr. Elvira Haezendonck

Ø Lecturer and course responsible
Ø elvira.haezendonck@vub.be
Ø (PL 5 3.67)
• drs. Laura Molinari
Ø Organiser and discussant cases, guest lectures and responsible
Canvas
Ø Laura.Molinari@vub.be
Ø (PL 5 3.57)

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 Materials

• Slides
• Cases + discussion notes
• Guest lecture slides and notes
• Book: Project management: the managerial process,
7th (or 6th edition), E. Larson and C. Gray, 2014 or
2018
• Some readers in library

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Manuals/Handbooks

Canvas

Canvas

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 Structure

Chapters Project Management: the Handbook of Project- Guide to Project

Managerial Process (6th Based Management Management
edition, 2014)

Introduction 1 1
Part 1 2, 3, 10 2-4 1-3
Part 2 4, 6, 5, 8, 7 5-10 4-7
Part 3 11, 9, 13, 14 11-17 8-11
Part 4 16, 12, 15 18-20, A-B 12

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 Cases = group assignments

• 3 cases to be solved: introduction presented and on Canvas;

• IMPORTANT DATES of handing in reports and discussions: see Canvas and classes
outline; 10 AM SHARP!
• To be solved in groups of 4 students, of which min. 1-pref.2
exchange/international student: see excel Canvas; please email names with
mobile number, program and email address of each group member to
laura.molinari@vub.be BEFORE next class (2/10);
• Group report per case: max. 4 pages A4 and responding to proposed questions;
• Reports to be handed in at communicated deadlines (see latest available class
outline on Canvas);
• Cases: 25% of overall evaluation in 1st exam session (75% on closed book exam
in January);
• Questions cases: laura.molinari@vub.be

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 Evaluation

• Written, closed book exam, 2 hours (75% of evaluation)

• 4 questions to be answered (one page per question/answer;
equal weight of 5/20 per question)
• Applied concept questions (possibly short cases)
• Interaction of different parts/chapters!
• Group cases (25%): 4 students, 3 cases.

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Themes of the course

1. Project CONTEXT
2. Project PERFORMANCE
3. Project PROCESS
4. Project GOVERNANCE

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 Goals of the course

• Acquiring a sound basis of project management and

concepts
• Recognizing project phases and cycles in real cases
• Understanding relevant context, performance, process and
governance aspects to be monitored in a project
• Controlling the main techniques and methods to plan and follow up
projects
• Identify project stakeholders
• Estimating risks and costs related to projects
• Being aware of bottlenecks and challenges of projects and project
managers.

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PART 1 : MANAGING THE CONTEXT

• PART 1 : MANAGING THE CONTEXT

• Chapter1: Modern project management
Project management: the managerial process.

• Chapter 2: Organization, Strategy and Project

Selection
Project management: the managerial process.

• Chapter 3:Organization: structure and culture.

Project management: the managerial process.

• Chapter 10: Leadership: Being an Effective Project

Manager
Project management: the managerial process.

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An overview of PM

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Introduction

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 What is a project?

• Project Defined
• A complex, non-routine, one-time effort limited by time, budget, resources, and
performance specifications designed to meet ‘customer’ needs.

• Major Characteristics of a Project

• Has an established objective.
• Has a defined life span with a beginning and an end.
• Requires across-organizational participation.
• Involves doing something never been done before.
• Has specific time, cost, and performance requirements.

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 Program versus project

• Program Defined
• A series of coordinated, related, multiple projects that continue over an extended
time and are intended to achieve a goal.
• A higher level group of projects targeted
at a common goal.
• Example:
• Project: completion of a required course in project management.
• Program: completion of all courses required for a business major or master’s

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 Comparison of routine work with projects
Routine, Repetitive Work
• Taking class notes
• Daily entering sales receipts into the
accounting ledger
• Responding to a supply-chain request
• Practicing scales on the piano
• Routine manufacture of an Apple iPod
• Attaching tags on a manufactured product
Projects
• Writing a term/bachelor/master paper
• Setting up a sales kiosk for a professional
accounting meeting
• Developing a supply-chain information system
• Writing a new piano piece
• Designing an iPod that is approximately 2 X 4
inches, interfaces with PC, and
stores 10,000 songs
• Wire-tag projects for GE and
Wal-Mart
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Project Life Cycle (PLC)

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 The challenges of project management

• The Project Manager (also plans, decides, organizes, leads and controls…)
• Manages temporary, non-repetitive activities and frequently acts independently of
the formal organization.
• Marshals resources for the project.
• Is linked directly to the customer interface.
• Provides direction, coordination, and integration
to the project team.
• Is responsible for performance and success of the project.
• Must induce the right people at the right time to address the right issues and make
the right decisions.

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 The importance of project management

• Factors leading to the increased use of project management:

• Compression of the product life cycle (ex. Project teams to shorten “time to
market”)
• Knowledge explosion
• Triple bottom line (planet, people, profit)
• Corporate downsizing
• Increased customer focus
• Small projects represent big problems
(managing portfolios by senior management is difficult,
prioritizing of projects often missing and measuring
inefficiencies is absent).

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 Benefits of an Integrative Approach to Project Management

• Integration (or centralization) of project management provides senior

management with:
• An overview of all project management activities
• A big picture of how organizational resources are used
• A risk assessment of their portfolio of projects
• A rough metric of the firm’s improvement in managing projects relative to others in
the industry
• Linkages of senior management with actual project execution management

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 Integrated Project Management Systems

• Problems resulting from the use of piecemeal project management systems:

• Do not tie together the overall strategies of the firm.
• Fail to prioritize selection of projects by their importance of their contribution to
the firm.
• Are not integrated throughout the project life cycle.
• Do not match project planning and controls with organizational culture to make
appropriate adjustments in support of project endeavors.

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Integrated Management of Projects

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 Major Functions of Portfolio Management

• Oversee project selection.

• Monitor aggregate resource levels and skills.
• Encourage use of best practices.
• Balance projects in the portfolio in order to represent a risk level appropriate
to the organization.
• Improve communication among all stakeholders.
• Create a total organization perspective that goes beyond silo thinking.
• Improve overall management of projects over time.

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The Technical and Sociocultural Dimensions
of the Project Management Process

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Example Work breakdown structure (WBS)

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 Other Key Terms

Project Management Institute (1969): offers services to project

management profession such as (industry) standards, research,
education, networking, advice, publications, etc.

Project Management Professional (PMP): certified since 1984 (ISO

17024), for experts only. Other certification: Certified Associate in
PM or CAPM for graduates.

Body of knowledge: guidelines and best practices (PMBOK Guide 5e

2013)

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PART 1 : MANAGING THE CONTEXT

• PART 1 : MANAGING THE CONTEXT

• Chapter1: Modern project management
Project management: the managerial process.

• Chapter 2: Organization, Strategy and Project

Selection
Project management: the managerial process.

• Chapter 3:Organization: structure and culture.

Project management: the managerial process.

• Chapter 10: Leadership: Being an Effective Project

Manager
Project management: the managerial process.

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Why Project Managers Need to Understand the Strategic Management
Process

• Changes in the organization’s mission and strategy

• Project managers must respond to changes with
appropriate decisions about future projects and
adjustments to current projects.
• Project managers who understand their
organization’s strategy can become effective
advocates of projects aligned with the firm’s
mission.

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 Projects and Strategy

• Mistakes caused by not understanding the role of projects in accomplishing

strategy:
• Focusing on problems or solutions with low strategic priority.
• Focusing on the immediate customer rather than the whole market
place and value chain.
• Overemphasizing technology that results in projects that pursue
exotic technology that does not fit the strategy or customer need
• Trying to solve customer issues with a product or service rather
than focusing on the 20% with 80% of the value (Pareto’s Law).
• Engaging in a never-ending search for perfection only the project
team really cares about.

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 The Strategic Management Process:
An Overview

• Strategic Management
• Requires every project to be clearly linked to strategy.
• Provides theme and focus of firm’s future direction.
• Responding to changes in the external
environment—environmental scanning
• Allocating scarce resources of the firm to
improve its competitive position—internal responses
to new programs
• Requires strong links among mission, goals, objectives,
strategy, and implementation.

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 Project Portfolio Management Problems

• The Implementation Gap

• The lack of understanding and consensus on strategy
among top management and middle-level (functional)
managers who independently implement the strategy.
• Organization Politics
• Project selection is based on the persuasiveness and
power of people advocating the projects (“sacred cows”).
• Resource Conflicts and Multitasking
• Multiproject environment creates interdependency
relationships of shared resources which results in the
starting, stopping, and restarting projects.

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A Portfolio Management System

• Design of a project portfolio system:

1. Classification of a project
2. Selection criteria depending upon
classification
3. Sources of proposals
4. Evaluating proposals
5. Managing the portfolio of projects.

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Classification of projects

1. Compliance projects (MUST DO): example

complying with regulation

2. Operational projects: support current

operations (higher efficiency and lower costs):
example TQM

3. Strategic projects: support long run mission

(example image building of VUB)

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 A Portfolio Management System

• Selection Criteria
• Financial: most used : payback (time to recover from
investment), net present value (NPV – including required
rate of return).
• Non-financial: projects of strategic importance to the
firm (less tangible criteria).
• Multi-Weighted Scoring Models
• Use several weighted selection criteria to evaluate project
proposals.
• Example: Analytical Hierarchy Process (AHP or Saaty-
model 1980): decomposition and hierarchy of criteria; =
mathematical synthesis of numerous judgements.

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 Financial Models

• The Payback Model

• Measures the time the project will take to recover
the project investment.
• Uses more desirable shorter paybacks.
• Emphasizes cash flows, a key factor in business.
• Limitations of Payback
• Ignores the time value of money.
• Assumes cash inflows for the investment period
(and not beyond).
• Does not consider profitability (ROI), minimum desired return
for management.
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 Nonfinancial Strategic Criteria:
examples

• To capture larger market share

• To make it difficult for competitors to enter the market
• To develop an enabler product, which by its introduction will
increase sales in more profitable products
• To develop core technology that will be used in next-generation
products
• To reduce dependency on unreliable suppliers
• To prevent government intervention and regulation

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 Multi-Criteria Selection Models

• Checklist Model
• Uses a list of questions to review potential projects and to determine their
acceptance or rejection (example list in book on p. 40).
• Fails to answer the relative importance or value of a potential project and doesn’t
allow for comparison with other potential projects.

• Multi-Weighted Scoring Model

• Uses several weighted qualitative and/or quantitative selection criteria to evaluate
project proposals (“alternatives”).
• Allows for comparison of projects with other potential (or alternative) projects

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Multi-Criteria Selection Models
An example

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MAMCA
DHL Case with multicriteria: decision tree MAMCA (multi-actor multi-criteria analysis)

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MAMCA
DHL Case with multicriteria: outcome project selection

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 Applying a Selection Model

• Project Classification
• Deciding how well a strategic or operations project fits the organization’s strategy.

• Selecting a Model
• Applying a weighted scoring model to bring projects to closer with the
organization’s strategic goals.

• Reduces the number of wasteful projects

• Helps identify proper goals for projects
• Helps everyone involved understand how
and why a project is selected

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 Project Proposals

• Sources and Solicitation of Project Proposals

• Within the organization
• Request for proposal (RFP) from external sources (contractors and vendors)
• Ranking Proposals and Selection of Projects
• Prioritizing requires discipline, accountability, responsibility, constraints, reduced
flexibility,
and loss of power.
• Managing the Portfolio
• Senior management input
• The priority team (project office) responsibilities

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 Managing the Portfolio

• Senior Management Input

• Provide guidance in selecting criteria that are aligned with the
organization’s goals
• Decide how to balance available resources among current
projects
• The Priority Team (project office) Responsibilities
• Publish the priority of every project: transparancy
• Ensure that the project selection process is open and free of
power politics.
• Reassess the organization’s goals and priorities
• Evaluate the progress of current projects

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 Project Portfolio Matrix Dimensions

Based on:
1. Y: technical feasibility (how easy is it?) and
2. X: NPV if success (commercial potential)

• Bread-and-butter Projects (ex. Software upgrade)

• Involve evolutionary improvements to current products and services.
• Pearls (ex. Subsurface imaging to locate gas)
• Represent revolutionary commercial opportunities using proven technical advances.
• Oysters (ex. Embryonic DNA treatments)
• Involve technological breakthroughs with high commercial payoffs.
• White Elephants (ex. In saturated market or proven toxic side effects)
• Showed promise at one time but are no longer viable.

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 Which type of the matrix?

• A new form of insulin

• Upgraded software tools with new features and ease of use
• Product extension of an anti-parasitic drug
• Manufacturing cost reduction program

Titel van dia

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 Which type of the matrix?

• Next generation ICT chip

• Artificial heart
• New drug for an unmet medical need
• Replacement for silver in offset printing

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 Which type of the matrix?

• New approach to pain control

• Optical computing
• Intelligent packaging materials
• Catalyst improvements for refineries
• New kinds of plastics

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 Which type of the matrix?

• DVD rental machine when prices dropped

• Immunochemistry product for a saturated market
• Innovative approach to cancer that was potent but too toxic
• Technical approach to match competitor’s actions
• Too small an investment in terminal automation

Titel van dia

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 Key Terms

• Implementation gap
• Net present value
• Organizational politics
• Payback
• Priority system
• Priority team
• Project portfolio
Project screening matrix
• Project sponsor
• Sacred cow
• Strategic management process

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PART 1 : MANAGING THE CONTEXT

• PART 1 : MANAGING THE CONTEXT

• Chapter1: Modern project management
Project management: the managerial process.

• Chapter 2: Organization, Strategy and Project

Selection
Project management: the managerial process.

• Chapter 3:Organization: structure and culture.

Project management: the managerial process.

• Chapter 10: Leadership: Being an Effective Project

Manager
Project management: the managerial process.

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Where we are now

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 Project Management Structures

• Challenges to Organizing Projects

• The uniqueness and short duration of projects relative to ongoing longer-term
organizational activities
• The multidisciplinary and cross-functional nature of projects creates authority and
responsibility dilemmas.
• Choosing an Appropriate Project Management Structure
• The best system balances
the needs of the project
with the needs of the
organization.

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 (1) Functional organization of projects

• Advantages • Disadvantages
1. No Structural Change 1. Lack of Focus
2. Flexibility 2. Poor Integration
3. In-Depth Expertise 3. Slow
4. Easy Post-Project Transition 4. Lack of Ownership

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(2) Organizing Projects through dedicated teams

• Teams operate as separate units under the

leadership of a full-time project manager.
• In a projectized organization, where
projects are the dominant form of business,
functional departments are responsible for
providing support for its teams.

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 Dedicated teams

• Advantages • Disadvantages
1. Simple (independency) 1. Expensive
2. Fast (full attention) 2. Internal Strife (projectitis, ex. Mac
team)
3. Cohesive (motivation)
3. Limited Technological Expertise
4. Cross-Functional Integration
4. Difficult Post-Project Transition
(specialists work together)

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(3) Matrix Structure

• Hybrid organizational structure (matrix) is overlaid on the

normal functional structure.
• Two chains of command (functional and project)
• Project participants report simultaneously to both
functional and project managers.
• Matrix structure optimizes the use of resources.
• Allows for participation on multiple projects while
performing normal functional duties.
• Achieves a greater integration of expertise and project
requirements.

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 Different matrix forms for projects

• Weak Form
• The authority of the functional manager predominates
and the project manager has indirect authority.
• Balanced Form
• The project manager sets the overall plan and the
functional manager determines how work to be done.
• Strong Form
• The project manager has broader control and functional
departments act as subcontractors
to the project.

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 Matrix forms

• Advantages • Disadvantages
1. Efficient (sharing resources) 1. Dysfunctional Conflict (accountability)
2. Strong Project Focus (holistic) 2. Infighting (scarce resources)
3. Easier Post-Project Transition 3. Stressful (2 bosses)
4. Flexible (resources and 4. Slow (2 bosses)
expertise)

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 Choosing the Appropriate Project Management Structure

• Organization (Form) Considerations

• How important is the project to the firm’s success?
• What percentage of core work involves projects?
• What level of resources (human and physical)
are available?

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 Choosing the Appropriate Project Management Structure

• Project Considerations (Hobbs and Ménard 7 factors: the higher a project

scores on these factors, the more autonomy and authority the project team
needs for success):
1. Size of project
2. Strategic importance
3. Novelty and need for innovation
4. Need for integration (number of departments involved)
5. Environmental complexity (number of external interfaces)
6. Budget and time constraints
7. Stability of resource requirements

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 Organizational Culture

• Organizational Culture Defined

• A system of shared norms, beliefs, values, and assumptions which bind people
together, thereby creating shared meanings.
• The “personality” of the organization that sets it
apart from other organizations.

• Provides a sense of identify to its members.

• Helps legitimize the management system of the
organization.
• Clarifies and reinforces standards of behavior.

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 Identifying Cultural Characteristics

• Study the physical characteristics of an organization.

• Read about the organization.
• Observe how people interact within the organization.
• Interpret stories and folklore surrounding the organization.

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 Key Terms

• Balanced matrix
• Dedicated project team
• Matrix
• Organizational culture
• Projectitis
• Projectized organization
• Project Office (PO)
• Strong matrix
• Weak matrix

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PART 1 : MANAGING THE CONTEXT

• PART 1 : MANAGING THE CONTEXT

• Chapter1: Modern project management
Project management: the managerial process.

• Chapter 2: Organization, Strategy and Project

Selection
Project management: the managerial process.

• Chapter 3:Organization: structure and culture.

Project management: the managerial process.

• Chapter 10: Leadership: Being an Effective

Project Manager
Project management: the managerial process.

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Where we are now

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 Managing versus Leading a Project
• Managing—coping with
complexity
• Formulate plans and objectives
• Monitor results
• Take corrective action
• Expedite activities
• Solve technical problems
• Serve as peacemaker
• Make tradeoffs among
time, costs, and project scope
• Leading—coping with change
• Recognize the need to change to keep
the project on track
• Initiate change
• Provide direction and motivation
• Innovate and adapt as necessary
• Integrate assigned resources
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 Managing Project Stakeholders

• Project Management Maxims:

• You can’t do it all and get it all done
• Projects usually involve a vast web of relationships.
• Hands-on work is not the same as leading.
• More pressure and more involvement can reduce
your effectiveness as a leader.
• What’s important to you likely isn’t as important
to someone else
• Different groups have different stakes (responsibilities, agendas, and priorities) in the
outcome of a project.
• Remember: project management is tough, exciting, and rewarding—endeavor to
persevere.

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 Influence as Exchange

• The Law of Reciprocity

• One good deed deserves another, and
likewise, one bad deed deserves another.
• Quid pro Quo
• Mutual exchanges of resources and services
(“back-scratching”) build relationships.
• Influence “Currencies” (Cohen and Bradford)
• Cooperative relationships are built on the exchange
of organizational “currencies” (favors).

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 Commonly Traded Organizational
Currencies

• Task-related currencies
• Resources Lending or giving money, budget increases, personnel, etc.
• Assistance Helping with existing projects or undertaking unwanted tasks.
• Cooperation Giving task support, providing quicker response time, or aiding
implementation.
• Information Providing organizational as well as technical knowledge.

• Position-related currencies
• Advancement Giving a task or assignment that can result in promotion.
• Recognition Acknowledging effort, accomplishments, or abilities.
• Visibility Providing a chance to be known by higher-ups or significant others in the
organization.
• Network/ Providing opportunities for linking with others.
contacts

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 Commonly Traded Organizational
Currencies

• Inspiration-related currencies
• Vision Being involved in a task that has larger significance for the unit, organization,
customer, or society.
• Excellence Having a chance to do important things really well.
• Ethical correctness Doing what is “right” by a higher standard than efficiency.
• Relationship-related currencies
• Acceptance Providing closeness and friendship.
• Personal support Giving personal and emotional backing.
• Understanding Listening to others’ concerns and issues.
• Personal-related currencies
• Challenge/learning Sharing tasks that increase skills and abilities.
• Ownership/involvement Letting others have ownership and influence.
• Gratitude Expressing appreciation.

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 Social Network Building

• Mapping Dependencies
• Project team perspective:
• Whose cooperation will we need?
• Whose agreement or approval will we need?
• Whose opposition would keep us
from accomplishing the project?
• Stakeholders’ perspective:
• What differences exist between the team
and those on whom the team will depend?
• How do the stakeholders view the project?
• What is the status of our relationships with the stakeholders?
• What sources of influence does the team have relative
to the stakeholders?

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 Management by Wandering Around

• Management by Wandering Around (MBWA)

• Involves managers spending the majority of their time in face-to-face interactions
with employees building cooperative relationships.
• Characteristics of Effective Project Managers
• Initiate contact with key players.
• Anticipate potential problems.
• Provide encouragement.
• Reinforce the objectives and vision of the project.
• Intervene to resolve conflicts and prevent stalemates.

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 Managing Upward Relations

• Project Success = Top Management Support

• Appropriate budgets
• Responsiveness to unexpected needs
• A clear signal to the organization
of the importance of cooperation
• Motivating the Project Team
• Influence top management in favor of the team:
• Rescind unreasonable demands
• Provide additional resources
• Recognize the accomplishments of team members

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 Ethics and Project Management

• Ethical Dilemmas
• Situations where it is difficult to determine
whether conduct is right or wrong:
• Padding of cost and time estimations
• Exaggerating pay-offs of project proposals
• Falsely assuring customers that everything is on track
• Being pressured to alter status reports
• Falsifying cost accounts
• Compromising safety standards to accelerate progress
• Approving shoddy work
• Code of conduct
• Professional standards and personal integrity

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 Contradictions of Project Management

• Innovate and maintain stability.

• See the big picture while getting your hands dirty.
• Encourage individuals but stress the team.
• Hands-off/Hands-on.
• Flexible but firm.
• Team versus organizational loyalties.

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 Qualities of an Effective Project Manager

1. Systems thinker
2. Personal integrity
3. Proactive
4. High emotional intelligence (EQ).
5. General business perspective
6. Effective time management
7. Skillful politician
8. Optimist

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 Suggestions for Project Managers

• Build relationships before you need them.

• Trust is sustained through frequent
face-to-face contact.
• Realize that “what goes around comes around.”

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