A GUIDE TO EFFECTIVE PROJECT MANAGEMENT IN TECHNOLOGY-BASED FIRMS Used effectively, project management can increase a firm’s market share, product quality, and customer satisfaction. Though technology-based companies place themselves at a competitive disadvantage if they neglect this strategic tool, many overlook project management’s benefits because they see themselves as continuously adapting organizations. In reality, this role makes project management even more vital. Managing Technology-Based Projects imparts the latest approaches and tools essential to lead a successful technology-based project. It outlines the practical integration of project management with four key areas: strategic alignment of projects within the enterprise, the project management process and its organizational support system, invaluable tools and techniques, and the individual and group leadership within a project’s organization. Complete with examples of industrial applications, the book includes: Methods for defining key performance indicators and assessing project management process effectiveness Suggestions for fine-tuning and continuous improvement Practical case scenarios, discussion topics, end-of-chapter reviews, and exercises Attention to project management as it applies to a globalized business No one in a managerial role should be without Thamhain’s expert advice. This guidebook is your road map to successfully incorporating enterprise project management into technology-based work.

Table of Contents:
Preface xiii 1 Challenges of Managing Projects in a Technology World 1 Apple iPhone 5 1 1.1 Project Management in a Changing World: Challenges and Opportunities 2 1.2 Global Dimensions 2 1.3 Project Deserve Special Attention within the Enterprise 3 1.4 The Unique Nature of Technology Projects 4 1.5 Evolution and Growth of Project Management and Technology 11 1.6 Where Are We Heading? 15 1.7 Key Points, Lessons, and Conclusions 16 1.8 Questions for Discussion and Exercises 17 1.9 PMBOK® References and Connections 17 Internet Links and Resources 18 References and Additional Readings 18 2 Contemporary Project Management: Concepts and Principles 19 Amazon 19 2.1 The Big Picture: The Art of Managing Projects 20 2.2 Project Management Defined 21 2.3 The Project Life Cycle (PLC) 22 2.4 Programs, Projects, Tasks, and Committees 24 2.5 The Role of the Project Manager 27 2.6 Classification of Projects 28 2.7 Project Management Standards and Guidelines 30 2.8 Key Points, Lessons, and Conclusions 36 2.9 Questions for Discussion and Exercises 36 2.10 PMBOK® References and Connections 37 Internet Links and Resources 37 References and Additional Readings 37 3 The Effective Project Manager: Skills, Values and Agility 39 Project Management Skills Emphasized in PMI’s Annual Report 39 3.1 Project-based Organizational Cultures and Values 39 3.2 Measuring Managerial Performance 40 3.3 Skill Requirements for Managing Technology Projects 43 3.4 How Learnable Are These Skills? 48 3.5 Transitioning from Individual Contributor to Project Management 48 3.6 Implications for Senior Management 50 3.7 Summary of Key Points and Conclusions 54 3.8 Questions for Discussion 55 3.9 PMBOK® References and Connections 56 Internet Links and Resources 56 References and Additional Readings 56 4 Aligning Projects with the Enterprise 59 Summer Olympics, 2016 in Rio. 59 4.1 Making the Case for Enterprise Project Management 60 4.2 Connecting with the Existing Strategy Framework 62 4.3 Project Portfolio Management (PPM) 64 4.4 Strategic Project Leadership 65 4.5 Where Are We Heading? 67 4.6 Summary of Key Points and Conclusions 70 4.7 Questions for Discussion 70 4.8 PMBOK® References and Connections 71 Internet Links and Resources 71 References and Additional Readings 71 5 Understanding Project Organizations 73 General Motors, Shanghai 73 5.1 Today’s Business Processes Require Flexibility, Speed, and Efficiency 74 5.2 Why Do We Need to Organize Differently to Manage Projects? 75 5.3 Organizational Layers and Subsystems 76 5.4 Organizational Designs for Project Management 78 5.5 Managerial Perspective 89 5.6 Building the Project Organization 91 5.7 Working Effectively in Resource-Shared Environments 97 5.8 Summary of Key Points and Conclusions 97 5.9 Questions for Discussions and Exercises 98 5.10 PMBOK® References and Connections 99 Internet Links and Resources 99 References and Additional Readings 99 6 The Project Management Office 102 IBM Wins PMO of the Year Award 102 6.1 Management Perspective 103 6.2 PMO Concept and Functionality 104 6.3 Reason for Establishing a Project Management Office (PMO) 110 6.4 Establishing a Project Management Office 116 6.5 A Final Note 122 6.6 Summary of Key Points and Conclusions 122 6.7 Questions for Discussion 123 6.8 PMBOK® References and Connections 124 Internet Links and Resources 124 References and Additional Readings 125 7 Project Evaluation and Selection 127 Multiple Project Selection at DIRECTV 127 7.1 Management Perspective 128 7.2 Quantitative Approaches to Project Evaluation and Selection 131 7.3 Qualitative Approaches to Project Evaluation and Selection 138 7.4 Recommendations for Effective Project Evaluation and Selection 139 7.5 Concluding Remarks 142 7.6 Summary of Key Points and Conclusions 143 7.7 Questions for Discussion and Exercises 144 7.8 PMBOK® References and Connections 144 Internet Links and Resources 145 References 145 7.9 Appendix: Summary Description of Terms, Variables, and Abbreviations used in This Chapter 147 8 Setting Up an Effective Planning and Control Cycle 148 Project Management for NASA 148 8.1 Planning the Cornerstone to Effective Project Management 150 8.2 An Integrated Approach to Project Planning 156 8.3 Managing the Planning Process 162 8.4 Summary of Key Points and Conclusions 162 8.5 Questions for Discussion and Exercises 164 8.6 PMBOK® References and Connections 164 Internet Links and Resources 165 References and Additional Readings 165 9 The Tools for Integrated Project Planning and Control 167 2012 London Summer Olympics 167 9.1 Management Perspective 168 9.2 The Basic Tools and Techniques for Project Management 176 9.3 Using Project Management Tools Property 206 9.4 A Model for Project Performance 207 9.5 Summary of Key Points and Conclusions 209 9.6 Questions for Discussion 210 9.7 PMBOK® References and Connections 210 Internet Links and Resources 211 References and Additional Readings 211 10 Defining the Project 213 Chevrolet Volt Electric Cars Development 213 10.1 The Need for a Clear Plan 214 10.2 Building the Project Plan 215 10.3 A Life Cycle Approach to Project Planning 228 10.4 Summary of Key Points and Conclusions 228 10.5 Questions for Discussion and Exercises 229 10.6 PMBOK® Guide References and Connections 230 Internet Links and Resources 230 References and Additional Readings 230 11 Resource Estimating and Budgeting 232 At Google, Technology Projects Are Done on a Rapid Schedule. 232 11.1 Why We Need Budgets 233 11.2 Cost Estimating Methods 234 11.3 Where to Begin? 238 11.4 Cost Estimating and Budgeting Philosophy 240 11.5 Summary of Key Points and Conclusions 243 11.6 Questions for Discussion and Exercises 244 11.7 PMBOK® Guide References and Connections 245 Internet Links and Resources 245 References and Additional Readings 246 12 Monitoring and Controlling Technology-Intensive Projects 248 Prairie Waters Project Wins PMI’s Project of the Year Award 248 12.1 The Challenges of Managerial Control 249 12.2 What We Know About Managerial Control of Complex Projects 251 12.3 What Do We Want to Control? 252 12.4 Available Tools and Techniques 254 12.5 Recommendations for Using Project Controls Effectively 261 12.6 Conclusion 264 12.7 Summary of Key Points and Conclusions 265 12.8 Questions for Discussion 266 12.9 PMBOK® References and Connections 267 Internet Links and Resources 268 References and Additional Readings 268 12.10 Appendix: Management Techniques for Project Control 270 13 Concurrent Engineering and Other Project Management Systems 278 The Pentagon Reconstruction Project 278 13.1 The Need for Effective Project Management Processes 279 13.2 A Spectrum of Contemporary Management Systems 281 13.3 Criteria for Success 284 13.4 Defining the Management Process—A Team-Based Effort 286 13.5 Understanding the Challenges 288 13.6 Understanding Organizational Linkages and Benefits 289 13.7 Recommendations for Setting Up and Managing Contemporary Systems 291 13.8 Conclusion 298 13.9 Summary of Key Points and Conclusions 300 13.10 Questions for Discussion 301 13.11 PMBOK® References and Connections 302 Internet Links and Resources 302 References and Additional Readings 302 14 Managing Risk and Uncertainty 307 Risk-Taking in New Product Developments is Part of Staying Competitive at Intel 307 14.1 The Role of Uncertainty in Managing Projects 308 14.2 What We Know about Risk Management 311 14.3 Key Variables Affecting Risk Management 313 14.4 A Simple Risk-Impact Model 317 14.5 How Do Risks Affect Project Performance? 321 14.6 Managing Risks in Projects: Lessons from the Field 323 14.7 Criteria for Effective Risk Management 326 14.8 A Final Note 331 14.9 Summary of Key Points and Conclusions 331 14.10 Questions for Discussion 333 14.11 PMBOK® References and Connections 334 Internet Links and Resources 334 References and Additional Readings 334 15 Managing by Commitment and Collaboration 338 Wind Energy Research 338 15.1 The Critical Role of Commitment and Collaboration 339 15.2 What Do We Know about Collaboration and Commitment? 342 15.3 Drivers and Barriers to Collaboration and Commitment 343 15.4 Managing by Commitment 346 15.5 Conclusion 349 15.6 Summary of Key Points and Conclusions 349 15.7 Questions for Discussion 350 15.8 PMBOK® References and Connections 350 Internet Links and Resources 351 References and Additional Readings 351 15.9 Appendix: Field Research Summary on Commitment 353 16 Managing People and Interfaces 362 At GE, Management Philosophy Focuses on People 362 16.1 Changing Roles and Challenges of Managerial Leadership 362 16.2 What Drives Performance in Technology-Based Teams 366 16.3 How To Motivate and Inspire 370 16.4 The Power Profile of Project Managers 378 16.5 Criteria and Recommendations for Working Effectively with People on Projects 381 16.6 Concluding Remark 383 16.7 Summary of Key Points and Conclusions 384 16.8 Questions for Discussion 386 16.9 PMBOK® References and Connections 386 Internet Links and Resources 387 References and Additional Readings 387 17 Managing Conflict in Project Organizations 391 Sun Tzu—The Ancient Art of Leadership: Making Conflict Unnecessary 391 17.1 Conflict—Good, Bad, and Inevitable 392 17.2 Categorizing Conflict in Organizations 393 17.3 How to Anticipate Issues 395 17.4 Conflict in the Project Life Cycle 398 17.5 How to Deal with Conflict 403 17.6 Criteria for Managing Conflict in Projects Effectively 410 17.7 Summary of Key Points and Conclusions 414 17.8 Questions for Discussion and Exercises 416 17.9 PMBOK® References and Connections 416 Internet Links and Resources 417 References and Additional Readings 417 18 Leading Technology Teams 421 Boeing 787 Dreamliner 421 18.1 Team Leadership—Critical to Project Success 422 18.2 Measuring Team Performance 426 18.3 Fostering Conditions for Collaboration, Commitment, and Self-Control 428 18.4 Building High-Performance Teams 430 18.5 Team Leadership Lessons 433 18.6 Guidelines for Effective Team Management 434 18.7 How to Make It Work 439 18.8 Summary of Key Points and Conclusions 441 18.9 Questions for Discussion and Exercises 441 18.10 PMBOK® References and Connections 442 Internet Links and Resources 443 References and Additional Readings 443 19 Professional Development: Training and Education 446 Developing Management Talent at GE 446 19.1 Project Managers Have Special Needs for Professional Development 447 19.2 Linking Knowledge, Skills, and Competency 448 19.3 Building Knowledge, Skills, and Competency 449 19.4 Developing Project Managers 453 19.5 Professional Education 454 19.6 Professional Certification and Accreditation 456 19.7 Career Opportunities in Project Management 459 19.8 Summary of Key Points and Conclusions 460 19.9 Questions for Discussion and Exercises 461 19.10 PMBOK® References and Connections 462 Internet Links and Resources 462 References and Additional Readings 463 20 The Future of Project Management 465 20.1 Is the Future Predictable? 465 20.2 Changes and Trends in the Project Environment 465 20.3 What Does It Mean for the Future of Project Management? 468 20.4 Summary of Key Points and Conclusions 470 20.5 Questions for Discussion and Exercises 471 Internet Links and Resources 471 References and Additional Readings 472 Appendix 1: Policy and Procedure Examples 473 Appendix 2: Professional Societies, Journals, and Conferences in Project Engineering, and Technology Management 481 Glossary 491 Index 499