Russell D. Archibald
PMP, PMI Fellow

PMI-Texas Connection 2001
Sept. 14-15, 2001 Houston, Texas.
Published here March 2002.

Abstract | Challenges | Full Power | Business Strategies | Objectives
Portfolio Management | Process | Principles | Key Roles | Planning & Control
Team Working | Improvement | Integration | Internet | Conclusion

Objectives of Modern Project Management

CEO Strategic Demands:
1. That every authorized project clearly supports an approved strategic objective of the organization.

2. That each project's risks are evaluated and managed using currently available methods and systems.

3. That all projects are evaluated, prioritized and approved on the basis of the same corporate criteria.

The objectives of project management are two-fold:

  • To assure that each project when initially conceived and authorized supports the organization's approved higher level strategic objectives and contains acceptable risks regarding the project's objectives: competitive, technical, cost and schedule.
  • To plan, control and lead each project simultaneously with all other projects effectively and efficiently so that each will achieve its approved objectives: meeting the related strategic objective by producing the specified results on schedule and within budget.

The first of these objectives is closely linked to the strategic management of the organization. Application of project management practices during the early strategic planning and project concept phases has been introduced in more organizations within the past few years, with beneficial results. Too frequently, project failures can be traced directly to unrealistic original technical, cost or schedule targets, and inadequate risk analysis and risk management.


Project:
A temporary endeavor undertaken to create a unique product, service or result.
Program: A group of related projects managed in a coordinated way.
Source: A Guide to the Project Management Body of Knowledge (PMBOK¬ Guide),
2000 Edition © Project Management Institute,ć 191

Project: A complex effort, usually less than three years in duration, made up of interrelated tasks performed by various organizations, with a well-defined objective, schedule and budget.
Program: A long-term undertaking that is usually made up of more than one project.
Source: Archibald, Russell D., Managing High-Technology Programs and Projects,
Second Edition. 1992, John Wiley & Sons, 24


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