nach oben

2019 | Buch

Kapitel lesen Erstes Kapitel lesen

Project Management

A Benefit Realisation Approach

verfasst von: Prof. Dr. Ofer Zwikael, John R. Smyrk

Verlag: Springer International Publishing

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

Einloggen, um Zugang zu erhalten

Über dieses Buch

This book is a complete project management toolkit for project leaders in business, research and industry.

Projects are approved and financed to generate benefits. Project Management: A Benefit Realisation Approach proposes a complete framework that supports this objective – from project selection and definition, through execution, and beyond implementation of deliverables until benefits are secured.

The book is the first to explain the creation of organisational value by suggesting a complete, internally-consistent and theoretically rigorous benefit-focused project management methodology, supported with an analytical technique: benefit engineering. Benefit engineering offers a practical approach to the design and maintenance of an organisation’s project portfolio.

Building upon the authors’ earlier successful book, Project Management for the Creation of Organisational Value, this comprehensively revised and expanded new book contains the addition of new chapters on project realisation. The book offers a rigorous explanation of how benefits emerge from a project. This approach is developed and strengthened — resulting in a completely client-oriented view of a project.

Senior executives, practitioners, students and academics will find in this book a comprehensive guide to the conduct of projects, which includes robust models, a set of consistent principles, an integrated glossary, enabling tools, illustrative examples and case studies.

Inhaltsverzeichnis

Frontmatter

Projects: A Conceptual Framework

Frontmatter

Chapter 1. What Roles Do Projects Serve in Business?

Abstract

It is through projects that organisations bring about the changes that enable them to achieve their strategic objectives. Despite this, accepted project management practice is still primarily concerned with an efficient delivery of outputs (on time, on cost and according to specification) rather than with the realisation of beneficial outcomes. We define a project as a “non-repeated planned work intended to enhance organisational performance”. In this chapter, we explore the nature of projects and examine many of the current issues surrounding the way they are managed.

Ofer Zwikael, John R. Smyrk

Chapter 2. A Theoretical Framework for Projects

Abstract

This chapter proposes a “theory of projects” by explaining how inputs (economic resources), processes (work), outputs (artefacts) and target outcomes (closely related to benefits) are connected. The ITO (Input-Transform-Outcome) model seeks to describe the mechanisms by which outcomes are generated from outputs and, as a by-product of that discussion, explain how the two concepts are distinguished. The ITO model is also used as the foundation for various elements of the project management framework covered elsewhere in the book.

Ofer Zwikael, John R. Smyrk

Chapter 3. The Structure of a Project

Abstract

The project environment is usefully distinguished from the operational environment (where routine operational processes are executed). The project environment is characterised by three structures imposed on this work so that it can be managed systematically. In the first of these, the life of a project is broken into four global phases. The second offers an anatomy for a project in which all the core information about a project is classified into seven elements. The third separates the work on a project into two layers: one related to the production of the project’s outputs and the other involving the management of that activity.

Ofer Zwikael, John R. Smyrk

Chapter 4. Project and Programme Governance

Abstract

To manage projects and programmes effectively, an organisational model needs to guide the working arrangements for all those who are involved. Project governance is concerned with the identification of the key players and descriptions of their roles in the project. Similarly, a governance structure is also required for programmes, so that related projects are effectively coordinated. This chapter first discusses project governance, followed by programme governance.

Ofer Zwikael, John R. Smyrk

Chapter 5. Stakeholder Management

Abstract

Each project has multiple internal and external stakeholders on whom the project can have a significant impact or who can impact its performance (either positively or negatively). The form of impact the second group can bring to bear may well be a response to the way they are affected by the project. For this reason, it is important stakeholders are managed carefully throughout the project’s life. This chapter discusses six classes of spontaneous stakeholders and nine classes of commissioned stakeholders in a project. In addition, we discuss a five-step stakeholder management process and propose two practical tools to support this process: a stakeholder register and a stakeholder report.

Ofer Zwikael, John R. Smyrk

Chapter 6. Risk and Issues Management

Abstract

In this chapter, we introduce the concepts of risk and issues, and then discuss tools to support their management during the project. The management of risk and issues are based on a common underlying process involving a sequence of steps including identification, analysis, programme formulation, implementation and control. The most important tools take the form of registers and reports for each of risk and issues.

Ofer Zwikael, John R. Smyrk

Chapter 7. Project Attractiveness

Abstract

When faced with opportunities to fund projects, organisations should address two questions: “Which candidate projects are suitable for funding?” And “How are they to be ranked in terms of their attractiveness for investment?” To answer these questions, it is necessary to assign each proposed project of some overall measure of “attractiveness for investment”. The proposed attractiveness measure is a function of two variables: expected return and riskiness. Project return is analogous to the financial investment concept of Return on Investment (RoI), while riskiness is similar to investment risk. Unlike the situation in investment theory, however, the calculation of a specific value for return is, in general, extremely difficult because often projects also have non-monetary benefits and disbenefits. Despite this, because they can be systematically and consistently traded off against each other, the concepts of attractiveness, return and riskiness provide us with a useful conceptual framework for thinking about the valuation of projects. Every organisation will have a lower bound on attractiveness—below which a proposed project would not be funded.

Ofer Zwikael, John R. Smyrk

Chapter 8. Project Success

Abstract

Accepted wisdom holds that a project is successful if its outputs are delivered fit-for-purpose, on time and within budget. If, however, as is implied by the Input-Transform-Outcome (ITO) model, beneficial outcomes reflect a project’s purpose, then the conventional view is inappropriate (because it judges success without reference to the realisation of target outcomes and hence the eventual generation of benefits). In this chapter, we introduce an assessment framework for projects and explore some key issues surrounding its application. According to this framework, “project success” involves separate judgements across three distinct layers—not just one. Two of these relate to the performance of two key players—the project manager and the project owner, respectively. The third relates to the performance of the investment represented by the project from the funder’s point of view. This approach to judging success employs the concepts of project “worth” and “return” introduced in Chap. 7. We also review the results of some research into the way project success is treated in practice and go on to consider some important determinants of success—in particular the concept of Critical Success Factors (CSF). The discussion examines some limitations of that concept and investigates an alternative approach, entitled Critical Success Processes (CSP).

Ofer Zwikael, John R. Smyrk

Leading a Project

Frontmatter

Chapter 9. Initiating a Project

Abstract

When a new project is being considered, the funder needs to know enough about the venture to make a reliable investment decision. The details necessary to support such a decision are presented formally as a business case. It is during initiation (the first of the four global phases spanning the life of a project) that the business case is assembled and appraised. This chapter explores initiation in some depth—including discussion about the processes involved, the roles filled by key players, the tools that are used and the structure of the business case itself.

Ofer Zwikael, John R. Smyrk

Chapter 10. Planning a Project

Abstract

When a funder accepts the business case for a proposed project and a project manager is appointed, it then progresses from initiation to the second global phase—planning. It is here that a script for the work (to be later undertaken during execution) is created. Chapter 9 discussed initiation in terms of four subprocesses (identification, definition, analysis and packaging). Planning is similar to the analysis subprocess in initiation but carried out in considerably more detail. This chapter discusses the major elements of project planning, the most effective tools and essential decision-making by project leaders.

Ofer Zwikael, John R. Smyrk

Chapter 11. Executing a Project

Abstract

Approval of the project plan is a significant decision because it implies that substantial work will now begin on execution which, in turn, requires the commitment of various resources. The processes that underpin initiation and planning are, in a sense, purely preparatory (because none of the work involved is related directly to the production of the project’s committed outputs). By way of contrast, the bulk of the work undertaken during execution is concerned directly with the production, delivery and implementation of the project’s outputs. The work of managing execution involves an iterative process cycle. This chapter describes this cycle and the tools used to support it.

Ofer Zwikael, John R. Smyrk

Chapter 12. Realising Outcomes from Projects

Abstract

When project execution is finished, all committed outputs become available to project customers—who are then able to participate in the execution of one or more downstream processes. The execution of downstream processes takes place in an operational (as distinct from project) environment. All going well, this will lead to the generation of the target outcomes which drove the original funding decision. It is possible, however, that target outcomes may not be realised as anticipated. This overlay of operational risk arises from a myriad of identified and unidentified threats associated with the execution of the project’s downstream processes. To manage this risk, we take an early portion of the operational environment and treat it as a fourth global phase of the project—called “outcomes realisation”.

Ofer Zwikael, John R. Smyrk

Backmatter

Titel: Project Management
verfasst von: Prof. Dr. Ofer Zwikael
John R. Smyrk
Verlag: Springer International Publishing
Electronic ISBN: 978-3-030-03174-9
Print ISBN: 978-3-030-03173-2
DOI: https://doi.org/10.1007/978-3-030-03174-9