Figure 624 Project Management Process Flow

Identify

Develop

Analyze

■ Identifying and following the progress of milestones and deliverables

■ Developing cost estimates based on a timeline

■ Analyzing the effects of change, and incorporating those results into the planning process

Success with project management should guarantee that the selected technology works, the business problem is solved, and the investment is contained. PLM resolves one of the major issues of project failure: scope creep. By clearly defining a project, its timeline, and its deliverables, you eliminate scope creep from the beginning.

As IT budgets continue to rise as a percentage of overall spending, organizations are under great pressure to manage risk and budget. In 2003, the Standish Group found that only 34 percent of the projects that were evaluated succeeded, and most failures were caused by poor project management. However, the most critical skills required for effectively managing a project are not always apparent or developed in an organization. A project management discipline is needed to develop most critical skills required for effectively managing a project.

The objective of developing this discipline is to provide the end-to-end project delivery and project management processes, standards, best practices, and tools to enable the organization to achieve higher levels of performance and organizational impact.

As noted earlier, formalized project management has a relatively poor record for success. In the context of IT, this is understandable. IT evolves so quickly that, if a project is longer than about six months, technology improvements begin to erode the value delivered by the project. The expectations of executives and other stakeholders, which are set not by the project but by what the market is doing, begin to either add requirements or withdraw support. This is why project management bodies such as the Project Management Institute (PMI) are actively seeking to redefine project management processes for IT.

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