Value-Driven Project Management (The IIL/Wiley Series in Project Management)

About this book

In the traditional view of project management if a project manager completed a project and had adhered to the triple constraints of time cost and performance the project was considered a success. Today in the eyes of the customer and the parent or sponsoring company if a completed project did not deliver its anticipated value it would be seen as a failure. Todays changing economic climate marked by an increasingly competitive global environment is driving project managers to become more business oriented. Projects must now be viewed from a strategic perspective within the context of a business or enterprise that needs to provide value to both the customer and the organization itself. As a result project managers are now required to possess the skills to complete a project within certain specifications and also know how to create and deliver value. Responding to the needs of todays project managers Value-Driven Project Management begins by changing the paradigm of project management. Rather than judge the success of a project from the perspectives of time budget and quality the authors demonstrate why success is only achieved when planned business values are met including: Internal value Financial value Future value Customer-related value The authors also offer best practices that allow you and your organization to create additional value in efficiency customer satisfaction and enhanced products and services. Finally the book helps you incorporate value into clearly defined business objectives and "sell" the value-driven process to executives. Throughout the book helpful illustrations clarify complex concepts and processes. Assigning valuable resources to projects that dont provide some tangible form of value to the organization and to the client is poor management and poor decision-making. On the other hand selecting and implementing projects that will deliver value and an acceptable return on investment is effective management and decision-making but is very challenging especially when a project may not provide its target value for years to come. With Value-Driven Project Management in hand youll discover the tools you need to ensure that projects deliver true value upon their completion.