Modern Project Management

There are powerful environmental forces contributing to the rapid expansion of project management approaches to business problems and opportunities. A project is defined as a nonroutine, one$-$time effort limited by time, resources, and performance specifications designed to meet customer needs. One of the distinguishing characteristics of project management is that it has both a beginning and an end and typically consists of four phases: defining, planning, executing, and closing. Effective project management begins with selecting and prioritizing projects that support the firm's mission and strategy. Successful implementation requires both technical and social skills. Project managers have to plan and budget projects as well as orchestrate the contributions of others.$$

$$ To be successful, project managers must build a cooperative network among a diverse set of allies. They begin by identifying who the key stakeholders on a project are, followed by a diagnosis of the nature of the relationships, and the basis for exercising influence. Effective project managers are skilled at acquiring and exercising a wide range of influence. They use this influence and a highly interactive management style to monitor project performance and initiate appropriate changes in project plans and direction. They do so in a manner that generates trust, which is ultimately based on others' perceptions of their character and competence.

Project managers are encouraged to keep in mind the following suggestions:

Build relationships before you need them. Identify key players and what you can do to help them before you need their assistance. It is always easier to receive a favor after you have granted one. This requires the project manager to see the project in systems terms and to appreciate how it affects other activities and agendas inside and outside the organization. From this perspective they can identify opportunities to do good deeds and garner the support of others.

Trust is sustained through frequent face$-$to$-$face contact. Trust withers through neglect. This is particularly true under conditions of rapid change and uncertainty that naturally engender doubt, suspicion, and even momentary bouts of paranoia. Project managers must maintain frequent contact with key stakeholders to keep abreast of developments, assuage concerns, engage in reality testing, and focus attention on the project. Frequent face$-$to$-$face interactions affirm mutual respect and trust in each other.

Ultimately, exercising influence in an effective and ethical manner begins and ends with how you view the other parties. Do you view them as potential partners or obstacles to your goals? If obstacles, then you wield your influence to manipulate and gain compliance and cooperation. If partners, you exercise influence to gain their commitment and support. People who view social network building as building partnerships see every interaction with two goals: resolving the immediate problem$/$ concern and improving the working relationship so that next time it will be even more effective. Experienced project managers realize that "what goes around comes around" and try at all cost to avoid antagonizing players for quick success.$$

What is a project defined as in the context?

a$.$

A nonroutine, one$-$time effort limited by time, resources, and performance specifications designed to meet customer needs.

b$.$

A regularly scheduled initiative bound by strict time regulations and resources to fulfil customer demands.

c$.$

A routine, ongoing effort bounded by unlimited time and resources to fulfill customer requirements.

d$.$

An annual, repetitive endeavor unrestricted by time limitations and resources to meet customer expectations.