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Project Management Blog
Sunday, 18 March 2007 04:16

So, what about knowledge

From an epistemological perspective, a dictionary definition is "knowledge or science, the branch of philosophy that is directed toward theories of the sources, nature, and limits of knowledge.

In today's world, knowledge is the asset many organizations started to recognize as being the most important aspect for creating a competitive edge in a highly volatile business environment.

Refraining from buzz words and terminology often used by management and research, knowledge is the accumulation of thoughts and skills that give a person or an organization its ability to survive, compete and prosper in the this changing and challenging world.

Work by many researchers like Nonaka in his book 'The Knowledge Creating Company' and many other researchers worldwide, has given a new dimension for knowledge management in organizations.

The research went into the details of human interaction which generates and promotes the dessimination of knowledge. Unlike manothers who advocate an Information Technology infracstructure as being the fundamental core of a knowledge system, Nonaka thinks that it more a human issue and culture than mere computers and databases.

 

 

Published in Blogs
Saturday, 10 March 2007 05:59

Managing Project Knowledge

For an organization whose fundamental work is the delivery of projects, it is extremely important that projects are viewed as a source of learning.


Project delivery is a process that produces an abundance of knowledge. Project teams encounter problems, assess and monitor risks, evaluate baselines, watch budgets and finance and manage stakeholder needs and expectations, as they do, they generate knowledge that is contained within the team.

Published in Blogs
Thursday, 25 January 2007 14:56

Defining "Project"

Several definitions exist for “project.” According to the PMBOK®Guide, it is: “A project is a temporary endeavor undertaken to create a unique product, service, or result.” Whichever specific definition you choose, nearly every project you manage will have many of the same characteristics. Let’s examine some of the most important ones.

At the most basic level, a project is actually the response to a need, the solution to a problem. Further, it’s a solution that promises a benefit—typically a financial benefit. The fundamental purpose for most projects is to either make money or save money. That’s why projects should be financially justifiable.

By definition, a project is temporary in nature; that means that it has a specific start and finish. A project consists of a well-defined collection of small jobs (tasks) and ordinarily culminates in the creation of an end product or products (deliverables). There will be a preferred sequence of execution for the project’s tasks (the schedule). A project is a unique, one-time undertaking; it will never again be done exactly the same way, by the same people, and within the same environment.

This is a noteworthy point, as it suggests that you will rarely have the benefit of a wealth of historical information when you start your project. You’ll have to launch your project with limited information or, worse yet, misinformation. There will always be some uncertainty associated with your project. This uncertainty represents risk—an ever-present threat to your ability to make definitive plans and predict outcomes with high levels of confidence. All of your projects consume resources—resources in the form of time, money, materials, and labor. One of your primary missions is to serve as the overall steward of these resources—to apply them as sparingly and as effectively as possible. So, there’s a general definition or explanation. Here are some examples of projects: introducing a new product to the marketplace, building and installing a piece of equipment, and running a political campaign. In contrast, the following activities are not projects: operating a manufacturing facility, supervising a work group, and running a retail business. These activities are ongoing.

There are three main characteristics of a project


   1. Temporary Endeavor
      A. Opportunity or Market Window
      B. Project team seldom outlives project
   2. Unique Product, Result or Service
       A. Project Product, Service or result is not temporary
       B. Uniqueness is an important characteristic
   3. Progressive Elaboration
       A. Works in steps or increments
       B. Coordinated with proper scope and definition


 

Published in Blogs
Thursday, 25 January 2007 06:01

PMP Boot Camp

PMP Exam Prep Classes or Boot Camps: These cram session courses are specifically designed to fill your mind with the knowledge required to pass the test. Typically a more expensive route, but very effective at helping you beat the PMP Exam. We recommend Exam Prep Classes through ReadySetPass.com, as their classes are priced mid-range and provide project managers with more understanding of real life application than that of industry competitors. Most of these courses qualify for contact hours or PDU’s, which can be used on your application with PMI. 

Published in Blogs

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