1528 project management process groups

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1 Idea Insights from GNPS

Project Management Process Groups

Episode 15-28



What is a Project?

• Projects are temporary in nature• Temporary team• Unique product, service, or result

• Examples• Installing new software system• Building a new refinery• Developing a new product

• On-going work involves day-to-day operations• Repeatable and predictable

• Examples• Monthly bookkeeping• Manufacturing diesel fuel• Sales of existing product



PM Process Groups

Initiating

Planning

Executing

Monitoring and Controlling

Closing



Initiating

• Business case for the project• Market needs• Technology advances• Regulatory requirements

• Key output is a Product Innovation Charter (PIC)• Links the innovation strategy to the execution plan• Identify stakeholders



Planning

Scope Schedule Budget Quality

Risk Human Resources Communications Stakeholders



Executing

• New product development work is done in stages of structured NPD process

• Work of project includes team member development, quality• Market research is key for NPD success

Opportunity Identification

Idea Generation

Concept Evaluation

Technical Development

Commercial Launch



Monitoring and Controlling

• Want to catch problems early!

• Monitoring measures the progress of the project

• Controlling allows corrective actions



Closing

• Evaluate the new product commercialization

• Post-launch review• Also called lessons learned review

• Feedback for future projects



For More Information

• See the full post at the Idea Incubator Blog• www.globalnpsolutions.com/idea-incubator/• Free registration

• Contact me!• 1-281-280-8717• [email protected]• 2323 Clear Lake City Blvd., #180-177 Houston, TX 77062

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1528 project management process groups

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