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Value-Driven Project Management

Value-Driven Project Management by Harold R. Kerzner
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In the traditional view of project management, if a projectmanager completed a project and had adhered to the tripleconstraints of time, cost, and performance, the project wasconsidered a success. Today, in the eyes of the customer and theparent or sponsoring company, if a completed project did notdeliver its anticipated value, it would be seen as a failure.

Today's changing economic climate, marked by an increasinglycompetitive global environment, is driving project managers tobecome more business oriented. Projects must now be viewed from astrategic perspective within the context of a business orenterprise that needs to provide value to both the customer and theorganization itself. As a result, project managers are now requiredto possess the skills to complete a project within certainspecifications, and also know how to create and deliver value.

Responding to the needs of today's project managers,Value-Driven Project Management begins by changing the paradigm ofproject management. Rather than judge the success of a project fromthe perspectives of time, budget, and quality, the authorsdemonstrate why success is only achieved when planned businessvalues are met, including:

  • Internal value

  • Financial value

  • Future value

  • Customer-related value

The authors also offer best practices that allow you and yourorganization to create additional value in efficiency, customersatisfaction, and enhanced products and services. Finally, the bookhelps you incorporate value into clearly defined businessobjectives and "sell" the value-driven process to executives.

Throughout the book, helpful illustrations clarify complexconcepts and processes.

Assigning valuable resources to projects that don't provide sometangible form of value to the organization and to the client ispoor management and poor decision-making. On the other hand,selecting and implementing projects that will deliver value and anacceptable return on investment is effective management anddecision-making, but is very challenging, especially when a projectmay not provide its target value for years to come. WithValue-Driven Project Management in hand, you'll discover the toolsyou need to ensure that projects deliver true value upon theircompletion.

Wiley; June 2009
288 pages; ISBN 9781118174425
Read online, or download in secure EPUB or secure PDF format
Title: Value-Driven Project Management
Author: Harold R. Kerzner; Frank P. Saladis; International Institute for Learning
 
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