Think Until You Understand

1) Risk Management is all about Identification, Classification, and Mitigation of risks.

2) “The mission should always be to help organizations achieve their project objectives and objectives of scope, quality, budget, and schedule within the context of the natural, social and political environment in which the project is being developed.”

3) "Optimizing performance at one stage of the process may not be beneficial overall if additional costs or delays occur elsewhere. For example, saving money on the design process will be a false economy if the result is excess construction costs."

4) "Fragmentation of project management among different specialists may be necessary, but good communication and coordination among the participants is essential to accomplish the overall goals of the project. New information technologies can be instrumental in this process, especially the Internet and specialized Extranets."

5) "Productivity improvements are always of importance and value. As a result, introducing new materials and automated construction processes is always desirable as long as they are less expensive and are consistent with desired performance."

6) Generally, project management is distinguished from the general management of corporations by the mission-oriented nature of a project. A project organization will generally be terminated when the mission is accomplished. According to the Project Management Institute, the discipline of project management can be defined as follows:-
Project management is the art of directing and coordinating human and material resources throughout the life of a project by using modern management techniques to achieve predetermined objectives of scope, cost, time, quality, and participation satisfaction.

7) "The majority of all development projects fail to meet their time and cost targets, with the overrun typically between 40 and 200 percent."

8) "The most precious and intangible quality of leadership is trust."

9) System integration needs are determined by the chosen decomposition and its resulting architecture. We map the structure of interactions in order to plan for integration.

10) Project Management comprises a body of methods and tools that facilitate the achievement of project objectives: within time, within cost, at the desired performance/specification level, and while effectively and efficiently utilizing the assigned resources.