INTERNATIONAL SCHOOL OF INFORMATICS & MANAGEMENT

THE IIS UNIVERSITY

Submitted byPREETAM JAIN

FMSIIS/2015/19193
9530258436

EVOLUTION OF PROJECT MANAGEMENT

1950-1980
PERT &
CPM

1980-2000
Computer
s&
Project
Managem
ent

2000Present
Rise of
Automatio
n&
Maturity
of
Efficiency

1900-1950
The Birth of
Modern Project
Management
and Henry
Project Management is the Gantt.
art of managing all the aspects of a project from inception to closure using a scientific
and structured methodology
Way Back in BC 2500 Pyramids of Egyptians were organised as Projects.
Before Industrialism : Important ventures like crusades and warfare organised as projects. No managerial philosophies then.
1911 Taylorism/ Scientific Management: Henry L Gantt invents the Gantt scheme of Project Management

1900 to 1950: The Birth of Modern Project Management and

Henry Gantt.
Henry Gantt, considered the founding father of modern project
management, developed planning and control techniques, such as the
famousGantt Chartto ensure monitoring and control of the project
schedule. This basic bar chart shows the phases of a project from inception
to completion.

1950 to 1980s: PERT and CPM

After WWII, project managers began to follow two mathematical ways of
conducting and managing projects. Program Evaluation Review Technique,
or PERT, analyses individual tasks by asserting a minimum amount of time
for completion. The Critical Path Method, or CPM, factored in all activities,
the completion time of such activities, and how the relate to identify
inefficiencies. However, CPM quickly became riddled with confusion.

1980 to 2000: Computers and Project Management

Computers brought connectivity and communication to the forefront of project
management in the 1980s. As technology grew into the 1990s, the Internet became
widely available through dial-up means. Some project management entities created
systems for project management purposes, but it was not until the late 19 thcentury
when the newfound era of computers and project management truly began.

2000 to Present: Rise of Automation and Maturity of Efficiency

As computer-controlled options and complex algorithms were developed, project
manager began to complete more work in less time with fewer errors than ever
before in history. As the Internet grew, web-based project management applications
were developed. Today, web-based project management applications may be seen on
mobile devices, individual computers, and wide-scale ERP systems.

KEY POINTS
Project management has been around since ancient times.
The Transcontinental Railroad was the first true project management undertaking in modern
times.
The Industrial Revolution and associated labour changes drove the need for better project
management tactics.
Henry Gantt used charts to monitor and manage projects.
Frederic Taylor authored a publication on better project management tactics to improve the
efficiency of skilled labourers.
PERT and CPM were two of the first mathematical formulas for discerning project risk.
Computers gave project managers new ways to compute risks and manage projects.
The Internet gave birth to mass communication and efficiency across all projects and in

Why a Project Fail?

WHAT IS RISK MANAGEMENT ?

Everything that is done in a project contains some measure of risk. No matter what
the activity, there is an element of risk that must be analyzed and weighed against
the potential rewards. The best organisations are those who can choose the right
tasks to take on, and the ones to avoid.

Risk

Managementis the process of identifying, analyzing and

responding torisk factors throughout the life of a project and in the
best interests of its objectives. Properrisk managementimplies
control of possible future events and is proactive rather than
reactive

10 GOLDEN RULES OF PROJECT RISK MANAGEMENT

Rule
Rule
Rule
Rule
Rule
Rule
Rule
Rule
Rule
Rule

1: Make Risk Management Part of Your Project

2: Identify Risks Early in Your Project
3: Communicate About Risks
4: Consider Both Threats and Opportunities
5: Clarify Ownership Issues
6: Prioritise Risks
7: Analyse Risks
8: Plan and Implement Risk Responses
9: Register Project Risks
10: Track Risks and Associated Tasks

In Summary
The ten golden risk rules above give you guidelines on how to implement risk
management successfully in your project. However, keep in mind that you can always
improve. Therefore, rule number 11 would be to use the Japanese Kaizen approach:
measure the effects of your risk management efforts and continuously implement
improvements to make it even better.