Project Management

Jerry L. Wellman

Chapter Chapter 1 in Improving Project Performance, 2011, pp 1-35 from Palgrave Macmillan

Abstract: Abstract Project management is an important, even vital, business competency. The Economist Intelligence Unit, a leading source of economic and business research, says, “90 percent of global senior executives and project management experts say good project management is key to delivering successful results and gaining a competitive edge.”1 No wonder, since trillions of dollars are spent annually to fund projects. The Standish Group, an organization that monitors software-development projects, reported that during the 1990s in the United States, more than $250 billion was spent each year across approximately 175,000 information technology (IT)-application development projects.2 The United States Department of Defense (DOD) spent about $50 billion on research, development, and test evaluation in 2010, and most of it was controlled through project-based contracts.3 Global construction-project spending was $5.3 trillion during the first six months of 2010.4 If spending is an indicator of importance, then projects have been and continue to be a vital and major activity in many sectors of the world economy.

Date: 2011
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DOI: 10.1007/978-1-137-51237-6_1

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