Introduction

To a general manager, project management could appear to be straightforward - the very nature of any project is likely to mean that there is a definite goal, a budget and a timeframe. When the project is completed everyone knows the outcome - it is easy to judge if the project has been completed to specification, the cost can be computed, and it is very obvious if the target date has been met. If only general management was that clear-cut! With general management there is always more than one goal, and often goals are competing for resources. There is also no set timeframe - the business does not finish at the end of the financial year, the show goes on year after year. So, given the clear-cut objectives of projects, why do so many projects end up late and over budget? Note, it is reported that in Europe construction projects run over budget by 270 per cent.

The body of knowledge for project management is now extensive. Most of us will be familiar with the project management's obsession with time, and the various critical path approaches to managing projects with milestones, early start, duration, early finish, late start, float and late finish calculations. There are several brands of software available that will calculate and...