Project management for new product development 2600-MFS-PMPD-host

Module Core Topic Key Concepts & Activities

I Five Project Management Process Groups Introduction to Projects and Project Management. Definition of a project (well-planned sequential series of tasks, defined beginning/end, scope, resources, budget). The five process groups: Initiating (concept or idea), Planning, Executing, Monitoring and controlling, and Closing (and postmortem).

PPM (Project Portfolio Management) and its "big picture" view.
II Project Management Methodologies Traditional vs. Agile approaches.
Detailed analysis of the Waterfall methodology (sequential phases, origins in construction). The origin and principles of Agile methodology (rapid feedback, people centric, evolutionary-delivery model). Introduction to PRINCE2 (PRojects IN Controlled Environments, 2nd edition). Discussion of when to match the method to the project, company, and team.

III

Business Model Introduction to New Product Concept and Product Development (conceptualization, design, development, marketing). Stage-Gate approach (discrete stages, Go/Kill decision points). Design Thinking Process (iterative, double diamond depiction, Empathize & Define & Ideate).

Understanding the Business Model (how a company plans to make money, or assumptions about what it gets paid for). Applying the Business Model Canvas (nine-part template for hypotheses on value proposition, customer segments, revenue streams, etc.). Applying the Value Proposition Canvas (Customer Profile: Jobs, Pains, Gains; Value map).
IV Triple Constraint
Detailed coverage of the Triple Constraint (Scope, Time, Cost) as three interrelated attributes that must be managed effectively. Definition of SCOPE (deliverables, goals, requirements), TIME (start/end dates, duration), and COST (estimation, resources, labor rates). Key Documentation: Business Case (project overview, goals, risks) and Statement of Work (SOW) (legal contract defining the plan). Work Breakdown Structure (WBS) and its relationship to schedule, estimates, and cost.
V Tools in PM / Risk management & Control
Understanding why projects are risky and the need for rigorous planning, evaluation, and monitoring. Tools for scheduling and control: Gantt chart and Milestones. Defining the Critical Path and critical tasks. Risk Management (monitoring and keeping risks under control, maintaining a risk log). Monitoring, Control, and Closing processes (continuous processes using baseline, milestones, responsibility matrix). Integrated change control. Review of common Project Management Mistakes (e.g., no detailed plan, no collaboration, scope creep). The importance of a Postmortem for documenting lessons learned. Overview of software for Project Management and PPM (e.g., ProjectLibre).

• Module I – Five Project Management Process Groups
• Introduction to projects: definition, characteristics (scope, resources, budget, start/end).
• The five process groups: Initiating, Planning, Executing, Monitoring & Controlling, and Closing (incl. postmortem); overview of Project Portfolio Management (PPM).

• Module II – Project Management Methodologies
• Traditional vs. Agile approaches: Waterfall (sequential phases) and Agile principles (rapid feedback, people-centric, evolutionary delivery).
• Introduction to PRINCE2; discussion on matching methodology to project type, company, and team.

• Module III – Business Model & Innovation
• New product development and innovation: Stage-Gate approach and Design Thinking process (double diamond: Empathize, Define, Ideate).
• Business model frameworks: Business Model Canvas (BMC) and Value Proposition Canvas (VPC).

• Module IV – Triple Constraint
• Scope, Time, and Cost as interrelated project constraints; defining deliverables, schedules, and resources.
• Key project documentation: Business Case, Statement of Work (SOW), and Work Breakdown Structure (WBS).

• Module V – Tools, Risk Management & Control
• Tools for scheduling and control: Gantt charts, milestones, Critical Path, risk logs; monitoring and integrated change control.
• Common mistakes in project management (e.g., scope creep, no collaboration); importance of postmortem; overview of project management software (e.g., ProjectLibre).