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Lesson 18. Understanding Project Management > Develop the Project Plan - Pg. 77

77 Chapter 18. Understanding Project Management In this lesson, you will learn how to use theories of project management to undertake and control your own goals. Defining the Project Goal Any project, great or small, will benefit from a defined plan. Since its origins in the 1960s with the National Aeronautics and Space Admin-istration (NASA), project management has become a proc- ess by which many major endeavors have been planned, implemented, and completed. Now consider a more mundane environment than space travel--let's take as an example a manu- facturing company whose upper management has decided to expand manufacturing of additional product lines. Your boss assigns to you the responsibility of planning and overseeing this project from beginning to end. You have become a project manager. We'll look at this scenario in the ex- amples in this lesson. Determining Feasibility Hopefully, in this example, feasibility will have already been determined as positive. In other words, upper management has conducted something similar to a business plan that confirms the following: · There is a market for the added product line to be included in the manufacturing facility. · All project costs, costs of production, and additional overhead will be recovered at a sufficient level and in a sufficient amount of time so as not to endanger the financial stability of the com- pany. · Projected financial statements have been realistically developed to justify the added costs. · The added manufacturing facility and related costs will result in increased profits for the com- pany. Plain English Financial statements are balance sheets, income statements, and cash flow statements. As a responsible employee and project manager, you will want to seek assurance that those con- ditions exist. Develop the Project Plan Your organizational skills will now be tested. You must develop a set of project tasks, and they must be coordinated to ensure that each step progresses in a manner that logically complements every other step in implementing and completing the project. The logical progression should be as follows: