TU-E2030 Advanced Project-based Management A (3-5 cr)
Professor in charge: Prof. Karlos Artto, Aalto University (firstname.lastname@example.org)
Lecturers: Prof. Karlos Artto, Jere Lehtinen (jere.j.lehtinen[at]aalto.fi)
Contact person in practical matters: Tom Olsson (email@example.com)
Level of the Course: Master level (major/minor)
Teaching Period: I-II (autumn)
Workload: 3 cr. version: Pre-assignments (reading pre-material, watching videos, doing assignments) 6 x 9 h = 54 h, Lectures 6 x 4 h = 24 h, Personal reflection 3 h, in total 81 h
5 cr. version: Pre-assignments (reading pre-material, watching videos, doing assignments) 6 x 9 h = 54 h, Lectures 6 x 4 h = 24 h, Personal reflection 3 h, empirical group assignment 45 h, guidance, reporting and feedback sessions 7 x 0.5-2 h = 8 h, in total 134 h
Upon completion of the 3 cr. course, students are able to:
- Identify the different project types and what different management approaches are suggested to them and why. Identify contextual factors that must be taken into account for selecting a management approach that fits. Know the potential complexities that may affect the project and its management
- Know the concept of system lifecycle and identify project’s position in various time periods, and inherent affecting events and impacts in time. Understand the logic of scheduling and the importance on managing time in projects
- Understand risk and uncertainty and their nature. Innovation and projects (or, innovation in projects). Know various systematic risk analysis and risk management methods, and their pros and cons. Classifications of uncertainties (e.g. from known uncertainty to chaos) and inherent management approaches that are effective
- Recognize the area of decision making on targets, deviation reporting, and changing targets and redirecting the project when necessary. Understand the pros and cons of rigidity and flexibility in targets and management methods
- Use the logic (and its different variants) of buying a project or a subproject. Know the specific features of buying a project vs. buying other types of goods or services.
- Distinguish different contractual settings, and their implications to the project. Know how to divide the responsibilities skillfully, i.e. which party should deliver what, and which party should integrate and what
- Distinguish various types of project strategy as a strategy of a single project, and the project’s connection to the parent firm (and/or multiple firms) and their strategies
- Know how firms organize their project management activities. How does the industry or the firm’s product and market affect the management of projects
- Understand the various ways how projects affect the firm’s business, and vice versa how the firm’s business affects the project and its management. Know the management at the level of multiple firms where the firms form a network or supply chain
Additionally, upon completion of the 5 cr. course students are able to:
- Distinguish between approaches and processes to manage real-life projects, project-based firms and project networks
- Analyze the management approaches connected to projects, firms, and their inherent businesses
- Choose and suggest appropriate management approach for a real-life project and the business connected to the project and the participating firms
Content: The course discusses the practical application of project management in different types of projects, and in different organizations and industries. Course covers advanced project management approaches and methodologies in specific core areas, including organizing, scheduling and management of time on project and system lifecycles, buying projects and subprojects, contracts, project strategy, management of risk and uncertainty, innovation in projects, management of projects at the firm level, and management of multi-firm networks.
Additionally, 5 cr. version provides a wider viewpoint of multi-project and multi-firm business contexts. For this purpose, the ‘project business framework’ is used in in the empirical assignment for analyzing a real-life project and project-based firm. Four distinctive management areas are included in the framework: management of a project, management of a project-based firm, management of a project network, and management of a business network.
Assessment Methods and Criteria: 3 cr. version: Pre-assignments (60%), Lecture participation (15%), class-assignments (25%)
5 cr. version: Pre-assignments (35%), Lecture participation (10%), class-assignments (15%), empirical assignment (40%)
In the 5 credits version, an empirical assignment is conducted in student groups after the lecture period. The assignment includes an empirical analysis of a selected project and a firm conducting the project as well as the wider business context and multi-firm network. The assignment is reported and presented in several cycles in a vivid interaction between the student groups and course staff.
Study Material: The course material consists of selected articles, book chapters, videos, and assignments that are distributed to students via MyCourses.
Substitutes for Courses: TU-22.1425
Course web-page: https://mycourses.aalto.fi/course/view.php?id=26131
Prerequisites: TU-C3010 Introduction to Project Management or similar
Grading scale: 1-5
Registration for Course: Registration via WebOodi before the submission of the pre-assignment (DL, Wed 11.9. at noon) for the first lecture.
A special application is required for the 5 credits version. The application procedure is explained during the first lecture.
Language of Instruction: English
Further Information: Participation requires that the course is included in the personal study plan of the student (HOPS)The number of the participants accepted to the 5 cr. version is limited, and based on a separate application procedure (the application procedure is explained in the first lecture).