Project management, a concept that has existed for about a century, is still relevant in the public and private sector today.
Five core members established the Project Management Institute in 1969 in the United States.
After three decades of development, the institute has more than 100,000 members in 125 countries. Its Hong Kong branch began in 1998 and has 450 members.
Internationally, more than 60 per cent of the institute's members are in the information technology sector, while the rest work in industries including aerospace, business management, construction, engineering, financial services and telecommunications.
It is estimated that in Hong Kong more than 10,000 professionals are engaged in project management. Of the institute's 450 Hong Kong members, 70 per cent are in IT, and the rest work in the finance, engineering, insurance and actuarial sectors.
'Project management is the application of knowledge, tools, skills and techniques in a broad range of activities to ensure projects being managed meet objectives, on time and within budget,' says Raymond Wong Ping-kuen, the Hong Kong chapter's vice-president.
The concept originated a century ago, but the term 'project management' emerged in the late 1950s and early 1960s, when projects began to demand close analysis because of their size, scope and duration, and the resources required.
