Project as a System and its Management

The contribution aims to describe project as a system, to define project control goal and strategy, control variables and their relationships. Three common control variables represented by the project triangle, are extended by two other important variables – project risk and quality. The control system consists of two components: social one – project manager and project team – and technical one – project dynamic simulation model as a decision making support of project manager in project milestones. In the project planning phase, the project baseline with planned controlled variables is created. In milestones after project launch, the actual values of these variables are measured. If the actual values deviate from planned ones, corrective actions are proposed and new baseline for the following control interval is created. Project plan takes into account the actual project progress and optimum corrective actions are determined by simulation, respecting control strategy and availability of resources. The contribution presents list of references to articles dealing with project as a system and its simulation. In most cases, they refer to the project control using the Earned Value Management method and its derivatives. Using of the dynamic simulation model for project monitoring and control, suggested in this contribution, presents a novel approach. The proposed model can serve as departure point to future research of authors and for development of appropriate and applicable tool.