Excerpt from Term Paper:

......The aerospace focus on project management:
The volume and value of projects in progress worldwide defies estimation; however, success is more easily identified and measured. As Massue (2004) quoted, A recent "Chaos Report," published by industry analyst Standish Group, estimates that one-third of projects can be deemed "a pass"; two-thirds are either "challenged" or "outright failures" (p. 1). These rates are clearly disappointing assessments of the effectiveness of project management today. Key influencers within the Project Management community recognized the risk and responsibilities of their chosen profession. Over time, the professions response has been to organize, educate, certify, and adapt as conditions warranted. One development was the formation of professional associations such as the Project Management Institute (PMI). Their Web site at http://www.pmi.org boasts of a membership of 240,000 professionals in over 160 countries! A large number of PMI members formed a subgroup for the aerospace industry PMI Aerospace and Defense Special Interest Group (SIG) which has as one of goals to advance the state-of-the-art of project management for aerospace and defense project management professionals (Mission and vision, 2007)
It should be noted that on February 26 and 27, 2008, NASA will host its Fifth Annual NASA Project Management

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