|Effective PM or PdM can be considered a skyscraper with 4 sides. PM attempts generally fail or fade away if one side is ignored. For the program to be successful, it requires to have balance in all 4 areas:
• Engineering: The tasks have to be the right tasks, done with the right techniques at the right frequency.
• Economic: The tasks must be worth doing. One measure is that doing the tasks furthers the business goals of the organization.
• People-Psychological: The people doing the PM should be motivated to the extent that they do the designated tasks properly.
• Management: PM must be built into the systems and procedures that control the business. The business systems need to cause good PM to occur.