Not necessarily, and may actually complement these other tools. It may be that you find certain tasks easier or more convenient in SharePoint, and so decide to use it for those areas. Either way, you will decide which Harvard tool works best for each of your administrative and collaboration needs, and you are free to use that tool as needed. Your department may have specific recommendations or requirements to utilize SharePoint for a particular purpose or project, but SharePoint is not mandated in any way.
Project and team sites are being offered as standard SharePoint services. These sites have limited customizations. This approach ensures that the most valuable components of SharePoint are delivered to the widest customer base. The specific functionality to be delivered includes the ability to:
Collaborate on documents with others for the purpose of departmental or project work
Enable alerts to send notifications when a certain action takes place