Introduction
Lesson Outline
• Project definition
• Introduction to project management
• Project planning & PMP
Projects
A project is a temporary endeavor
• A project is a temporary endeavor undertaken to create a unique product, service, or
result.
• The temporary nature of projects indicates that a project has a definite beginning and
end.
• The end is reached when the project’s objectives have been achieved or when the project is
terminated because its objectives will not or cannot be met, or when the need for the project no
longer exists.
• A project may also be terminated if the client (customer, sponsor, or champion) wishes to
terminate the project.
• Temporary does not necessarily mean the duration of the project is short. It refers to the
project’s engagement and its longevity.
• Temporary does not typically apply to the product, service, or result created by the project; most
projects are undertaken to create a lasting outcome.
• E.g. : a project to build a national monument will create a result expected to last for centuries.
• Projects can also have social, economic, and environmental impacts that far outlive the projects
themselves.
Project creates a unique product/service
• Every project creates a unique product, service, or result.
• The outcome of the project may be tangible or intangible. Although
repetitive elements may be present in some project deliverables and
activities, this repetition does not change the fundamental, unique
characteristics of the project work.
• E.g.: office buildings can be constructed with the same or similar materials
and by the same or different teams. However, each building project remains
unique with a different location, different design, different circumstances and
situations, different stakeholders, and so on.
What is the outcome of a project ?
• A product that can be either a component of another item, an
enhancement of an item, or an end item in itself;
• A service or a capability to perform a service (e.g., a business function
that supports production or distribution);
• An improvement in the existing product or service lines (e.g., A Six
Sigma project undertaken to reduce defects); or
• A result, such as an outcome or document (e.g., a research project
that develops knowledge that can be used to determine whether a
trend exists or a new process will benefit society).
Examples of projects
• Developing a new product, service, or result;
• Effecting a change in the structure, processes, staffing, or style of an
organization;
• Developing or acquiring a new or modified information system (hardware
or software);
• Conducting a research effort whose outcome will be aptly recorded;
• Constructing a building, industrial plant, or infrastructure; or
• Implementing, improving, or enhancing existing business processes and
procedures.
• ….
Project definition
• As per Project Management Institute (PMI)
• A project is a temporary endeavor undertaken to create a unique product,
service, or result.
• It has a defined beginning and end in time, and therefore defined scope and
resources
• A project is not a routine operation, but a specific set of operations designed
to accomplish a singular goal
• A project has boundaries and operates within certain constraints of time,
money, quality, and functionality
• It is a set of interdependent tasks that have a common goal.
• Additional reading : https://www.pmi.org/about/learn-aboutpmi/what-is-project-management
Project Management
Project management
• Project management is the application of knowledge, skills, tools, and
techniques to project activities to meet the project requirements.
• Project management is accomplished through the appropriate application
and integration of the 47 logically grouped project management processes,
which are categorized into five Process Groups.
• These five Process Groups are:
•
•
•
•
•
Initiating,
Planning,
Executing,
Monitoring and Controlling, and
Closing
05 phases of a project
Initiating
Planning
Executing
Monitoring
and
Controlling
Closing
Managing a project is about,…
• Identifying requirements;
• Addressing the various needs, concerns, and expectations of the
stakeholders in planning and executing the project;
• Setting up, maintaining, and carrying out communications among
stakeholders that are active, effective, and collaborative in nature;
• Managing stakeholders towards meeting project requirements and creating
project deliverables;
• Balancing the competing project constraints, which include, but are not
limited to:
• Scope, Quality, Schedule, Budget, Resources, and Risks.
• The specific project characteristics and circumstances can influence the
constraints on which the project management team needs to focus.
Triple constraints
Time
(schedule)
Quality
Cost
(resources, budget)
Scope
(features, functionality)
Project Scope
• The boundaries of the project, defining what is included and
excluded.
• Define the goals, deadlines, and project deliverables aligning with
important project stakeholders
Project Timeline
• A visual representation of a project's tasks and events in chronological
order.
• A schedule for the entire project, from start to finish.
• A tool for managing and tracking project progress.
• A communication tool for keeping stakeholders informed
Project costs
• Projects involve two types of cost: indirect project costs and direct activity
costs.
• Indirect costs include items such as administrative overheads and facilities
costs (heating, lighting, etc.).
• Direct costs are concerned with additional labour costs, equipment leasing,
etc.
• We can spend extra money to reduce the time taken on the project;
however, this only makes sense up to the point where further direct cost
expenditure (such as the cost of employing additional contract staff)
becomes equal to the savings in indirect project costs (heating, lighting and
other overheads)
Project Life Cycle
Project Life Cycle
Project Life Cycles and Their Effects
Project Life Cycles and Their Effects
Impact of variable based on project time
Programme & Portfolio
Management
Program Management
• A program is defined as a group of related projects, subprograms, and
program activities managed in a coordinated way to obtain benefits
not available from managing them individually.
• Programs may include elements of related work outside the scope of
the discrete projects in the program.
• A project may or may not be part of a program but a program will
always have projects.
Portfolio Management
• A portfolio refers to projects, programs, subportfolios, and operations
managed as a group to achieve strategic objectives.
• The projects or programs of the portfolio may not necessarily be
interdependent or directly related.
• For example, an infrastructure firm that has the strategic objective of
“maximizing the return on its investments” may put together a portfolio
that includes a mix of projects in oil and gas, power, water, roads, rail, and
airports. From this mix, the firm may choose to manage related projects as
one program. All of the power projects may be grouped together as a
power program. Similarly, all of the water projects may be grouped
together as a water program. Thus, the power program and the water
program become integral components of the enterprise portfolio of the
infrastructure firm.
Projects, Program and Portfolio
Portfolio
Investment portfolio
Program
Energy projects
CSR
Water projects
Projects
Reservoir
project
Water tank
project
Oil-well project
Wind-power
station
Female
empowerment
project
Rural
community
engagement
Differentiate the
projects,
programs and
portfolios
Project initiation & project
charter
05 phases of a project
Initiating
Planning
Executing
Monitoring
and
Controlling
Closing
Initiating
Planning
Develop
project charter
Develop Project
management
plan (PMP)
Execution
Direct and
manage project
work
Monitoring and
controlling
Monitor and
control project
work
Closing
Close project
Project Charter
• A project charter is a document that formally authorizes the existence
of a project and provides the project manager with the authority to
apply organizational resources to project activities.
• It provides that a well-defined project start and project boundaries,
creation of a formal record of the project, and a direct way for senior
management to formally accept and commit to the project.
Developing Project Charter
Projects and Strategic Planning
• Projects are often utilized as a means of directly or indirectly
achieving objectives within an organization’s strategic plan.
• Projects are typically authorized as a result of one or more of the
following strategic considerations:
•
•
•
•
•
•
Market demand Strategic opportunity/business need
Social need
Environmental consideration
Customer request
Technological advance
Legal requirement
• We are learning these in Lesson 5
Project life cycle
Different types of projects
What does managing a project mean ?
• Project management is the use of specific knowledge, skills, tools and
techniques to deliver something of value to people. The development
of software for an improved business process, the construction of a
building, the relief effort after a natural disaster, the expansion of
sales into a new geographic market—these are all examples of
projects.
Key components of a project
• Project goals: A clear and concise description of what the project is trying to achieve.
• Deliverables: The specific products, services, or results that the project will produce.
• Constraints: The limitations that the project must operate within, including time, budget,
quality, and functionality.
• Interdependent tasks: A set of tasks that have a common goal and are dependent on
each other to achieve that goal.
• Project manager: The person responsible for overseeing the project and ensuring that it
stays on track.
• Stakeholders: The people or organizations that have an interest in the project and will be
affected by its outcome.
• Risks: Potential problems that could arise during the project and how they will be
addressed.
• Success criteria: The specific measures that will be used to determine whether the
project has been successful.
Initiating
Develop project
charter
Planning
Develop Project
management
plan (PMP)
Execution
Direct and
manage project
work
Monitoring and
controlling
Monitor and
control project
work
Closing
Close project
Project Management Plan (PMP)
Project Management Plan
• The project management plan is the document that describes how
the project will be executed, monitored, and controlled.
• It integrates and consolidates all of the subsidiary plans and baselines
from the planning processes.
• Project baselines include, but are not limited to:
• Scope baseline,
• Schedule baseline
• Cost baseline
Project Management Plan (PMP)
1. Scope
2. Time
3. Cost
4. Quality
5. HR
6. Communication
7. Risk
8. Procurement
9. Stakeholder
10. integration
Management Plan