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    Project Management TY

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    ADEFRIS BELACHEW
    Project management involves planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. A project is a temporary endeavor undertaken to create a unique product or service, with a defined start and end date, that is planned to meet specific objectives. Project management focuses on managing the project scope, schedule, budget, and quality to achieve the project goals efficiently and effectively. Product development involves determining the right product to build and ensuring it is developed correctly through feasibility, desirability, and viability assessments. Both project management and product development follow life cycles with define, plan, execute, and close/operate phases, but product development focuses more on requirements, design, construction, and operation of the final product.

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    Project Management TY

    Uploaded by

    ADEFRIS BELACHEW
    84 views10 pages
    Project management involves planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. A project is a temporary endeavor undertaken to create a unique product or service, with a defined start and end date, that is planned to meet specific objectives. Project management focuses on managing the project scope, schedule, budget, and quality to achieve the project goals efficiently and effectively. Product development involves determining the right product to build and ensuring it is developed correctly through feasibility, desirability, and viability assessments. Both project management and product development follow life cycles with define, plan, execute, and close/operate phases, but product development focuses more on requirements, design, construction, and operation of the final product.

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    project management TY

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    Project management involves planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. A project is a temporary endeavor undertaken to create a unique product or service, with a defined start and end date, that is planned to meet specific objectives. Project management focuses on managing the project scope, schedule, budget, and quality to achieve the project goals efficiently and effectively. Product development involves determining the right product to build and ensuring it is developed correctly through feasibility, desirability, and viability assessments. Both project management and product development follow life cycles with define, plan, execute, and close/operate phases, but product development focuses more on requirements, design, construction, and operation of the final product.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    84 views10 pages

    Project Management TY

    Uploaded by

    ADEFRIS BELACHEW
    Project management involves planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. A project is a temporary endeavor undertaken to create a unique product or service, with a defined start and end date, that is planned to meet specific objectives. Project management focuses on managing the project scope, schedule, budget, and quality to achieve the project goals efficiently and effectively. Product development involves determining the right product to build and ensuring it is developed correctly through feasibility, desirability, and viability assessments. Both project management and product development follow life cycles with define, plan, execute, and close/operate phases, but product development focuses more on requirements, design, construction, and operation of the final product.

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    PROJECT MANAGEMENT

    A project is a [temporary] sequence of unique, complex, and connected activities having one goal or

    purpose and that must be completed by specific time, within budget, and according to specification. a
    project as “A temporary endeavor undertaken to create a unique product or service”.

    a project is a well planned activity that includes a correct consideration of alternatives,


    identification of key issues, broad participation and enforceability. It should be neat, clear and
    specific whose objective may be to create, expand or develop certain facilities to increase the
    production of goods or services to the community.

    Project management is the process of scoping, planning, staffing, organizing, directing, and controlling
    the development of an acceptable system at a minimum cost within a specified time frame.

    Project Objectives:
    The objectives (or goals) of any project will be,

     To complete the project within the allotted (or budgeted) funds.

     To execute the project in such a way that the project meets the quality standards.

     To ensure that the project is completed to the satisfaction of the end users.

     Avoiding unproven equipments

     To complete the project within the scheduled time limit.


    Attributes or Characteristics of a Project
    The distinctive characteristics of a project are thus:

    1. Projects have clear objectives 2. Projects are realistic:

    3. Projects are limited in time and space: A project has a definite time limit.

    4. Projects are collective:

    5. Projects are unique: no two projects are similar.

    6. Single- time activity: No project is often repeated. It will performed only once.

    7. Projects Includes risk and uncertainty

    8. Projects require evaluation

    9. Projects have life-cycle.

    10. Projects involve people, (project manager and project team

    11. Customer specific nature

    12. Optimality: optimum utilization of resources

    13.Complexity

    14.Flexibility

    15. Response to Environments


    PROJECT CLASSIFICATION
    1. Based on the Type of Activity

    A,Industrial project

    B,Non industrial project

    2,Based on the location of the project

    A, National project

    B,International project

    3,Based on the project Completion

    A,Normal project

    B,Crash project

    4,Based on ownership

    A,privet sector project

    B,puplic project

    C,joint sector project

    5,Based on Size

    A,small project

    B,Medium project

    C,Large project
    Attributes or Skills of a good Project Manager:
    An effective project manager is one who should have the following skills/capacities.

    1. Planning and organizational skills

    2. Personnel management skills

    3. Communication skills

    4. Ability to solve problems in their totality

    5. Ambition for achievement

    6. Ability to take suggestion

    7. Understanding the views of project team members and having a sympathetic attitude towards them
    8. Ability to develop alternative actions quickly

    9. Ability to make self-evaluation

    10. Effective time management

    11. Initiative and risk taking ability

    12. Conflict resolving capacity

    13. Team building skills

    14. Resource allocation skills

    15. Entrepreneurial skills


     When is a project successful?
     The traditional view on project success consists of three parts and is also called the iron
    triangle or triple-constraint:
     The project is executed on time.
     The project is executed within budget.
     The project produces an outcome of high quality. This consists of two dimensions:
     Product Scope: What is the product supposed to do?
     Performance: How well does the provided functionality work?
     Both product scope and performance should be defined at the start of the
    project and high quality is achieved when the project delivers as specified .

    Projects and Product Development


    Product development entails processes and techniques for determining the right product or service to
    build and methods to ensure it is developed correctly and efficiently.

    Measure success of product development

    Feasibility: Is the solution (technically) feasible?

    Desirability: Is there a market, do people want it?

    Viability: Can the solution be delivered in a sustainable way?

     The product development process explains what the work is and how to do it correctly. It
    describes the work required to create the product.
     Project management emphasizes communication and coordination so the work is performed
    efficiently. It focuses on managing the work.
    Project vs Product Development Life Cycle

    To better understand the similarities, relationships and differences between project management and product development
    management, it helps to take a closer look at the life cycles of both processes.

    A very basic process life cycle consists of four sequential stages:

     Define: The project goals, rules, approach and cost-schedule-quality equilibrium are agreed upon by the stakeholders.
     Plan: A plan is developed for the project. As each project is unique, this must be repeated every time for each project. This stage implies
    that the work to be done is identified, split up in workable pieces, the time required for each piece and the entire project is estimated,
    resources are assigned to the work to be done, costs are budgeted, risks are identified and risk management plans are set up, and many
    other activities.
     Execute: to keep the project on track and ensure that execution is done efficiently.
     Close: This stage entails activities to make the transition to the next phase (operations or another project), to establish formal closure in
    the eyes of the customer and to review project successes and failures in order to learn for future projects.

     Many different product development life cycles exist, but in most cycles one can distinguish the following four stages:
     Requirements: During this step the requirements for the product to develop are identified and described.
     Design: to set of design plans which allow the construction of the product.
     Construction: During this step, the product is built, documented and tested.
     Operate: In the final stage, the product will start to fulfill its purpose and requires many activities such as training, support
    and maintenance.
    Causes of Project Failure
    • Failure to establish upper-management commitment to the project

    • Lack of organization’s commitment to the system development methodology

    • Taking shortcuts through or around the system development methodology

    • Poor expectations management

    • Premature commitment to a fixed budget and schedule

    • Poor estimating techniques

    • Overoptimism

    • Inadequate people management skills

    • Failure to adapt to business change

    • Insufficient resources
    • Failure to “manage to the plan”

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