PM UNIT 1_2.pptx

PROJECT
A project is a combination of interrelated
activities with well defined objectives to
be completed in a specific time period.
Project is something special which is
different from routine and regular
activities

DEFINITIONS
 According to Harrison, “ Project is a non
routine, non repetitive, one-off
undertaking, with well defined time,
financial and technical performance
goal;”
 According to Project Management
Institute (PMI), “Project can be defined
as a temporary endeavor undertaken to
accomplish a unique objective at goal.”

EXAMPLES OF PROJECT
Construction of a house.
Writing a book.
Building a dam.
Introducing a new product in the market.
Construction of a new bridge over a
river.
A Politician contesting an election.
Organizing a seminar.

DIFFERENCE BETWEEN PROJECT
AND REGULAR OPERATIONS
Project Regular Operation
> Repetitive
> Limited Skills
> Equipments are
in continuous use
> Revenues are there
> One Time
> Use of wide variety
of skills
> Use of special purpose
equipment for
short duration
> No revenue during
Project stage

CHARACTERISTICS OF PROJECT
Well defined objectives
Uniqueness (Non-routine activity)
Complexity (Demands team work)
Life cycle
Risk and uncertainty
Change (In response to environment)
Non Recurring
Duration of activities uncertain
Completion deadline

CHARACTERISTICS OF
PROJECT(contd.)
Involves resources
Multidisciplinary & Interdependencies
Forecasting
Definite time limit
Team work
Conflict for resources
A separate disposable team
Performance measurement

Project
Management
Project
Management
MANAGEMENT
Knowledge, skills, tools and techniques
PROJECT ACTIVITIES
Conception, design, Implementation, Commissioning
SUCCESSFUL PROJECT
Within planned time, resource, scope and quality

INTRODUCTION TO PROJECT
MANAGEMENT
Meaning : Project management is a system
of procedures, practices, technologies and
know how that enables the planning,
organising, staffing, directing and controlling
of project activities to successfully manage a
project.
It may be described as planning ,organizing,
staffing ,directing and controlling some part
of the organization for relatively short period
of time to achieve the project objectives with
in laid down constraints

DEFINITION
It is defined as “The application of
knowledge, skills, tools and techniques to
project activities in order to meet project
requirement.”
“ Project Management is the art of directing
and coordinating human and material
resources throughout life of a project by
using modern management techniques to
achieve pre-determined objectives of scope ,
cost , time, quality to the equal satisfaction of
those involved.”
-Project mgt inst of USA

WHY PROJECT MANAGEMENT
Interdependency and complexity
Sharing of Resources
Size of Project
Importance of the Project
Changes in the market

3 Ws OF PROJECT
MANAGEMENT
What : Scientific application of modern
techniques and tools.
Whom : In planning, financing,
implementing, monitoring, controlling
and coordinating unique activities of
project
Why : To produce desirable outputs in
accordance with predetermined
objectives within constrains of time and
cost.

PROJECT PARAMETERS
Defining project scope
Defining quality
Managing time
Managing cost
Managing resources

IMPORTANCE OF PROJECT
MANAGEMENT
Increasing size and complexity of
projects
Increasing importance of financial
controls
Urgency of early completion
Growing amount of statutory regulations
Increased sophistication of technology
Inability of managers and architects to
manage the things

Shortening of product life cycle
Global competition
Cost control
Explosion of knowledge
Focus on customers

BENEFITS OF PROJECT
MANAGEMENT
Clear description of work to be performed
Responsibilities and assessment of tasks
Time limit for task completion
Measurement of accomplishment against
plans is possible
Problems are exposed in advance allowing
corrective action
Objective that cannot be met are identified
early

ELEMENTS OF A SUCCESSFUL
PROJECT
Has been finished on time.
Is within its cost budget.
Performs to technical/performance
standards which satisfies the end user.

STEPS OF PROJECT IDENTIFICATION
 Identify & Meet Stakeholders
 Set & Prioritize Goals
 Define Deliverables
 Create the Project Schedule
 Identify Issues and Complete a Risk
Assessment
 Present the Project Plan to Stakeholders

Identify & Meet Stakeholders
A stakeholder is anyone who is affected by
the results of project plan may include
customers and end users. Identify all
stakeholders and keep their interests while
creating project plan. Meet with the project
sponsors and key stakeholders to discuss
their needs and expectations, and
establish baselines for project scope,
budget, and timeline.

 Set & Prioritize Goals
 With a list of stakeholder needs,
prioritize them and set specific
project goals. These should outline
project objectives, or the metrics
and benefits to achieve. Write the
goals and the stakeholder needs to
address in the project plan so it's
clearly communicated and easily
shareable.

 Define Deliverables
Identify the deliverables and project
planning steps required to meet the
project's goals.

 Create the Project Schedule
Go through the each deliverable and
define the series of tasks that must be
completed to accomplish each one.
For each task, determine the amount
of time it will take, the resources
necessary, and who will be
responsible for execution.

Identify Issues and Complete a Risk
Assessment
Go through the each deliverable and
define the series of tasks that must be
completed to accomplish each one.
For each task, determine the amount
of time it will take, the resources
necessary, and who will be
responsible for execution.

Present the Project Plan to Stakeholders
Explain how project plan addresses
stakeholders' expectations, and
present the solutions to any conflicts.
Make sure that presentation isn't one-
sided. Have an open discussion with
stakeholders instead. Make project
plan clear and accessible to all
stakeholders.

Every project, from conception to completion,
passes through various phases of a life cycle
synonym to life cycle of living beings. There is
no universal consensus on the number of
phases in a project cycle. An understanding of
the life cycle is important to successful
completion of the project as it facilitates to
understand the logical sequence of events in
the continuum of progress from start to finish.
PROJECT LIFE CYCLE

STAGES OF PROJECT LIFE CYCLE
 Initiation
 Planning
 Execution
 Monitoring & Controlling
 Closing

PM UNIT 1_2.pptx

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