UNIT 1
- 3. AN ENTERPRISE CAREFULLY PLANNED TO ACHIEVE A PARTICULAR AIM A PROPOSED PLANNED UNDERTAKING PROPOSED PLAN OF ACTION INTEGRATION OF 5 M’s MEN MATERIAL MONEY MACHINES METHOD
- 4. CONSTRAINTS OF A PROJECT
- 8. In project management, the term scope has two distinct uses: • Project Scope • Product Scope. Scope involve getting information required to start a project, and the features the product would have that would meet its stakeholders requirements. Project Scope "The work that needs to be accomplished to deliver a product, service, or result with the specified features and functions." Product Scope "The features and functions that characterize a product, service, or result." Project Scope is more work-oriented, (the how’s) while Product Scope is more oriented towards functional requirements. (the what’s)
- 11. Creating the WBS: subdividing the major project deliverables into smaller, more manageable components Validating scope: formalizing acceptance of the project deliverables Controlling scope: controlling changes to project scope throughout the life of the project * WBS- WORK BREAKDOWN STRUCTURE
- 12. • Product scope can be defined as the features or characteristics of a product itself. • Whether considering design, function or component parts, the key point is that product scope refers to the actual tangible product. • In the case of a good, questions of product scope would address how it works, how it is physically made and how it can be improved in future iterations. • Product scope does not have to refer to goods, Services or other forms of output can also be products as long as their production is the end goal of a process. • In the case of a service, product scope focuses on the actual tasks and responsibilities of the personnel delivering the service.
- 15. Civil Engineering, Construction, Petrochemical, Mining, and Quarrying Manufacturing Projects Management Projects
- 16. Civil Engineering, Construction, Petrochemical, Mining, and Quarrying • Projects in this category are those which spring to mind most readily whenever industrial projects are mentioned. • Once common feature is that the fulfilment phase must be conducted on a site that is exposed to the elements, and usually remote from the contractor's main office. • These projects incur special risks and problems of organization. • They often require massive capital investment, and they deserve (but do not always get) rigorous management of progress, finance, and quality. • For very large industrial projects the funding and resources needed are often too great for one contractor to risk or even find. • The organization and communications are therefore likely to be complicated by the participation of many different specialists and contractors, with the main players possibly acting together as a consortium or joint venture company.
- 17. Manufacturing Projects • Manufacturing projects aim to produce a piece of equipment or machinery, ship, aircraft, land vehicle or some other item of specially designed hardware. • The finished product might be purpose-built for a single customer, or the project could be generated and funded from within a company for the design and development of a new product intended for subsequent manufacture and sale in quantity. • Manufacturing projects are usually conducted in a factory or other home-based environment, where the company should be able to exercise on-the-spot management and provide an optimum environment. • Of course, these ideal conditions do not always apply. • Some manufacturing projects can involve work away from the home base, for example in installation, commissioning and start-up, initial customer training and subsequent service and maintenance. • More difficult is the case of a complex product (such as an aircraft) that is developed and manufactured by a consortium of companies, very possibly overlapping international borders, with all the consequent problems of risk, contractual difficulties, communication, coordination, and control.
- 18. Management Projects • This class of projects proves the point that every company, whatever its size, can expect to need project management expertise at least once in its lifetime. • These are the projects that arise when companies relocate their headquarters, develop and introduce a new computer system, launch a marketing campaign, prepare for a trade exhibition, produce feasibility or other study report, restructure the organization, mount a stage show, or generally engage in any operation that involves the management and co- ordination of activities to produce an end result that is not identifiable principally as an item of hardware or construction. • Although management projects might not result in a visible, tangible creation, much often depends on their successful outcome. • There are well-known cases, for instance, where failure to implement a new computer system correctly has caused serious operational breakdown and has exposed the managers responsible to public discredit. • Effective project management is at least as important for these projects as it is for the largest construction or manufacturing project.
- 20. Generation and Screening of a project idea begins when someone with specialized knowledge or expertise or some other competence feels that he can offer a product or service ♦ Which can cater to a presently unmet need and demand ♦ To serve a market where demand exceeds supply ♦ Which can effectively compete with similar products or services due to its better quality/price etc. An organization has to identify investment opportunities which are feasible and promising before taking a full fledged project analysis to know which projects merit further examination and appraisal.
- 21. GENERATION OF PROJECT IDEA MONITORING THE ENVIRONMENT CORPORATE APPRAISAL LOOKING FOR PROJECT IDEAS PRELIMINARY SCREENING PROJECT RATING INDEX SOURCES OF POSITIVE NET PRESENT VALUE ENTREPRENEUIRAL SKILLS