Definition of a Project?

 A project is a temporary endeavour undertaken to create a unique product, service, or result.

 Characteristics include a specific goal, a start and end date, and the use of allocated
resources.

Why Project Management?

Project Management is a globally recognized practice helping professionals complete

projects more effectively and efficiently.

Today, several organizations utilize project management, allowing them to focus on the
priorities and overcome challenges increasing the probability of their success. However,
there's a two-way benefit involved here: Project Management benefits not only the
organizations and the business end, but the customers, as well as they, are involved from the
beginning to the end.

Project management is the application of knowledge, skills, tools, and techniques to

project activities to meet project requirements, to make the final deliverables in a finite
time and budget.

Importance of Project Management:

o Ensures projects are completed on time, within budget, and according to scope.
o Aligns project goals with organizational objectives.
o Increases the chances of project success by effectively managing resources and risk

How Project Management will help students?

Significantly impact their academic and professional careers.

1. Development of Essential Skills

 Organizational Skills: organize tasks, resources, and time efficiently.
 Leadership and Teamwork: learn how to lead teams, delegate tasks, and
collaborate effectively, skills that are highly valued in any career.
 Problem-Solving: Managing projects often involves identifying problems and
devising strategies to overcome them, which enhances critical thinking and
decision-making abilities.
 Communication: emphasizes clear and effective communication, ensuring that
everyone involved in the project is informed.
 Time Management, Goal Setting, Resource Management, Foundation for
Entrepreneurship (start a business and how to manage risk)

2. Preparation for Professional Roles

 Career Versatility: Knowledge of project management is applicable across

various industries, including business, technology, engineering, healthcare, and
more. This versatility increases students’ employability.
  Certification and Recognition: Understanding project management principles
prepares students for certifications like PMP (Project Management Professional)
by Project Management Institute, which are globally recognized and can
significantly boost their career prospects.
 Experience with Industry Tools: Students gain experience with project
management tools (e.g., Gantt charts, project management software), which are
commonly used in professional settings.

Characteristics of a Project

1. Unique Purpose: Every project is aimed at producing a specific product, service, or

result that is distinct from other work.
2. Temporary Nature: Projects have a start and an end date. They are not ongoing
operations.
3. Progressive Elaboration: Projects develop in steps and continue by increments, where
the project’s details become clearer as the project progresses.
4. Resources and Budget: Projects require the allocation of specific resources, such as
time, money, and human resources.
5. Uncertainty: Every project carries a certain degree of uncertainty and risk, which needs
to be managed throughout its lifecycle.

Terminologies/ Key Concepts of Project Management

1. Project Lifecycle: The sequence of phases that a project goes through from initiation
to closure. Common phases include initiation, planning, execution, monitoring and
controlling, and closing.
2. Triple Constraint (Iron Triangle): The three primary constraints in any project—
scope, time, and cost. Balancing these constraints is crucial for the success of a project.
3. Stakeholders: Individuals or groups who have an interest in the outcome of the project.
This includes clients, team members, sponsors, and other impacted parties.
4. Project Scope: The work required to deliver the project's output. Clearly defining and
controlling scope is essential to avoid scope creep.
5. Project Objectives: Specific, measurable goals that the project is intended to achieve.
These should align with the overall business objectives.
6. Risk Management: The process of identifying, analyzing, and responding to project
risks. Effective risk management can help mitigate potential issues that could derail the
project.
7. Project Management Tools: Software and methodologies that assist in planning,
scheduling, and tracking project progress. Examples include Gantt charts, Critical Path
Method (CPM), and Project Management Software (e.g., MS Project, Trello).

Constraints/limitations of Project Management?

1. The scope is a guaranteed set of deliverables, and the project is to be created, keeping
in mind the scope.
2. Time is one of the most critical stakeholder considerations and a vital measure of
project success. The time to complete the project must be estimated as accurately as
possible.
3. Quality is one such sphere that is almost always affected by the other constraints. If the
time or cost reduces the quality of the project will be drastically affected.
 4. Cost is another important aspect that needs to be considered, which is an estimated
factor of labor cost, factory, administration, software, equipment altogether.
5. Risk: The Project Manager must foresee the possible risks at every step of the project.
The risk part involves many what-if scenarios and the solution for those scenarios.
6. Every project has a combination of resources required to make it a success. Resources
refer to the limitations to complete a particular job; they can be in terms of people,
equipment, time, or other supplies.

The Project Management Lifecycle

 Overview of the Five Phases:

o Initiation: Starting the project and defining its scope.
o Planning: Developing a roadmap to achieve the project’s objectives.
o Execution: Implementing the project plan.
o Monitoring & Controlling: Tracking progress and making necessary
adjustments.
o Closing: Finalizing the project and assessing its success.

Key Focus Area in Project Management

1. Scope: Scope refers to the inputs provided to take the project from the first step to the last
step. The scope determines the features, boundaries, budget, and deadlines of the project.

2. Schedule: The schedule is a plan for performing a specific work within a particular time
interval and achieving the desired objective. The schedule refers to the starting date, the
finishing date, and the duration of the project.

3. Cost: Cost refers to the process of estimating, allocating, and monitoring the funds needed
in a project, and a lot of measures to ensure the project is on budget.

4. Quality: Quality refers to what a customer or a stakeholder requires from the project
deliverables. Quality includes processes and activities that are to be performed to meet the
objectives and requirements for which it was undertaken.

5. Resources: Resources help in carrying out a specific task in a project in the best possible
manner. Resources can be people, equipment, funds, facilities, or anything else that is
needed to meet the project requirements.

6. Stakeholders: Stakeholders are the ones who have an interest in the deliverables of the
project. Stakeholders can be part of the project team, project manager, project sponsors,
customers, or users.

7. Communication: Communication amongst all stakeholders is an essential aspect of project

management for successful project execution. Improving communication increases the ratio
of success and decreases the probability of risk.

8. Risk: A risk is an unexpected event that can affect anything in a project, people, technology,
processes, or resources. Every project has a certain amount of risks, and to do a successful
project; one must first identify that risk to deal with it efficiently.
9. Procurement: Procurement refers to the act of obtaining all the materials and services that
are needed to meet the project goals. Procurement includes the need to purchase, rent, or
contract with some external resources.

10. Critical Success Factor: Critical Success Factor refers to the elements that are necessary for
an organization to achieve the project's objectives. Critical Success Factor may differ from
one organization to another, depending on their respective goals.

11. Deliverables: Deliverables refer to the output within the scope of the project. There can be
one or more deliverables within a single project; these deliverables may be the items that
are to be sent externally to a customer or a stakeholder.

12. Work Breakdown: Work Breakdown is an efficient deliverable approach that refers to the
division of a task into smaller components. The smaller parts make the task-independent
and more manageable for the team.
Class 2 Date: 17.8.2024
Categories of Project
In project management, there are many categories that one needs to plan as well while
planning the project.

If you’re planning a project and want to implement then you can consider these categories.
Projects are often categorized on the basis of their scope, size, speed of implementation,
location, type and technology. The project can be classified on the grounds of the following.

A. Scope and Significance: The projects are generally classified on the basis of coverage
and magnitude of their operations. So on the basis of scope projects can be National or
International.
1. National Projects: There are also projects which are undertaken either by the
government itself or assigned to private entrepreneurs in a country. In a country like
India Public and Private sectors coexist to undertake major and minor projects.
Government projects and private projects operate in vastly different environments,
associated with different advantages and disadvantages. The only purpose of the National
Project is the growth and development of the economy and maintenance of existing
standards of living.

2. International Projects –The projects which are embarked on by “Foreign investors”

either by establishing a solitary or a branch of their unit or by mere participation in the
equity of any domestic company are called International Projects. These can be in the
form of joint ventures, MNC’s, and collaborations between two companies.

B.Type
According to the type, projects can be industrial and non-industrial.
1. Industrial
These are those projects which are undertaken with a view to developing the economy.
2. Non-Industrial
These projects can be related to welfare and maintenance of a standard of living in an
economy.

C. Level of Technology:

Technology plays a significant role in managing projects. Projects can be sub-divided into
four categories on the basis of technology.
 Conventional Technology Projects: These are the projects which use acquainted and
known technology in the continuous process. e.g. steel, cement, sugar, chemicals, and
fertilizers, etc.
 Non-Conventional Technology: Such kinds of projects apply if not the latest at least
contemporary mode technology e.g. projects using cranes i.e. a mechanical way of lifting.
 High-Tech Project: Huge investments are made in technology in these types of projects,
e.g., space projects, nuclear power projects, etc.
 Low Investment Projects: These types of projects demand low investment in technology
e.g., cosmetics and household utilities, etc.

D. Size and Scale of Operations: On the basis of size and scale of operations, projects can
be large scale, medium scale, and small scale.
 Small Scale Projects: These are the projects which can be completed within a time period
of 1-2 years and with investment below Rs. 5 crores.
 Medium Scale Projects: These are the projects which can be completed within a time
period of 2-5 years and with investment between Rs. 5 to Rs. 10 crores.
 Large Scale Projects: These are the projects which can be completed within a time
period of 5-10 years and with investment over and above Rs. 100 crores.

E. Ownership and Control: Projects can be divided into 3 categories according to their
governance.
 Public Sector Projects: These are fully owned and controlled by the government e.g.,
generating power and extracting minerals, etc.
 Private Sector Projects: These are fully owned by individuals and companies e.g.,
newspapers and magazines, etc.
 Joint Sector Projects: These projects are run and controlled by both government and
private individuals are under this category.

F. Speed of Implementation: According to the speed of implementation, projects can be

normal, crash, and disaster projects.
 Normal Projects: In this category, adequate time is allowed for implementation. It
requires minimal capital costs.
 Crash Projects: In this category, additional capital is incurred to save time.
 Disaster Projects: In this category, naturally capital cost will go up, but project time will
get drastically reduced. Failure of quality is accepted.

G.Purpose: There is always a purpose for everything. So, the projects are classified according
to purpose as follows.
 Rehabilitation Projects: These projects are undertaken by financially sound investing
groups to service sick units. It is very risky and success are very less in such projects.
 Balancing Projects: These are undertaken to cope with changes in the supply side of
economies of factors of production, to eliminate the underutilization of the actual
capacities, and enhance efficiency and effectiveness.
 Maintenance Projects: These projects involve overhauling the machinery, repairs, and
patching up activities at regular intervals.
 Modernization Projects: Modernization of old plants is required to cope with the
dynamic environment.

E. Others

Some other types of projects are as follows.

1. Capacity Expansion Projects: This involves enlarging the existing capacity of the
products.
2. Employees Welfare Project: The objective of such projects is to install infrastructural
facilities for improving working conditions and labor relations as well as to develop the
skills of the staff.

Project Constraints

 Project constraints are the general limitations that you need to account for
during the project life cycle.
For example, a cost constraint means that you’re limited to a specific project budget,
while a time constraint means you must complete your project within a specified
timeframe.
 Most project constraints impact one another, which is why constraint management is
crucial for project success.
If you decide that you must expand the project timeline, then you’ll likely need more money
to complete the project as well. Your project scope will also expand when the time and
cost of your project expand.
 .
 The triple constraints of project management—also known as the project
management triangle or the iron triangle—are scope, cost, and time.
You’ll need to balance these three elements in every project, and doing so can be
challenging because they all affect one another.
There are trade-offs when balancing scope, cost, and time, and you must decide what
you’re willing to sacrifice to maintain project alignment and functionality.

Trade-offs: are decisions that involve making a sacrifice to achieve another aspect of a
project. They can occur at different levels of the project management ecosystem, including
between projects. Some common trade-offs include:

 Time: The schedule for the project to reach completion

 Scope: The tasks required to fulfill the project's goals
 Cost: The financial constraints of a project, also known as the project budget
 Quality: Accepting slight budget overruns to maintain top quality
 Risk: Prioritizing high-value, high-risk projects
Other factors that can be considered in trade-offs include resources and stakeholder
expectations.
When identifying and evaluating trade-offs, it's important to consider the impact, feasibility,
and desirability of each option, as well as the trade-off tolerance of the project.
Tools like the triple constraint model, the quality-cost relationship, the risk-reward
matrix, and the decision tree can help with this process.
Managing trade-offs in project design is a crucial skill for project managers, especially in
complex and uncertain environments.

For example, your project can only stay within scope if your project’s budget and time
allotments stay steady. If you want to finish the project in less time, your scope must also
decrease to balance out the project unless you’re able to make adjustments to the budget.
 A. Scope
Project scope refers to a project’s magnitude in terms of quality, detail, and
deliverables. Time and money are dependencies of project scope, because as the project
scope grows, the project will require more time and money to complete.

You’ll need to be aware of scope creep throughout each project phase and work hard to
prevent it. You can prevent scope creep by creating detailed project plans and getting
project stakeholders to sign off on everything before production begins.

B. Cost: Cost constraints include the project budget as a whole and anything of financial
value required for your project. Items that may be a cost constraint include:
 Project cost
 Team member salaries
 Cost of equipment
 Cost of facilities
 Repair costs
 Material costs
Include any items in this section that require you to pull from your company’s financial
resources.

C. Time: Time management is essential for project success, and there are various time
constraints you’ll face during each phase of your project. When you try to increase your
project timeline, there will be consequences like extended deadlines, adjustments to
the team calendar, or less time for planning.
Time elements in your project that can lead to constraints may include:
 Overall project timeline
 Hours worked on project
 Internal calendars and goalposts
 Time allotted for planning and strategy
 Number of project phases

While scope, cost, and time are the triple constraints of project management, there are
three other project constraints you may encounter in your project life cycle: risk,
resources, and quality.
 D. Risk: Project risks are any unexpected occurrences that can affect your project. While
most project risks are negative, some can be positive.
For example, a new technology may be released while your project is in progress. This
technology may help you finish your project quicker or it may cause more competition
in the market and reduce your product value.
You can determine project risks using risk analysis and risk management strategies to keep
them at bay. Some risks you may face include:
 Stretched resources
 Operational mishaps
 Low performance
 Lack of clarity
 Scope creep
 High costs
 Time crunch
Use a risk register to assess the likelihood and severity of each project risk, then mitigate
the most likely and severe risks first.

E. Resources
Resources tie closely with cost constraints on your project because these project
requirements cost money. Without proper resource allocation, can experience lower
project quality, an increased budget, and timeline delays.

Some resources to consider include:

 People
 Equipment or materials
 Facilities
 Software
Use a resource management plan to ensure you have the resources you need for every
element of your project so that this constraint doesn’t negatively affect other project
areas.

F. Quality: Project quality is the measure of how well your project deliverables meet initial
expectations. Every project constraint affects project quality because project quality is
the ultimate result of your project. However, project quality is also its own constraint
because there are aspects of the project that can result in poor quality that aren’t
necessarily related to cost, time, resources, risk, or scope. These include:
 Lack of communication
 Poor design or development skills
 Too many project changes
You must manage project quality as its own entity while also balancing the other five
project constraints if you hope to achieve high project performance. If you fail to manage
your constraints, the result can be low project quality and low customer satisfaction.

How to manage project constraints?

There are strategies you can use to manage and balance project constraints as they arise.
Using project management methodologies like the PMBOK Guide’s phases of project
management and Agile practices, which encourage flexibility and collaboration, are a few
ways to control project constraints.
1. Understand your constraints: You can’t manage your project constraints unless you
understand what they are. Once you know your project constraints, you can plan around
them. For example, during project planning, assess what risks you might face as well
as what resources you’ll need and what those resources will cost.
2. Plan and strategize: When you consider all six of the most common constraints in
your project plan, you can move forward with a better perspective for what’s ahead. Your
project plan should include strategies to mitigate constraints and balance the triple
 constraints of scope, cost, and time. You can also implement strategies to address
additional project constraints , like trying to prevent project risks from occurring.
3. Control project quality: You can control project quality by regularly monitoring your
project plan and processes. As your team handles various tasks throughout project
execution, use work management software to ensure everyone is staying on track.
Establish a change control process so that if changes occur, you can prevent scope creep.
4. Manage risk: Use risk analysis to identify, assess, and prepare for potential project risks.
With a strong risk management plan in place, you can keep the most damaging project
risks at bay and prepare for any unexpected risks that may occur.
5. Communicate effectively: Team communication is essential for successful management of
project constraints. Without strong communication, you may think you’re balancing your
constraints while another team member is unknowingly disrupting your hard work. When
you discuss every aspect of the project with your team, you can work together to reach
project goals.
6. Embrace flexibility: You must embrace flexibility in order to effectively balance project
constraints. There will be times when you’ll need to compromise on project elements in
order to stay within scope. If you aren’t flexible, you’ll end up sacrificing p roject quality.
Keeping your customers or stakeholders satisfied should be your top priority, which
means accepting trade-offs when necessary.

Project Management Terminologies

Project management is a development that encompasses planning, coordination, and

control of the implementation of projects from beginning through climax.

Several terminologies play an important role in ensuring communication and coordination

among team members in this sphere.
Advantages: Offer a common language for project managers and stakeholders to
navigate the intricacies of developing projects.

1. Project: A project is a temporary activity with a beginning and an ending, that establishes
objectives. Yet, projects are singular and the form of their impact on the advancement of
an establishment’s capacities, items, or administrations.

2. Project Management: Project management is a process whereby skills, knowledge, and

tools are used to plan execute, and close project activities by agreed-upon requirements.
It requires harmonizing resources, risk management, and the successful implementation
of project goals.

3. Project Manager: The project manager is the person in charge of designing,

implementing, and wrapping a project. They manage the project team, so that tasks are
completed timely and within budget, intent being to attain success in a particular project.
 4. Scope: The definition of goals and objectives is referred to as scope. It describes the
objectives of the project including deliverables and restrictions that lead to goals
development for team members throughout their work.
Scope in project management can refer to two things:
 Product scope: Defines what a project’s deliverable looks like -- its functions, features,
and characteristics.
 Project scope: Details the work needed to deliver the product as specified. It also defines
what’s within and out of scope.
Sometimes referred to as requirement creep, scope creep occurs when the project scope
increases at any point during the project’s life cycle as a result of unauthorized changes to
the project’s requirements. Take note that project requirement changes happen all the time,
but as long as the changes are agreed upon, they’re not considered scope creep.

5. Stakeholder: Stakeholders are those people, who have stakes in an organization and seek
to protect them. These include sponsors, team members, and customers. Stakeholder
management is key to the project’s success.

6. Work Breakdown Structure (WBS): WBS is a type of hierarchic breakdown that

presents the entire scope of work, which has to be performed by members belonging to
the project team. It decomposes the project into small tasks that are easier to comprehend
and arrange activities.

7. Contingency plan: Also known as a plan B, a contingency plan is a backup plan put into
motion when the primary plan doesn’t go as expected.

Designed mainly in case events arise that could derail the successful delivery of a project
(which may or may not happen), contingency plans are part of a broader project risk
management strategy.

Contingency plans, however, aren’t solely created to respond to disruptive events. There
are positive contingency plans that seek to leverage strategic opportunities, such as the
passage of favourable legislation.

8. Critical Path: It is the path of tasks, that defines the shortest period a project can take.
Any task delays along the critical path have a direct effect on the duration of completion
of the project.

9. Gantt Chart: Created by the American inventor Henry Gantt in the 1910s, a Gantt
chart is a horizontal bar chart.

The Gantt Chart is the chart that describes a project timeline and it depicts tasks, their
connections as well as time frames for completion. It allows the project managers and
team members to view the timeline of their projects in a single look.

A Gantt chart is made up of:

 A horizontal axis showing a project’s total time broken down into days, weeks, or
months
 A vertical axis that represents the different tasks of a project
Gantt charts can be created using project management software, Excel, or even simple
grid paper.
 10. Milestone: A milestone is an important event or accomplishment on the project, often
signifying the completion of critical deliverables and phases. Milestones allow for
measuring progress and marking milestones.
Milestones break down large projects into smaller, more manageable sections, and can
also be used to remind you and your team of important schedules, such as:
 Meetings
 Workshops
 Budget reviews
 Client evaluation
A milestone’s start and finish dates are one and the same, meaning milestones have zero
durations. They’re usually symbolized by a diamond on a Gantt chart

10. Risk Management: Risk management includes sensitivity analysis to document,

measure, and address risks that could affect the project. It seeks to reduce uncertainties
and ensure the successful delivery of the project.

11. Requirements: Project requirements are tasks or conditions that projects must meet.
They outline the expected outcome of a project and the activities that must be done to
bring it to completion. Project requirements are broken down into several different
categories:
 Business requirements: Discuss what the business needs and why a project is being done.
 Stakeholder requirements: Specify what stakeholder groups expect from the output.
 Solution requirements: Outline the features (functional and non-functional) a deliverable
must have upon project completion. Functional requirements describe how it should
function and behave, while non-functional requirements detail the attributes that make a
solution successful, such as availability, scalability, response time, etc.
 Transition requirements: Explain what is needed to switch from an organization’s
current state to the state it envisions with the new product.

11. Communication Plan: A communication plan is a comprehensive formal document

describing the organization of project information delivery to stakeholders. It specifies
the communication channels, frequency, and type of information that needs to be shared.

12. Budget: A budget is the total estimated cost of a project, and all expenditures necessary
for its implementation. Budget control is primarily based on effective budget
management.

13. Quality Management: Quality management involves implementing processes and

activities that guarantee compliance with requirements about standards as well as project
deliverables. It incorporates quality assurance measures that enhance project success.

14. Closure Phase: A project closure phase is one where all activities end and the venture
undergoes closure officially. It includes the appraisal, documentation, and stakeholder
satisfaction assessment.
 15. Agile: Agile is a project management methodology in which projects are broken down
into small sections or cycles called iterations. The project’s stakeholders evaluate each
completed iteration, and the insights are used to guide the next stages of the project.

Agile project management can benefit projects that require a high degree of flexibility.

For example, a customer booking app -- or most apps, for that matter -- will go through a
series of iterations based on end-user feedback, which means the final result could be
vastly different from what was envisioned in the beginning.

Iterations allow teams to rectify mistakes and produce a better version of the product.
Features can be added in increments to address user needs, and a working product can be
launched earlier than scheduled.
Project management and workflow frameworks that fall under the agile category include:
 Scrum
 Kanban
 Extreme programming (XP)
 Lean project management

16. Scrum: A specific Agile framework is Scrum, which breaks work into iterations called
sprints. It fosters teamwork, resilience, and achievement of incremental value to the
stakeholders.
(The iterative process is a cycle of repeated work that a team creates to quickly prototype
their product and get feedback from customers and stakeholders.)

17. KPI (Key Performance Indicator): Performance measures are referred to as KPIs. They
give more meaningful information on the status of progress and issues, that might need
to be addressed or improved.

18. Change Control: Change control is how the changes to the project scope, schedule, and
cost are managed. It guarantees that any changes are reviewed and regulated to minimize
possible harmful effects on the project.

19. Dependency: In project management, some tasks are independent of other tasks. But in
most cases, tasks overlap in some way.

Dependencies, also known as logical relationships, indicate how previous tasks

(predecessor activities) are related to succeeding tasks (successor activities) and determine
the sequence in which activities are carried out.

There are four different types of dependency relationships. (For illustration purposes, we’ll
refer to the predecessor as task A and the successor as task B.)
 Finish-to-start dependency: Also called natural dependency, this is the most common
form of task dependency and simply means that task A must finish before task B can start.
For example, when building a house, you first must prepare the site for construction by
removing debris and vegetation before you can begin working on the foundation.
 Start-to-start dependency: In this scenario, task B cannot begin until task A begins. In
other words, the start of task B depends on the start of task A. For example, in a
collaborative writing environment, the writer must have started writing for the editor to
start editing.
 Finish-to-finish dependency: In this type of task relationship, task B cannot end until
task A ends. Both tasks can run simultaneously, but task A has to end for task B to also
end. Using the same writing example above but from a different dependency perspective,
the editor cannot finish editing until the writer is done writing. Another example is a
baseball broadcast not ending until the actual game finishes.
 Start-to-finish dependency: This type of dependency means that task A must start before
task B can finish. It’s a tricky, rarely used concept that has been the subject of much
discussion.

20. Baseline: is the condition or value against which a project’s progress is measured. The
baseline is a reference point defined and documented before work on a project begins.
Projects have three baselines:
 Scope baseline
 Cost baseline
 Schedule baseline

While tracked and managed separately, together they constitute what is called a
performance measurement baseline. Once the baseline has been established, the project
is ready to begin.

Baselines are fixed standards that must be strictly maintained but can be revised , with
approval, as a result of changes to the project’s requirements.

Frequent changes to the baseline, however, will render it meaningless, make the project
difficult to control overall, and can mean ineffective project planning, particularly during
the initial stages

21. Deliverables: A project management deliverable is the output delivered to the

client once a project is completed.
Deliverables take many forms -- e.g., a software application, a website, design drawings,
a skyscraper, or an engineering report -- and can be tangible or intangible.
It’s intangible if it’s not a physical product, such as in the case of training provided to a
group of employees.

Deliverables can also be internal or external:

External: When developed for an external customer.
Internal: When created for an in-house "client," such as an IT department or manager
working for the same company as the project team.

22. Project portfolio management

Project portfolio management (PPM) is the process of managing current and proposed
projects so organizations can pick the right projects at the right time.

It analyzes a company’s entire portfolio of projects to:

 Understand which projects align with their objectives
 Prioritize the projects that bring the most business benefit
When there are more projects than a company can accommodate, teams are overworked,
project quality suffers, deadlines are not met, and projects go over budget. The goal of
 PPM is to maximize a company’s limited time and resources by saying no to projects that
provide little value to the business.

23. Triple constraint

Constraints or restrictions are inherent in project management. All projects operate within
certain boundaries, the most significant being:
 Scope: The amount of work necessary to create the project’s outcome
 Schedule: The time allocated to complete the project
 Resources: The people, tools, equipment, and money the project needs
All three combined make up the triple constraint.

The triple constraint theory states that a change in one automatically affects the other two.
For example, adding more features to a product will require more time or more resources.
To speed up the delivery of a product, you’ll have to either decrease the scope or add more
resources. If you want to save on costs, you’ll need to work on a much simpler version of
the product.

Simply put, it’s all about priorities and compromises. The triple constraint is a reminder
that projects cannot be exhaustive, fast, and low cost all at the same time.

24. Waterfall method

The traditional waterfall methodology is a sequential, linear approach to project

management. The project is broken down into phases, and a phase cannot begin until the
one before it is complete. Each completed phase is final, meaning you can’t go back to
make changes unless you need to, an endeavor that can be extremely expensive.

With waterfall projects, the planning stage is critical. Each phase is mapped out in detail
and thoroughly documented. Project requirements are laid out right at the outset, and every
team member has clearly defined roles.

The waterfall method is best used in the following scenarios:

 On projects that have clear scopes, budgets, and timelines
 With clients who are unlikely to change their minds
 On projects that are for industries with stiff regulatory requirements
 If your organization follows a strict set of project management steps

How to Effectively Use Project Management Terminology in Day-to-Day Activities?

It is important to use project management terminology in everyday operations because it
guarantees efficient communication and effective projects are executed.

1. Consistent Terminology: Establish a team dictionary for project management terms.

This helps to avoid misinterpretations in the process, which means that all people speak
from one page.
2. Project Kick-off Meetings: Hold project kick-off meetings that will explain and talk
about common terms used in the field of project management. Confirm any
misconceptions and prompt members to comment on the questions.
 3. Document Definitions: Keep a project glossary or reference document in which
significant terms related to project management are defined. Send this document to the
team and use it whenever required.
4. Use Clear and Concise Language: In your communication, be brief and straightforward.
Do not use jargon or complicated language that would be confusing to team
members who are unfamiliar with the concepts of project management.
5. Training Sessions: Perform training activities or seminars on the basics of project
management. It can be particularly useful for team members who are new to project
management or those who may require a reintroduction.
6. Visual Aids: Employ visual tools like Gantt charts, flowcharts, or diagrams to
demonstrate project management ideas. If the information is presented visually, it will
help people understand and remember.
7. Regular Updates: Provide project management updates. Communicate about the
progress, milestones achieved, and any challenges or risks.
8. Encourage Questions: Let team members ask questions concerning project management
terminology. Be responsive to inquiries, and promote open communication.
9. Communication Plans: Create a communication strategy that describes who will
receive project information and how they may communicate with one another. Indicate
the channels, frequency, and medium of communication.
10. Feedback Mechanism: Develop a feedback channel whereby the team members
share any confusion or concerns about PM terminology. Feedback can help to improve
communication techniques.

Real-World Examples
1. Scope Creep
 Scenario: Suppose you are a project manager of software developers. To begin with, the
project scope involves building a mobile application that has particular functions. In the
course of implementation, stakeholders ask for new features that were not included in the
initial deal.
 Project Management Terminology in Action: Additional feature requests are a form of
scope creep. To deal with this, you should evaluate the effect on schedule and expense,
and communicate with stakeholders which can be necessary to change the project plan.
Projects "creeping" beyond scope are a project manager’s nightmare and are often a result of:
 Vague initial requirements
 Key stakeholders changing their minds
 Miscommunication among team members
 Misjudging the complexity of a project
 Poor change control
 When left uncontrolled, scope creep causes cost overruns and missed deadlines, even
reputational damage and hefty fines.

2. Risk Management
 Scenario: You manage a construction site for the construction of an office building. So
as the project manager, you identify a potential weather delay due to winter.
 Project Management Terminology in Action: The risk is the potential for weather-
related delays. This danger is controlled by formulating a contingency plan, tracking the
weather reports, and communicating with the construction team to prepare for
interruptions.
 3. Agile Development
 Scenario: Your team is completing a software development project using the Agile
approach. In a sprint review, the product owner recognizes an alteration in user needs.
 Project Management Terminology in Action: In the Agile environment, it is assumed
that the user’s changing requirements will be accommodated. The team recaptures their
situation, makes adjustments to the backlog, and includes any added requirements within
another sprint (short time-duration)

Finally, these terminologies act as a common language that promotes flexibility in response
to change, reduces risks, maximizes resources, and allows for easy interaction.

PMBOK
PMBOK is short for Project Management Body of Knowledge, a collection of project
management best practices, guidelines, and terminology from the Project Management
Institute (PMI), a not-for-profit association of project managers around the world.
Considered essential reading to qualify for the Project Management Professional (PMP)
and Certified Associate in Project Management (CAPM), which are certifications
administered by PMI, the PMBOK Guide (A Guide to the Project Management Body of
Knowledge) is now in its sixth edition.

PRINCE2
PRINCE2 stands for Projects in Controlled Environments and is a project management
methodology originally developed as a standard for the U.K. government’s IT projects.
Now a generic, process-based system adopted in various regions of the world, PRINCE2
is the relaunched version of the earlier PRINCE methodology.
PRINCE2 focuses on control and organization, with every project starting with a detailed
project management plan. It also works in agile environments. PRINCE2 and PRINCE2
Agile certifications are awarded by AXELOS, a joint venture between the U.K.’s Cabinet
Office and Capita, a London-based digital services company.

Project life cycle

Every project has a beginning and an end. The sequence of activities that a project goes
through from the starting gun to the finish line constitute what is called the project life
cycle.
A project’s life cycle follows four phases:
 Initiation: Also known as the conceptualization phase, this stage is where you identify the
project’s objectives -- the why of the project, so to speak. The project manager is
responsible for creating a project charter, which is a short, formal document detailing the
project’s goals and benefits, the approach for carrying it out, the project’s risks and
constraints, the concerned stakeholders, and a general overview of the budget.
 Planning: This stage is when you further develop the execution strategy and map out a
comprehensive plan with the timeline and tasks necessary to accomplish the project.
Depending on the needs of your project, key deliverables include a project plan, a financial
plan, a resource plan, a communications plan, a quality plan, etc.
 Implementation: This is when the project plan is executed. The project manager actively
monitors tasks and constantly communicates with team members to keep the project
moving within schedule and budget. Project performance is continuously assessed and
reported through team meetings and status updates.
 Closure: Also referred to as the termination stage, this phase officially marks the end of
the project. Deliverables are released to the client, and a post-mortem analysis is conducted
to identify what made the project successful or unsuccessful. The lessons gleaned from the
analysis will help project teams pinpoint best practices and improve their processes
moving forward.

History of Project Management

On a macro level organisations are motivated to implement project management techniques to

ensure that their undertakings (small or major) are delivered on time, within the cost budget
and to the stipulated quality.

On a micro level, project management combined with an appropriate information management

system has the objectives of: (a) reducing project overhead costs; (b) customising the project
workplace to fit the operational style of the project teams and respective team members; (c)
proactively informing the executive management strata of the strategic projects on a real-time
basis; (d) ensuring that project team members share accurate, meaningful and timely project
documents; and (e) ensuring that critical task deadlines are met.

However, before discussing the meaning and achievement of project success it is appropriate
at this stage to provide a brief history of project management.

Brief History of Project Management

Project management has been practiced for thousands of years dating back to the Egyptian
epoch, but it was in the mid-1950s that organisations commenced applying formal project
management tools and techniques to complex projects.

Modern project management methods had their origins in two parallel but different problems
of planning and control in projects in the United States.

1. The first case involved the U.S Navy, which at that time was concerned with the
control of contracts for its Polaris Missile project. These contracts consisted of
research, development work and manufacturing of parts that were unique and had
never been previously undertaken.This particular project was characterised by high
uncertainty, since neither cost nor time could be accurately estimated. Hence,
completion times were based on probabilities. Time estimates were based on
optimistic, pessimistic and most likely. These three time scenarios were
mathematically assessed to determine the probable completion date. This
procedure was called program evaluation review technique (PERT). Initially, the
PERT technique did not take into consideration cost. However, the cost feature was
later included using the same estimating approach as with time. Due to the three
estimation scenarios, PERT was found (and still is) to be best suited for projects with a
high degree of uncertainty reflecting their level of uniqueness.
 2. The second case, involved the private sector, namely, E.I du Pont de Nemours
Company, which had undertaken to construct major chemical plants in U.S.
Unlike the Navy Polaris project, these construction undertakings required accurate
time and cost estimates. The methodology developed by this company was originally
referred to as project planning and scheduling (PPS). PPS required realistic
estimates of cost and time, and is thus a more definitive approach than PERT. The
PPS technique was later developed into the critical path method (CPM) that
became very popular with the construction industry.

During the 1960s and 1970s, both PERT and CPM increased their popularity within the private
and public sectors. Defence Departments of various countries, NASA, and large engineering
and construction companies world-wide applied project management principles and tools to
manage large budget, schedule-driven projects. The popularity in the use of these project
management tools during this period coincided with the development of computers and
the associated packages that specialised in project management. However, initially these
computer packages were very costly and were executed only on mainframe or mini
computers.

The use of project management techniques in the 1980s was facilitated with the advent of
the personal computer and associated low cost project management software. Hence,
during this period, the manufacturing and software development sectors commenced to adopt
and implement sophisticated project management practices as well. By the 1990s, project
management theories, tools and techniques were widely received by different industries
and organisations.

Four Periods in the Development of Modern Project Management

[1] Prior to 1958: Craft system to human relations. During this time, the evolution of
technology, such as, automobiles and telecommunications shortened the project schedule.
For instance, automobiles allowed effective resource allocation and mobility, whilst the
telecommunication system increased the speed of communication.

Furthermore, the job specification which later became the basis of developing the Work
Breakdown Structure (WBS) was widely used and Henry Gantt invented the Gantt chart.
Examples of projects undertaken during this period as supported by documented evidence
include: (a) Building the Pacific Railroad in 1850s; (b) Construction of the Hoover Dam in
1931-1936, that employed approximately 5,200 workers and is still one of the highest gravity
dams in the U.S. generating about four billion kilowatt hours a year; and (c) The Manhattan
Project in 1942-1945 that was the pioneer research and development project for producing the
atomic bomb, involving 125,000 workers and costing nearly $2 billion.

[2] 1958-1979: Application of Management Science. Significant technology advancement

took place between 1958 and 1979, such as, the first automatic plain-paper copier by Xerox
in 1959. Between 1956 and 1958 several core project management tools including CPM and
PERT were introduced. However, this period was characterised by the rapid development of
computer technology. The progression from the mainframe to the mini-computer in the 1970s
made computers affordable to medium size companies. In 1975, Bill Gates and Paul Allen
founded Microsoft. Furthermore, the evolution of computer technology facilitated the
emergence of several project management software companies, including, Artemis (1977),
Oracle (1977), and Scitor Corporation (1979). In the 1970s other project management
tools such as Material Requirements Planning (MRP) were also introduced.

Examples of projects undertaken during this period and which influenced the development of
modem project management as we know it today include: (a) Polaris missile project initiated
in 1956 that had the objective of delivering nuclear missiles carried by submarines, known as
Fleet Ballistic Missile for the U.S Navy. The project successfully launched its first Polaris
missile in 1961; (b) Apollo project initiated in 1960 with the objective of sending man to the
moon; and (c) E.I du Pont de Nemours chemical plant project commencing in 1958, that had
the objective of building major chemical production plants across the U.S.

[3] 1980-1994: Production Centre Human Resources. The 1980s and 1990s are
characterised by the revolutionary development in the information management sector with the
introduction of the personal computer (PC) and associated computer communications
networking facilities. This development resulted in having low cost multitasking PCs that
had high efficiency in managing and controlling complex project schedules. During this
period low cost project management software for PCs became widely available that made
project management techniques more easily accessible.

Examples of major projects undertaken during this period that illustrate the application of high
technology, and project management tools and practices include: (a) England France Channel
project, 1989 to1991. This project was an international project that involved two governments,
several financial institutions, engineering construction companies, and other various
organisations from the two countries. The language, use of standard metrics, and other
communication differences needed to be closely coordinated; (b) Space Shuttle Challenger
project, 1983 to 1986. The disaster of the Challenger space shuttle focused attention on risk
management, group dynamics, and quality management; and (c) xv Calgary Winter Olympic
of 1988, which successfully applied project management practices to event management.

[4] 1995-Present: Creating a New Environment. This period is dominated by the

developments related to the Internet that changed dramatically business practices in the
mid 1990s. The Internet has provided fast, interactive, and customised new medium that
allows people to browse, purchase, and track products and services online instantly. This
has resulted in making firms more productive, more efficient, and more client oriented.
Furthermore, many of today's project management software have an Internet connectivity
feature. This allows automatic uploading of data so that anyone around the globe with a
standard browser can: (a) input the most recent status of their assigned tasks; (b) find out how
the overall project is doing; (c) be informed of any delays or advances in the schedule; and (d)
stay "in the loop" for their project role, while working independently at a remote site.

An example of a major project undertaken during this period is the Year 2000 (Y2K) project.
The Y2K Project, known as the millennium bug referred to the problem that computers may
not function correctly on January 1st, 2000 at 12 AM. This was a global phenomenon and was
highly problematic because resolving the problem at one's organisation did not guarantee
immunity, since a breakdown in the organisation's supply chain could affect the organisation's
operating capability. Many organisations set up a project office to control and comply with
their stakeholders regarding the Y2K issue. Furthermore, use of the Internet was common
practice that led to the establishment of the virtual project office. The goal of this virtual project
office was: (a) to deliver uninterrupted turn-of-the-century; (b) monitor Y2K project efforts;
(c) provide coordination; (d) develop a risk management plan; and (e) communicate Y2K
compliance efforts with various stakeholders. Thus, the virtual project office was a focal point
for all the project works, and it increased the awareness and importance of risk management
practices to numerous organisations.

Research by Roberts and Furlonger in a study of information systems projects show that
using a reasonably detailed project management methodology, as compared to a loose
methodology, improves productivity by 20 to 30 percent.

Furthermore, the use of a formalised project management structure to projects can facilitate:
(a) the clarification of project scope; (b) agreement of objectives and goals; (c) identifying
resources needed; (d) ensuring accountability for results and performance; (e) and encouraging
the project team to focus on the final benefits to be achieved.

Moreover, the research indicates that 85-90% of projects fail to deliver on time, on budget
and to the quality of performance expected. The major causes identified for this situation
include:

1. Lack of a valid business case justifying the project;

2. Objectives not properly defined and agreed;
3. Lack of communication and stakeholder management;
4. Outcomes and/or benefits not properly defined in measurable terms;
5. Lack of quality control;
6. Poor estimation of duration and cost;
7. Inadequate definition and acceptance of roles (governance);
8. Insufficient planning and coordination of resources.

It should be emphasised that the causes for the failure to deliver on time, on budget and to the
quality of performance expected could be addressed by the application of project management
practices. Furthermore, the failure to deliver on time, on budget and to the quality of
performance expected does not necessarily mean that the project was itself a failure. At this
stage what is being discussed is the effectiveness and efficiency of project execution and not
whether a project is a success or failure.

Project life cycle

The project management life cycle provides a structured plan for project managers to guide
their projects to successful completion.

It includes all the stages needed in a project – from the inception of an idea to the final
implementation.

The 5 project Life cycle phases

 1. Initiation is where you define the goals, scope, budget, and timeline.
2. Planning follows, focusing on creating a detailed action plan.
3. Execution then carries out the plans to deliver the product.
4. Once the project begins, you must monitor the project and control for any deviations
from the plan.
5. Finally, closure involves wrapping up tasks, obtaining project acceptance, and
archiving records.

Even though the names and exact number of phases may differ, most project life cycles follow
a similar pattern of planning, execution, and closure. The key is to have a structured
approach that helps manage resources, timelines, and deliverables as the project moves
from one stage to the next.

1. Initiation phase

The initiation phase marks the beginning of a project, with the project manager defining the
scope and objectives. During this phase, it’s vital to align stakeholders on common goals
and lay the foundation for a successful project.

Next, the project manager creates a project charter, outlining the purpose, goals, and
scope of the project. This charter includes the following key information:

 Project purpose and justification

 Main objectives and deliverables
 Key stakeholders and team members
 Initial schedule and budget estimates

The project manager also conducts a feasibility assessment to determine if the project is
realistic and worthwhile.
 2. Planning phase

During the planning phase, the project manager develops a detailed project
plan and roadmap. This involves determining key scheduling details, resource allocation,
and risks that could impact the project. The goal is to create a comprehensive map of how the
team will execute the work.

Jira Product Discovery (JPD) helps gather and organize product ideas, features, and
solutions, creating custom, up-to-date roadmaps that show which features the team will
build, when, and why.
JPD helps project managers identify and prioritize ideas or features that will have the
most substantial impact on the project's success.

3. Execution phase

During the execution phase, the team puts the project plan into action. The project manager
plays a key role in coordinating resources, including people, tools, and materials, while
also ensuring the team is well-informed about their individual tasks and timelines.

Jira software is a collaboration tool that helps teams track work activities and offers
simplified project tracking and enables seamless project management across both
software and business teams, all while accommodating each team's unique working style.

Jira provides end-to-end management of this critical stage. The platform handles the day-
to-day demands of executing complex projects, freeing up teams to focus on delivering
work rather than struggling with spreadsheets and disjointed tools.

With Jira, project managers can assign tasks, set deadlines, and automate reminders so
nothing slips through the cracks. With all their work in one place, they can understand how
each task impacts the timeline and budget. This allows for immediate adjustments to keep the
project moving forward.

4. Monitoring and controlling phase

The monitoring and controlling phase involves regularly checking project progress and
team performance to ensure everything adheres to the project plan.

During this phase, the project manager identifies any deviations from the plan and
budget, determining the cause to take corrective action. Tools such as status reports, time
tracking, budget reports, risk management plans, and stakeholder reviews make it easy
to see the most important metrics and milestones. To make changes to the plan, team
members should submit a change request for approval.

5. Closing phase

The closing phase marks the formal end of a project. During this phase, the focus is on
getting final approvals and sign-offs, conducting a post-project review, identifying what
went well, determining areas for improvement, and documenting lessons learned. These
 activities foster a culture of continuous learning and promote accountability and
transparency.

Agile approaches to the project life cycle

In traditional project management, teams typically establish a fixed plan that does not
change.

Agile project management, allows for changes to the project plan. In the Agile
methodology, teams engage in short, frequent check-ins and make adjustments. This
approach focuses on iterative development, customer collaboration, and adaptability.

Scrum is a widely adopted Agile methodology in which Scrum teams work in time-boxed
iterations, with daily stand-up meetings to discuss progress, challenges, and plans.

Benefits of effective project life cycle management

 Improved project visibility: Teams can proactively remove obstacles to ensure timely,
high-quality results. This enables more effective decision-making.
 Better risk management: Teams can spot risks early and find solutions. Regular risk checks
ensure projects stay on time and avoid costly delays or failure.
 Enhanced stakeholder communication: With regular updates, progress reports, and
meetings, participants stay more informed and involved throughout the project life cycle.

 Jira breaks large projects into manageable tasks, tracks progress, and encourages teamwork
across all teams and the organization.
 Jira Product Discovery works with Jira, providing context for and visibility into software
development projects, business tasks, and more.

Ensure a successful project life cycle with Jira Product Discovery

Project managers can use Jira tools to organize and prioritize ideas, making it easy to create
and share custom roadmaps with the team.

Jira, a popular project management tool, offers several features and project planning
templates to streamline processes and provide context and visibility for projects.

JPD helps with planning, tracking, and managing project phases. With JPD, product
teams can neatly gather and organize product ideas, opportunities, features, and
solutions within a centralized tool.

Top 10 Project Success Factors

 Efficient Planning
 Methodical Approach
  Experienced Project Managers
 Use a Professional Software
 Control and Monitoring
 Adhere to the Best Practices
 Careful Management of Risks
 Working with Committed People
 Efficient Communication
 Strong Closure of Project

1. Efficient Planning: Generally, several project managers rush toward the project execution
stage and do not take adequate time for quality planning. One must not be in a hurry and jump
towards committing this mistake. One must understand that investing adequate time and
resources in scheduling a project yields satisfactory results.

A well-defined and clearly planned set of project goals and objectives is crucial for
success. The planning should be SMART- Specific, Measurable, Achievable, Relevant, and
Time- bound providing a clear direction for the project team and stakeholders.

Methodical Approach

The choice of a proper methodology for project management is vital for the success of the
project. To assure that the method is reliable, efficient, and clear, then one must follow the
techniques and trends of the framework that they have chosen. One must know that all
stakeholders should understand and acknowledge lending time to determine a clear project
objective.

A methodical approach begins with thorough project planning, where project managers
define objectives, establish timelines, allocate resources, and identify dependencies. It
emphasizes the importance of creating a well-structured project plan that outlines the
specific tasks, milestones, and deliverables required to achieve project goals.

Experienced Project Managers

One can learn the theory and techniques of project management, but in the end, experience is
one of the fundamental factors of success. An experienced project manager can more likely
handle and overcome daily project challenges. Roles and responsibilities must be kept clear
to avoid misunderstandings.

A successful project manager is known not only by his/her technical knowledge but also by
his/her leadership qualities. One must assure that the team members have the required
skills to deliver the results challenged and produce a positive attitude toward the project.
Also, the team members must operate as a whole. And hence it is very important to build a
team that is motivated to act toward a collective goal together.

Use a Professional Software

The quality of an individual’s management is affected directly by the quality of their chosen
tools. Project management software is generally underrated. The risk of errors and
miscalculations is minimized by professional and intuitive software, this software
provides the best possible overview of all appropriate KPIs and presumably displays
meaningful data on all significant devices.

The software encourages easy and safe team collaboration and is the source for granting access
to the information required by all the team members. One must consider investing in a
specific and professional tool rather than working with Excel or other spreadsheet
programs not built for project management needs. It will affect the success of the project
positively and will also simplify the job.

Control and Monitoring

One must check their advancement and routinely assess the results. To instantly know if
the project is on track, one must define KPIs i.e. key performance indicators, and use
reports. This will help an individual to recognize early on when things go sideways and
can take countermeasures before more sweeping harm is done.

Regular monitoring and evaluation are critical success factors in project management for
identifying deviations, tracking milestones, and ensuring quality control. Monitoring
allows project managers to make timely adjustments, while evaluation provides insights for
future improvements and learning from project experiences.

Adhere to the Best Practices

One must follow proper and well-planned strategies learned from past experiences. Everyone
knows that project management itself is a challenge. One must try to incorporate and use
best practices wherever possible. Rather than creating everything from the ground up, one
must draw from the experience of past successes and accustom proven tactics to their specific
case. This in turn will help the individual to concentrate on their resources, on their project’s
unique elements that will earn all the difference.

Following established best practices in project management can greatly contribute to project
success. Adhering to these practices helps streamline processes, improve efficiency, and
increase the likelihood of achieving desired project outcomes.

Careful Management of Risks

An experienced project manager knows that things that are planned, rarely go off the field. And
hence, it is necessary to design a risk log with an execution plan for the project’s risks during
the planning process. One must assure that the risk log is known by all essential stakeholders
and also know where they can find it. This in turn helps when something wrong happens with
the management’s plan that has already been set up.
During such a situation, the team already has all the vital information about what and how to
do it and can quickly resolve the problem. This will provide the required confidence to the team
in case of project risks, and help the customers feel satisfied with the project’s advancement.

Working with Committed People

Without the support of the right team, any strategy or plan can entirely fall apart. So, therefore,
specialist resources, the core project staff, all stakeholders, and manufacturers should be part
of the team dynamically. All the involved team members must be committed to the group,
strive to achieve overall success, and share similar project visions.

Also, it is necessary to understand that it is very important to allocate the right individuals to
each aspect of the project and make sure everyone works together in a synchronized manner.
Moreover, to get the desired and the most successful result, the whole team should be well-
read and involved, which implies that communication has to be on par.

Efficient Communication

Several unwanted developments in projects could be blocked or at least discovered earlier with
proper communication. One must assure that formal communication methods (documentation,
meetings, etc.), as well as informal methods, are used and implemented properly.
Communication between the members of the team plays a very crucial role. One must grant
opportunities to their employees and help them come together outside the official meetings.

Active engagement and effective communication with the team is vital for project success. This
includes regular updates, addressing concerns, and seeking feedback to ensure alignment of
expectations and maintain stakeholder satisfaction throughout the project lifecycle.

Strong Closure of Project

The strong closure of a project plays a very vital role. If there is no strong closure for a project,
it can continue to utilize resources. The project team working on the project must be determined
and agree with the client that it has reached all significant success factors.

One must understand that it is very necessary to agree and signoff on consent of the project
testing, delivery, and release. Satisfaction surveys are a great form of documentation for later
reference to be logged and filed for future use.

Project Success Criteria Examples

Project success criteria are essential components used to evaluate and measure the
achievements of a project. They provide a clear set of objectives and standards that guide the
project team in determining whether the project has been successful or not. So, here are some
examples of project success criteria that can be tailored to different types of projects…
On-time Delivery

The project will be considered successful if all deliverables are completed and delivered to the
stakeholders within the agreed-upon timeline.

Budget Adherence

The project will be deemed successful if it is completed within the allocated budget without
exceeding the approved financial resources.

Stakeholder Satisfaction

The project will be considered successful if it meets or exceeds the expectations and
requirements of the stakeholders, including clients, end-users, and sponsors.

Quality Standards

The project will be regarded as successful if the final deliverables meet the predetermined
quality standards and fulfill the specified functional and non-functional requirements.

Project Success Criteria Examples

Scope Achievement

The project will be considered successful if it successfully achieves all the defined project goals
and objectives as outlined in the project scope.

Risk Management

The project will be deemed successful if potential risks and issues are effectively identified,
managed, and mitigated throughout the project lifecycle.

Resource Utilization

The project will be regarded as successful if the project team optimally utilizes the available
resources, such as human resources, equipment, and materials, to achieve project goals.

Stakeholder Engagement

The project will be considered successful if there is active and continuous engagement and
collaboration between the project team and stakeholders throughout the project duration.
Adaptability to Change

The project will be deemed successful if it demonstrates flexibility and adaptability to changes
in requirements, technology, or market conditions without compromising the project’s overall
objectives.

Lessons Learned and Knowledge Transfer

The project will be regarded as successful if the project team captures valuable lessons learned
throughout the project and effectively transfers this knowledge to future projects.

Therefore, it’s important to note that success criteria may vary depending on the nature of the
project, industry, and organizational objectives. The examples mentioned above are meant to
serve as a starting point and should be tailored and customized to align with the specific
project’s goals and stakeholder expectations.