(Edited) Introduction To Project Management For Business

INTRODUCTION TO PROJECT
MANAGEMENT FOR BUSINESS

CHAPTER – I
Chapter Aims
 At the end of the session Student will be:
 TO UNDERSTAND WHAT IS A PROJECT?
 TO REALIZE WHY ARE PROJECTS IMPORTANT?
 TO DEMONSTRATE PROJECT LIFE CYCLES
 TO IDENTIFY DETERMINANTS OF PROJECT SUCCESS
 TO DEVELOP PROJECT MANAGEMENT MATURITY
 TO IDENTIFY PROJECT ELEMENTS AND TEXT
ORGANIZATION
4/8/2019
WHAT IS A PROJECT?
 According to the Project Management Body of
Knowledge (PMBOK):
 “application of knowledge, skills, tools, and
techniques to project activities to meet the project
requirements.
 In simple term, “Project Management is a set or
group of activities performed efficiently within a
specific time frame for an objective with prescribed
cost”.
4/8/2019
WHAT IS A PROJECT?
 According to the Project Management Body of
Knowledge (PMBOK):
 Project management is accomplished through the
application and integration of the 42 logically grouped
project management processes comprising the 5 Process
Groups:
 Initiating
 Planning
 Executing
 Monitoring
 Controlling, and Closing”
4/8/2019
GENERAL PROJECT CHARACTERISTICS
 Projects are ad hoc endeavors with a clear life

cycle.
 Projects are building blocks in the design and
execution of organizational strategies.
 Projects are responsible for the newest and most
improved products, services, and organizational
processes.
 Projects provide a philosophy and strategy for the
management of change.
4/8/2019
GENERAL PROJECT CHARACTERISTICS
 Project management entails crossing functional and

organizational boundaries.
 The traditional management functions of planning,
organizing, motivation, directing, and control apply
to project management.
 The principal outcomes of a project are the
satisfaction of customer requirements within the
constraints of technical, cost, and schedule
objectives.
 Projects are terminated upon successful completion
of performance objectives
4/8/2019
PROCESS Vs PROJECT MANAGEMENT
PROCESS PROJECT
 Repeat process or product  New process or product

 Several objectives  One objective
 On-going  One shot - limited life
 People are homogenous  More heterogeneous
 Well established systems in  Systems must be created to
place to integrate efforts integrate efforts
 Greater certainty of  Greater uncertainty of
performance, cost, schedule performance, cost, schedule
 Part of line organization  Outside of line organization
 Bastions of established  Violates established practice
practice  Upsets status quo
 Supports status quo
4/8/2019
WHY ARE PROJECTS IMPORTANT?
 Shortened product life cycles.
 Narrow product launch windows
 Increasingly complex and technical products
 Emergence of global markets
 An economic period marked by low inflation
4/8/2019
The Steps in Managing a Project
4/8/2019
The Steps in Managing a Project
4/8/2019
Define the Problem
 Problem need to be identify and to be solved by
the project. It helps to visualize the desired end
result.
 What will be different?
 What will you see, hear, taste, touch, or smell? (Use

sensory evidence if things can’t be quantified.)
 What client need is being satisfied by the project?
4/8/2019
Develop Solution Options
 How many different ways might you go about
solving the problem?
 Brainstorm solution alternatives (you can do this
alone or as a group).
 Of the available alternatives, which do you think
will best solve the problem?
 Is it more or less costly than other suitable choices?
 Will it result in a complete or only a partial fix?
4/8/2019
Plan the Project
 Planning is answering questions:
 what must be done, by whom, for how much, how, when,
and so on.
 Naturally, answering these questions often requires a
crystal ball.
4/8/2019
Execute the Plan
 Once the plan is drafted, it must be implemented.
Interestingly.
 We sometimes find people going to great effort to
put together a plan,
 Then failing to follow it.
 If a plan is not followed, there is not much point in
planning,
4/8/2019
Monitor and Control Progress
 Plans are developed so that you can achieve your
end result successfully.
 Unless progress is monitored, you cannot be sure
you will succeed.
 It would be like having a roadmap to a destination
but not monitoring the highway signs along the way.
 If a deviation from the plan is discovered, you must
ask what must be done to get back on track, or—if
that seems impossible—how the plan should be
modified to reflect new realities.
4/8/2019
Close the Project
 Once the destination has been reached, the project is
finished, but there is a final step that should be taken.
 Some people call it an audit, others a post-mortem.
 Whatever you call it, the point is to learn something from
 What you just did.
 What was done well?
 What should be improved?
 What else did we learn?
 We can always improve on what we have done.
 However, asking “What did we do wrong?” is likely to make
people a bit defensive, so the focus should be on
improvement, not on placing blame.
4/8/2019
4/8/2019
4/8/2019
PROJECT SUCCESS - THE QUADRUPLE
CONSTRAINT
4/8/2019
PMBoK KNOWLEDGE AREAS
4/8/2019
 Project integration management ensures that the project is
properly planned, executed, and controlled, including
the exercise of formal project change control.
 Project Scope Management includes authorizing the job,
developing a scope statement that will define the
boundaries of the project, subdividing the work into
manageable components with deliverables, verifying
that the amount of work planned has been achieved,
and specifying scope change control procedures.
4/8/2019
 Project time management specifically refers to
developing a schedule that can be met, then
controlling work to ensure that this happens! It’s that
simple.
 Project cost management involves estimating the cost
of resources, including people, equipment, materials,
and such things as travel and other support details.
After this is done, costs are budgeted and tracked
to keep the project within that budget.
4/8/2019
 Project quality management includes both quality
assurance (planning to meet quality requirements)
and quality control (steps taken to monitor results to
see if they conform to requirements).
 Project human resources management, often
overlooked in projects, involves identifying the
people needed to do the job; defining their roles,
responsibilities, and reporting relationships;
acquiring those people; and then managing them as
the project is executed.
4/8/2019
 Project Communications Management involves planning,
executing, and controlling the acquisition and
dissemination of all information relevant to the needs of
all project stakeholders.
 Project risk management is the systematic process of
identifying, quantifying, analyzing, and responding to
project risk.
 Project procurement management involves deciding what
must be procured, issuing requests for bids or
quotations, selecting vendors, administering contracts,
and closing them when the job is finished.
4/8/2019

(Edited) Introduction To Project Management For Business

Uploaded by

Copyright:

Available Formats

(Edited) Introduction To Project Management For Business

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

(Edited) Introduction To Project Management For Business

Uploaded by

Copyright:

Available Formats

INTRODUCTION TO PROJECT

MANAGEMENT FOR BUSINESS

 Projects are ad hoc endeavors with a clear life

 Project management entails crossing functional and

 Repeat process or product  New process or product

 Shortened product life cycles.

 Narrow product launch windows

 Increasingly complex and technical products

 Emergence of global markets

 An economic period marked by low inflation

 What will you see, hear, taste, touch, or smell? (Use

 What client need is being satisfied by the project?

You might also like