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FUNDAMENTALS OF

PROJECT MANAGEMENT

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Basic Terminologies

Has a unique purpose

Is temporary

Requires application of Resources

Has a primary customer, sponsorand stakeholders

Is developed using progressive elaboration, Iteration

InvolvesUncertainty

Project

Application of

Knowledge

Skills

Tools & Techniques

To achieve Project Objectives

Project Management

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Why Project are Done ?

Strategic Objectives

Projects are means of organizing activities in order to

achieve objectives that cannotbe achieved withinthe organizations due to normal operational limits

Strategic Considerations

A Market Demand & Organizational Need

A Customer Request

A Technological Advancement

A Legal Requirement

Ecological Impacts

Social need

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Project vs Operations

Projects

To attain Objectives and Terminate

Create own Character, Organization,

and Goals

Catalyst for Change

Unique Product, Service or Result

Start and End Date

Operations

To Sustain Business

Semi Permanent Charter,

Organization, and Goals

Maintain Status Quo

Standard Product or Services

Homogenous Teams

Ongoing

Examples

Producing a News letter

Writing or publishing a Book

Implementation of a LAN

Hiring a Salesman

Arranging for a conference

Opening for a new Shop

Producing annual report

Examples

Responding to Customer requests

Hooking up a printer to a computer

Meeting with an employee

Attending a conference

Opening a Shop

Writing an Progress update memo

Business

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Project, Product & Project Management Lifecycle

Identify

Need

Establish

Feasibility

Develop

Business

Case

Develop

Proposal

Product

Service

Result

OperationsImprovement

/Salvage

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Project Management Constraints

Balancing Competing constraints, which include, but are not limited

to:

Project

Success

Scope

Cost

Time

Quality

Resources

Risk

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Knowledge Areas

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Tools and Techniques

Flat Tyre

Inputs

Jack

AdjustableWrench

Tools andTechniques

Stepney

Output

Project management tools and techniques

assist project managers and their teams in

various aspects of project management.

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Tools and Techniques

Specific tools and techniques include, but not limited to:

Project charters, scope statements, and WBS (scope) Gantt charts, network diagrams, critical path analyses (time)

Net present value, cost estimates, and earned value management (cost)

Super tools are those tools that have high use and high potential for

improving project success, such as: Software for task scheduling (such as project management software)

Scope statements

Requirements analyses

Lessons-learned reports

Tools already extensively used that have been found to improve

project importance include:

Progress reports

Kick-off meetings

Gantt charts Change requests

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Project, Program, Portfolio

What is a Program?

A program is:a group of related projectsmanaged in a coordinatedway

to obtain benefitsand controlnot available from managing

them individually

A program manager provides leadership and direction

for the project managers heading the projects within the

program.

ADVANTAGES

Decreased risk

Economies of Scale

Improved Management

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Project, Program, Portfolio

What is a Portfolio?

A Portfolio is:a collectionof projects or programs and other work that

are grouped togetherto facilitate effective management of

that work to meet strategic business objectives

The projects or programs in the portfolio may not

necessarily be interdependent or directly related

ADVANTAGES

Wise Investment Decision

Strategize Projects

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Project, Program, Portfolio

Tactical

Goals

Strategic

Goals

Are we working onRight Projects?

Are we Investing in

Right Areas?

Do we have the

right resources to

be competitive?

Are we Carryingout Projects well?

Are Projects on

time and onbudget?

Do Project

Stakeholders knowwhat they should

be doing?

Pro

jectManagement

PortfolioMana

gement

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Project Management Office (PMO)

Provide the policies, methodologies, and templatesfor managing projects within the organization

Coordinator

Provide support and guidance to others in theorganization on how to manage projects, train othersin project management or project management

software, and assists with specific projectmanagement tools

Fa

cilitator

Provide project

managers fordifferent projects,and is responsiblefor the results ofthose projects

Controller