PROJECTS AND THEIR MANAGEMENT A PROJECT IS SOMETHING WHICH HAS A BEGINNING AND AN END. A PROJECT IS A HUMAN ENDEAVOUR WHICH CREATE CHANGE; IS LIMITED IN TIME AND SCOPE; HAS GOALS AND OBJECTIVES; INVOLVES A VARIETY OF RESOURCES; AND IS UNIQUE. A PROJECT IS A COMPLEX EFFORT TO ACHIEVE A SPECIFIC OBJECTIVE WITHIN A SCHUDULE AND BUDGET TARGET. A PROJECT IS A ONE-TIME UNIQUE ENDEAVOUR BY PEOPLE TO DO SOMETHING THAT HAS NOT BEEN DONE THAT WAY BEFORE.

PROJECTS Vs OPERATIONS PROJECTS - OPERATIONS UNIQUE REPETITIVE FINITE ETERNAL TRANSIENT STABLE UNCERTAIN CERTAIN FLEXIBILITY STABILITY RISKS STATUS-QUO

PROJECT AND PROJECT MANAGEMENT A PROJECT IS AN ENDEAVOUR IN WHICH HUMAN, MATERIAL AND FINANCIAL RESOURCES ARE ORGANIZED IN A NOVAL WAY, TO UNDERTAKE A UNIQUE SCOPE OF WORK OF GIVEN SPECIFICATION, WITHIN CONSTRAINTS OF COST AND TIME, SO AS TO ACHIEVE BENEFICIAL CHANGE DEFINED BY QUANTITATIVE AND QUALITATIVE OBJECTIVES. PROJECT MANAGEMENT DEFINED AS A PROCESS BY WHICH A PROJECT IS COMPLETED SUCCESSFULLY. THREE DIMENSIONS TO THIS PROCESS: PROJECT OBJECTIVES MANAGEMENT PROCESSES TO ACHIEVE THE OBJECTIVES LEVELS AT WHICH THE PROCESSES ARE APPLIED.

THE PROJECT OBJECTIVES MANAGING SCOPE MANAGING ORGANIZATION MANAGING QUALITY MANAGING COST MANAGING TIME MANAGING RISK

THE MANAGEMENT PROCESSES TWO VIEWS ON MANAGEMENT PROCESSES. THE PROBLEM-SOLVING APPROACH ADDRESSES THE UNCERTAINTY, VIEWING THE PROJECT’S PURPOSE AS A PROBLEM, AND APPLIES STANDARD MANAGEMENT PROCESSES FOR PROBLEM SOLVING: PLAN, ORGANIZE, IMPLEMENT AND CONTROL. THE PROJECT MANAGEMENT LIFE CYCLE APPROACH ADDRESSES THE TRANSIENCE OF PROJECTS DIRECTLY. HAVING A BEGINNING AND AN END, PROJECTS GO THROUGH SEVERAL STAGES OF DEVELOPMENT SUCH AS: GERMINATION, GROWTH, MATURITY AND DEATH.

THE FUNDAMENTAL LEVELS A PROJECT HAS THREE FUNDAMENTAL LEVELS AT WHICH EACH OBJECTIVE IS MANAGED. LEVEL 1: THE INTEGRATIVE LEVEL LEVEL 2: THE STRATEGIC LEVEL LEVEL3: THE TACTICAL LEVEL. FOR ORGANIZATION, LEVEL 1 OF MAMAGEMENT INTEGRATES THE PROJECT INTO ITS CONTEXT, LEVEL 2 TRANSLATES CORPORATE OBJECTIVES INTO PROJECT STRATEGIES, AND LEVEL 3 IMPLEMENTS THE STRATEGIES.

SUMMARY 1. A PROJECT: - IS A UNIQUE SCOPE OF WORK - IS UNDERTAKEN USING A NOVEL ORGANIZATION - ACHIEVES BENEFICIAL CHANGE. 2. A PROJECT THEREFORE: - CARRIES CONSIDERABLE UNCERTAINTY AND RISK - REQUIRES THE INTEGRATION OF THE NOVEL ORGANIZATION - IS SUBJECT TO CONSTRAINTS OF TIME, COST AND QUALITY 3. PROJECT MANAGEMNT IS THE PROCESS BY WHICH A PROJECT IS BROUGHT TO A SUCCESSFUL CONCLUSION. 4. PROJECT MANAGEMNT HAS THREE DIMENSIONS: - THE OBJECTIVES: SCOPE, ORGANIZATION, QUALITY, COST, TIME - THE MANAGEMENT PROCESSES: PLAN, ORGANIZE, IMPLEMENT, CONTROL - THE LEVELS: INTEGRATIVE, STRATEGIC, TACTICAL.