Project Management Basics What is PM? Why is PM important? Phases of PM Compiled by: Alex J. Ruiz-Torres, Ph.D. From information developed by many.

What is PM? What is a Project? a set of tasks/activities that in combination will result in an important output/product, requiring significant amounts of time. Definitions from the Project Management Institute (PMI): A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. https://www.pmi.org/about/learn-about-pmi/what-is-project-management

What is PM? Projects characteristics: Result in unique products Temporary as there is a start and end for a project Cross-functional as they require resources with a variety of expertise areas Deals with uncertainty including changes in requirements (the goal of the project may change some), time delays, and changes in the resources among others.

What is PM? What is Project Management? the planning, directing, and controlling of the resources (people, equipment, material) needed/used to meet the technical, cost, and time constraints of a project. From the PMI: Project management, then, is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

Why is PM important? Projects are an essential element of any business, required in efforts such as: Product development Process change and improvement New technology adoptions Expansion and globalization efforts Project management as a management discipline underpins much economic activity. In industries as diverse as pharmaceuticals, software and aerospace, projects drive business. And in the public sector, it is effective project management that translates politicians' promises of new roads, schools and hospitals into gleaming new constructions that improve everyday life. - Dr Malcolm Wheatley BSc (Econ), MA, MBA, PhD

Phases of PM Phase 1: Design and Planning Outcome: what is the product/goal this project will achieve? Implement a new computer system Increase product yield by 10% Open a restaurant in Miami Define Tasks: a description of the specific activities required to achieve this goal. Develop process flowchart Analyze data on returns Implement …

Phases of PM Phase 1: Design and Planning Develop the Work Breakdown Structure This is a multi-level description of the tasks. Based on their complexity, split into more detailed descriptions. Project Task 1 Task 2 Task 3 Subtask 1.1 Subtask 1.2 Subtask 3.1 Subtask 3.2 Subtask 3.3

Phases of PM Phase 1: Design and Planning Get project approved! For each task the following must be established: Task time : estimate of the task duration. Dependencies: how activities relate to each other. For example, columns must be built before roof. Some activities can occur in parallel. Resources: what resources are required to complete the task Cost: how much in terms of resources, materials,… Using the per task information generate overall estimates for the project time and cost Get project approved!

Phases of PM Phase 2: Monitor and Control The project manager (PMr) must continually monitor the performance of the project and its resources. Is the quality of the completed tasks as expected? Are the activities being completed on time? Are the tasks costs within their budget? Will the project be completed on time?

Phases of PM Phase 2: Monitor and Control The PMr must communicate these metrics to the project stakeholders Internal and external groups affected by the project for example project resources, upper management, customers, suppliers, …

Phases of PM Phase 2: Monitor and Control The PMr continuously controls the assignment of resources and re-scheduling of tasks Some tasks could be performed by a set of resources. The PMr must determine what resource will do what. When tasks are taking too long or delayed, the PMr determines if additional resources be added to speed up the activity. If costs are above the plan, find savings in other areas or obtain approval for overruns.

Phases of PM Phase 2: Monitor and Control This phase also includes communicating to stakeholders of the changes and of the status of the projects performance metrics. A delay in one part of the project will affect other parts, so they must be informed. Changes in the requirements must be documented and informed to the assigned resources. Cloud based software applications are used to manage projects and communicate across stakeholders.