1. Introduction to Project Management www.AssignmentPoint.com Project management

2. At the end of the chapter you should  Recognize the characteristics of projects and the challenges of project management  Understand the basic concepts of project life cycle and project logical framework  List the criteria for assessing the project success, and understand their implications  Describe the competencies required for successful project managers, and the learning process needed to acquire these competencies Learning Outcome www.AssignmentPoint.com Project management

3. Examples of projects: Engineering projects: construction, software development Industrial projects: factory expansion, new business Infrastructure projects: toll way, sky train Organizational projects: ISO9000, privatization of SOE Development projects: drug eradication, admin reform Small and personal projects: BBA study, wedding party www.AssignmentPoint.com Project management

4. What is Project  A project is a complex effort, made up of interrelated tasks, to be completed within a pre-determined time frame and budget, with a pre-defined set of objectives.  Two defining features:  A unique output  A limited time frame  Like operations, project is performed by people with limited resources with certain planning  Projects may involve a single unit of one organization or may cross organizational boundaries www.AssignmentPoint.com Project management

5. Characteristics of a Project  Importance  Performance  Temporary  Interdependencies  Uniqueness  Resources  Dynamic  Conflict  High Pressure and risks www.AssignmentPoint.com Project management

6. Project Lifecycle  A collection of generally sequential project phases whose name and number are determined by the control needs of the organization or organization involved in the project  Project life cycle definition determines the boundaries of the project  It also determines about the transitional actions www.AssignmentPoint.com Project management

7. Project lifecycle

8. www.AssignmentPoint.com Project management

11. Cost and Staffing Level during Project lifecycle www.AssignmentPoint.com Project management

12. Risk During Project Life Cycle www.AssignmentPoint.com Project management

13. Project Success Criteria www.AssignmentPoint.com Project management

14.  Project success is assessed by:  Objective measures or performance: cost, time, meeting the stated objectives and targets, quality and specifications of the deliverables, etc.  Perceived satisfaction of the key stakeholders that include client, top management and the project team  It is important for project manager to:  Identify and document the project success criteria  Getting the key stakeholders agree on the criteria  Keeping a balanced mix of managerial attention to technical tasks and stakeholder management www.AssignmentPoint.com Project management

15. Project Management  Process of directing project resources and efforts toward orderly and successful completion  Body of knowledge, techniques and competencies that enables, or at least improves the chance of, the successful completion of projects. www.AssignmentPoint.com Project management

16. Define  Scope, objectives, constraints  Estimates and schedules, specifications and contracts Plan  Activities: output, schedule, resources, expected performance  People: who, organization, responsibility/authority assignment  Risk management and control mechanism Control  Progress measurement and Problem solving  Communication (motivation, coordination, support mobilization, etc.) www.AssignmentPoint.com Project management Project Management functions

17. Project Management Process www.AssignmentPoint.com Project management

18. Importance of Project Management  Compression of the product life cycle  Global competition  Knowledge explosion  Corporate downsizing  Increased customer focus  Rapid development of third world economy www.AssignmentPoint.com Project management

19. Distinctive Features of PM Comparing with general management  GM is committed to the continuation of the business whereas PM is committed to the completion of the business  GM involves more repetitive activities, with lessons learned re-applied  GM teams are more stable, while project teams frequently change www.AssignmentPoint.com Project management

20. Comparing with functional management  FM is focused, normally done within a functional and permanent department, while PM is cross-boundary, multi- disciplinary and has broader scope.  FM is planned, performed and reviewed on annual basis, while PM is performed over project life cycle.  FM usually tries to improve on productivity by increasing the output with given budget and resources, while PM is committed to achieve a given objective with minimal resources possible. www.AssignmentPoint.com Project management

21. General Management Knowledge and Practice Application Area Knowledge and Practice Generally Accepted PM Knowledge and Practice The Project Management Body of Knowledge www.AssignmentPoint.com Project management

22. Important Skills For The Project Manager www.AssignmentPoint.com Project management

23. Generic PM techniques Appraisal techniques  Financial appraisal  Risk analysis Planning techniques  Work breakdown structure  Cost and time estimates  Scheduling  Cost and time trade-off (CPM)  Other planning tools: Responsibility matrix, PERT Controlling techniques  Earned value method  Problem solving framework www.AssignmentPoint.com Project management