1. Fundamentals of Project Management
Chapter-1
From PMBOK 4th PMI

2. What is a Project? ?

3. What is a Project?
A project is a sequence of unique, complex and connected activities having one goal or purpose that must be completed by a specific time, wthin budget and according to specification
A project is a complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs
Projects are ad hoc, resource-consuming activities used to implement organizational strategies, achieve enterprise goals and objectives, and contribute to the realization of the enterprise‘s mission

4. A project is a temporary endeavor undertaken to create a unique product, service or result.

5. A Project can Create
A product that can be either a component of another item or an end item in itself.
A capability to perform a service(e.g., a business function that supports production or distribution).
A result such as an outcome or a document (e.g., a research project that develops knowledge that can be used to determine whether a trend is present or a new process will benefit society).

6. Main features of a Project - Revision
It is a temporary endeavor undertaken. 
To create a unique product, service or result
Temporary, therefore, has a start and an end
End is reached when
Objectives have been achieved
When objectives will not or cannot be met
Need for the project does no longer exist
What can be the duration of a project?
What about the outcome of a project?

7. Examples of Projects Developing a new product or service (Why)
Effecting a change in the structure, staffing or style of an organization
Developing or acquiring a new modified information system
Constructing a building or infrastructure
Implementing a new business process or procedure
Give examples of Projects in Pakistan / World

8. What is Project Management?
It is the application of:
Knowledge
Skills
Tools
Techniques
To do project activities to meet project requirements
It is accomplished through appropriate application and integration of 42 logically grouped project management processes comprising the 5 process groups.
What are those FIVE Process Groups?
What are those 9 Knowledge Areas in Projects?

9. Mapping the Processes Initiating P.G. Planning Executing Controlling
Closing
4. Project Integration Management
4.1 Develop Project Charter
4.2 Develop Project Management Plan
4.3 Direct & Manage Project Execution
4.4 Monitor & Control Project Work
4.5 Perform Integrated Change Control
4.6 Close Project or Phase
5. Project Scope Management
5.1 Collect Requirements 5.2 Define Scope
5.3 Create WBS
5.4 Verify Scope 5.5 Control Scope
6. Project Time Management
6.1 Define Activities 6.2 Sequence Activities 6.3 Estimate Activity Resources
6.4 Estimate Activity Duration 6.5 Develop Schedule
6.6 Control Schedule
7. Project Cost Management
7.1 Estimate Costs
7.2 Determine Budgets
7.3 Control Costs
Process
Group PM
Knowledge Area
Page 38 (next two slides) is the most important page in the PMBOK.
Discuss the difference between Process Groups and PM Knowledge Areas, and how they share sub processes.

10. Mapping the Processes (cont.)
Initiating
P.G.
Planning
Executing
Controlling
Closing
8. Project Quality Management
8.1 Plan Quality
8.2 Perform Quality Assurance
8.3 Perform Quality Control
9. Project Human Resource Management
9.1 Develop Human Resource Plan
9.2 Acquire Project Team 9.3 Develop Project Team
9.4 Manage Project Team
10. Project
Communications
Management
10.1 Identify
Stakeholder
10.2 Communications Planning
10.3 Information Distribution
10.4 Mange Stakeholders
10.5 Report Performance
11. Project Risk
11.1 Plan Risk Management 11.2 Identify Risk 11.3 Perform Qualitative Risk Analysis 11.4 Perform Quantitative Risk Analysis 11.5 Plan Risk Responses
11.6 Monitor & Control Risk
Process
Group PM
Knowledge Area

11. Mapping the Processes (cont.)
Initiating
P.G.
Planning
Executing
Controlling
Closing
12. Procurement
12.1 Plan Procurement
12.2 Conduct Procurement
12.3 Administer
Procurement
12.6 Close Procurement
Process
Group PM
Knowledge Area

12. Why Projects?
To meet strategic business goals and objectives: Strategic opportunity Business needs Customer request Technological advance Legal requirements

13. What is Project Management?
1.Project aligned with organizational objectives and customer needs
2.Preliminary scope statement includes stakeholder needs and expectations
3.High-level risks, assumptions are understood
4.Stakeholders identified and their needs understood
5.Project charter approved
1 .Project scope agreed
2.Project schedule approved
3.Cost budget approved
4.Project team identified with roles and responsibilities agreed
5.Communications activities agreed
6.Quality management process established
7.Risk response plan approved
8.Integrated change control processes defined
9.Procurement plan approved
10.Project plan approved
1.Project scope achieved
2.Project stakeholders expectations managed
3.Human resources managed
4.Quality managed against plan
5.Material resources managed
1.Project tracked and status communicated to stakeholders
2.Project change is managed
3.Quality is monitored and controlled
4.Risk is monitored and controlled
5.Project team is managed
6.Contracts administered
1.Project outcomes accepted
2.Project resources released
3.Stakeholder perceptions measured and analyzed
4.Project formally closed
Project Initiation
Project Planning
Project Execution
Project Monitoring & Change Mgt.
Project Closing

14. Relationship Between Project Management Portfolio Management
Program Management

15. What is Portfolio Management?
resource allocation to achieve corporate new product objectives.

16. Portfolio Management
Portfolio (finance), a collection of investments held by an institution or a private individual
Career portfolio, an organized presentation of an individual's education, work samples, and skills
Artist's portfolio, a sample of an artist's work or a case used to display artwork, photographs etc
Product portfolio (business administration), 2D separation of products by their market share and profits or growth rates (BCG)
IT Portfolio, in IT portfolio management, the portfolio of large classes of items of enterprise Information Technology (IT)
Project Portfolio, in Project Portfolio Management, the portfolio of projects in an organization. It is a collection of projects or programs and other works that are grouped together to facilitate effective management

17. Examples of Portfolio Management
An infrastructure firm that has the strategic objective of maximizing the return on its investments may have a portfolio of:
Projects in oil & gas
Projects in power
Projects in water
Projects in roads
Projects in rail
Projects in airports

18. Program Management
Program Management is defined as a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside the scope of the discrete projects in the program A program will always have projects.

19. Program Management
It focuses on the project interdependencies and help to determine the optimal approach for managing them.
Resolve resource constraints & conflicts
Aligning organizational direction
Resolve issues and change management within a shared governance structure

20. Example of a Program Management
A new communication satellite system:
Designing of a satellite and ground system
Construction of a satellite and ground station
Integration of the system
Launching of the satellite

21. Project Management Office (PMO)
It is an organized body or entity assigned coordinated management of projects under its domain It is the key decision maker during the beginning of each project It is also responsible for the selection, management and deployment of shared or dedicated project resources

22. Functions of (PMO) Managing shared resources
Identifying & developing project management methodology, best practices and standards
Coaching, monitoring, training and oversight
Monitoring compliance project audits
Developing & managing project policies, procedures, templates and other standard documentation?
Coordinating communication across projects

23. Project Manager Focuses on a specific project objective
Controls resources to best meet project objectives
Manages the constraints (scope, schedule, cost and quality etc) of individual project

24. Main Functions of a Project Manager
Define scope of project
Identify stakeholders & Leadership (decision makers: Client, Parent organization, Project Team, Publics)
Evaluate project requirements
Develop detailed task list (work breakdown, structures)
Develop initial project management flow chart
Estimate time requirements
Identify cost estimation and budget
Identify required resources and evaluate risks

25. Main Functions of a Project Manager
Prepare contingency plan
Identify interdependencies
Identify and track critical milestones
Secure needed resources, manpower
Participate in project phase review
Manage the change control process
Report project status

26. Project Management Vs Operation Management
How they are different?
When do they interact?

27. Project Management Vs Operation Management
Operations are permanent endeavors that produce repetitive outputs with resources assigned to do same set of tasks
It is an ongoing nature of operations
Projects are unique
Projects are temporary endeavors

28. Characteristics of a Project Manager
Knowledge: Must be well versed with project management. ?
Performance: Application of project management knowledge
Personal: Behavior of the project manager:
Effectiveness
Attitude
Personality characteristics (Michael Dell)
Leadership, guidance to balance project constraints

29. Enterprise Environmental Factors
Organizational culture, structure & processes
Government or industry standards
Infrastructure: Existing facilities and capital equipment
Existing human resource
Marketplace conditions
Stakeholder risk tolerance
Potential climate
Political climate
Established communication channels
Commercial databases: cost, risk study / info
Project management information systems (blog)