1. Project Management Unit 1 Fundamental Concepts

2. Definition of A Project A temporary endeavor undertaken to create a unique product or service (PMBOK®). A planned effort leading to the delivery of a unique product or service, meeting or exceeding the customer expectations, within the agreed upon cost and timeframe.

3. Key Features Temporary (a beginning and end) Unique product or service Progressive Elaboration (developing in steps..example :project scope. Planned, executed, and controlled Aimed at meeting or exceeding customer expectations Limited resources (Time, Cost, and …) available

4. Discuss Give an example of project where you were involved. Does it satisfy the definition components of a Project ?

5. Why Project Management For SUCCESSFUL projects. A successful project is one that: Contains all the features agreed upon Is within the accepted time frame Is within budget Meets customer expectation Leaves behind a motivated productive team No “surprises” throughout Is reasonably resilient to “unknown” factors Integrates required outside component(s) to make it “complete” Follows a pre-defined process to “bind” all factors together leading to synergy.

6. Knowledge Areas Scope TimeCost Quality Human Resources Communication Risk Procurement

7. Known Causes of Project Failure Some Major Known Causes Changing requirements Incomplete requirements Inadequate planning Unrealistic customer expectations Lack of customer involvement Inadequate resources Uncontrolled quality problems Adoption of new technology Inaccurate estimates Ineffective project control (risk, issue, change management)

8. Project Success Project Success involves Effective Planning Execution as per plan Controlling during execution Other two complementary phase groups Initiating Closing

9. Project Constraints Time Scope Cost

10. Exercise Distinguish among PROJECT OPERATION PROGRAM : Groups of projects

11. Project Management Process Groups Initiating Planning Executing Monitoring & Controlling Closing (Information flow within these process groups: Refer PMBOK® Figure 3-4)

12. Project Lifecycle A project may go through a set of phases through its lifecycle. Phases dependent on the type of project Example : Feasibility, Planning and Design, Construction, Turnover and Startup phases in Construction Industry Each phase may have one or more of the processes associated.

13. Taken from PMBOK

14. Project Stakeholders All individuals who are involved in various project phases who may influence the course of action anytime during the project Example:

15. Process Groups Initiation: Acknowledges that a project or a phase can start. Commitment to putting resources in action for the project Planning: Very important, since all subsequent processes depend on the planning processes. Encompasses all knowledge areas.

16. Executing Translates plans into actions Costs are highest during the execution phase Monitoring & Controlling Monitoring the performance parameters throughout to make sure the project is close to what was planned Corrective actions for variances Closing Formal acceptance Lessons learnt for future reference

17. Types of Organization Structures Functional Projectized Matrix

18. Functional Organizations A number of departments Hierarchical structure within a department Projects spanning across multiple function areas are divided, and then worked upon Little authority for Project Manager.

19. Taken from PMBOK

20. Projectized Organizations Everything revolves around a project. Project Manager has the highest authority in these organizations. Each project has its own team members and staff assigned to it.

21. Taken from PMBOK

22. Matrix Organizations Features of both Functional and Projectized organizations. Project Manager at same level as the Functional Manager. Employees report to Functional Manager AND Project Manager. Refer Figures 2-9, 2-10, 2-11.

23. Influence of Org Structure Taken from PMBOK