PROJECT MANAGEMENT

The term "project" is a broad and widely used concept that can have different meanings
depending on the context. In general, a project is a planned and organized effort to achieve a
specific goal within a defined timeframe and with allocated resources. Projects are commonly
undertaken to create unique products, services, or outcomes that bring about change or
deliver a particular result.

CHARACTERISTICS OF A PROJECT

 Defined Objective: A project has a clear and specific objective or goal that needs to
be achieved. This goal could be anything from building a new software application to
organizing an event or constructing a bridge.
 Temporary: Projects have a definite start and end date, meaning they are temporary
endeavors with a fixed duration. Once the project's objective is accomplished, it is
considered complete.
 Unique: Projects are typically one-of-a-kind endeavors. Even if they have similarities
to previous projects, each project has its distinct characteristics and requirements.
 Resources: Projects require resources such as time, money, manpower, equipment,
and materials to be completed successfully. These resources are often allocated and
managed carefully to ensure project success.
 Planning and Execution: Projects involve careful planning, outlining the tasks,
setting deadlines, and determining the necessary resources. Once planned, the project
is executed, meaning the tasks are carried out to achieve the desired goal.
 Risk Management: Projects often encounter uncertainties and risks. Effective project
management includes identifying potential risks and implementing strategies to
mitigate them.
 Collaboration: Projects often require teamwork and collaboration among various
stakeholders, departments, or individuals to pool their skills and expertise to achieve
the project's objective.
 Monitoring and Control: Throughout the project's lifecycle, progress is monitored,
and adjustments are made as needed to keep the project on track and ensure it meets
its objectives.
  Defined Scope: Projects have a well-defined scope that outlines the boundaries of
what is included and excluded from the project's work. Scope defines the limits of the
project's activities.

PROJECT DEVELOPMENT CYCLE

 The project development cycle, also known as the project life cycle, refers to the
stages that a project goes through from its initiation to its completion.
 This cycle helps guide project managers and teams in planning, executing,
monitoring, and controlling projects.

It comprises of six stages

1. Project Identification and screening

2. Technical Design
3. Financing
4. Contracting
5. Implementation
6. Performance monitoring

Project identification involves recognizing and defining a specific need or opportunity for
improvement, usually related to development goals.

 The goal of project identification is to create a preliminary proposal for the best
possible set of interventions and course of action, within predetermined time and
financial parameters, to achieve a given development goal. This is the initial step
where potential projects are identified and defined in broad terms.
 Project screening, on the other hand, is the process of carefully investigating and
evaluating information found in an investment project.It assesses and analyzes these
identified projects to determine their feasibility, potential benefits, risks, and
alignment with strategic objectives.
 The screening process helps in selecting the most promising projects that warrant
further consideration and resources while setting aside those that might not be suitable
or beneficial. Together, project identification and screening ensure that resources are
directed toward projects are well-aligned with goals and have the potential to deliver
positive outcomes.
Project identification process within the project development cycle:

1. Idea Generation: Ideas for potential projects can come from various sources,
including employees, customers, stakeholders, market trends, technological
advancements, and internal discussions. These ideas may address a specific problem,
capitalize on an opportunity, or improve existing processes.
2. Screening and Preliminary Analysis: Project screening is a systematic process used
to evaluate and filter potential project ideas or proposals in order to identify those that
are most viable and aligned with an organization's goals, resources, and strategic
priorities.
 The goal of project screening is to weed out projects that are unlikely to succeed
or do not align with the organization's objectives, thereby focusing resources on
projects with the highest potential for success and value creation. In this step, the
initial ideas are screened to determine if they are viable and aligned with the
organization's goals.
 Preliminary analysis involves assessing factors like feasibility, potential benefits,
resource requirements, and risks. Ideas that don't meet basic criteria are eliminated
at this stage.
3. Feasibility Study: For the ideas that pass the preliminary analysis, a more in-depth
feasibility study is conducted. This study assesses technical, operational, financial,
economic, and environmental factors to determine whether the project is feasible and
worth pursuing.
4. Stakeholder Involvement: Engaging stakeholders, including key decision-makers,
potential beneficiaries, and experts, is essential during this phase. Their input and
feedback help refine the project ideas and ensure alignment with stakeholder
expectations.
5. Business Case Development: A detailed business case is developed for the selected
project ideas. The business case outlines the project's goals, scope, objectives,
expected benefits, costs, risks, and potential returns on investment. It helps decision-
makers evaluate the project's strategic fit and feasibility.
6. Project Selection: Based on the business cases, projects are prioritized and selected
for further development. The selection process considers factors such as alignment
with organizational strategy, potential benefits, resource availability, and risk factors.
 7. Approval and Authorization: Once the projects are selected, they undergo a formal
approval process. Senior management and stakeholders review the business cases and
provide authorization to proceed with project planning and execution.
8. Project Charter: A project charter is created for each approved project. The charter
outlines the project's high-level objectives, scope, stakeholders, resources, and initial
timeline. It serves as a reference document for project planning and execution.
9. Project Initiation: The project initiation phase marks the transition from project
identification to project planning. Detailed planning activities begin, including
defining project objectives, creating a detailed project plan, assembling the project
team, and establishing project governance.
10. Documentation: Throughout the project identification phase, documentation is
crucial. This includes records of idea generation, preliminary analyses, feasibility
studies, business cases, stakeholder engagement, and project selection criteria. These
documents provide a foundation for decision-making and project development.

By systematically identifying and evaluating potential projects, organizations can make

informed decisions about which projects to pursue and allocate their resources effectively to
projects that align with their strategic objectives and have the potential to deliver value.

Technical design is a crucial phase in the project development cycle, occurring after the
requirements gathering and analysis stage but before the actual development begins.

 It involves creating a detailed plan and blueprint for how the project will be
implemented from a technical perspective.
 The goal is to design a robust, efficient, and scalable solution that meets the project's
requirements and aligns with the overall project goals.

To make sure a project is worth investing in, the person proposing the project needs to show a
well-prepared study that identifies the following aspects:

 The way products/technology/materials are obtained and used. It includes whether

they're found nearby, brought from far away, and how reliable it is to get them.
 Any unique technical challenges and the skills needed to handle them.
 Early plans are like the first ideas for a project. They have pictures of the main tools
we need and details about how they should be made. We also know the name of the
 company that will make them and how to reach them. And also we guess how much
everything might cost. It's like planning everything out before we start.
 Plan for how the organization and management will handle the implementation,
including the schedule, the people needed, training for staff, the engineering of the
project, and other practical matters.

Key aspects of technical design:

1. Planning the Structure: we design the project's structure. It's like dividing the work
into smaller pieces so that each part can be built separately and then put together.
2. Choosing Tools and Technology: We decide which tools and technologies are best
for the project. It's like picking the right tools for the job, just like a carpenter chooses
the right tools to build furniture.
3. Creating a Prototype: Sometimes, we build a small version of the project first to see
how it works and make improvements before building the final version.
4. Making Everything Fit: We ensure that all the different parts of the project work
well together, just like how all the pieces of a puzzle fit together to create a complete
picture.
5. Testing and Fixing Problems: Before the final version, we test the project
thoroughly to find and fix any problems or errors. It's like checking if all the buttons
in a remote control work correctly.
6. Documenting the Design: Finally, we write down everything about the project so
that others can understand how it is to be built and how to use it.

The financing step is essential because without adequate funding, a project may not be able to
progress or achieve its objectives.

 Understanding how to plan and manage finances ensures that projects can be executed
successfully and within the available resources.

This stage includes:

1. Identifying Project Costs: First, we figure out how much money is needed to
complete the project. This includes expenses such as materials, equipment, labor, and
any other costs required for the project.
 2. Creating a Budget: Once we know the project's costs, we create a budget. A budget
is like a spending plan that outlines how much money we need and how it will be
allocated to different parts of the project.
3. Exploring Funding Sources: Next, we look for ways to get the money we need.
There are various funding sources, such as:

a. Self-funding: Using our own money or savings to finance the project.

b. External Funding: Seeking financial support from outside sources, such as

loans, grants, investors, or donations.

4. Financial Analysis: We assess the financial feasibility of the project by comparing

the expected costs with the potential benefits or returns. This helps us determine if the
project is financially viable and worth pursuing.
5. Applying for Funding: If we need external funding, we prepare and submit funding
applications to relevant organizations or institutions. These applications explain our
project, its objectives, and how the funds will be used.
6. Negotiating and Securing Funds: If our funding application is successful, we may
need to negotiate terms and conditions with the funding provider. Once the terms are
agreed upon, the funds are secured for the project.
7. Managing Finances: Throughout the project, we carefully manage the finances to
ensure that money is spent wisely and according to the budget. This includes keeping
track of expenses, making payments, and controlling costs.
8. Financial Reporting: We create reports to keep stakeholders informed about the
project's financial status. These reports help to monitor the project's financial health
and demonstrate accountability to funders and other stakeholders.
9. Contingency Planning: It's also essential to have a backup plan in case of unexpected
expenses or changes in the project's scope. We set aside some extra funds as a
contingency to handle unforeseen situations.

The contracting stage in the project development cycle involves finalizing agreements and
contracts with various parties involved in the project.

 This includes hiring contractors, suppliers, and service providers who will contribute to
the project's implementation.
As a significant portion of projects is usually carried out using contracts, effective contract
management plays a crucial role in ensuring project success. In this regard, the following
considerations are important:

 The project team should have the freedom to transfer contracts (partially or
completely) to other parties in advance, especially when delays are expected.
 Ensuring the competence and capability of all contractors is crucial, as a single
vulnerable point can disrupt the contract's timely execution.
 Contractors and suppliers need to be encouraged to adopt appropriate discipline by
requiring them to create practical and thorough resource and time plans that align with
the project's plan.
 Contractors and suppliers should receive assistance when they face real problems. We
should see them as teammates working together towards a common goal.

The implementation phase is again a crucial stage in the project development cycle, where
the plans and strategies formulated during the earlier stages are put into action.

 This phase involves executing the project activities, managing resources, and
addressing any challenges that arise.

Key aspects and activities that typically take place during the implementation phase:

1. Project Execution: During the implementation phase, the project team begins
executing the project activities as outlined in the project plan. This involves carrying
out tasks, processes, and procedures to create the project deliverables.
2. Resource Management: Effective resource management is vital in this phase. The
project manager allocates resources such as human resources, equipment, materials,
and funds to various project activities to ensure smooth execution.
3. Task Coordination: Tasks are coordinated and assigned to specific team members or
departments. Clear communication and collaboration among team members are
essential to ensure that everyone understands their roles and responsibilities.
4. Monitoring and Control: Project managers and stakeholders closely monitor the
progress of the project to ensure that it is on track and meeting its objectives. This
includes tracking milestones, timelines, and budgets, and making adjustments as
needed.
 5. Risk Management: Throughout the implementation phase, the project team identifies
and manages potential risks that could impact the project's success. Strategies are put
in place to mitigate these risks and prevent them from derailing the project.
6. Quality Assurance: Quality assurance processes are implemented to ensure that the
project deliverables meet the required standards and specifications. Regular quality
checks and audits may be performed to maintain the desired level of quality.
7. Change Management: In some cases, changes to the project scope, requirements, or
plan may be necessary during implementation. Change management processes are
used to assess the impact of changes, obtain approvals, and manage modifications to
the project.
8. Stakeholder Engagement: Stakeholders are kept informed of the project's progress
and involved as needed. Open communication with stakeholders helps manage
expectations and gain support for the project.
9. Documentation: Throughout the implementation phase, documentation is essential to
record project progress, decisions, changes, and any issues that arise. Proper
documentation provides a historical record and helps in post-implementation
evaluation and learning.

The implementation phase is dynamic and requires effective communication, collaboration,

and problem-solving skills from the project team. It is the stage where the project plan
transforms into real results, and successful implementation sets the foundation for project
success and achievement of objectives.

The performance Monitoring phase involves the systematic tracking, assessment, and
analysis of project performance to ensure that it stays on track and meets its objectives.

 The key focus of this phase is regularly looking at the results, comparing them to what was
expected, and figuring out if any improvements are needed.
 Performance monitoring helps make sure the project is being carried out effectively and
efficiently.

The main aspects and activities involved in the performance monitoring phase:

 Setting Standards: First, you decide what you want to achieve with your project. Just
like planning your project, you set clear standards for what you want to accomplish.
 Measuring Progress: As you work on your presentation, you keep track of how
much you've done. It's like marking off the parts you've finished.
 Comparing: You compare what's happening with what you planned. If your project
isn't on track, it's like noticing your plant isn't growing as it should.
 Identifying Issues: If the plant looks unhealthy, you figure out what's wrong – maybe
it needs more water or sunlight. Similarly, if your project isn't going well, you find out
what's causing the problem.
 Making Adjustments: You take action to fix the plant's issue, like giving it more
water. For the project, you make changes to get things back on track.
 Keeping Everyone Informed: Just as you'd tell others about your plant's progress,
you share updates with your team. This way, everyone knows how the project is
doing.
 Celebrating Success: When your plant blooms, you feel proud. Similarly, when your
project meets its goals, you celebrate the achievement.
 Continuous Monitoring: Just like you keep checking on your plant's health, you
regularly monitor the project until it's complete.