Project Management

What is your Projects?

• A project is a temporary effort with a clear start and end, aimed at creating a unique
product, service, or result.
• It has specific goals and works within limits like time, cost, and resources.
• Examples of Projects:
• Building a house.
• Developing a mobile application.
• Organizing a company event.
• Launching a marketing campaign.
• Implementing a new software system in an organization.
Key Characteristics of a Project
• Temporary
• Unique Deliverables
• Progressive Elaboration
• Resource Constraints
• Defined Objectives
• A project is a unique, transient endeavor, undertaken to achieve
planned objectives, which could be defined in terms of outputs
(Scope), outcomes or benefits (Quality).
• A project is usually deemed to be a success if it achieves the
objectives according to their acceptance criteria, within an
agreed timescale (schedule) and budget (cost).
Historical Overview of Project Management
Project VS Operations
Components of the Project
• Scope:
• Defines what the project will accomplish.

• Schedule:
• Outlines the timeline for completing the project.

• Budget:
• Specifies the financial resources available.

• Stakeholders:
• People or groups with an interest in the project’s outcome.

• Deliverables:
• Tangible or intangible outputs the project aims to produce.
 Quadruple Constraints in Projects
• The Quadruple Constraints in project management refer to the four interdependent
factors that define and influence the success of a project.
 Scope
• The specific work required to deliver the project's intended outcomes, including
objectives, deliverables, and tasks.
• Clearly defined scope ensures all stakeholders have a common understanding of what
the project will and will not include.
• If scope is not managed effectively, it can lead to scope creep, where additional
requirements are added without proper planning or approval.
 Time
• The schedule for completing the project, including deadlines for milestones and
deliverables.
• Proper time management ensures that project objectives are met within the agreed
timeframe.
• Missed deadlines can result in project delays, increased costs, or failure to meet
stakeholder expectations.
 Critical Path Method (CPM)
• The Critical Path Method (CPM) is a project management technique used to schedule,
organize, and analyze the sequence of tasks required to complete a project.
• It helps identify the critical path, which is the longest sequence of dependent tasks that
determines the minimum duration needed to complete the project.
 Critical Path Method (CPM)
• Improved Scheduling
• Focus on Critical Tasks
• Resource Optimization
• Better Risk Management
 Gantt Chart
• A Gantt Chart is a project management tool that visually represents the timeline of a
project.
• It shows the start and end dates of various tasks, their dependencies, and their progress
against a timeline.
 Cost
• The budget allocated for the project, covering resources, personnel, equipment, and other
expenses.
• Maintaining control over costs ensures the project remains financially viable.
• Cost overruns can threaten the financial health of the project and the organization.
• Some of the commonly used budgeting techniques are:
• Top-Down Budgeting
• Bottom-Up Budgeting
• Activity-Based Budgeting (ABB)
• Zero-Based Budgeting (ZBB)
• Rolling Wave Budgeting
 Budgeting
• The choice of budgeting technique depends on:
• Project Complexity
• Available Data
• Stage of Planning
• Flexibility Requirements
 Quality
• The degree to which the project's deliverables meet predefined standards or stakeholder
expectations.
• Delivering high-quality results is essential to project success and stakeholder
satisfaction.
• Compromising on quality to meet time or cost constraints can lead to project failure.
 Topology of Project
• The topology of a project refers to the structural arrangement or organization of various
elements and components within a project.

• It outlines how tasks, resources, stakeholders, and communication are interconnected and

managed to achieve project goals.

 What is 3P Management?
• The term 3P management represents different levels of management within an
organization, with each having its own scope, objectives, and goals.
Project
• A project is a temporary endeavor undertaken to create a unique product, service, or
result.

• Characteristics:
• Temporary

• Unique Deliverable

• Defined Objectives

• Constraints
 Program
• A program is a collection of related projects that are managed and coordinated together
to achieve a common goal or benefit.

• Programs are ongoing and are generally longer-term than individual projects, focusing
on achieving strategic objectives.

• Characteristics:
• Related Projects

• Strategic Goals

• Ongoing
 Portfolio
• A portfolio is a collection of projects and programs managed in a coordinated way to
achieve strategic objectives and optimize the allocation of resources.

• Portfolios include all ongoing and planned initiatives, whether or not they are
interrelated.

• Characteristics:
• Broad Scope

• Strategic Alignment

• Resource Optimization

• Dynamic
• A portfolio is a collection of projects and programs managed in a coordinated way to
achieve strategic objectives and optimize the allocation of resources.

• Portfolios include all ongoing and planned initiatives, whether or not they are
interrelated.

• Characteristics:
• Broad Scope

• Strategic Alignment

• Resource Optimization

• Dynamic
 What is Project Management?
• Project management is the systematic professional application of processes to lead
teamwork to complete projects using available resources.

• These processes involve skills, finances and other available assets that can be
productively used according to project management framework and methodologies to

achieve maximal productive output.

5 Phases of Project Management
Types of Project Management
Roles related to Project Management
 Critical Success Factors(CSF)
• Critical success factors are the essential elements that an organization must achieve to
reach its goals and remain competitive in its industry.
Steps to Identify CSF
1. Define project goals

2. Understand the project scope

3. Communicate at every stage

4. Manage potential risk

• Critical factors help to

• Save time and money by working efficiently.

• Utilize the available resources in the best possible way.

• Identify and prioritize tasks.

• Identify, monitor, and control risks.

• Facilitate communication between team members.

Failure Criteria of the Projects
• Failure criteria are conditions or situations that indicate a project, process, or activity has
failed to meet its intended objectives, requirements, or performance standards.

• These criteria help identify when corrective actions are needed or when a project or
activity should be terminated to avoid wasting further resources.
Examples of Failure Criteria by Domain
1.Construction Project:
1. Structure fails to meet building codes or standards.
2. Cost overruns exceed 20% of the project budget.
3. Project completion is delayed by more than six months.

2.Software Development:
1. Application crashes frequently under normal usage conditions.
2. Key functionality is not implemented by the agreed release date.

3. Security vulnerabilities remain unresolved before deployment.

3.Manufacturing:
1. Product defect rate exceeds 5% of total production.
2. Production delays result in missed delivery deadlines.
3. Materials used do not meet required specifications.