Project Management
Project: A project is a temporary endeavor undertaken to create a unique product or
service.
Project Process Flow
The Project Management Knowledge Areas
1. Integration Management
Plan development
Project plan execution control
Integrated change control
2. Scope Management
Initiation
Scope planning
Scope definition
Scope verification
Scope change control
3. Time Management
Activity definition
Activity sequencing
Activity duration
Activity estimating
Schedule development
Schedule control
4. Cost Management
Resource planning
Cost estimating
Cost budgeting
Cost control
5. Quality Management
quality planning
quality assurance
quality control
6. Human Resources
organizational planning
staff acquisition
team development
7. Communication Management
Communications planning
Information distribution
Performance reporting
Administrative closure
8. Risk Management
Risk management planning
Risk identification
Qualitative risk analysis
Quantitative risk analysis
Risk response planning
Risk monitoring and control
9. Procurement Management
Procurement planning
Solicitation planning
Solicitation
Source selection
Contract administration
Contract closeout
Project Management Knowledge Areas
Project Management:
Project management is the application of knowledge, skills, tools, and techniques
to project activities to meet project requirements. Project management is accomplished
through the use of the following 5 processes:
Initiation
Planning
Execution
Controlling and
Closure
The project team manages the various activities of the project, and the activities typically
involve:
Competing demands for: scope, time, cost, risk, and quality.
Managing expectations of stakeholders.
Identifying requirements.
Project Framework
Initiate Prepare Execute & Close
Control
Track
Track
&&Control
Control
Scope
Planning Management
Definition Planning
Definition/ / and Completion
Startup Scope / and Workplan Reporting Completion&&
Startup Scope / Resource Management Reporting Assessment
Requirements Resource Assessment
Requirements Allocation Resource
Allocation
Management
(Time, Cost,
People)
Review
Review
Deliverable
Mgmt
Quality
Risk & Issue Management
Management
Sponsor Management Transition Plan
Communication Management
Int/Ext Vendor
Management
Budgeting and Controlling Costs:
Budget:
A formal statement of the financial resources set aside for carrying out specific activities in a
given period of time. It helps to co-ordinate the activities of the organization.
Budgetary control
A control technique whereby actual results are compared with budgets.
Characteristics of a budget
A good budget is characterised by the following:
Participation: involve as many people as possible in drawing up a budget.
Comprehensiveness: embrace the whole organisation.
Standards: base it on established standards of performance.
Flexibility: allow for changing circumstances.
Feedback: constantly monitor performance.
Analysis of costs and revenues: this can be done on the basis of product lines,
departments or cost centres.
PROJECT PHASES AND THE PROJECT LIFE CYCLE
STAKEHOLDERS
Project stakeholders are individuals and organizations that are actively
involved in the project, or whose interests may be positively or negatively
affected as a result of project execution or project completion
The project management team must identify the stakeholders, determine their
requirements, and then manage and influence those requirements to ensure a
successful project
Stakeholder identification is often especially difficult.
Key stakeholders on every project include:
Project manager
Customer
Performing organization
Project team members
Sponsor
Others: sellers and contractors, team members and their families,
government agencies and media outlets, individual citizens, temporary or
permanent lobbying organizations, etc.
Managing stakeholder expectations is difficult because stakeholders often
have very different objectives that may come into conflict. For example:
The manager of a department that has requested a new management
information system may desire low cost, the system architect may emphasize
technical excellence, and the programming contractor may be most interested
in maximizing its profit.
