What is a project?

 It is a temporary endeavor undertaken to create a unique product, service or result.

 It is temporary in that it has a defined beginning and end in time, and therefore defined scope
and resources.
 It is unique in that it is not a routine operation, but a specific set of operations designed to
accomplish a singular goal.

Reference: https://www.pmi.org/about/learn-about-pmi/what-is-project-management

What is project management, including the project management knowledge areas?

 It is the application of knowledge, skills, tools, and techniques to project activities to meet the
project requirements.
 It has always been practiced informally, but began to emerge as a distinct profession in the mid-
20th century.

Project management knowledge draws on ten areas:

o Integration
o Scope
o Time
o Cost
o Quality
o Procurement
o Human resources
o Communications
o Risk management
o Stakeholder management

Reference: https://www.pmi.org/about/learn-about-pmi/what-is-project-management
Program and project portfolio management

 Program- A program is a group of related or similar projects managed in a coordinated way to

get the benefits and control not available from managing them individually. This means that in a
program you will have multiple projects which are either similar or related to each other.
 Program Management- Program management is defined as the centralized coordinated
management of a program to achieve its strategic objectives. In program management, you only
manage the interrelated or interdependent projects as a group to achieve the desired result.

The Benefits of Program Management

The following are a few benefits of program management:

 Less conflict among projects

 Optimal utilization of resources
 Resource constraints are minimized
 Better communication and coordination among projects
 Improves organization’s performance

 Portfolio- Portfolio refers to a group of related or non-related projects or programs. A portfolio

can consist of multiple programs or multiple projects without having a single program. A
portfolio can have multiple non-similar projects without having a program, because two or more
non-related projects will be managed under portfolio management. Conversely, in program
management only related projects are managed.
  Portfolio Management- Portfolio management has a bigger scope and objective than program
management. In portfolio management, there is a centralized management whose job is to
identify, prioritize, and authorize the projects or programs. This centralized management
controls and manages the projects or programs to achieve the organization’s strategic business
objectives.

The Benefits of Portfolio Management

The following are a few benefits of portfolio management:

 Optimal allocation and utilization of resources among projects or programs

 Provide constant support to projects or programs
 Fewer conflicts and better communication among projects or programs
 Better coordination among projects or programs

The Difference between Portfolio Management and Program Management

The following are a few differences between portfolio management and program
management:

o In program management, you manage similar projects, while in portfolio management

you manage non-similar projects or different programs.
o The scope for program management is larger than the project scope, and the portfolio
has an organization-wide scope which changes with the strategic objectives of the
organization.

Reference: https://pmstudycircle.com/2012/03/project-management-vs-program-management-vs-
portfolio-management/

The role of the project manager

 A project manager is a person who has the overall responsibility for the successful initiation,
planning, design, execution, monitoring, controlling and closure of a project. Construction,
petrochemical, architecture, information technology and many different industries that produce
products and services use this job title.
 The project manager must have a combination of skills including an ability to ask penetrating
questions, detect unstated assumptions and resolve conflicts, as well as more general
management skills.
  Key among a project manager's duties is the recognition that risk directly impacts the likelihood
of success and that this risk must be both formally and informally measured throughout the
lifetime of a project.
 A project manager is a person who is responsible for making decisions, both large and small. The
project manager should make sure they control risk and minimize uncertainty. Every decision
the project manager makes must directly benefit their project.
 Project managers use project management software, such as Microsoft Project, to organize their
tasks and workforce. These software packages allow project managers to produce reports and
charts in a few minutes, compared with the several hours it can take if they do it by hand.

Roles and Responsibilities

The role of the project manager encompasses many activities including:

o Planning and Defining Scope

o Activity Planning and Sequencing
o Resource Planning
o Developing Schedules
o Time Estimating
o Cost Estimating
o Developing a Budget
o Documentation
o Creating Charts and Schedules
o Risk Analysis
o Managing Risks and Issues
o Monitoring and Reporting Progress
o Team Leadership
o Strategic Influencing
o Business Partnering
o Working with Vendors
o Scalability, Interoperability and Portability Analysis
o Controlling Quality
o Benefits Realization

Reference: https://www.projectsmart.co.uk/the-role-of-the-project-manager.php
The project management profession

 The consistent element that differentiates project management from general management is
the temporary and relatively self-contained nature of the project team assigned to undertake
the work of the project.
 The focus of project management is building a temporary organization, delivering the project
objective and then closing the temporary organization as efficiently as possible whereas the
focus of general management is the sustainment and improvement of a relatively stable
organization. This core trait of project management is supported by a range of special tools,
techniques and methodologies designed to assist in the process; these are described in a range
of publications not least of which being the PMBOK® Guide.

The concept of a profession

o The term profession has a number of distinct attributes that have changed over time.
The starting point for being professional is being paid for your work. Professional
football players are paid, amateurs are not, although in many sports, ‘amateurs’ are as
skilled as the ‘professionals’.
o The next element of being professional relates to skill and pride in the quality of the
work being produced. Many tradespeople consider themselves professional—
bricklayers, plasterers, artists, etc—because as well as receiving payment for their work,
they are proud of the quality of the work they accomplish.

The characteristics of a Profession

Traditionally, a Profession:

o Is an occupationally related social institution concerned with an identified area of

knowledge, established and maintained as a means of providing essential services to its
individual members and the society in which it operates.
o Renders a specialised service based upon advanced, specialised, knowledge and skill.
The profession collectively, and individually, possess a body of knowledge and a
repertoire of behaviours and skills (professional culture) needed to practice the
profession and make decisions in the service of the client.
o Is organised into one or more professional associations which, within broad limits of
social accountability, are granted autonomy in control of the actual work of the
profession and the conditions that surround it (admissions, educational standards,
examination and licensing, career paths, ethical and performance standards,
professional discipline).
 o Enjoys a common heritage of knowledge, skill, and status to the cumulative store of
which professional members are bound to contribute through their individual and
collective efforts.
o Is bound by a distinctive ethical code in its relationships with clients, colleagues, and the
public.
o Is charged with a substantial degree of public obligation by virtue of its possession of
specialized knowledge.
o Performs its services to a substantial degree in the general public interest, receiving its
compensation through limited fees rather than through direct profit from the
improvement in goods, services, or knowledge, which it accomplishes.
o
 So, to answer the question ‘Is project management a profession?’, if your benchmark is the
practices of the 19th and 20th centuries, definitely not as the professional associations do not
control the right to practice as a project manager.

However, in the paradigm of the 21st century, we are well on the way to being a ‘modern
profession’ based on professional associations. And while the ‘right to practice’ project
management is never likely to be regulated as we don’t threaten public safety in the way
doctors and engineers can, the desire of employers to engage professional project managers—
capable, qualified and ethical people—is already becoming apparent.

The challenge for the associations over the next few years will be developing the elements
beyond certifications needed to support professional project managers, and to create ways to
make this distinction attractive to members and recognizable to employers as simple
certifications are unlikely to be enough.

Reference: http://projectmanager.com.au/is-project-management-a-profession/
Planning the project (system proposal)

 Project planning is part of project management, which relates to the use of schedules such as
Gantt charts to plan and subsequently report progress within the project environment.

Initially, the project scope is defined and the appropriate methods for completing the project
are determined. Following this step, the durations for the various tasks necessary to complete
the work are listed and grouped into a work breakdown structure. Project planning is often used
to organize different areas of a project, including project plans, workloads and the management
of teams and individuals. The logical dependencies between tasks are defined using an activity
network diagram that enables identification of the critical path. Project planning is inherently
uncertain as it must be done before the project is actually started. Therefore, the duration of
the tasks is often estimated through a weighted average of optimistic, normal, and pessimistic
cases. The critical chain method adds "buffers" in the planning to anticipate potential delays in
project execution. Float or slack time in the schedule can be calculated using project
management software. Then the necessary resources can be estimated and costs for each
activity can be allocated to each resource, giving the total project cost. At this stage, the project
schedule may be optimized to achieve the appropriate balance between resource usage and
project duration to comply with the project objectives. Once established and agreed, the project
schedule becomes what is known as the baseline schedule. Progress will be measured against
the baseline schedule throughout the life of the project. Analyzing progress compared to the
baseline schedule is known as earned value management.

The inputs of the project planning phase 2 include the project charter and the concept proposal.
The outputs of the project planning phase include the project requirements, the project
schedule, and the project management plan.

Project planning can be done manually, but project management software is often used.

Reference: https://en.wikipedia.org/wiki/Project_planning