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PM Lesson 1 - Project

The document provides an introduction to project management. It defines what a project is, outlines the key components of a project definition including goals, objectives and scope. It also discusses the triple constraint of scope, time and cost that projects are bound by and how to manage each constraint.

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maureen chanda
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29 views17 pages

PM Lesson 1 - Project

The document provides an introduction to project management. It defines what a project is, outlines the key components of a project definition including goals, objectives and scope. It also discusses the triple constraint of scope, time and cost that projects are bound by and how to manage each constraint.

Uploaded by

maureen chanda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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BLISH LINKS TECHNOLOGIES

& CONSULTANCY AGENCY


MR. SAMUEL M.
BA, MFB, MBA, FZICA
INTRODUCTION TO PROJECT
MANAGEMENT
Lesson One (1)
Project
What is a Project??
 Unique process consisting of a set of coordinated and controlled activities
with start and finish dates.
 A project is undertaken to achieve an objective conforming to specific
requirements, including constraints of time, cost, quality and resources.
 Simply put, a project is a series of tasks that need to be completed in
order to reach a specific outcome.
 A project can also be defined as a set of inputs and outputs required to
achieve a particular goal.
 Projects can range from simple to complex and can be managed by one
person or a hundred.
Project Definition
 The project definition tells you what your project is and what your
project is not.
 There are 3 fundamental components of a project definition and these
are;
 Goal: this answers the question what do we want?
 Objectives: this answers the question how do we want it?
 Scope: how much of it do we want?
 We gather our project definition in what is called a project definition
document, an outline project initiating document or a project terms of
reference.
Other elements included in project
definition
 Key deliverables: what it is we expect to produce. The main thing the project
will produce in order to fulfill its goal.
 Dependence: links between our projects and what else is going on in our
organisations like other projects, other activities business as usual
 Constraints: any restriction that defines a project's limitations;
 Uncertainties and assumptions: the former looks a the things we don’t know
and the latter is how we feel the gaps in our knowledge temporarily
 Risk: involves uncertainty about the effects/implications of an activity often
focusing on negative, undesirable consequences.
 Key Stakeholders: who the key stakeholders are.
Triple constraint

 A Project is a planned set of activities.


 It is typically “bound” or constrained by three elements,
which may be expressed in different ways and these are;
 Scope
 Time
 Cost
Scope constraint
 The scope of a project defines its specific goals, deliverables, features and
functions, in addition to the tasks required to complete the project.
 The scope of the project should be clearly and regularly communicated to all
stakeholders to ensure that “scope creep”—the term used when changes are
made to the scope mid-project, without the same levels of control—is
avoided.
 To keep the scope in check, one should;
 Provide clear documentation of the full project scope at the beginning of the
project, including all requirements.
 Set up a process for managing any changes, so if someone proposes a
change, there is a controlled system in place for how that change will be
reviewed, approved or rejected, and implemented if applicable.
 Communicate the scope clearly and frequently with stakeholders.

Time constraint
 The time constraint refers to the project’s schedule for completion,
including the deadlines for each phase of the project, as well as the date
for rollout of the final deliverable.
 When it comes to the time constraint, proper scheduling is essential.
 following steps should be taken for effective time management:
 Planning: This includes defining the main goal(s) of the project team, how the
team intends to achieve the goal, and the equipment and/or steps that will be
taken to do so
 Scheduling: The project management team must plot out the realistic timeframe
for completion of each phase of the project
 Monitoring: This step occurs once the project is underway and requires the
project team to analyze how the past stages of the project performed,
noting trends and impacts on future plans, and communicating these
findings to all relevant stakeholders.
 Control: In the control step, the team must, upon
communicating the results of
each phase of the project, move forward accordingly
 A Gantt chart can be helpful to visualize the project timeline
and whether
they are tracking to the proper constraints
Cost constraint
 The cost of the project, often called the project’s budget, comprises all of the
financial resources needed to complete the project on time, in its
predetermined scope.
 A project’s budget includes both fixed and variable costs, including materials,
permits, labor and the financial impact of team members working on the
project. A few of the ways to estimate the cost of a project include:
 Historical data: Looking at what similar projects cost in the recent past
 Resources: Estimating the rate of cost for goods and labor.
 Parametric: Comparing historical data with updated, relevant variables
Characteristics of a Project
 Projects are Unique
 Projects have a start and finish point.
 Projects have a set budget
 Projects exist to either solve a problem or seize an opportunity
 A project seeks to make instant changes/benefits
 A project has associated risk
 A project has a number of steps that make up the project life cycle
Project vs. Program
 A Program is a set of related measures or activities with a particular
long term aim
 A project represents a single, focused endeavor while A program is a
collection of projects.
 Different projects complement each other to assist the program in
achieving
its overall objectives.
 A Program is a set of related measures or activities with a particular
long term aim
Thank you!!!
End of Lesson One (1)

BLISH LINKS TECHNOLOGIES


& CONSULTANCY AGENCY

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