Project Management refers to the discipline of planning, organizing, coordinating, ADV AND DIS ADV OF PURE MATRIX FORM OF

and overseeing resources and processes to achieve specific goals and objectives within ORGANIZATION- The pure matrix form of organization is a hybrid
a defined timeframe and budget. It involves applying tools, techniques, skills, and structure where employees report to both functional managers
knowledge to ensure that a project meets its requirements effectively and efficiently.
Project Management can be defined as: "The application of knowledge, skills, tools,
(responsible for specialized departments like finance, marketing, or IT)
and techniques to project activities to meet the project requirements." and project managers (responsible for specific projects). It aims to
combine the strengths of functional and projective organizational
structures. ADV- 1) Efficient Resource Utilization: Resources are
SWOT Analysis is a strategic planning tool used to evaluate an shared across multiple projects, reducing duplication and idle time.
organization's internal and external environment to aid in decision-making. Specialized expertise is available to all projects. 2)Enhanced
It identifies Strengths, Weaknesses, Opportunities, and Threats, Communication: Promotes cross-functional collaboration between
providing a comprehensive framework for analysing a project, business, or departments. Facilitates better information flow within the organization.
situation. 1)STRENGTH- Internal attributes or resources that provide a 3)Improved Flexibility: Allows quick adaptation to changes in project
competitive edge or contribute positively to achieving goals. EX- A strong requirements or organizational priorities. Resources can be reallocated to
recognized brand name, Skilled employees, strong leadership, or a cohesive high-priority projects as needed. 4)Skill Development: Employees gain
team. 2)WEAKNESS- Internal shortcomings or limitations that hinder experience in both their functional roles and project work. Encourages
performance or create disadvantages. EX- Insufficient funding, outdated broad skillsets, fostering professional growth. 5)Increased
equipment, Lack of skilled personnel or high employee turnover. Weak Accountability: Both functional and project managers are accountable
distribution channels or insufficient market research. for their domains. Projects benefit from functional expertise and focused
3)OPPORTUNITIES- External conditions or trends that the organization leadership.
can exploit to grow, innovate, or gain a competitive advantage. EX-
Expanding markets or emerging customer needs. New laws or policies that
favor the industry. Gaps or mistakes by competitors. 4)THREATS-
External factors or challenges that could negatively affect performance,
growth, or success. EX- Recession, inflation, or unfavorable exchange
rates. New taxes, compliance requirements, or trade barriers.

TYPES OF PAYMENT TO CONTRACTORS- Payments to contractors can be

structured in various ways depending on the nature of the contract, project
requirements, and agreed-upon terms. TYPES- 1)Lump Sum Payment (Fixed Price
Contract)- The contractor is paid a single fixed amount for completing the project or
delivering specific deliverables. 2) Time and Materials (T&M) Payment- The
contractor is paid based on the time spent and materials used for the project. 3)Unit
Price Payment- The contractor is paid based on a fixed rate per unit of work
completed. 4)Progress Payments (Milestone Payments)- Payments are made at
predefined stages or milestones as the project progresses. 5)Advance Payment- An
upfront payment is made to the contractor before work begins, usually for
mobilization or initial expenses.
DIS ADV- 1) Conflict of Authority: Dual reporting structure can create Breakdown Structures are hierarchical tools used in project management to
confusion among employees. Conflicts may arise between project and organize and decompose a project into smaller, more manageable
functional managers over resource allocation or priorities. 2)Complexity components. These structures provide clarity, improve planning, and ensure
in Management: Requires strong coordination and communication that all aspects of the project are addressed. TYPES- 1)Work Breakdown
mechanisms. Decision-making can become slower due to multiple layers Structure 2)Product Breakdown Structure 3)Organizational Breakdown
of authority. 3)Resource Overload: Employees may be assigned to Structure 4)Resource Breakdown Structure 5)Risk Breakdown Structure
multiple projects simultaneously, leading to workload stress. Risk of BENEFITS- 1) Improved Clarity: Breaks complex projects into
burnout if demands are not managed effectively. 4)Costly Structure: manageable pieces. 2)Enhanced Planning: Facilitates detailed scheduling,
Requires more management roles (both functional and project budgeting, and risk analysis. 3)Better Communication: Provides a clear
managers). Overheads can increase due to additional coordination and visual representation for stakeholders. 4)Accountability: Assigns
meetings. 5)Challenges in Performance Evaluation: Difficulty in responsibilities clearly within teams or departments. 5)Resource
assessing employee performance due to shared responsibilities across Management: Identifies resource needs and constraints effectively.
projects and functions. May lead to dissatisfaction if evaluation criteria
are unclear or biased.
Risk Management is the systematic process of identifying, analyzing,
prioritizing, and mitigating risks to minimize their impact on a project,
organization, or goal. It is a proactive approach to dealing with uncertainty,
ensuring that potential threats are controlled and opportunities are leveraged
effectively. BENEFITS- 1)Helps anticipate and prepare for potential
challenges. 2)Provides insights into risks to make informed choices.
3)Allocates resources to mitigate the most critical risks. 4)Reduces delays,
cost overruns, and failures by addressing risks early. Risk management
Recognize potential risks that could affect objectives. Evaluate the
likelihood and impact of identified risks. Effective risk management
ensures that a project or organization is prepared to handle
uncertainties, fostering resilience and adaptability.

Project Benefit Monitoring and Evaluation (PBME) is a systematic process used to

assess whether a project achieves its intended benefits and outcomes over time. It
focuses on tracking progress, measuring results, and evaluating the effectiveness of
project activities in delivering value to stakeholders. 1) Clearly define the expected
benefits of the project, aligned with organizational goals. Ex: Increased revenue,
improved customer satisfaction, enhanced operational efficiency. 2) Develop a roadmap
outlining how and when the benefits will be achieved. Include specific metrics and
targets to measure success. 3) Continuous tracking of benefit realization during and after
project implementation.