PROJECT MANAGEMENT

Roll No. Name

Shalin Solanki 37
Srashti Srivastava 38
Poonam Sugand 39
Karan Surve 40
Chintan Thaker 41
Devanshi Thakkar 42
Project
A temporary endeavor
undertaken to produce
a unique product or
service

A planned
undertaking of related
activities to reach an
objective that has a
beginning and an end.
Characteristics of a project
 Unique i.e. new undertaking and unfamiliar ground.
 Temporary-includes definitive beginning and end.
 Creates something new or improves/fixes something that
already exists.
 Proposes and supports change-temporary.
 Performed by people and teams.
 Constrained by resources.
 Planned, Executed, Controlled.
Examples
– constructing houses, factories, shopping malls, athletic
stadiums or arenas
– developing military weapons systems, aircrafts, new ships
– launching satellite systems
– constructing oil pipelines
– developing and implementing new computer systems
– planning concert, football games, or basketball tournaments
– introducing new products into market
Project Management:
• The application of knowledge, skills, tools, and techniques
to project objectives to meet stakeholder needs and
expectations.
• The purpose of project management is prediction and
prevention, NOT recognition and reaction.
Project management triangle
• Increased Scope = increased time + increased cost

• Tight Time = increased costs + reduced scope

• Tight Budget = increased time + reduced scope.

Phases of a Project Management
 Initiation Phase
Authorize a Project
Identify project objectives
Define the initial scope of the project
Obtain organizational commitment
Assign Project manager
Identify project stakeholders
 Planning Phase
 Elaborate and clarify project scope

 Develop realistic schedule

 Develop realistic budget

 Identify project and product quality processes

 Plan the human resource aspect

 Determine the communication needs

 Establish risk management processes

 Identify the procurement needs of the project

 Combine all information into project management plan

“Planning without action is futile, action without
planning is fatal”
 Execution Phase
Create the deliverables

Manage project quality

Manage project team

Report progress

Manage changes

Manage stakeholders

Bid and award contracts

 Monitoring and controlling
Review and analyze project performance

Recommend corrective and preventive actions

Process change requests

Report project performance

Respond to risk events

Manage contractors
 Closing Phase
Obtain formal acceptance of the product

Hand off of products, results

Close all project phases

Close out procurements

Document lessons learned

Archive project documents

Role of a Project Manager
Environment General
Scanning Management
Skills

Project
Management
Body of
Knowledge

Domain
Communication
Knowledge
Skills
“The most successful project managers have perfected
the skill of being comfortable being uncomfortable”
Key areas Project Management

Integration
IntegrationManagement
Management Scope
ScopeManagement
Management Time
Time Management
Management

Human
HumanResources
Resources
Cost
Cost Management
Management Quality
QualityManagement
Management Management
Management

Communications
Communications Procurement
Procurement
Management
Management Risk
Risk Management
Management Management
Management
 Integration management
Project integration management is concerned with
ensuring that the elements making up a project are
properly coordinated so that project goals are achieved.
 Scope management
Project scope management includes the processes required to ensure that, the project includes all the work required, and
only the work required, to complete the project successfully
 Time management
Time management
refers to a range of
skills, tools, and
techniques used to
manage time when
accomplishing specific
tasks, projects and
goals.
 Cost Management
 This process is required to ensure the project is completed within the
approved budget and includes:

 Resources
- people
-equipment
-materials
 Quantities

 Budget
 Quality Management
A product is identified by its Quality. Quality
management ensures the quality of product
demanded
Communication Management

This process is necessary to ensure timely and

appropriate generation, collection, dissemination,
and storage of project information
 Human Resource Management
 Human resource
management (HRM) is the
strategic and coherent approach
to the management of an
organization's most valued
assets - the people working
there who individually and
collectively contribute to the
achievement of the objectives
of the business.
“Too few people on a project cant solve the problems-
too many create more problems than they solve.”
 Risk Management
• Risk identification and mitigation strategy
• Risk update and tracking
 Procurement Management

Procurement is the sourcing and purchasing of goods

and services for business use.
 Change Control Management
• Define how changes to the project scope will be
executed
• Types
- Scope changes
- Schedule changes
- Technical specification changes
- Training changes
 Network analytical tools
Project review and evaluation
technique(PERT)
Gantt Charts
Work breakdown structure(WBS)
Critical Path Method
 Work Breakdown Structure
 WBS is deliverable-oriented
hierarchal decomposition of the
work to be executed by project
team to accomplish project
objectives and create the required
deliverables
 WBS organises and defines the
total scope of the project
 It represents the work specified in
the current approved project scope
statement
 Should represent all the product
and project work including project
management work
WBS
 Critical Path Method

Critical Path: The longest continuous path of activities

through a project, which determines the project end date

Critical Path Method (CPM), is a procedure for

using network analysis to identify those tasks which
are on the critical path: ie where any delay in the
completion of these tasks will lengthen the project
timescale, unless action is taken.
 Why CPM?

 Identifies tasks which must be completed on time for the

whole project to be completed on time
 Identifies which tasks can be delayed for a while if resource
needs to be reallocated to catch up on missed tasks
 Identifies the minimum length of time needed to complete a
project
 Determines both the early start and the late start date for
each activity in the schedule.
 How to use CPM ?
Project Network Diagram
 Any schematic display of the logical relationships of
project activities.
Building a Precedence Diagram
Calculating the forward pass
Calculating the backward pass
Calculating the float/critical path
 Activity on Node: A completion of an activity is represented by a node.
Lay foundations Build house
2 4 Finish work
2 3
7
Start 1 1
3
Design house 6
3
and obtain 1 5 1
financing Order and receive 1 Select carpet
Select paint
materials
Activity on Arrow

- An arrow represents a task, while a node is the completion of a task

- Arrows represent order of events

3
Lay Dummy
foundation 2 0 Build Finish
3 1 house work
1 2 4 6 7
Design house Order and 3 1
and obtain receive Select 1 1 Select
financing materials paint carpet
5
 FLOAT

Float or slack is the amount of time that a task in a project network can be
delayed without causing a delay to:

subsequent tasks (free float)

project completion date (total float)

Types of float:
1. Free float
2. Total float
3. Independent float
Calculation of Float
Project Evaluation And Review Technique(PERT)
• PERT is based on the assumption that an activity’s duration
follows a probability distribution instead of being a single value
• Three time estimates are required to compute the parameters of
an activity’s duration distribution:
– pessimistic time (tp ) - the time the activity would take if
things did not go well
– most likely time (tm ) - the consensus best estimate of the
activity’s duration
– optimistic time (to ) - the time the activity would take if
things did go well

Mean (expected time): te = tp + 4 tm + to

6

Variance: Vt =2 =
tp - to
6
Project Cost
 Project Crashing
 Crashing
 reducing project time by expending additional
resources
 Crash time
 an amount of time an activity is reduced
 Crash cost
 cost of reducing activity time
 Goal
 reduce project duration at minimum cost
Activity Crashing
 Time-cost relationship
 Crashing costs increase as project duration decreases
 Indirect costs increase as project duration increases
 Reduce project length as long as crashing costs are less
than indirect costs
Time-Cost Tradeoff
Benefits of CPM/PERT Limitations to CPM/PERT
 Graphic displays of activities • important activities may be omitted
 Mathematically simple •Activity time activity are based on
 Useful in monitoring cost judgment
 Identifies critical activities and • over emphasis on critical path
slack activities
 Provide project documentation
 Useful at various stages of
Project Management
 GANTT CHARTS
A Gantt chart is a type of bar chart that illustrates a
project schedule.
A Gantt chart is a graphical representation of the duration
of tasks against the progression of time.
 Gantt Charts

Advantages Limitations
- They provide an easy graphical - Do not clearly indicate details regarding
representation of when activities (might) the progress of activities
take place.
- Do not give a clear indication of
interrelation ship between the separate
activities
Limitations of Project Management
 PM works when there is buy-in for the methods and
process
 It does not work when
 buy-in is lacking or there is not support for the methods
by executives
 ‘end arounds’ are tolerated
 influential players operate project business outside the
project
 decisions made by project teams are not supported
 charters, schedules and other work products of the team
are not supported
QUESTIONS