Introduction To Project Management: by Ajinkya Pol

Introduction to Project Management
Learn about the different types of projects and how project management helps to achieve the unique goals and
objectives of each project. Discover how to successfully complete a project on time, within budget, and meet
predetermined specifications.
by Ajinkya Pol
Project Goals and Objectives
1 Established Goals 2 Temporary Lifespan
Projects have a defined objective which when Projects are temporary, and they have a defined
achieved, completes the project. This differs start and end. An example of this is
from functions of an organization where goals predetermined start and end times.
continue despite the achievement of objectives.
3 Unique Activities 4 Specific Parameters
A project involves the completion of non- Cost, duration, quality, and scope of the project
repetitive tasks. The unique set of activities is will define project success and guides payment.
specific to each project.
Key Traits of Successful Projects
Communication Planning
Effective communication enables teams to work Good project planning helps to establish direction
efficiently and avoid misunderstandings. and allows for effective time management.
Leadership Flexibility
Quality leadership is necessary for the motivation Adapting to changing circumstances during the
and organization of teams to achieve project project can overcome obstacles and ensure
objectives. success.
Steps in Project Management
1 Initiating
Define the project and plan the scope, budget, and schedule. Identify stakeholders and assess
feasibility.
2 Planning
Define objectives and create a detailed project plan. Assign roles, responsibilities, and costs.
3 Executing
Implement the project plan and begin the tasks. Manage resources, quality, and risks
4 Monitoring & Controlling
Track project progress and performance. Manage changes and adjust where necessary.
5 Closing
Finalize project deliverables and close the project. Evaluate project success and identify areas for
improvement.
Project Planning: Objectives and Strategies
Establish Objectives Create a Plan Assess Risks
Define the project objectives, Create a project plan that takes Understand the risks involved in
deliverables, and outcomes. Set into account all timelines, the project and devise strategies
measurable targets for cost, time, dependencies, resources and to mitigate them. Build
and scope. organizational considerations to contingencies into the project
complete the project plan.
successfully.
Effective Project Communication
Face-to-Face Virtual Meetings Email
Face-to-face communication Virtual team meetings can keep Email is effective for distributing
ensures clarity, eliminates remote team members in the loop, information broadly, such as
ambiguity and is more engaging reduce travel and save time. updates on team meetings, project
than email, which can be deadlines, and progress reports.
misinterpreted or ignored.
Project Success Factors
1 Stakeholder 2 Collaborative 3 Integration with

Satisfaction Teamwork Organizational
Culture
A satisfied stakeholder is The project team should be
critical for the success of cohesive and should work Results of the project
any project. Therefore, collaboratively to achieve should mesh with the
managing the expectations project objectives. goals, values and mission
of stakeholders and Teamwork ensures that the of the organization. It
ensuring they feel sum of all contributions is should be viewed as an
comfortable is a key factor. greater than the individual integral part of
contributions. organizational culture.
Project Team Management
Managing Roles Performance Management Leadership Development
Define project roles and

responsibilities. Assign specific Maintain high morale and Develop the leaders within the
work assignments, deadlines and productivity of team members. team for higher roles within the
decision-making authority to Recognize and reward the team organization and develop
members. for effective performances. organizational capability.
Address challenges and redefine
roles as needed.
Project Quality and Risk Management
1 Quality Management
Assess quality standards, review and refine the project plan, and execute quality improvements
throughout the project.
2 Risk Identification
Identify potential risks early in the project, evaluate their likelihood of occurrence, and prioritize
their impact. Update the plan using strategies that reduce the chance of the risk becoming a reality.
3 Risk Management
Create a risk management plan to avoid or minimize risks that could reduce project success.
Provide resources and regular communication to support the plan's risk mitigation strategies.
Project Budgeting and Cost Management
Cost Budgeting
Create a cost budget to gauge the project's cost requirements and address all project expenses. Understand
costs/priorities and develop a process to track them.
Cost Analysis
Project cost and strategic planning are essential to find cost structures that match your budget goals. Cost
analyses can assess viability in reducing costs without affecting the feasibility and output of the project.
Cost Control
Create a process to set goals and targets based on cost projections. Analyze all variances to ensure that project
goals are not negatively impacted without maintaining accurate budget records.
Project Management Tools
Gantt Chart Resource Allocation Chart Budget Spreadsheet
A timeline tool that visually A financial sheet that indicates

depicts all the tasks and A diagram that illustrates each critical financial points for the
objectives of the project, resource planned for and checks project, including projected and
including overlapping ones. the interdependence of activities actual expenses budgets, and
required for the project. cost management measures.
Project Closeout and Evaluation
1 Final Delivery of Project
The final step in any project is the delivery of the final outputs or services to the client. The
work is evaluated to determine if it meets the project goals.
2 Post-Project Review
A thorough review of the entire project by the team and stakeholders allows for evaluation of
strengths and weaknesses in the project and lessons learned for the future.
3 Closing Transfer of Project Knowledge
Ensuring that all the relevant project documentation and knowledge transfer is done
effectively will help the organization preserve the know-how for future projects and avoid
reinventing the wheel each time a similar project arises.

Introduction To Project Management: by Ajinkya Pol

Uploaded by

Copyright:

Available Formats

Introduction To Project Management: by Ajinkya Pol

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Introduction To Project Management: by Ajinkya Pol

Uploaded by

Copyright:

Available Formats

Introduction to Project Management

1 Established Goals 2 Temporary Lifespan

3 Unique Activities 4 Specific Parameters

4 Monitoring & Controlling

Establish Objectives Create a Plan Assess Risks

Face-to-Face Virtual Meetings Email

1 Stakeholder 2 Collaborative 3 Integration with

Define project roles and

A timeline tool that visually A financial sheet that indicates

3 Closing Transfer of Project Knowledge

You might also like