PROJECTS AND OPERATIONS

MANAGEMENT

MODULE 2
Dhritiman Chanda
January 12,2023
Modern Project Management
Project Management Knowledge Areas

 Project Management consists of chronological phases that every project goes through and
which are Project Initiation, Project Planning, Project Execution, Project Monitoring and
controlling, and Project Closing.
 Consider all these as the upper body or the visible body of a tree. All these processes are the
main processes and a project is completed by completing these processes only.
 But, this is only the upper knowledge or an overview of the Project Management Project.
Unlike any tree, this tree also has a root.
 These roots are the Project Management Knowledge Areas.

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Project Management Knowledge Areas

Project integration management

Project scope management

Project time management

Project cost management

Project quality management

Project resource management

Project communications management.

Project risk management

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Project Integration Management

 According to PMI,Steps
“Project
inIntegration
Project Management
Integration helps to identify, define, combine, unify,
Management
and coordinate different processes and activities with project management process groups.”
 Project integration management helps managers list down all processes and tasks and give
The seven
direction crucial
to team stepsIt in
members. projectdeals
proactively integration
with sharedmanagement are:
resources and their overlapping
schedules and improves work efficiency within teams. The right integration also ensures all
project components are in order for enhanced organizational efficiency.
1.Create a project charter
 Let’s assume a project manager has mapped out a plan for Bangalore Metro. Now, integration
2.Develop a project management plan
is essential when processes and resources interact. To schedule tasks of multiple teams from
3.Manage projectand
different departments execution
manage the deliverables for various project activities.
4.Manage
Here project project
documentsknowledge
and deliverables from mechanical and electrical engineering are
integrated to ensure
5.Monitor consistency
and control betweenwork
project project deliverables.

6.Integrated change control

7.Project closure
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Project Scope Management

 Project Scope Management refers to a set of processes that must be completed in order to deliver a “project,”
which could be a product, service or result with specific features or functions.
 Scope Management focuses on “how we get there” or perhaps more accurately “what steps do we take to get
there?”
 These steps are defined and mapped so that project managers and supervisors can determine the amount of
work needed and where to focus efforts of the team in order to complete the project.

PROJECT SCOPE MANAGEMENT INCLUDES THREE PROCESSES:

 Planning – The project is defined and the work (or processes) needed to deliver the project is
determined.
 Controlling – This involves tracking, managing and monitoring the progress of a project, including
tracking documentation, scope creep, tracking the work during each phase, and disapproving/approving
any changes along the way.
 Closing – This is the “wrap up” part of the process, which involves an audit of the project deliverables
and accessing the results of the final product against the original defined plan.
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Project Time Management

When are working on a project, time management is the process of scheduling tasks and keeping
track of the progress made. It might also involve adjusting the schedule as necessary to keep
everything on track.
This can be especially important when working with a team, as everyone’s work must be
accomplished at roughly the same pace. Along these lines, it’s also important to document any
decisions along the way so that future iterations aren’t left guessing as to what went wrong or
right.

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Project Cost Management

Project cost management is the process of estimating, budgeting and controlling costs throughout
the project life cycle, with the objective of keeping expenditures within the approved budget.
For a project to be considered a success, it’s necessary that
it delivers on the requirements and scope
its execution quality is of a high standard
it’s completed within schedule and
it’s completed within budget.

By implementing efficient cost management practices, project managers can:

Set clear expectations with stakeholders
Control scope creep by leveraging transparencies established with the customer
Track progress and respond with corrective action at a quick pace
Maintain expected margin, increase ROI, and avoid losing money on the project
Generate data to benchmark for future projects and track long-term cost trends

https://www.actitime.com/project-cost-management/project-cost-management
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Project Quality Management

 Project quality management is a process that considers how a project should proceed to achieve
the desired quality for the project’s deliverables. It requires project managers to continually
measure the quality of the activities and processes involved in the project. In project quality
management, standards are set ahead of time to measure deliverables against, and action needs
to be taken throughout the project to course-correct.
 Project quality management's ultimate goal is to guarantee deliverables that satisfy the needs
and expectations of clients, stakeholders, or customers, depending on its end-user.
 The elements of Project Quality Management are
Quality Planning
Quality Assurance
Quality Control

https://www.forecast.app/blog/what-is-project-quality-management

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Project Resource Management

 Project resource management identifies, schedules, and oversees internal and external resources
required for successful project delivery. It measures every team member’s productivity and helps you
take proactive measures to maximize their billable and strategic utilization.
 Effective project resource planning provides a clear picture of who is doing what and how long they
need to accomplish the same. It helps you visualize underutilized resources or those getting rolled off
from tasks and re-allocate them to suitable project vacancies.
 Steps in PRM
 Resource Planning
 Estimate Resources/Resource Allocation
 Acquire Resources
 Develop and Manage a Team
 Evaluate Resources

https://thedigitalprojectmanager.com/projects/managing-schedules/project-resource-management-
process/

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Project Communication Management

 Communications management in project management outlines the processes and procedures needed to ensure
that information and data throughout the life of a project are properly collected, stored, and distributed across
the project team.
 85% - 90% of a project managers time is spent in communicating. Communication-related issues are the most
frequent problems faced by the project manager. There is a need for structured communications management
plan.
 Communicating on projects require an understanding of:
 Understanding the communication requirements from stakeholders
 Sharing with stakeholders on what communication is required from them
 Frequent updates to communication plan as per changing needs of the project5Cs of communication are advised
for reducing misunderstandings, these are – correct, concise, clear purpose, coherent (logically connected ideas
and possibly using markers like introduction and summary), controlled (by using summaries and graphics).
 Skilled communication involves actively listening, cultural/personal aspects, understanding stakeholder
expectations, and people handling skills.
 Fundamentals of effective communication include clarity, the understanding receiver needs & monitoring the
communication.
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Project Risk Management
 Project risk management is the process of identifying, analyzing and responding to any risk that arises
over the life cycle of a project to help the project remain on track and meet its goal.

 Risk management isn’t reactive only; it should be part of the planning process to figure out the risk that
might happen in the project and how to control that risk if it in fact occurs.

 Risks are potentialities, and in a project management context, if they become realities, they then become
classified as “issues” that must be addressed with a risk response plan. So risk management, then, is the
process of identifying, categorizing, prioritizing and planning for risks before they become issues.

 Steps in PRM
 Identify
 Analyze
 Prioritize
 Assign
 Monitor
 Respond

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