INDIAN INSTITUTE OF MODERN MANAGEMENT (IIMM)
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PM & HRD
Project ManagementAnswer 1. (a)Project
The most obvious characteristic of a Project is that it has to achieve a particular purpose and this isnormally indicated in the Project’s name: Mumbai-Pune Expressway Project, Reliance Petroleum RefineryProject, Bharati Telecom Project, The Hindustan Lever Compensation Survey Project, NagarjunaFertilizers Project, The Chinnaswamy Stadium Project, The National Sports Complex Project, The HindujaHospital Project, etc.This distinguishes it from routine activities which are part of an organization’s normal business,such as running a payroll, editing a daily news paper or producing another ten thousand tins of beans, or cars, or motors or bicycles.A Project is a job that is done one time. Cooking a meal is a project. A heart surgery is a project.A Project involves a single, definable purpose, end-time or result, usually specified in terms of cost, schedule and performance requirements.Every project is unique in that it requires doing something different than was done previously,Even in ‘routine’ projects such as home construction, variables such as terrain, access, zoning laws, labour market, public services and local utilities make each project different. A project is a one-time activity never to be exactly repeated again.Finally a project is the process of working to achieve a goal; during the process, a project passesthrough several distinct phases, called the project life cycle. The tasks, people organizations and other resources change as the project moves from one phase to the next. The organization structure and resourcestructure expenditure slowly build with each succeeding phase; peak; and then decline as the project nearscompletion.Moreover, no two projects are the same. A project to stage this year’s Filmfare Awards contestmay look similar to last year’s, but its objectives will be different the circumstances will have changed andit will involve different people.
The main characteristics of a Project are that:
1.It is an instrument of change.2.It has a clearly identifiable start and finish.3.It has a specific aim4.It results in something being delivered5.It is unique6.It is the responsibility of a single person or body7.It involves cost, resources and time8.It uses a wide variety of resources and skills.
Another way of looking at a Project is that:
1.It has a start and a finish2.It has a time frame for completion3.It has a unique one timeness4.It has an involvement of several people on a ad-hoc basis.5.It has a limited set of resources.