You are on page 1of 28

Project Management An Overview

JIMS, Kalkaji C-702 Ankur Wahal

About the Instructor
Ankur Wahal is working as an Assistant Vice President with SBI Capital Markets Ltd. in Projects and Structured Finance He has more than 8 years of Professional experience in Project and Structured Finance, Mergers and Acquisitions, Private Equity Syndication and Corporate Finance Advisory. Education: Double MBAs from SDA Bocconi School of Management and FMS, Delhi LL.B.: Campus Law Centre, Delhi University B.Com (Hons) Delhi University

Agenda The Project and the Project Management The Project life-cycle The role of the Project Manager (PM) The project Planning Socio-economic Influence on Project .

What’s a Project How can you define a Project? What are the key elements of a Project? What’s the relation with the organization? What’s the difference between a Project and a Process? .

” APM (1992) . conducted by people to meet established goals within parameters of costs.What’s a Project “A project is a unique venture with a beginning and an end. schedule and quality. All projects evolve through similar ‘life-cycle’ sequence during which there should be recognised start and finish points. cost and quality (performance) goals.” Buchanan and Boddy (1992) “The simplest form of a project is a discrete undertaking with defined objectives often including time.

” Field and Keller (2002) “A project has dedicated resources. It is a useful way of organizing work. a unique (and therefore risky) venture having a budget and a schedule. it is one-off task and has objectives. a single point of responsibility. clear boundaries across which resources and deliverables move.” Gray (1994) .What’s a Project “A project is an organized work towards a pre-defined goal or objective that requires resources and effort. limited duration. Projects don’t arise without deliberate intervention.

normally with a fixed budget and with a fixed time period.” Graham (1985) . Projects are generally associated with products or procedures that are being done for the first time or with known procedures that are being altered.What’s a Project “A project is a set of people and other resources temporarily assembled to reach a specific objective.

. etc.developed by team. defined as the goal of the group of activities Constraint (time related) Introduce innovation / something new for the company …consuming finite resources… ..) Teamwork (competencies) .Project Key Elements A project is a non repetitive activity… …devoted to achieving a specific goal… …taking place in a limited time… A Project has a specific objective. financial. equipment. Constraint (resources: man-hours.

.

Examples of Projects Planning a wedding Designing and implementing a computer system Hosting a holiday party Designing and producing a brochure Executing an environmental clean-up of a contaminated site Holding a high school reunion Performing a series of surgeries on an accident victim .

time and cost constraints .Project Management The application of knowledge. tools and techniques to project activities to meet project requirements Organizing and managing resources so the project is completed within defined scope. skills. quality.

the rate of change will exceed the rate of progress Project teams detest progress reporting because it manifests their lack of progress . When things appear to be going better. you have overlooked something If project content is allowed to change freely.Laws of Project Management Projects progress quickly until they are 90% complete. Then they remain at 90% complete forever When things are going well. they will. something will go wrong. When things just can’t get worse.

.

How it should go Requirements Analysis Design Implementation System Testing Delivery and Installation .

How it often goes Requirements Analysis D E L A Y Vaporware .

Peanuts .

Difference between a Project and a Process A process: Group of activities. from an input • Standard sequence (procedure) . that starts from an input and achieves a predefined output Key elements • o innovation • Routine job • Fixed output. performed in a sequence or in parallel.

A large view of projects and processes .

Key Features of Project Management • Define the goal to be achieved • Plan how to achieve the goal • Define the resources needed to do the work • Fix the check-points in order to control the risks • Control the status of the project and take the necessary actions in order to fulfill the main goal • Evaluate the difference between the output and the goal .

Factors in Project Success .

Project Technical Life Cycle .

.

.

Managerial Implications The early phases cost less then the later phases The amount of cost decided in the early phases is 80 90% of the entire project budget Cost of changes increases every time you pass in the next phase .

Why people often do not anticipate constraints in projects? Hurry / worry to waste time Underestimate of time and costs for future changes Difficulties related to uncertainty Initial stages are considered less critical (limited use of resources) Lack of communication among organizational functions .

Important Points • Importance of the decisions in the first phases of the project • Importance of keeping in mind the whole project every time a decision is made (impact on the later phases) • Everyone has to contribute to every decision made .

The Role of a Project Manager • The PM is the leader of the team • The PM should have these competencies: – Technical / specialized competencies – Managerial competencies – “Public relations”/ egotiation competencies .

also in term of commitments • Evaluates the execution of the project in respect to the plan and takes recovery actions • Updates the top management/stakeholders (feedback) about the deployment of the project • Guarantees the quality of the results .The Role of a Project Manager • Coordinates and manages the project • Defines the plan of the activities • Manages the resources.