ASSIGNMENT – 1

ETB 4262
PROJECT MANAGEMENT

S.Prusoth
EGT/16/512
Construction and Building Services Technology
Faculty of technology
University of Sri Jeyawardenapura
17/06/2020
1. Mention the project definition and state the three characteristics which implies from that
definition?
 A project is a temporary initiative undertaken to create a unique product, service or result.

 Three characteristics of project.

 Time: The schedule for the project to reach completion.

 Scope (Goal + Work): The tasks required to fulfill the project’s goals
 Cost The financial constraints of a project, also known as the project budget.

2. State three main characteristics of projects?

 Has an established objective.
 Has a defined life span with a beginning and an end.
 The work required in a project should be performed within a specific time period.
 Typically involve various departments in reaching the output.
 Unlike day-to-day work within a functional department, such as marketing or accounting,
project work is sometimes interdisciplinary.
 Involves doing something never been done before.
 Has specific cost, and performance requirements.
 A project has constraints that are not independent; rather they interact and require trade-offs
of one for the other.
 Resources are used.

3. How does projects differ from day to day normal operations of a company?
 Projects are unique and temporary, while operations are ongoing and permanent with a repetitive
output.
 Projects have a fixed budget, while operations have to earn a profit to run the business.
 Projects are executed to start a new business objective and terminated when it is achieved, while
operational work does not produce anything new and is ongoing.
 Projects create a unique product, service, or result, while operations produce the same product, aim
to earn a profit and keep the system running.
 There are more risks in projects as they are usually done for the first time, while in operations there
are fewer risks as they are repeated many times.
 Projects are performance intensive while operations are efficiency intensive.
 Projects are managed through project management and operations require business process
management.

4. What are the main types of benefits of an organization receive after executing projects?
 Financial Benefits
 Operational Benefits
 Customer related benefits
 Nonprofit benefits
5. Mention four key reasons for executing projects by a company?
 Market Need
This is when your company wants to develop a product to address their clients’ needs or to
keep up with the competition.
 Business Need.
During the financial crisis, for example, many companies had to execute projects to reduce
costs optimize processes or increase revenues by expanding the customer base to stay in
business.
 Technological advancement.
Technology may advance to the point where your business can be automated or your products
need to change.
 Customer Request.
 Legal Requirements.
 Social Needs.
 Ecological Considerations.

6. Just after receiving a project to the Project manager from the top management of the
company, what would be the duty of the Project Manager in terms project management
triple constraints (within the early stage)?
If a manager is managing a project, then he is working with the Triple Constraint. Triple constraints is a
model of the constraints inherent in managing a project. Those constraints are time, scope, cost. The Triple
Constraint states that the success of the project is impacted by its budget, deadlines and features. As a
manager of that project, you can trade between these three constraints. The Triple Constraint is an important
part of any successful project, it doesn’t determine success.

 Cost (budget)
 The financial commitment of the project is dependent on several variables. There are the
resources involved, from materials to people, which include labor costs. There are other
outside forces that can impact a project, which must be considered in the cost of the work.
Cost processes include cost estimating to figure out the needed financial commitment for all
resources necessary to complete the job. Estimating a project’s time and effort also forms the
basis for your project budget. Here are a few costs to consider when formulating a project
budget:
 Resource costs, based on estimated hours
 Materials
 Equipment
 Scope
 As mentioned, project scope deals with the specific requirements or tasks necessary to
complete the project. Scope is important to manage on any project. A detailed scope
document provides the perfect foundation for understanding your project’s time constraint
because you can use it to build out a project estimate. Be sure to bring your team into the
discussion and look beyond task hours. The time you spend in meetings or holding a
stakeholder’s hand through the process counts too.
 Time (schedule)
 At its basic, the schedule is the estimated amount of time allotted to complete the project, or
producing the deliverable. Usually, this is figured out by first noting all the tasks necessary
to move from the start to the finish of the project. A detailed scope document provides the
perfect foundation for understanding your project’s time constraint because you can use it to
 build out a project estimate. Be sure to bring your team into the discussion and look beyond
task hours. The time you spend in meetings or holding a stakeholder’s hand through the
process counts too.

7. State the three main key areas to be improved by the Project Manager?
 Technical Skills and Knowledge
 The number of technical skills a project manager brings to the table can elevate them
from average to expert in a heartbeat. As a PM, you will most likely be a jack-of-all-trades
with a specialty in one or two items. A good practice to have is: make sure you have at least
two unique and intersecting skills. PM triple constraints, Theoretical Framework, PM tools
and documents, Personal Organization, Task Management, Critical Thinking and Basic
Software are important things for a Project manager to be improve.
 Interpersonal (Soft) Skills
 Soft skills are personal attributes that allow project managers to build team morale,
motivate workers and manage conflict. Many successful project managers naturally possess
an array of valuable soft skills. And for those who feel as though they are lacking in the soft
skills department, there is good news. Project managers spend less time worrying about
factors like employee morale and motivation and, instead, can focus on planning, risk
management, project quality and completion. The following skills set the good managers
apart from the rest and can significantly influence how efficiently and successfully projects
are completed. Communication, Leadership, Negotiation, Adaptability, Diligence.
 Industry Experience
 Attending local and online events will allow you to learn best practices and stay abreast
of the latest project management trends. Consider joining professional associations, which
can be another way to meet and exchange knowledge with industry experts. And also
previous work experience help to do well in current project. He can correct his mistakes and
learn from it.

8. Name three types of technical skills and knowledge to be earned by the Project Manager?
 Critical Thinking.
 This is core to being able to make good decisions. You have to weigh up the pros and
cons of solutions to problems before choosing the right way forward.
 Personal Organization.
 A project manager is nothing if not a coordinator of multiple moving parts that typically
cross departmental divides; for this reason, a successful PM must be highly organized and
able to keep meticulous track of every aspect of every project.
 Task Management.
 It takes a special sort of skill to navigate task management in a way that informs and
guides different types of staff with different types of learning preferences.
 PM triple constraints.
 Theoretical Framework.
 PM tools and documents.
 Basic Software.
9. Mention two types of Interpersonal Skills to be gained by the Project Manager.?
 Communication.
 This skill is probably the most important. Project managers who are good communicators are
able to help teams understand the scope of their duties and solve problems as they arise. If a
project manager is not able to clearly communicate expectations, a project will be more
complicated than necessary from the very start. Project managers who are still developing
their communication skills can benefit from taking time each day to think about what their
teams need to know and then conversing with them about those subjects.
 Leadership.
 This is the ability to inspire, motivate and govern when necessary. Highly developed leaders
provide positive feedback and constructive criticism. They keep their cool in stressful
situations. They communicate the organization's vision clearly and succinctly, and they
provide opportunities for professional development while promoting a healthy, supportive
company culture. Project managers who want to refine their leadership skills can begin by
finding new ways to provide team members with regular feedback on their progress.
 Team Management.
 Project Manager also part of the team. He has to think like a team member, and always put
the team before his own needs. Sometimes that means taking flack for an employee’s
mistake, or going to bat when a report asks for a promotion or more compensation.
 Social Skills

10. Does it enough of being an expert in the relevant industry to become a good Project
Manager? Explain.
No,
There is no single attribute that makes someone a good project manager. Instead, a talented PM will have
many skill sets, including having a collaborative approach, managing timelines and budgets, improving
productivity, leadership and so many thinks. Not only be an expert can’t be a good PM. the project
management triple constraints of the relevant project must be realistic. Therefore, it is the duty of the
project manager to assess whether the project management triple constraints are realistic or not. So a project
manager must be contain all of the skills for manage a project otherwise it would face difficulties for finish
it properly. But be an expert also appreciated with other PM skills.

References
 https://pmstudycircle.com/2012/03/what-are-the-project-and-operation-difference-between-them/
 https://www.coursehero.com/file/p7s9lka/2-A-project-has-a-defined-life-span-with-a-beginning-and-an-
end-The-work/
 https://www.teamgantt.com/blog/triple-constraint-project-management
 https://www.wrike.com/blog/top-3-essential-technical-project-manager-skills/
 A Guide to the Project Management Body of Knowledge –(PMBOK Guide –4thedition)
 Lecture Slides & videos