Project Management:

An Introduction
What is a “Project?”

• A project is an activity that :

• is temporary having a start and end date
• is unique
• brings about change
• has unknown elements, which therefore create risk

Characteristics of “Project”

Temporary. This key characteristic means that every project has a finite start and a finite
end. The start is the time when the project is initiated and its concept is developed. The end is
reached when all objectives of the project have been met (or unmet if it’s obvious that the project
cannot be completed – then it’s terminated).
Unique Deliverable(s). Any project aims to produce some deliverable(s) which can be a
product, service, or some another result. Deliverables should address a problem or need
analyzed before project start.
Progressive Elaboration. With the progress of a project, continuous investigation and
improvement become available, and all this allows producing more accurate and
comprehensive plans. This key characteristic means that the successive iterations of planning
processes result in developing more effective solutions to progress and develop projects.
The Three Project Constraints:
SCOPE
TIME
COST
Project Triangle
What is “Project Management?”
Project management involves planning and organization of a company's resources to move a
specific task, event, or duty towards completion. 
Project management process includes the following stages: initiation, planning, execution,
monitoring, and closing. 
What are the stages of project management?
The following core components form part of project management:

Initiating: The goal for this phase is to define the project.

Planning: This phase includes developing a roadmap for everyone to follow.
Executing & Monitoring: In this stage, the project team is built and deliverables are created.
Project managers will monitor and measure project performance to ensure it stays on track.
Closing: The project is completed, a post mortem is held, and the project is transferred to
another team who will maintain it.
Project management core components
The following core components form part of project management:
Defining why the project is necessary or important.
Estimating how long it will take to complete and specifying the quality of deliverables. Also,
listing what the project requires and what resources to use.
Justifying the investment by preparing a business case.
Securing funding.
Getting all the relevant people to agree to the project.
Developing a management plan for the project.
Leading and motivating all team members.
Managing any project changes, issues, or risks.
Tracking the project’s progress against the original plan.
Making sure the project is within budget.
Liaising with stakeholders and the project organization.
Why is project management important?
Project managers will help your organization:
Have a more predictable project planning and execution process
Adhere to project budgets, schedules, and scope guidelines
Resolve project roadblocks and escalate issues quicker and easier
Identify and terminate projects that do not have relevant business value
Become more efficient
Improve collaboration across and within teams
Identify and plan for risks

Measurements of Project Success

Within specifications
Within allotted time period
Within the budgeted costs
Accepted by the customer/user
Minimal and mutual scope changes
Project Manager’s Role
Responsible for coordinating and integrating activities across multiple and functional lines
Understand operations of line organizations
Familiar with technology
Master if in R&D activities
Strong communication skills
Strong interpersonal skills
Ability to
balance technical and managerial functions;
overcome organizational constraints;
cope with and survive risks

Ten Specific Skills

Team Building
Leadership
Conflict Resolution
Technical Expertise
Planning
Project Managers Manage
Engineering
Procurement
Construction
Finance
Cost engineering
Schedule
Environmental considerations
Regulatory requirements and law
Inflation & cost escalations
Labor and client relations

Project Manager’s Responsibilities

Planning agent
Overall and summary
NOT detailed planning
Functional or line managers
Resolve conflicts
Make tradeoffs

A successful Project Manager must simultaneously manage the four basic elements of a project:
resources, time, money, and most importantly, scope.
All these elements are interrelated. Each must be managed effectively. All must be managed
together if the project is to be a success.

Common project terms