Project Planning Management

Quiz # 02

FA18-EEE-009
Waris Shah

Sec 8A

Describe the difference between projects and operations with suitable examples. What
are the skills needed for a project manager to run a project?

Projects And Operations:

Projects and operations are both parts of the product life cycle.
Project:
Any software is developed in various phases. These are called software development life
cycle phases. They start from Requirement gathering and include designing, programming
(coding), integration, testing and maintenance. All these procedures carried out in a specified
time frame, for creation of a product are collectively called a Project. A project is an
Endeavor that is temporary in nature, that is undertaken to produce a unique product.
Operations:
After product is made it is then brought out to market. The processes of creating product
again and again using same techniques that were used earlier, for purpose of distributing to
users and (making profit in most cases) are a part of Operations. Operations are ongoing
execution of activities which occur after product is made to produce same result or a
repetitive service. Production, manufacturing, and accounting are examples of operations.
 Categories Project Operation
Definition A project is an endeavor that is Operations are ongoing execution of
temporary in nature, that is activities which occur after product is
undertaken to produce a unique made to produce same result or a
product. repetitive service.

Duration It is temporary as it does not exist It is temporary as it does not exist

after product is made. This is after product is made. This is because
because phase before a product is phase before a product is made
made includes a project. includes a project.

The budget is Defined for The budget is not defined for

Budget Projects. The stake holders and
management, who wish to get a
product made, specify a budget
for it.
Product Unique product is created. The
project is undertaken for creation
of a unique product.
Risk It has more risk as it is done for
first time. There is a risk of
failure attached because specified
thing has never been made
before.
Operations as the earning needs to be
done to keep operations alive. This is
because if there is a great response
for or enough revenue and profit
from product, more such products
can be made.
Same product is produced to keep
system running. More numbers of the
existing product are made for end-
users.
It has less risk as such products have
already been made before and it is
only process of creating them in
greater numbers.

Skills needed for a project manager :

1. Effective Communication
From project kick-offs to stakeholder meetings, project managers are constantly
communicating. In fact, according to Cesar Abeid, host of the Project Management for the
Masses Podcast, project managers spend a whopping 90 percent of their time communicating
in some way. As such, project managers must have excellent communication skills in order to
successfully lead projects to completion.
2. Negotiation
From managing resources, to engaging suppliers, to dealing with team conflict, leading a
project means constantly being involved in negotiations. An effective project manager is
often a skillful negotiator with the ability to keep involved parties content and working
toward a unified goal at all
3. Scheduling and Time Management
Naturally, scheduling is a core facet of the project management function. However, if you’re
adept at juggling multiple schedules and can anticipate roadblocks before they occur, you’ll
increase your chances of delivering successful projects.
4. Leadership
When managing a team or project, it’s crucial to have strong leadership skills. By effectively
coaching, guiding, and motivating your co-workers, you can help move a project forward and
deliver a positive outcome. Strong leaders also foster a productive work environment by
communicating regularly with their teams and helping their employees develop important
project management skills themselves.
5. Technical Expertise
Successful project managers must not only possess the aforementioned soft skills but also
have the technical know-how to move projects toward completion. PMs who can “speak the
language” of their organization’s subject matter experts will be able to communicate more
effectively with their teams and have a better understanding of a project’s inherent risks and
potential roadblocks.
6. Risk Management
Risk management, which involves identifying and planning for potential risks, is a critical
competency for project managers. The most productive PMs are able to identify risks at the
outset of a project and develop proper mitigation plans in the event that the risk does, in fact,
occur.
7. Critical Thinking and Problem Solving
While critical thinking is a skill all professionals could benefit from learning, it is particularly
useful in the project management discipline. Rather than being reactive, the best project
managers are proactive and use their critical thinking skills to navigate through tricky or
ambiguous projects.