EFFECTIVE PROJECT

MANAGEMENT
AND
NEW PRODUCT LAUNCH

A D E B AYO A JAYI, P M P ®, C SSB B ™, P SM ®

S E N I O R P ROJ EC T M A NAG E R
 ABOUT Adebayo
Adebayo's passion in life is simple “To help you achieve all round
excellence in life using proven principles”. He is a personal
excellence coach with practical results.
He has been on this journey for more than 10years. Graduating
with a distinction (MSc) in oil and gas engineering from the
prestigious Robert Gordon university Scotland UK after bagging a
1st class degree in chemical engineering from covenant university
while he was the best graduating student in the department.
Adebayo is your go to person for sustainable learning.
He has spoken on various platforms, and he has also co-authored
four books (God’s word for your academics, success handbook,
renaissance man and learning boost) and authored a book called
mental illumination.
 ABOUT Adebayo
As a Social Entrepreneur, he is the Team lead of Success Within International, an
organization with the mandate to raise people of outstanding success for global
relevance.
He is a Certified Project Manager with practical experience managing projects in more
than 15 countries and across two continents.
He is also the CEO of PMP-Hub, a project management learning institute. He is
currently working as Senior Manager, Projects-PMO in a Consumer Product goods
company based in North America. He is responsible for full deployment of multi-
million dollars growth and enterprise projects.
He is one of the pioneer Nigerian members of Nova Talent. Nova talent a global by-
invitation-only-top-talent network, that connects high potential individuals amongst
themselves and with the best professional opportunities.
He was recently accepted to join the Advisor council of Harvard Business Review.
He is married to his beautiful friend of many years, Kate and has an adorable son,
Nathan.
 Contents of Presentation

Project Project Project

Project Project
Management Management Management New Product
Introduction Initiation Development
Process Process Knowledge Introduction
Context Life Cycle
Groups Groups Areas
Introduction

Project management is the application

of knowledge, skills, tools, and
techniques to project activities to meet
A project is a temporary endeavor
the project requirements. Project
undertaken to create a unique product,
management is accomplished through
service, or result.
the appropriate application and
integration of the project management
processes identified for the project
 Project Initiation Context
Organizational leaders initiate projects in response to factors acting upon their organizations.
There are four fundamental categories for these factors, which illustrate the context of a project;

Implement or change Create, improve, or fix

Meet regulatory, legal, Satisfy stakeholder
business or products, processes, or
or social requirements requests or needs
technological strategies services.
 Project Development Life Cycle
Project life cycles can be predictive or adaptive, within a project life cycle, there are
generally one or more phases that are associated with the development of the
product, service, or result.
Predictive life cycle (Waterfall): the project scope, time, and cost are determined in the
early phases of the life.
Lifecycle
Adaptive life cycles :The detailed scope is defined and approved before the start of an
iteration. Adaptive life cycles are also referred to as agile or change-driven life cycles
Predictive
Adaptive Hybrid
(Waterfall) Iterative life cycle: project scope is generally determined early in the project life cycle, but
time and cost estimates are routinely modified.

Iterative Incremental life cycle deliverable is produced through a series of iterations that
successively add functionality within a predetermined time frame and it’s considered
complete only after the final
Iteration.
Incremental
Hybrid life cycle is a combination of a predictive and an adaptive life cycle.
Project Management Process Groups
Project management can be divided into five phases. First, stakeholders initiate the
project, and then define and plan it. Next, the team executes the project and monitors
its performance. Finally, once the project is completed, it must be closed out.
Project Management Process Groups
Phase 1: Project Initiation
The goal of project initiation is to broadly define the project.
This process usually begins with a business case or project
charter. If research or feasibility testing is necessary, you
should complete it during this phase.
Important stakeholders will do their due diligence to help
decide if the project is a “go.” If it is given the green light, you
will need to create a project charter or a project initiation
document (PID) that outlines the purpose and requirements of
the project. It should include business needs, stakeholders, and
the business case.
Phase 2: Project Planning
The planning phase is key to successful project management
and focuses on developing a roadmap for the team to follow.
During the planning phase, project managers should organize
their teams, set up collaborative resources, and set goals.
The most popular method for setting goals is S.M.A.R.T.
Phase 3: Project Execution
During the project execution phase, the team develops and completes deliverables. This phase
begins with a kick-off meeting, is marked by the onset of status reports and updates, and
transitions into performance and monitoring as the project progresses.

PM
Execute directs
project and Task
manage manages assignme Update
Develop ment project nts are project
team plans execution executed schedule

Assign Procurement Set up Status Modify

resources management if tracking meetings project
needed systems plans as
needed
Phase 4: Project Performance and Monitoring
Project performance and monitoring ensures that project results align with the management plan. Project managers use key
performance indicators (KPIs) to determine if the project is on track. We’ve outlined the most common KPIs for performance
tracking below:

Project Objectives: Measuring if a project is on schedule and budget is an

indication if the project will meet stakeholder objectives.

Quality Deliverables: This determines if specific task deliverables are being met.

Effort and Cost Tracking: PMs will account for the effort and cost of resources to
see if the budget is on track. This type of tracking informs if a project will meet its
completion date based on current performance.

Project Performance: This monitors changes in the project. It takes into

consideration the amount and types of issues that arise and how quickly they are
addressed. These can occur from unforeseen hurdles and scope changes.
Phase 5: Project Close
Once a project is complete, the team must formally close it. Project managers generally hold a postmortem meeting to evaluate
successes and failures. Project close helps a team identify things that went well and areas for improvement.

Once the project is complete, PMs still have a few tasks to complete. They will need to create a project punch list of things that didn’t
get accomplished during the project and work with team members to complete them. Perform a final project budget and prepare a
final project report. Finally, they will need to collect all project documents and deliverables and store them in a single place.
Project Management Lifecycle-Interplay
Project Management Knowledge Areas
Project
Project Scope Project Time Project Cost
Integration
Management Management Management
Management

Project Project
Project Quality Project Risk
Resource Communication
Management Management
Management Management

Project Project
procurement stakeholder
Management Management
New Product Introduction
Product-Market Fit
• Conducting customer discovery
• Identifying product-market fit
• Analyzing Porter’s five forces
Defining MVP
• Mapping the user journey
• Defining success metrics
• Prioritizing functionalities
Building and Testing Prototype
• Prototype Vs MVP
• Running usability tests