Business Project Management

Deepak Dhiwar Notes-TY BBA 22-23

Q-1 Describe Business Project Management. Explain opportunities in the Project Management Field.

A-1 Introduction- The word Project denotes a planned work, which entails one-time activities, which are
Temporary in nature.

A Project is a short-term and singular task that varies in length. It’s done to resolve a particular problem
for an organization, which may be to design a product or to revise a process.

A project is a group of unique, interrelated activities that are planned and executed in a certain
sequence to create a unique product or service, within a specific time frame, budget and the client’s
specifications.

Initiation of Project begins with identifying a necessity in an organization. It is a single use project with a
defined start and end, limited budget, time, resources and team designed for its specific purpose.

In addition to customers, product and service end-users and information technology. Project team
comprises representatives from other departments like business analyst, trainers and the project
sponsor.

According to F.L. Harrison, “A Project can be defined as a non-repetitive, one-off undertaking, normally
with discrete time, financial and technical performance goal.

Project Management: It is the ability to effectively handle all aspects of a project to deliver all necessary
output on time and within budget.

These things are established during the initiation stage and are understood and accepted by all the
stakeholders and the team members before the Project begins.

Project Managers should follow processes that can be audited and serve as Templates for the project.

Definition of Project Management: Project management is the discipline of organizing and managing
resources in such a way that these resources deliver all the work required to complete a project within
defined scope, time, and cost constraints.

Opportunities in the Project Management Field: Opportunity is the hot topic in project-management,
especially when discussing Risk. Both opportunity management and risk management are complicated,
and they without question interrelated.

There are 3 types of opportunities.

1. Scoping Choices: The primary meaning of opportunity related to project involves the value
anticipated from the project deliverable. Initial assumption of results and costs create an
expectation of value that exceeds the project’s cost.
The opportunity implied by this difference may be modest and realistic or widely optimistic. The
greater the whole project opportunity, in general, the more likely it will be that the benefits will
be inflated, the cost underestimated, or both. Projects that are big opportunities generally
represent very high overall risk.
 2. Planning Choices: initial bottom-up projects planned rarely correspond to expected timing, cost
or other objectives. To better meet the highest priorities and constraints for the project, project
leaders make trade-offs and adjustments to the project plans, seeking a realistic approach to the
work that confirms as much as possible to what sponsors, management, and stakeholders have
requested. Opportunities for compressing schedules, conserving resources, and optimizing plans
generally will result in plausible plans, but often plans with additional (an/or more probable)
failure modes and risks.
3. Uncertain Events Having Potential Benefits: The final sort of opportunity encountered in
project planning involves aspects of the work that are inherently uncertain. Some work will be
unknown to the teams, so estimates cannot be precise. A range of outcomes, some beneficials
to the project plans and some adverse, may be possible. For purchase services or items, prices
may vary unpredictably over time, and there are many other project parameters that may be
difficult to estimate with precision. Adverse variances can be assessed using standard risk
measures of losses and likelihood. Similarly, potential savings or other beneficial outcomes that
could occur may be similarly assessed based on probability and potential benefits.

Q-2 Discuss the Business Project Management Process.

A-2 A project is a short term and a singular task that varies in length. It's done to resolve a particular
problem of an organization, which may be to design A product or revise the process.

Project management is the ability to effectively handle all aspects of a project to deliver all necessary
output on time and within budget.

Business Project Management is the management of internal businesses projects undertaken to further
accompany strategies or objectives. The fundamentals are the same, but some aspects of business
project management can be different.

a. There's no external client. The end customer is the business.

b. There is no revenue. The project will have a cost but no revenue, as it's not for an external party.
c. The project returns are measured differently; the business project does not have a profit margin
(sale value minus cost). Other methods are used for assessing benefits such as the internal rate
of return.

Business Project Management Process

 1.1

1. Initial Process: This is the first stage of a project after its conceptualization, when it gets recognitions
as a new project. An existing project, moving from one phase to the next one is also said to be in the
initiating process.

2. Planning process: planning forms one of the most important processes of project management. It
involves a number of new activities. Planning process may be subdivided into two sub processes.

a. Core Processes: The other processes, which are largely interlinked and dependent upon each other.
They necessarily follow a specific pattern (order) in most of the projects.

b. Facilitating Processes: Facilitating processes are not ongoing processes. They are the other ones,
which are performed as per the necessity during the project planning phase.

3. Implementation Process: The project takes shape during the implementation phase. This phase
involves the construction of the actual project result. Programmers are occupied with encoding,
designers are involved in developing graphic material, contractors are building, and the actual
reorganization takes place. It is during this phase that the project becomes visible to outsiders, to whom
it may appear that the project has just begun. The implementation phase is the doing phase, and it is
important to maintain the momentum.

For Example: Tests may be conducted to determine whether the web application does indeed support
Explorer 5 and Firefox 1.0 and higher. It may be determined whether the trim on the building has been
made according to the agreement, or whether the materials that were used were indeed those that had
been specified in the definition phase. This phase is complete when all of the requirements have been
met and when the result corresponds to the design.

4. Controlling Process: This process is an ongoing exercise of monitoring and controlling various
facets of a project. It facilitates measurements of project performance from time to time, with
review to check any deviations from the plan and set it right. Controlling process ensures
 curbing (if not eliminating totally) of time overruns, cost overruns, delays, etc. and also the
maintenance overall quality.
5. Closing Process: Once the project is completed and it has achieved the cherished goals/
objectives, it needs to be properly closed. Closure of a project is also considered an important
activity of a project cycle. It involves handling over of the project along with the necessary
documents, to the clients and his satisfaction and acceptance of the same.
Closing process may be divided into two viz, administrative closure and contract closure.
Administrative closure involves generation, collection and conveyance of all the necessary
information pertaining to the project to mark its formal completion.
Contract closure involves finance settlement of the contract including the processes of sorting
out open issues, if any.

Q-3 Explain Project Management Skills.

A-3 When small business owners here the phrase project management, they are quick to believe
that they are about to be swamped with more work.
You are responsible to your clients and employees for how you spend your time as a small
business owner.
Although the project management industry promotes working more, it also promotes working
smarter.
Doing projects on time and getting them right the first time can mean delivering on a deadline.
Streamlining the proofing process, cutting down on the back and forth and completing the work
within budget are all possible with this approach.
You can apply project management skills in your small business and get higher employee
productivity and lower costs even if you did not use specific project management practices first
Project management begins with planning first term while small business owners need to map
out their task in advance to save money got my time and resources in the long run.
1. Focus on Communication: A recent study found that one out of five projects do not meet
their goals due to ineffective communications.
Investigate the most effective ways to talk to your clients and employees.
A daily e-mail or morning meetings to discuss their task for the day may be necessary.
The paper checklists might be passed around, or the entire contents of the kitchen's
whiteboard could be listed
If you've identified a successful communications strategy, you should add it to your project
management process.

2. Finding the right Project Management Tools: For every team, project management appears
to look different.

For a coffee shop within personal staff to have a daily checklist to give to each team
member.

On the other hand, a design firm with remote contractors may need a cloud-based resource.
 Project management software is moving towards digital tools and your employees may
prefer to look at schedules or inventory without calling or coming into the office.
Some project management software has three trials, which allows you to see what's best for
your team.
Small teams can utilize the functionality of Trello and basecamp to share updates and assign
tasks via their smartphones.
Rather than spending money on the latest app, spend a few days testing out what your staff
needs.

3. Establish Firm Goals or Objectives: Even though this might seem basic, the keyboard here is
firm.

Put in place firms’ deadlines to reduce customers wait times and increase average order
size.
Ensure that your employees know what their end goals are and what they will expect to gain
when they have finished a project.

4. Set Yourself Up for Success with Small Wins: Be honest with yourself about what you can,
and you cannot do when making firm goals and objectives.
A project due in three months is more daunting to manage than one that is due in two
weeks,
Set realistic deadlines and winnable targets to improve your chances of succeeding.
The process of planning the project in its entirety could be a major success on its own.

5. Understand (and embrace) the Concept of MVP: To get a product of services out the door,
the minimum viable product (MVP) is the smallest amount of work that can be done.
Instead of polishing your business until it's perfect, implement the MVP strategy and get
your product on the market as soon as possible.
That involves shipping your product to consumers for testing and asking for feedback even
when the prototype is not partially done.
Suppose you are a web designer who just spent a month working nonstop on a single
website only to have the clients come back and say they want the project wholly restarted.
In that case, you could have simply sent them a minimally viable product version of the
website.

6. Get Things on Paper: have you ever had a chat with an employee or a client and then
discovered that they used words that did not match what they meant?
Project management, the most excellent resource you have is a paper trail. You can alter the
order of your work or reassign someone else's responsibilities, record it.
You may even encourage an employee to share their notes after a meeting, which they can
record everything down on.
If you create a project management culture by making sure everyone leaves a trail of
communication, decisions, expectations and project requirements, you will keep everyone
accountable for their work.
 You'll never wonder, when did this happen? Or have to explain to a disgruntled client that
work was not delivered on time.
You'll be able to follow the evolution of the project and explain the changes made.
7. Examine your current productivity: If a project keeps getting delayed, it's time to discover
the project's weakest link.
a. If the person's placing an order for supplies promptly?
b. Do you have employees doing work that may not be well suited for?
c. Is there any way to automate processes that require manual labor?

Apps like If This Then That (IFTTT) And other apps help with daily digital tasks and boost your team's
productivity by synchronizing and organizing new files, cataloging new emails and sending out reminders
regularly.

8. Choose the Right People for the Right Jobs: it's crucial to remember that every member of a
small team is a project manager.
Meetings, messages and projects must all be completed promptly.
Everyone must pursue their personal goals as well as the overall deadline.
It might be a good idea to assign the person who is always first to the office in charge of
keeping the project board up to date.
You should designate a neutrally charismatic person and have a gift for building rapport with
customers to make sure that your team is on the same page.
Although you may have the project manager position, you should assign workers tasks to
complete the work efficiently.
9. Keep Clean and Accessible Schedules: Set deadlines, assigned tasks and keep a calendar
where everyone can see them.
A whiteboard in the office, a Google Calendar, or trailer board, or an app like when I work
could all be utilized effectively to schedule things.
Everyone should be clear on their own goals, the progress of others and their assignments.

10. Ask for Feedback: do you know that the most influential leaders are the ones who seek
feedback on a more frequent basis?
Allowing your customers and employees to provide their thoughts about your work is not a
sign of your failure but a strategic way to learn what is and isn't working.
Set time intervals for asking employees about their job and implementing any new systems
or procedures.
Employees are unproductive when you use traditional project management techniques.
Your staff may perform better when there is a more extended planning period and when
they do not need to be checked each day.

You will not know unless you ask

11. Boost Morale: The goal of good project management is to produce better work, not more of
it. People may not concur. Also resist changes may wish to continue their former work
patterns.
to reward your team and inspire them to better, use project management to make their
lives easier.
 You can report your team members for coming to the meeting on time by thanking them or
plan a lunch out to celebrate the small wins.
12. Set Realistic Expectation: Staying on budget, clear objectives, increased employee
productivity and other positive results are achieved by maintaining realistic expectations.
A skilled project manager understands that one cannot prepare their team for success
unless they provide accurate expectations.

If customers don't know what to expect from you, you can't deliver excellent customer
service.

If clients contact you for more information, let them know when you plan to get back to
them.
If a flooring project takes weeks to order new materials, consider that when making your
plan and don't ask for something impossible.

Always under promise and over deliver.

13. Emphasize Accountability: When everyone in a project performs their role and delivers
their work on time project management succeeds.

When you distribute the tasks among your staff it becomes apparent very quickly that
everyone must be responsible for their share of responsibility.

Being accountable does not mean being a snitch and reporting your coworkers for failing to
make progress.

14. Address Problem Early: Everyone dislikes conflicts, and it is always unpleasant to deliver
upsetting news.

While it is preferable to fix issues early, doing so is always better than putting them off.
To help you meet your deadlines, adjust your schedule if it is too ambitious.

make sure to bring up any information about replacing a sewer line on the job site with the
client and adjust the budget immediately.

It's essential to cultivate a culture that favors finding solutions over avoiding issues.
Adopt an open-door policy so that employees are free to report any problems or offer
suggestions that you may have missed.

Begin every meeting by issues.

Problems will be spotted and resolved by identifying and assigning responsibilities for
informing the clients, scheduling reassignment and notifying others for progress.
 Deepak Dhiwar Notes-TY BBA 22-23
Unit 2- Planning and Implementing of Project

Q-1 Explain the Business Project Management Plan. Describe the various steps involved in
developing a Business Project Management Plan.

A-1 Introduction:
Business Project Management Plan: Developing project management plan
is the process of defining, preparing, and coordinating on subsidiary plans and integrating
them into a comprehensive project management plan.
The key benefit of this process is a central document that defines the basis of all project
work.
The Business Project Management Plan is the most important Document for a Project
Manager (PM).

It's up to you to implement a strategy, a plan, a model, a design, a specification, a standard,

an algorithm, or a policy.

The implementation plan shows you the exact steps you must take. Because of this, a course
of action is the detailed step you need to take to carry out your implementation endeavors.

An implementation plan is a project management tool that breaks down the

implementation process into manageable steps and organizes teams and resources needed
to complete a company or project strategic plan.

Strategic planning involves considering the bigger picture and how it affects the
organization, and it is done by allocating resources and assigning responsibilities to realize
the company’s strategy.
Developing a Business Project Management Plan

Various steps involved in developing a Business Project Management Plan.

1. Identifying all Stakeholders:

Many of your projects’ stakeholders will be involved in only
some of the project’s details.
Project stakeholders include the project's customers, and users, business leaders and
the staff working on the project.
In some cases, stakeholders may be external organizations or individuals from the
community affected by the project.
2. Define Roles and Responsibility:
To correctly manage your project, you need to ensure
you have all the project management skills and competencies.
Once you have your list of stakeholders, you can assign them responsibilities and define
their roles.
a. It is vital to remember that the role is not a person.
b. In some cases, a single person may fill multiple roles, such as having a designated
emergency contact, which adds a few additional work hours to a person's schedule.
c. The usual role includes for different projects, you may find that project team
member roles will vary but it's essential to assign vendor relations and customer
relation roles.

3. Hold a Kickoff Meeting:

The kickoff meeting offers the opportunity to create a shared
vision, introduce team members and foster working relationships among them.

It would help if you planned to include a discussion on the project's scope, budget,
timeline and goals in your meeting agenda because no specific details have been
decided at this point in the project.
When this happens, the process is used to explain the roles in the project and the plan
for project communication.
The kickoff meeting sets the tone for the working relationship among the project's
stakeholders and influences how they work together.

4. Define Project Scope, Budget and Timeline:

The official start date should be followed by
defining three main items: the project scope, the budget and the timeline.
To fully explain each of these things would take up an entire article on its own, so we'll
just give brief descriptions here.
a. Scope-the project scope defines what we're doing (and not doing).
What are the goals of the project, given the wishes of the customers and the visions
laid out by the team?
 b. Budget: What is the expected budget of the project, considering the scope and
resources required to meet the project objectives.
c. Timeline: It lists the stages of your project and duration you expect them to take.

5. Set and Prioritize Goals:

Once your team understands the projects objectives and has
identified the phases for achieving those goals,
a. Break the broad goals of your project into individual goals and tasks,Prioritized tasks
according to significance and dependencies,
b. Establish a system to ensure remedial action if goals are not reached in good time

In consideration of your dreams, you may need to adjust your timeline.

6. Define deliverables:
Project management institute defines a deliverable as “any unique
and verifiable product, result, or capability to perform a service that is produced to
complete a process, phase or project.
In other words, a deliverable could be,
a. A Product
b. Result
c. Capability:
Project deliverables are of necessity in the project plan because the project's
objectives define them.

If the customer wants to provide the end users with a piece of software that enables
them to manage their content, like user-friendly document editor and training
materials to assist them in using the software, the deliverables will include that
aspect also.

7. Create a project schedule:

A project schedule documents the following:
a. to make a project schedule, divide the phases of your project into individual tasks
and activities, then determine their dependencies, sequence the activities, and
estimate the resources and time required for each job.
b. You may discover changes in your timelines, budgets and roles while you go through
this process.
c. It is a crucial component of the process of writing a simple project plan, as well as a
valuable part of the project planning process. You'll want to make these
adjustments before starting the project rather than later on.
8. Do a risk assessment:
The probability of something going wrong in a project is always
there and it is uncertain when it will happen click start. Next line to avoid a rude
surprise, it's crucial to recognize and mitigate project risk during the planning phase
rather than later
 Put together a meeting with your team or solicit their thoughts on the risk you should
consider.

Risks to consider include:

a. Project scope
b. Resources (personal, financial and physical)
c. project delays
d. Failure of technology or communication
You can't account for every potential risk, but you can avoid disaster by planning for
them.
9. Communicate the Project Plan:
It is essential to communicate your project plan to all
stakeholders, especially the team, once you have put it together.

Creating a project communication plan is something you may have done while making a
project schedule.

One of the most important things for project communication is setting clear channels
and expectations.

Make sure you're modeling the kind of communication you expect from all stakeholders
as a project manager.

Q-2 What do you mean by Identifying and Managing the Risk.

A-2 Introduction:
For the project to be successful, various risks associated with the
project need to be identified, measured, mitigated, and managed during the tenure of
the entire project.

Monitoring of project risk and their proper management is an important factor in the
stability and efficiency of the project during its entire lifecycle.

Risk management is an appropriate system in this regard that keeps in check the
possible problems that may hinder the smooth going and successful completion of a
project.

Project Risk: Are explained as the factors, which may pose a threat to the project, or
restrict the goals/ objectives/ deliverables offered by the project.

No project is free from potential risks; What matters is their effective management.

The exercise of Project Risk Management starts with the identification of potential risk
associated with a particular project, and extends further to their analysis, responses
 management planning, and monitoring/ control to safeguard the stated objectives of
the project.

First Step: Identifying Risks:

The process of risk management starts with the listing of all
conceivable risks which can influence the project.

Usually, in planning steps, a risk management team is created by the project manager
which includes the important team members and the stakeholders.

The brainstorming and different other methods of risk identifications are used by the
team to estimate the probable problems.

The team members are motivated to keep unthinking and produce the list of maximum
number of possible risks.
The Work Breakdown Structure (WBS) is a common method for identification of some
certain risks.
The task of Risk Identification is not completed just by involving the primary team of the
project, but it is required to get the information from the sponsors, customers, vendors,
contractors and different other stakeholders.

The significant stakeholders are officially interrogated and included in the project team.
The interrogation helps in getting the relevant options and the participation in team
ensures greater involvement towards the success of the project

“Attitude” Is an important element of realizing the risk involved in the project. Although
during the implementation phase,” can do” attitude is quite important, during risk
identification, the project manager needs to promote critical thinking.

1. Physical Risks: Building risks are the most common type of physical risk. Think fires or
explosions. To manage building risk, and the risk to employees, it is important that organizations
do the following:

● Make sure all employees know the exact street address of the building to give to a 911 operator
in case of emergency.
● Make sure all employees know the location of all exits.
● Install fire alarms and smoke detectors.
● Install a sprinkler system to provide additional protection to the physical plant, equipment,
documents and, of course, personnel.
● Inform all employees that in the event of an emergency their personal safety takes priority over
everything else. Employees should be instructed to leave the building and abandon all work-
associated documents, equipment and/or products.
 2. Hazardous Material Risk: Is present where spills or accidents are possible. The risk from
hazardous materials can include:

● Acid
● Gas
● Toxic fumes
● Toxic dust or filings
● Poisonous liquids or waste

3. Human Risks: Alcohol and drug abuse are major risks to personnel in the workforce. Employees
suffering from alcohol or drug abuse should be urged to seek treatment, counseling, and
rehabilitation if necessary. Some insurance policies may provide partial coverage for the cost of
treatment.

4. Technology Risks: A power outage is perhaps the most common technology risk. Auxiliary gas-
driven power generators are a reliable back-up system to provide electricity for lighting and
other functions. Manufacturing plants use several large auxiliary generators to keep a factory
operational until utility power is restored.

2. Step 2- Risk Assessment or Evaluate the Risk: Making a Risk Assessment: After the risks have been
identified, they must be prioritized in accordance with an assessment of their probability. Establish a
probability scale for the purposes of risk assessment.

Risk Assessment is necessary to determine the Size of the Danger.

For example, risks may:

1. Be very likely to occur

2. Have some chance of occurring
3. Have a small chance of occurring
4. Have very little chance of occurring

Other risks must be prioritized and managed in accordance with their likelihood of occurring. Actuarial
tables—statistical analysis of the probability of any risk occurring and the potential financial damage
ensuing from the occurrence of those risks—may be accessed online and can provide guidance in
prioritizing risk.

3. Risk Priority or Assessor Prioritize the Risks: risk must be prioritized and ranked.

There are different categories of risk within most risk management solutions and each risk category
corresponds to the degree of risk involved.

A possibility that may cause some trouble is rated less severe, while chances of total catastrophe are
rated as most powerful.
Organizational risk assessment is necessary to understand the full scope of the organization's risk
profile. Management may not be needed for a couple of small risks that face the business.

While many higher risk factors may need to be addressed, it only takes one of the highest rated risks to
demand immediate attention.

5. Fourth Step: Risk Response Planning or Manage the Risk: Every possible risk will be removed or
mitigated to the greatest extent possible. You connect with field experts to accomplish this.

To get things done in a manual environment, you need to meet with every stakeholder and
explain the situation to them.

It is a concern that their discussion is scattered across multiple documents, spreadsheets and
phone calls.

The Risk Management solution provides a mechanism for system notifications to be sent to all
stakeholders. We can discuss the risk and how to solve it without leaving the system.

Higher management can monitor the possible solutions and the operational successes that are
occurring within the system.

Instead, this solution allows all users to receive notifications via the risk management system, so
they no longer need to speak to each other to learn about progress.

6. Fifth Step: Monitor and Evaluate the Risk or Risk Response Control: Some Risks are impossible
to get rid of completely. Second line monitoring market and environmental risk are just one
example of the many risks that must be done regularly.

Manual control systems use vigilant workers. This professional must monitor all the risks.

A Risk Management System monitors the entire risk frame of the organization in a digital
environment. Next time if anything in their design changes, it's noticeable to everyone
immediately.

Computers also have the advantage of usually monitoring risks in comparison to people. Your
business can also ensure continuity by tracking risks at regular intervals.

Q-3 What is Feasibility Analysis? Also, explain the steps and types in the Feasibility Analysis.

Introduction:
The feasibility study- sometimes called a feasibility analysis or feasibility report-
is a way to evaluate whether or not the project plan could be successful.
It does so by answering two questions: 

1. Does our team have the required tools or resources to complete this project? 
2. Will there be a high enough return on investment to make the project worth
pursuing? 
Feasibility studies are important for projects that represent significant investments for your business.
Projects that also have a large potential impact on your presence in the market may also require a
feasibility study. 
As the project manager, you may not be directly responsible for driving the feasibility study, but it’s
important to know what these studies are. By understanding the different elements that go into a
feasibility study, you can better support the team driving the feasibility study and ensure the best
outcome for your project.

Type of Feasibility Studies:

1. Technical Feasibility: A technical feasibility study reviews the technical resources

available for your project.
This study determines if you have the right equipment, enough equipment, and the right
technical knowledge to complete your project objectives.
For example, if your project plan proposes creating 50,000 products per month, but you
can only produce 30,000 products per month in your factories, this project isn’t
technically feasible. 
2. Financial Feasibility: Financial feasibility describes whether or not your project is fiscally
viable. A financial feasibility report includes a cost/benefit analysis of the project. It also
forecasts an expected return on investment (ROI), as well as outlines any financial risks.
The goal at the end of the financial feasibility study is to understand the economic
benefits the project will drive.
3. Market Feasibility: The market feasibility study is an evaluation of how your team
expects the project’s deliverables to perform in the market. This part of the report
includes a market analysis, market competition breakdown, and sales projections. 
4. Operational Feasibility: An operational feasibility study evaluates whether or not your
organization is able to complete this project. This includes staffing requirements,
organizational structure, and any applicable legal requirements. At the end of the
operational feasibility study, your team will have a sense of whether or not you have
the resources, skills, and competencies to complete this work. 
5. Managerial Feasibility: Management feasibility is an assessment of a business project.
Its purpose is to analyze if the project meets certain criteria. The most important criteria
are whether the project is realistic from both the technology and the cost point of view
and whether it is likely to contribute to the company's future profits.
6. Environmental Feasibility: Off late, the environmental feasibility has gained
considerable importance, in view of public awareness and enactment of national green
tribunal act (NGT), 2010. any pollution likely to be caused by implementation of a
project would attract adverse abuse and strong opposition from the public as well as
authorities. It is, therefore, incumbent on the part of the project planners to ensure
taking proper care to avoid pollution, lest the project meets stiff oppositions from
various quarters or in a worst-case scenario compelled relocation.
7. Political Feasibility: It refers to a project’s initial approval as well as its existence on long
term basis by the contemporary political setup. This assumes greater significance for
larger projects having cross country presence, and which may have considerable level of
government inputs and political implications. Some issues which are likely to invite
political interventions may pertain to conversion of land from agriculture to industrial
use, anticipated health hazards if the project is implemented, possible air pollution and
water pollution, possible unemployment due to high tech projects etc.
Q-3 What do you mean by Managing a Project and Setting up a Project Database?
A-3 Introduction:
Managing projects has grown increasingly complex over the past
decade for this often leads to large projects particularly information technology
undertakings finishing past due, or budget, and with a lower than projected written on
investment.
Business professionals often rely on project management systems or tools to help them
oversee multiple endeavors. Similarly, companies today can more easily mitigate risk by
identifying failing aspects of a project using time tracking software that forecasts
completion dates for each phase of the project.

Project Management Tools are applications and systems that help project managers,
and their teams organize, plan and execute projects. They are essential in the modern
project management landscape, where project managers are expected to be more
productive and efficient

Project Management Tools can be used to manage and track project progress, organize
and assign tasks, and facilitate communication. They can also be used to create and
share documents, presentations, and reports.

The best project management tools are easy to use, intuitive, and flexible enough to
accommodate the needs of different project teams

Apart from the project management tools, a project database is created for managing
the project.

Some of the Best Project Management Tools and Software are: Scoro, Proofhub,
Basecamp, Asana, Podio, Workzone, etc.

Setting up a Project Database.

Database Management Systems, or DBMSs, are essential for the operations of various
industries.
The business community uses database management systems to store and organize
information on both its operational needs and its marketing efforts.
Quick and easy access to information saves time for retrieval and allows those who need
it to use it without delay.
1. Requirements:
Accomplishing a successful database management system demands
that the programmers and designers confer with all the stakeholders involved in the
operations of the systems to determine how it will be used.
 It is a critical part of how data will be stored and retrieved.

The programmer must consider the kinds of data used and the storage limits and
other kinds of limitations and restrictions on its implementation.

Any single client database manages data, while more complex ones, such as medical
record database, may utilize more complex relationships to define data first
Search model uses characteristics or values in common to represent the
relationships between data.

In simple words both simple and complex databases can be recorded and defined
for example medical records.

2. Models:
To begin designing a database, first understand how it will be used and any
restrictions or requirements it must meet.

If you're thinking about implementing a database management system, you'll need

to discuss your options with programmers to determine which design works best for
your company. (Hierarchical model and network model)

The logic system used to save and retrieve information is dependent on the model
that you apply

Logical operations occur when the database receives information and represents
the “IF, THEN” Functions of the database management system.

One of the differences between the two kinds of data models (it is hierarchical
model data model and network models) is that hierarchical models constrain
information based on few relationships.

In contrast, a network model permits data to be accessed using a range of paths.

You will pick a model that's easy to understand for your users, as well as adaptable
to changing systems.
3. Implementation:
If you have adopted the model you wish to use, the database
system implementation can occur.

One of the most time-consuming phases of database creation processes is its

database implementation.
 The development of your data tables depends on the logic you choose to
implement.Either by hand or by importing it, data must be entered into the
database.
Information can include names, addresses, pictures, graphics and even sounds.

To define how your data will be retrieved, you need to 1st create and populate the
data tables using the appropriate commands

A relationship determines how the data is accessed, making it essential

characteristics of the database.

Example-a medical database might present several possible diagnoses and

treatments to medical professionals or nurses when they add a list of symptoms or
conditions. The possible treatments and causes may shift as a sign is altered or a
new variable is added.

Applications are limited by the capacity of the computer they run.

4. Troubleshooting:
You'll need to run this system through a series of tests to ensure
that it meets your specific requirements before you start using it.
Although there is no definite formula for this, you can get through it efficiently if you
make a list of items to test.
Unit-3 Business Project Management Techniques
Deepak Dhiwar Notes TY-BBA 22-23