B. Sc.

Agribusiness Management
Third Year, First Semester (3-I)

EC-3102: Project Management

Project Management
1. Introduction to Project Management
2. Project Life Cycle
3. Key Areas of Project Management
4. Project Management Methodologies,
Processes, And Frameworks
5. Role of a Project Manager
Introduction to Project
Management
Introduction to Project Management
a. Project
b. Project Planning and Management
c. Project Success and Failure
d. Green Project Management
e. Sustainability and Project
Management
A Project
 Project

▪ “A temporary and one-time endeavor

undertaken to create a unique product or
service, which brings about beneficial change
or added value”
▪ Project converting a vision, a dream
or a need to reality:

▪ A job that has a beginning and an

end (Time)

▪ A specified outcome(Scope)

▪ At a stated level of Performance

(Quality)

▪ At a budget(Costs)
 Characteristics of Project
1. Objectives: Once objectives are achieved project is
completed
2. Life cycle: Life cycle consists of five stages: conception
stage, definition stage, planning & organizing stage,
implementation stage and commissioning stage
3. Uniqueness: No two projects are similar
4. Team Work: Personnel specialized in respective areas
and co-ordination among diverse areas
5. Complexity: Complex set of activities relating to diverse
areas
6. Risk and uncertainty: Element is not apparently visible
on the surface and it will be hidden underneath
7. Customer specific nature: Projects/services are
suited to customer needs

8. Change: Occur through out life span of a project as a

natural outcome of many environmental factors

9. Optimality: Aimed at optimum utilization of resources

for overall development of the economy

10.Sub-contracting: A high level of work done through

contractors

11.Unity in diversity: Complex set of varieties in terms

of technology, equipment and materials, machinery and
people, work, culture and others
 Business and Development Projects
Dimension Business Project Developmental Project
Scale of Project Limited Large
Promoters Entrepreneurs or Government, Public Sectors,
corporates NGOs
Investment --- High
Gestation Period --- High
Profitability High, Considered on IRR Modest, Considered on ERR
(Internal Rate of Return) (Economic Rate of Return)
Finance Stringent debt-equity Operates on higher debt-equity
norms norms
Source of fund National stock markets International organizations
and from domestic like World Bank, IMF,ADB,DFID and
financial others mostly as loan ,yet times
institutions providing for some grants
Interest rates Market rate is high and Very low for borrowed funds
and repayment the repayment period is and the repayment period
period generally extends up to 25 years and
7 to 10 years even beyond.
 Project Life Cycle
▪ Phases a project goes through from its initiation to closure
▪ Number and sequence of the cycle determined by
management and on:
▪ Needs of organization involved, nature of the project,
and area of application etc.
▪ Defined and modified as needs and aspects of organization
▪ Range from predictive or plan-driven approaches to
adaptive or change-driven approaches
▪ Generic lifecycle structure consisting:
▪ Initiation Phase: Starting of the project
▪ Planning Phase: Organizing and Preparing
▪ Execution Phase: Carrying out the project
▪ Termination Phase: Closing the project
 Phases of Project Life Cycle

https://www.slideteam.net/project-phases-4-stages-of-project-life-cycle-ppt-
images.html
https://slidetodoc.com/what-is-project-management-a-project-is-an/
Project Planning and Management
 Project Planning
▪ Heart of the project life cycle, and tells everyone
involved:
▪ Where you’re going and how you’re going to get there
▪ Involves a series of steps that determine:
▪ How to achieve a particular community or organizational
goal or set of related goals
▪ Purpose of the project planning:
▪ Establish business requirements
▪ Establish cost, schedule, list of deliverables, and
delivery dates
▪ Establish resources plans
▪ Obtain management approval and proceed to next phase
https://www.freshbooks.com/blog/project-planning-master
 Project Management
▪ Professional and conscientious project management
is critical to a successful outcome!
▪ It’s a balancing act – you’ve got a lot of things to
keep going - and going well – all at once!
▪ PM a discipline that has developed since the WWII era
▪ Generalizing techniques common to all or most projects
▪ Providing a common framework for selecting, planning,
executing, controlling, and finishing projects
▪ The Project Management Institute (PMI, est. 1969)
formalizes the techniques of this discipline within:
▪ Project Management Body of Knowledge (PMBOK)
▪ Main goal of PM, balance the trade-offs (compromise)
among:
▪ Scope (i.e., what is delivered)
▪ Budget
▪ Time https://myassignmenthelp.info/
assignments/project-
management-1350410/
 Project Management Process
PMBOK Guide breaks down process into “five stages” or
“process groups”:
1.Initiating: Project is conceptualized, and feasibility is
determined
2.Planning: Create a blueprint to guide entire project from
ideation through completion
3.Executing: Conduct the procurement required and
effective management of the team members on the ground
4.Monitoring and control: Closely measure project's
progress to ensure it is developing properly
5.Closing: Occurs once project deliverables have been
produced and stakeholders validate and approve them
 Process Groups Interact in a Project
▪ Processes in practice overlap and interact
▪ Applying appropriate project management knowledge and
skills during the project
▪ Processes is iterative, and many processes are repeated

http://pmworkplace.com/PMP/A_Guide_to_the_Project_Management_Body_of_Knowle
dge_PMBOKGuide/LiB0019.html 20
https://www.angelo.edu/administrative-support/information-technology/project-
office/Project_Lifecycle.php
 Project Management Framework

https://www.e-education.psu.edu/geog871/l1_p6.html
 Variables of Project Management

Can somewhat vary the following factors.

1. The total cost of the project,
• e.g., increase expenditures
2. The capabilities of the product,
• e.g., subtract from a list of features
3. The quality of the product,
• e.g., increase the mean time between failure
4. The date on which the job is completed.
• e.g., reduce the schedule by 20%
• e.g., postpone project's completion date one month
 Bull's-eye Figure for Project Variables
Target: cost Target :
100% Rs.70 m

Actual: Actual:
100% Rs.90 m
this
project
capability duration
Target :
Target : 30 wks
4 defects/100

Actual: Actual:
1 defect/100 defect 20 wks
density
 Project Manager
▪ Person assigned by performing organization to lead the
team that is responsible for achieving project objectives
▪ Play the lead role in planning, executing, monitoring,
controlling and closing projects
▪ Accountable for entire project scope, project team,
resources, and the success or failure of the project

https://slidep
layer.com/slid
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25
 Project Stakeholder
▪ Those with an interest in project's outcome
▪ Their input can directly impact the outcome

http://wiki.doing-projects.org/index.php/File:Project.png
 Turning Groups into Teams

Forming, Storming, Norming, Performing, and Adjourning

Project Success and Failure
 Project Success Criteria

▪ Meeting the goals that have been

agreed upon
▪ Customer Requirements Iron Triangle
satisfied/exceeded
▪ On time delivery - Completed
within allocated timeframe
▪ Within budget delivery -
Completed within allocated
budget
▪ High quality delivery -
Acceptance by the customer
 12 Golden Rules for Project Success
1. Gain consensus on project outcome
2. Build the best team possible
3. Develop comprehensive, viable plan and keep up-to-date
4. Determine the staff you really need to get things done
5. Have a realistic schedule
6. Won’t try to do more than can be done
7. Will remember that people count
8. Gain formal and ongoing support of management and
stakeholders
9. Must be willing to change
10.Must keep others informed of what you’re up to
11.Must be willing to try new things
12.Must become a leader
 Project Constraints
▪ Triple constraints are the keys to quality and
success!
▪ Time constraint is the amount of time available to
complete a project
▪ All projects have deadlines or end dates
▪ This may be the most difficult constraint to
manage
▪ Cost constraint is the budgeted amount available for
the project
▪ Cost also translates to resources – people,
equipment, and materials
▪ Scope constraint is what must be done to produce
the project's end result
▪ System you need – meeting your requirements!
▪ These three constraints are often
competing constraints:
▪ Increased scope typically means
increased time and increased cost
▪ C = f(P, T, S) : Cost is a function of
Performance, Time, and Scope
▪ A tight time constraint could mean
increased costs and reduced scope
▪ A tight budget could mean increased
time and reduced scope
▪ Or managing the project over a longer
period of time to take advantage of
various funding opportunities without
a loss of continuity!
 Reasons for Projects Fail
1. Scope creep
2. Poor requirements gathering
3. Lack of resources
4. Lack of sponsorship
5. No Functional input in planning
6. Unrealistic planning and impossible schedule
commitments
7. Poor project and program management discipline
8. Lack of executive-level support
9. Wrong team members
10. Poor communication
11. No measures for evaluating the success of project
12. No risk management
13. Inability to manage change
Green Project Management
▪ Green Projects

▪ Greening Projects

▪ Green Project
Management
 Principles of Green Project Management
1. Commitment & Accountability:
▪ Recognize rights of all to healthy, clean and safe
environments
▪ Equal opportunity, fair renumeration, ethical
procurement, and adherence to rule of law
2. Ethics & Decision Making:
▪ Decision making with identification, mitigation, and
prevention of:
▪ Adverse short and long-term impacts on society and
environment
3. Integrated & Transparent:
▪ Foster interdependence of economic development,
social integrity, and environmental protection:
▪ In all aspects of governance, practice, and reporting
4. Principles & Values-Based:
▪ Conserve and enhancing natural resource base:
▪ By improving ways in which we develop and use
technologies and resources
5. Social & Ecological Equity:
▪ Assess human vulnerability in ecologically sensitive
areas and:
▪ Centers of population through demographic
dynamics
6. Economic Prosperity:
▪ Adhere to fiscal strategies, objectives, and targets:
▪ That balance needs of stakeholders, including
immediate needs and those of future generations
▪ Projects create something unique
▪ They require effort and energy, and
▪ Deliver an outcome of higher energy/value than
the value of its inputs
▪ Where is energy expended in Projects?
▪ Work/labor
▪ Management/relationships
▪ Infrastructure
▪ Materials and procurements
▪ ….and waste!!
 Waste Side Story
Examples of waste in projects:
▪ Material waste
▪ Process waste
▪ Information waste
▪ Knowledge waste
▪ Management waste
▪ Wasting relationships
▪ Work in process (WIP)
▪ Idle workforce
▪ Unused workforce skills
▪ Rework - Waste from product defects
 New Context
▪ A new problem:
▪ Projects & project management need to be
optimized in a new context:
▪ Much broader
▪ New priorities
▪ New project success criteria:
▪ Value
▪ People
▪ Sustainability
▪ Impact on the project’s environments
 3Rs of Green Project Management

Reuse

Reduce Recycle
Sustainability and Project
Management
 Sustainable Project Management
▪ Balancing or harmonizing social,
environmental and economic interests in a
project
▪ Takes into account the full life-cycle of the
project / of the asset / of the product
▪ Cross triple bottom line of business with
golden triangle of project
▪ Takes into account societal impacts and
▪ Expands definition of perimeter of the
project:
▪ Local and global society (societal vision)
▪ Incorporating the impact of the project
on future generations
https://www.theprojectmanagementblueprint.com/blog/project-overview/scope-
and-the-triple-contraints-of-quality-time-cost
Shifts of Sustainable Project Management

https://pmworldlibrary.net/wp-content/uploads/2018/06/2014-Silvius-Schipper-
Sustainability-in-project-management.pdf
Thank You