What is a Project?

http://www.hyperthot.com/pm_intro.htm

A project is a temporary effort to create a unique product or service. Projects usually

include constraints and risks regarding cost, schedule or performance outcome.

What is Project Management?

Project management is a set of principles, practices, and techniques applied to lead
project teams and control project schedule, cost, and performance risks to result in
delighted customers.

Project Management

Project management is the science (and art) of organizing the components of a project,
whether the project is development of a new product, the launch of a new service, a
marketing campaign, or a wedding. A project isn't something that's part of normal
business operations. It's typically created once, it's temporary, and it's specific. As one
expert notes, "It has a beginning and an end." A project consumes resources (whether
people, cash, materials, or time), and it has funding limits.

Project Management Basics

No matter what the type of project, project management typically follows the same
pattern:

1. Definition
2. Planning
3. Execution
4. Control
5. Closure

Defining the Project

In this stage the project manager defines what the project is and what the users hope to
achieve by undertaking the project. This phase also includes a list of project deliverables,
the outcome of a specific set of activities. The project manager works with the business
sponsor or manager who wants to have the project implemented and other stakeholders --
those who have a vested interest in the outcome of the project.

1
Planning the Project

Define all project activities. In this stage, the project manager lists all activities or tasks,
how the tasks are related, how long each task will take, and how each tasks is tied to a
specific deadline. This phase also allows the project manager to define relationships
between tasks, so that, for example, if one task is x number of days late, the project tasks
related to it will also reflect a comparable delay. Likewise, the project manager can set
milestones, dates by which important aspects of the project need to be met.

Define requirements for completing the project. In this stage, the project manager
identifies how many people (often referred to as "resources") and how much expense
("cost") is involved in the project, as well as any other requirements that are necessary for
completing the project. The project manager will also need to manage assumptions and
risks related to the project. The project manager will also want to identify project
constraints. Constraints typically relate to schedule, resources, budget, and scope. A
change in one constraint will typically affect the other constraints. For example, a budget
constraint may affect the number of people who can work on the project, thereby
imposing a resource constraint. Likewise, if additional features are added as part of
project scope, that could affect scheduling, resources, and budget.

Executing the Project

Build the project team. In this phase, the project manager knows how many resources
and how much budget he or she has to work with for the project. The project manager
then assigns those resources and allocates budget to various tasks in the project. Now
the work of the project begins.

Controlling the Project

The project manager is in charge of updating the project plans to reflect actual time
elapsed for each task. By keeping up with the details of progress, the project manager is
able to understand how well the project is progressing overall. A product such as
Microsoft Project facilitates the administrative aspects of project management.

Closure of the Project

In this stage, the project manager and business owner pull together the project team and
those who have an interest in the outcome of the project (stakeholders) to analyze the
final outcome of the project.

Time, Money, Scope

Frequently, people refer to project management as having three components: time,

money, and scope. Reducing or increasing any one of the three will probably have an
impact on the other two. If a company reduces the amount of time it can spend on a

2
project, that will affect the scope (what can be included in the project) as well as the cost
(since additional people or resources may be required to meet the abbreviated schedule).

Project Portfolio Management

Recent trends in project management include project portfolio management (PPM). PPM
is a move by organizations to get control over numerous projects by evaluating how well
each project aligns with strategic goals and quantifying its value. An organization will
typically be working on multiple projects, each resulting in potentially differing amounts
of return or value. The company or agency may decide to eliminate those projects with a
lower return in order to dedicate greater resources to the remaining projects or in order to
preserve the projects with the highest return or value.

Implementing PRINCE2 Project Management Methodology

By Kevin Adler

PRINCE2 (PRojects IN Controlled Environments) is a process-based approach for

managing projects. It helps to work out who should be involved in a project, their role
and their responsibilities. PRINCE2 has a set of processes to work through and it explains
what information needs to be gathered. The method is the de-facto standard for project
management in the UK and is practiced globally.

The majority of organisations that wish to use PRINCE2 as their chosen project
management methodology start with accredited training. Training is a necessity as it is a
complex system with many processes and angles; and the training will provide everyone
with the knowledge they need to manage a project with an understanding of the
terminology used.

PRINCE2 is very adaptable and can be applied to all sorts of projects, no matter how big
or small the project is; even projects lasting a few days will benefit from selective
application of PRINCE2 guidelines. In a training environment the principles sound
logical, but putting theory into practice can be a different story. Sometimes users of
PRINCE2 struggle with fully understanding how the method can enhance a project. This
can lead to a fervent adherence to unnecessary levels of formality and detail - therefore
giving the impression PRINCE2 is bureaucratic and filled with rules and regulations.

3
Equally it could lead to inappropriate shortcuts being taken in projects, which can
undermine the integrity of the method and the control and management of risk it
provides.

How to Ensure PRINCE2 is Implemented into the Workplace

An organisation may need help with implementing PRINCE2 if, for example:

 It is the first time PRINCE2 will be used within the organisation or team
 PRINCE2 has already been implemented into the organisation but business
benefits are not being fully realised.
 The business wants to ensure they are PRINCE2 compliant (using the Project,
Programme and Portfolio Management Maturity Model)
 The business is interested in gaining a recognised accreditation for its project
management processes

To implement PRINCE2 the process can be treated as a project, which has been
completed by many organisations. An alternative option is a PRINCE2 business
mentor/coach. The objective of mentoring/coaching is to ensure the embedment of
PRINCE2 concepts that were learnt during training so that full transference of skills can
be transferred into the workplace.

PRINCE2 mentors/coaches specialise in assisting organisations with the management of

change that is required to implement PRINCE2 successfully. They can provide guidance
and support during the implementation of PRINCE2 through a combination of coaching,
mentoring and training and ensuring the appropriate skills are nurtured. They also
provide one-to-one sessions with individuals to support them in their new or enhanced
role, give briefings or workshops for small groups with specific roles or responsibilities,
and/or remote support by telephone or email.

The role of mentor and coach do differ. Mentoring is "a process in which the mentor
serves as a role model, trusted counsellor, or teacher who provides opportunities for
development, growth, and support to less experienced individuals." Mentors often take a
"hands-on approach" and have specific knowledge and expertise in one or more areas. A
coach "is a person who supports people (clients) to achieve their goals, with goal setting,
encouragement and questions... a coach rarely offers advice."

Conclusion
The key to success with PRINCE2 is to remember it is adaptable and can be tailored for
all project types regardless of industry and marketplace. Implementing PRINCE2 is more
than providing staff with training - it is about establishing project management best
practice into the working culture, and achieving organisational benefits through improved
project governance.