PJM IMPORTANT:

What is Project and characteristics:

Project Defined

 A complex, nonroutine, one-time effort limited by time, budget, resources, and

performance specifications designed to meet customer needs.
 A temporary endeavour undertaken to create a unique product or service” (Project
Management Institute, 2004, p. 5)
Major Characteristics of a Project:

 Has an established objective.

 Has a defined life span with a beginning and an end.
 Requires across-the-organizational participation.
 Involves doing something never been done before. –Has specific time, cost, and
performance requirements
Project Life cycle:

What is Project charter and What are it’s contents:

• A project charter refers to a document that authorizes the project manager to initiate and
lead the project.
–This document is issued by upper management and provides the project manager with
written authority to use organizational resources for project activities.
Often the charter will include a brief scope description as well as such items as risk limits,
business case, spending limits, and even team composition.
Contents:
• is the tendency for the project scope to expand over time—usually by changing
requirements, specifications, and priorities.
• Scope creep can be reduced by carefully writing your scope statement. A scope statement
that is too broad is an invitation for scope creep.
• Scope creep can have a positive or negative effect on the project, but in most cases scope
creep means added costs and possible project delays
Different Types of Feasibilities of Project:

1. Technical Feasibility: The technological resources that the organization has access to
are the main focus of this examination. It aids companies in determining if the
technological resources are enough and if the tech team has the skills necessary to
turn concepts into functional systems. The assessment of the proposed system's
technical needs, including its software and other components, is part of the technical
feasibility process
2. Financial Feasibility: Before allocating financial resources, this evaluation often includes a
cost or benefit assessment of a project to help businesses examine the feasibility, costs, and
advantages related to a project. Additionally, it improves the credibility of a project and
serves as an impartial project evaluation, assisting decision−makers in identifying the
favorable economic advantages that the project proposal would bring to the business.
3. Legal Feasibility: This analysis looks at any potential conflicts between the planned project
and applicable laws, such as zoning regulations, data protection laws, and social media usage
regulations. Let's imagine that a company wishes to build a brand new office space in a
certain area. A feasibility study can find that the preferred site of the organization is not
permitted for that particular kind of enterprise. By realizing that their endeavor was
unworkable from the start, that company has just saved a great deal of time and effort
4. Operational Feasibility: This evaluation entails doing research to determine whether and how
effectively the needs of the organization can be satisfied by the project's completion.
Additionally, an operational feasibility study evaluates how the planning of a project fulfills
the needs found during the system development process' requirements analysis phase.
5. Scheduling Feasibility:
• The most crucial evaluation for a project's success is its scheduling feasibility. After taking
into account the organization's capabilities, it predicts the amount of time required to
execute the project and assesses if that timeframe is accessible.
• This study help analyse how the project's schedule fits with present business practices,
including demand forecasting and production plan, among numerous other factors.

Project Scope and steps Involved in it:

Step 1:
Project Scope
  A definition of the end result or mission of the project—a product or service for the
client/customer— in specific, tangible, and measurable terms.
Purpose of the Scope Statement

 To clearly define the deliverable(s) for the end user.

 To focus the project on successful completion of its goals.
 To be used by the project owner and participants as a planning tool and for
measuring project success
Step 2: Establishing Project Priorities:
Causes of Project Trade-offs

 Shifts in the relative importance of criterions related to cost, time, and performance
parameters
• Budget–Cost
• Schedule–Time
• Performance–Scope

Managing the Priorities of Project Trade-offs

 Constrain: a parameter is a fixed requirement.

 Enhance: optimizing a criterion over others. –Accept: reducing (or not meeting) a
criterion requirement
Step 3: Creating the Work Breakdown Structure:
• Work Breakdown Structure (WBS)

 An hierarchical outline (map) that identifies the products and work elements
involved in a project.
 Defines the relationship of the final deliverable (the project) to its subdeliverables,
and in turn, their relationships to work packages.
 Best suited for design and build projects that have tangible outcomes rather than
process-oriented projects

Step 4: Integrating the WBS with Organisation:

• Organizational Breakdown Structure (OBS)

Depicts how the firm is organized to discharge its work responsibility for a project.

 Provides a framework to summarize organization work unit performance.

 Identifies organization units responsible for work packages.
 Ties organizational units to cost control accounts.
Step 5: Coding the WBS for the Information System:
• WBS Coding System –
Defines:
• Levels and elements of the WBS
• Organization elements

• Work packages
• Budget and cost information
–Allows reports to be consolidated at any level in the organization structure.
Different types of approach of a Project:
1. System Approach:
 The system can be defined in dictionary terms as an “organization or complex
whole; an assemblage or combination of things or parts forming a complex or
unitary whole” provides a good point of departure to relate the meaning of a
“system” to project management.
 The systems approach is often described as a disciplined way of viewing the
world, and the solution of problems and the exploitation of opportunities in
that world.
 A process of blowing the problem up to its largest dimensions” and then
redefining problems, analyzing, synthesizing, improving through feedback,
and finally verifying the alternative courses of action in the decision process
2. Contingency Approach:
 Leader-member relations: The amount of trust and confidence that team
members have in their leader. More trustworthy leaders have more influence,
so they are in a more favourable position.
 Task structure: Is the task clear and structured, or vague and confusing?
Unstructured tasks are unfavourable.
 Leader’s position power: How much power a leader has to direct the group,
as indicated by providing rewards or punishments. Having more power is
more favourable
3. Teamwork Approach:
Conflict Resolution

– Address conflicts and disagreements promptly and constructively

– Encourage team members to express their concerns and help them find mutually
acceptable solutions.

Training and Skill Development

– Provide opportunities for team members to enhance their skills and Knowledge.
– Invest in training and development programs to improve team competence.
Feedback and Improvement – Establish a culture of continuous improvement.
– Solicit feedback from team members and stakeholders and use it to make necessary
adjustment