Meaning:

PROJECT
“an individual or collaborative enterprise that is
carefully planned to achieve a particular aim”
Definition:
A project is defined as a “temporary endeavor
with a beginning and an end and it must be used
to create a unique product, service or result”.
Further, it is progressively elaborated. What this
definition of a project means is that projects are
those activities that cannot go on indefinitely
and must have a defined purpose.
 PROJECT CHARACTERISTICS
• A project is not normal day to day activity
undertaken by organization rather it is specific,
non-routine activity of varying time frame and
impact viability of the business in the long run. A
typical project has following characteristics:
• Timeline: A project has a definite timeline with
measurable starting and end point.
• Resources: A project has limited resource of capital
and manpower.
• Tools: Special type of tools and techniques are used
for project management (Gantt Charts, etc.)
• Team: Project management requires diverse team
stretching across departments and functions.
 PROJECT MANAGEMENT
• Project management is the practice of
initiating, planning, executing, controlling, and
closing t he work of a team to achieve
specific goals and meet specific success
criteria at the specified time. The primary
challenge of project management is to
achieve all of the project goals within the
given constraints.
 Importance of project Management
• 1. Strategic Alignment
• 2. Leadership
• 3. Clear Focus & Objectives
• 4. Realistic Project Planning
• 5. Quality Control
• 6. Risk Management
• 7. Orderly Process
• 8. Continuous Oversight
• 9. Subject Matter Expertise
• 10. Managing and Learning from Success and
Failure
 OBJECTIVES OF PROJECT
MANAGEMENT,
1. The successful development and i
implementation of all project’s procedures.
2. Productive guidance, efficient communication
3. The achievement of the project’s main goal
within the given constraints.
4. Optimization of the allocated necessary
inputs
5. Production of a complete project which
follows the client’s exclusive needs and
objectives.
 Project Management Tools

• Organizing Workflow & Planning

• Communication
• Scheduling
• Time management
• Finance & Accounting
 PROJECT MANAGER DUTIES:
• Develop a project plan
• Manage deliverables according to the plan
• Recruit project staff
• Lead and manage the project team
• Determine the methodology used on the
project
• Establish a project schedule and determine
each phase
• Assign tasks to project team members
• Provide regular updates to upper management
 Role and Responsibilities of
Project Manager
• Planning and Defining Scope
• Activity Planning and Sequencing
• Resource Planning
• Developing Schedules
• Time Estimating
• Cost Estimating
• Developing a Budget
• Documentation
• Creating Charts and S hedules
• Risk Analysis
• Managing Risks and Issues
• Monitoring and Reporting Progress
• Team Leadership
• Strategic Influencing
• Business Partnering
• Working with Vendors
• Scalability, Interoperability and Portability
Analysis
• Controlling Quality
• Benefits Realisation
 Determinants of Project Success

• Smart People
• Smart Planning
• Open Communication
• Careful Risk Management
• Strong Project Closure
 PHASES OF PRODUCT LIFE
CYCLE
• Initiation: The first stage where you figure out the
‘why’ of the project’s existence. You map out the
project’s objective, pick a manager, and clarify your
approach. The key deliverable of this stage is the
project charter.
• Planning: This is where you use your PM
knowledge to develop a detailed plan for the
project’s execution. You’ll define the project’s scope,
create a WBS, and map out a schedule. All the
heavy lifting – communication plans, risk
management plans, etc. – is done I n this stage. Some
of the key deliverables are the WBS, Gantt chart,
and project plan.
• Execution: This is the “do” phase of the project
where you actively track assigned tasks and
ensure that the project s tays on course. You’ll
hold meetings, send out status reports, and
ensure that the project runs smoothly.
• Control: The ‘control’ phase runs alongside the
Execution phase and is focused on monitoring
the project’s progress. You’ll monitor
milestones, goals, and activities to keep
the project on track.
• Closure: In this fifth and final stage, you’ll hand
over all deliverables to stakeholders and
formally close the project. You’ll also review
the project for lapses, insights, and positives.
The key deliverable in this stage is the project
report.
 CLASSIFICATIONS
OF PROJECTS
• Every Project is different. Projects can be
classified on several different points. The
classification of projects in project
management varies according to a number of
different factors such as complexity, source of
capital, its content, those involved and its
purpose. Projects can be classified on the
following factors.
1.ACCORDING TO COMPLEXITY:
• Easy: A project is classified as easy when the
relationships between tasks are basic and
detailed planning or organisation are not
required.
• Complicated: The project net work is broad
and complicated. There are many task
interdependencies. With these projects,
simplification where possible is everything.
• 2. ACCORDING TO SOURCE
OF CAPITAL:
• Public: Financing comes from
Governmental institutions.
• Private: Financing comes from businesses
or private incentives.
• Mixed: Financing comes from a mixed
source of both public and private funding.
3.ACCORDING TO PROJECT
CONTENT:
Construction: These are projects that have
anything to do with the construction of a civil
or architectural work.
IT: Any project to do with software
development, IT system etc.
Business: These projects are involved with the
development of a business, management of a
work team, cost management, etc.,
Service or product production: Projects that
involve themselves with the development of
4. ACCORDING TO T HOSE
INVOLVED:
• Departmental: When a certain department or
area of an organisation is involved.
• Internal: When a whole company itself is
involved in the project’s development.
• Matriarchal: When there is a combination
of departments involved.
• External: When a company outsources
external project manager or teams to execute
the project
5. ACCORDING TO ITS OBJECTIVE:
• Production: Oriented at the production of a
product or service taking into consideration a
certain determined objective.
• Social: Oriented at the improvement of the
quality of life of people.
6. EDUCATIONAL: ORIENTED AT THE
EDUCATION OF OTHERS.
• Community: Oriented at people too,
however with their involvement.
• Research: Oriented at innovation and the
gaining of knowledge.
SCOPE OF PROJECT
MANAGEMENT