Project management

Made by
Abhishek malaviya

What is project and difference between project and

operation
Turner

defines projects as an Endeavour in which

human, materials, financial and knowledge resources are
organized in a novel way, to undertake a unique scope of
work, of given specification, within constraints of cost
and time, so as to deliver quantitative, qualitative and
consumer oriented product and service.

Project
management

Operation
management

Repetition

Non-repetitive

Repetitive

Workforce

Multi-skilled

Limited skilled

Revenues

No revenues

Revenues

Equipment need

Special purpose
equipment

Same piece of
equipment

Risk

Very high risk

Low risk

Major impact

Future

Present

Project and program

Project:-Turner

defines projects as an Endeavour in

which human, materials, financial and knowledge
resources are organized in a novel way, to undertake a
unique scope of work, of given specification, within
constraints of cost and time, so as to deliver quantitative,
qualitative and consumer oriented product and service.

Program:- A single

use plan that covers a relatively large

set of activities and specific major steps their order and
timing and the unit responsible for each steps.

Characteristics of project
Fixed

set of objectives
Tenure
Team work
Unique
Life cycle
Made to order
Single entity
Multi skilled staff
Subcontracting
Risk and certainity

Constraints of project
Performance
Time
Cost

Project management
Project

management is a methodological approach to

planning and guiding project processes from start to
finish. It is method of planning the plan. It starts from
project definition and ends with goal management.

PMBOK

defines project management as the application

of knowledge, skill, tool and techniques to project
activities in order to meet stakeholders need and
expectations from a project.

Importance of project management

Rapidly

changing technology
High entropy of system
Squeezed life cycle of products
Globalization impact
Large organization
Customer focus

Reason for success of any

project
Project

Sponsorship at executive level

Good project charter
Strong project management
The right mix of team players
Good decision making structure
Good communication
Team members are working toward common
goals

Importance of feasibility
study
A feasibility study is valuable for:
Starting a new business
Expansion of an existing business
Adding an enterprise to an existing business
Purchasing an existing business

Reason to do feasibility
study
Gives

focus to the project.

Narrows the business
alternatives.
Identifies new opportunities.
Identifies reasons not to proceed.
Provides valuable information for
go/no go decision.
Increases probability of business
success by identifying
weaknesses early.

Types of feasibility study

Market

analysis
Financial analysis
Technical analysis
Economic analysis
Ecological analysis
Legal and administrative analysis
Operational analysis

Types of project
Classification

based on duration
1) Long term - > 10 years
2) Medium term 5 to 10 years
3) Short term - < 5 years
Classification based on investments
1) High investment- > 20 crores
2) Medium investment- 5 to 20 crores
3) Low investment- < 5 crores
Classification based on ownership
1) Government
2) corporate
3) Cooperative
4) Partnership or proprietorship

Classification

based on risk

1. Greenfield project
2. Brownfield project
i) Expansion project
ii) Vertical integration project
iii) Diversification project
3. Divestment project
4. Modernization project

Project life cycle

Concept phase
Planning
Implementation
Termination

Project initiation(concept
phase)
Develop

a business case
Detailed description of problem &opportunities
Options for solutions and the risk associated
Feasibility(cost, profit) of every solution
Undertake a feasibility study
Establish terms of reference (mission, vision, objective,
scope, structure of organisation)
Appoint a project team
Setup a project office
Perform a phase review

Project planning
Project

identification

Collection, compilation and analysis of data

Purpose of locating possible opportunities for
investment and development of such opportunity
Criteria

of selecting a project

Investment size
Location
Technology
Equipment
marketing

Project implementation
Execution

of plan

Handle

the change

Project

control

Termination
Project

audit

Preparation
Informing

of operation manual

stakeholders

Types of opportunity
Adaptive
Additive
Supplementry

Entrepreneur
Entrepreneur

is a person who discovers new ideas and

business opportunities, brings together funds to establish
a business, organizes and manages its operations in
order to provide economic goods and services, for
public. Entrepreneurs have a strong convictions, self
motivation, the will to grow and prosper tremendously
and also the courage to go bankrupt If they failure in
their venture. But in majority of cases they starts with
nothing and end with positive results.

Basics of entrepreneur

Entrepreneurial structure