An introduction

PROJECT MANAGEMENT

PROJECT

A project is a plan or idea intended to be carried out. A project can be defined as an scientifically evolved work plan devised to achieve a specific objective within a specified period of time. They have the following attributes: #a course of action #specific objectives # definite time perspective It is a an economic activity having a well defined objectives and having a specified beginning and an end.

CHARACTERISTICS OF PROJECT

Objectives Life span Single entity Team work Life cycle Uniqueness Change prone Successive Customer oriented Unity Sub contracting Risk & uncertainity

PROJECT OBJECTIVES

They have to be formulated as : S.M.A.R.T S: specific M: measurable achievement A: achievable R: realistic T: time bound

TYPES OF INVESTMENTS/PROJECTS
Quantifiable & non quantifiable projects Sectoral projects Techno economic projects a)factor intensity-oriented classification b)causation-oriented c)magnitude oriented strategic & tactical investment

Classification based on planning and control a)mandatory investment b)replacement invt c)expansion invt d)diversification invt e)R & D invesment f)miscellaneous invt

NATURE OF CAPITAL INVESTMENT

Future based Irreversible Huge amount Measurement problems Uncertainity

PROJECT LIFE CYCLE PHASES

Conception Definition & development phase Planning Analysis Selection Financing Implementation review

KEY ISSUES IN PROJECT ANALYSIS

Market analysis Technical analysis Financial analysis Economic analysis Ecological analysis

PROJECT IDEAS & SCREENING

Generation of ideas SWOT analysis Idea file Project objectives Monitoring the environment Corporate appraisal Profit potential of different projects Preliminary screening Project selection

PROJECT MANAGEMENT Project management is the application of knowledge,skills,tools and techniques to project requirements. It deals with project identification,formulation & appraisal. It consist of defining what is to be done,maintaining its integrity & ensuring that it is done & performed as desired.

STEPS IN PROJECT MANAGEMENT

Define objectives of project Determining tasks & grouping work into work packages Entrusting project to project manager Supporting & helping the project Building schedules,budgets & contracts Ensuring adherence to goals.

PROCESS OF PROJECT DEVELOPMENT

Initiation Planning & design Executing Monitoring & controlling Continuous project maintenance Closing

CONSTRAINTS OF PROJECT MANAGEMENT

Project management triangle

scope

cost

time