Module 1 Nature and imprtance of a Project.pptx

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1. MGMT 137n – Introduction to Project Feasibility Study

2. Lesson 1.1: Project, its Characteristics and Project Life Cycle

3. Objectives: Define a project and discuss its characteristics as defined by the Project Management Institute (PMI). Discuss the project life cycle as one of the bases of managing projects

4. What is a Project? is defined as a sequence of tasks that must be completed to attain a certain outcome “ to any temporary endeavor with a definite beginning and end” – Project Management Institute (PMI)

5. Characteristics of Project

6. The Diverse Nature of Projects A Project can be: BIG SMALL INVOLVE MANY PEOPLE JUST YOURSELF

7. Types of Projects Traditional Projects Agile Projects Remote Projects Agency Projects

8. Boundaries of a Project

9. Life Cycle of a Project

10. Initiation Phase Steps: Undertaking a feasibility study Identifying the scope Identifying the deliverables Identifying the stakeholders Developing a business case Developing a statement of work

11. Planning Phase Steps: Creating a project plan Creating workflow diagrams Estimating budget and creating a financial plan Gathering resources Anticipating risks Holding a project kickoff meeting

12. Execution Phase Steps: Creating tasks and organizing workflows Briefing team member on tasks. Communicating with team members, clients and upper management. Monitoring quality of work Managing budget.

13. Closure Phase Steps: Analyzing the project performance. Analyzing team performance Documenting project closure Conducting post-implementation reviews Accounting for used and unused budget

14. When is a project considered a success? Does it meet business requirements? Is it delivered on schedule and on a budget Does it deliver the expected value and ROI?

15. Lesson 1.2: Constraints of a Project and Project Scheduling

16. Objectives: Identify project constraints that impacts the overall project success Define Gantt chart as a document to needed I project scheduling

17. Project Constraints These are limiting factors for a project that can impact quality delivery and overall project success These should be planned resources, methodology and customer satisfaction

18. Constraint 1: QUALITY Quality is one of six major constraints of every project, as depicted in the classic triple constraint triangle, which also includes scope, time, and cost

19. Constraint 2: TIME Project time (how long it will take to deliver), is a vital measure of project success. Your task is to estimate project time as accurately as possible, which requires a blend of research and experience.

20. Constraint 3: COST Project Cost (how much will the project cost), equally important to stakeholders

21. Constraint 4: PROJECT SCOPE It is the guaranteed set of deliverables As a project manager you have to consider that the stakeholders maybe invested in scope risks and acope tolerance ranges

22. Constraint 5: Benefits Projected Benefits must be clearly spelled out in a business case during the early stages of the project planning.

23. Constraint 6: Risks A project manager must be able to foresee failures at every step of the project and prepare for them accordingly.

24. The Gantt Chart It is a popular project management tool that provides a visual of what need to be done and when

25. How to build a Gantt Chart Steps: Identify all your essential project tasks Identify relationships between tasks Put all your tasks in order of timeline in your spreadsheet Add dates, resources and progress

26. Aspects of a Good Gantt Chart A Gantt Chart should include the following data points: The project start date The name or description of each project task Resources assigned to each task A start and end date for every task The duration of every task The relationship between tasks The project end date

27. Four Types of Relations of Project Tasks Finish to Start (FS) Start to Start (SS) Finish to Finish (FF) Start to Finish (SF)

28. The Benefits of a Gantt Chart Using a Gantt chart for project management, you can: Break down a project into more manageable chunks Easily view task dependencies and relationships Allow team members to view the relationship between their work and others’ Visualize and monitor the progress of tasks over time See constraints and conflicts, such as one resource being assigned to two tasks at once Identify the critical path of the project