Project Lifecycle and Planning Principles.pptx

Project Lifecycle simplified

1. Project Lifecycle and Planning Principles

2. What is a Project? A temporary endeavor undertaken to create a unique product, service, or result . Key Characteristics: Definite Beginning and End: Projects are time-bound. Unique Output: Each project delivers something new. Real-World Example : Launching a New App: Developing and releasing a mobile application to solve a specific problem.

3. The Project Lifecycle Phases of Project Management: Defining (Initiation) Planning Executing Monitoring & Control Closing

4. Phase 1 - Defining (Initiation) con’t Purpose: Establish the project's purpose and feasibility . Identify stakeholders and their expectations. Define the project scope and objectives. Activities: Develop a Project Charter . Conduct a Feasibility Study . Identify the Business Rationale . Real-World Example: Opening a New Bakery Branch: Business Rationale: There's a high demand for artisan bread in a neighboring city. Objective: Expand market reach and increase revenue by 20% in the next year.

5. Phase 2 – Planning con’t Purpose: Develop a roadmap to achieve the project's objectives. Key Activities: Define Project Objectives (using SMART criteria). Develop a Project Schedule . Estimate Costs and Resources . Risk Management Planning . Real-World Example: Planning a Music Festival: Scheduling performers, securing venues, arranging logistics.

6. SMART Objectives Definition: S pecific M easurable A chievable R elevant T ime-bound Example: Objective: Launch a new clothing brand with a line of 10 sustainable fashion items by June 2024, achieving sales of $100,000 in the first quarter.

7. Phase 3 – Executing con’t Purpose: Implement the project plan and carry out the work. Activities: Task Assignments to team members. Quality Assurance processes. Communication with stakeholders. Real-World Example : Constructing a Building: Managing construction crews, ensuring safety standards, coordinating with suppliers.

8. Phase 4 – Monitor & Control con’t Ensure the project stays on track by monitoring progress and taking corrective action w Key Activities: Track Project Performance: Use key performance indicators (KPIs) to measure progress against the plan. Compare actual progress with planned objectives (cost, time, scope). Manage Changes: Implement change control processes to manage scope changes or adjustments. Ensure that changes are approved by relevant stakeholders. Risk Management: Monitor risks throughout the project and take proactive measures to mitigate them. Update the risk management plan as new risks emerge. Quality Control: Ensure that the project's deliverables meet the defined quality standards.

9. Phase 4 – Monitor & Control con’t Tools Used: Earned Value Management (EVM): A method to track project performance against the schedule and cost baselines. Gantt Charts: Updated regularly to reflect the actual progress. Project Management Software: Tools like Microsoft Project or Jira for real-time tracking. Real-World Example: Building a New Hotel: Monitoring the construction schedule to ensure no delays, tracking budget usage, and controlling quality by ensuring all rooms are built to the required standard.

10. Phase 4 – Monitor & Control

11. Phase 5 - Closing Purpose: Finalize all project activities and formally close the project. Activities: Deliver the final product/service . Obtain Acceptance from the client. Document Lessons Learned . Release project resources. Real-World Example: Completing the Elizabeth Line Project: Officially opening the line for public use after final inspections and approvals.

12. The Importance of Planning Benefits of Effective Planning: Clear Direction: Everyone knows what needs to be done. Risk Management: Identifies potential issues early. Resource Optimization: Efficient use of time, money, and people. Stakeholder Alignment: Ensures everyone is on the same page. Real-World Example : The Success of the London 2012 Olympics: Meticulous planning led to successful event execution, infrastructure development, and post-event utilization.

13. Tools and Techniques for Planning Work Breakdown Structure (WBS): Breaks down the project into manageable sections. Gantt Charts: Visual timeline of project activities. Critical Path Method (CPM): Identifies the sequence of crucial steps that determine the project duration. Example Application : House Renovation Project: Using a Gantt chart to schedule tasks like demolition, plumbing, electrical work, and finishing.

14. Time Planning Key Steps in Time Planning: Estimate Activity Durations: Use past experience, consult experts, consider potential delays. Sequence Activities: Determine which tasks are sequential and which can be done in parallel . Develop the Schedule: Allocate start and end dates to each activity. Real-World Example : Launching a Marketing Campaign: Content creation and graphic design can occur in parallel, but both must be completed before launching ads.

15. Cost Estimation con’t Direct Costs: Costs directly tied to project activities (e.g., labor, materials). Indirect Costs: Overhead costs not linked to specific tasks (e.g., utilities, office rent). General & Administrative (G&A) Costs: Corporate expenses like accounting and HR services. Estimation Approaches: Top-Down Estimating: Using historical data from similar projects. Bottom-Up Estimating: Detailed estimation of individual tasks. Example: Organizing an International Conference: Top-Down: Estimating total cost based on previous events. Bottom-Up: Calculating costs for venue, speakers, marketing, accommodations individually.

16. Risk Management in Planning Importance of Risk Management: Identifies potential obstacles. Develops mitigation strategies. Steps: Risk Identification Risk Analysis Risk Response Planning Risk Monitoring and Control Real-World Example: Technology Implementation Project: Risk of software incompatibility; plan includes testing phases and backup solutions.

17. Stakeholder Engagement in Planning con’t Why Engage Stakeholders Early? Gain insights and requirements. Ensure support and buy-in. Identify and address concerns. Methods: Meetings and Workshops Surveys and Feedback Forms Regular Updates Example: Community Infrastructure Project: Holding town hall meetings to gather input and address residents' concerns.

18. Project to transform slum to modern dwelling

19. Conclusion and Key Takeaways Summary: Project Lifecycle Phases: Defining, Planning, Executing, Closing. Planning is Critical: It sets the foundation for project success. Real-World Application: Applying these concepts ensures projects meet objectives and stakeholder expectations. Encouragement: Apply these principles to your projects and consider how thorough planning can lead to successful outcomes.