PROJECT MANAGEMENT intro - Lecture 01.pptx

PM introduction

1. PROJECT MANAGEMENT Lecture 01 : Introduction to Project Management Mihiransie Elvitigala BSc. ( Hons ) in Quantity Surveying MSc. in Management (Reading) Lecturer – Dept. of QS FBESS - KDU

2. What is Project Management? Project management is the application of methods, processes, skills, experience, and knowledge to complete projects in accordance with the project acceptance criteria and within the agreed parameters . It involves the application of knowledge, skills, experience, tools, methods and resources in the project.

3. Differentiating Project Management from Management Project Management Contains deliverables that are constrained to a defined budget and time scale . Final Deliverable Finite Timespan Defined Budget Management An ongoing /continuous processes or functions of the organization. Strategic planning Establishment of objectives Arrangement and optimum allocation of resources Controlling the activities Measurement of the results

4. Definition of a Project A  project  is a series of related tasks which when they are carried out in the correct  order  will  lead  to the  completion  of the  project. It is a temporary endeavor undertaken with an aim of creating a distinctive output which can be a product, service or outcome. It has a specified beginning and finish time. A project has an acceptance criteria, plus agreed specifications.

5. Nature of a Project A clear start and an end date – There are projects that last several years but a project cannot go on forever . It needs to have a clear beginning, a definite end, and an overview of what happens in between . 2. A project creates something new – Every project is unique, producing something that did not previously exist. A project is a one-time, once-off activity, never to be repeated exactly the same way again.

6. Characteristics of a Project 3. A project is not Business as usual – Projects are often confused with processes. A Process is a series of routine, predefined steps to perform a particular function, eg : expense reimbursement approvals. 4. A project has boundaries – A project operates within certain constraints of time, budget, quality, and functionality .

7. Attributes of a Project Project Goal – Achieving Client’s requirements Project Process and Deliverable – It is a process aimed at achieving specified objectives Finite – A project is a temporary process with a finite duration. Complex – Interlinked tasks, resources, disciplines, organizations. Project Lifecycle – Has a distinctive and unique life cycle that passes through several distinct phases Resources – Material, Human (Labor), Equipment etc. Risk – For a unique outcome which never existed has some uncertainty.

8. Project Constraints Cost : The financial constraints of a project, also known as the project budget Scope: The tasks required to fulfill the project’s goals Time: The schedule for the project to reach completion

9. Time and Scope: You can reduce your project scope to also reduce your project duration if you’re running behind schedule. In the opposite case, you can increase the length of your project timeline in case the project stakeholders come up with extra project activities . Cost and Scope: By reducing the project scope, you’ll need to execute fewer tasks, which means lower costs. In the opposite case, a larger project scope means higher costs . Cost and Time: In some projects, time and cost can be directly related. For example, the costs of renting equipment or labor are directly proportional to the time you need them for.

10. Time Constraint For the project to achieve its purpose, to reach its objective, and to deliver its value, the project team should declare it done on a set date. Time constraints determine when activities or tasks of a project should start and when they should end. The constraints include the defined deadlines for each important phase of the project and the rollout of the final deliverable.

11. Start no earlier than S pecifies the earliest date the team can start working on a task within a project. It may not specify a deadline but it can affect the progress of the project or the start of dependent tasks. For example, the activity of laying the building foundation cannot start earlier than the arrival of trucks to pour the cement. Finish no later than Specifies when the latest date the team can finish a task within the project. This is a hard deadline that will impact the overall schedule of the project when missed.

12. As soon as possible An ASAP constraint is a type of time constraint with direct implications to cost. Any delay incurs cost that affects the project budget limits. Conversely, early start and completion can result in savings.

13. Scope Constraint Project scope refers to a project’s magnitude in terms of quality, detail, and deliverables. Provides a common understanding between the Project manager and the Project stakeholders. Time and money are dependencies of project scope, because as the project scope grows, the project will require more time and money to complete . Scope creep should be prevented by creating detailed project plans and getting project stakeholders to sign off on everything before production begins.

14. Cost Constraint Cost constraints involve the financial limitations of the resources allocated to the project budget and the overall limit on the total amount that can be spent . It is important to estimate what the project will cost and set controls to reduce the chances of the project going over budget. Cost overruns lead to Project Delays and even project failure.

15. Project Manager The person who ensures the team meets the project goal within the set timeline, budget and quality. Largely responsible for the success or failure of the project. Role of a Project Manager Leading teams Communicating with stakeholders Defining goals Seeing the project through its closure

16. Project Team Project team requires professionals with specific skills which are required for the completion of the project, especially the technical skills along with the managerial skills.

17. Project Management System A model for overseeing the execution of a project . Provides a framework for managing expectations, delegating responsibilities and creating procedures. Helps the Project Manager to be more efficient with their time and resource allocation. A project management system may use specialized project management software – MS Project

18. Why use a Project Management System Project Planning Budget Estimation Document Organization Time Management Task Delegation Resource Allocation Performance Tracking Communication and coordination Improved onboarding Risk Mitigation

19. Project Stakeholders Individuals and organizations who are actively involved in the project, or whose interests may be positively or negatively affected as a result of project execution or successful project completion .

20. Project vs. Operations

21. Projects vs. Operations OPERATIONS Process is repetitive Permanent process Equilibrium Less chances for risk Traditional hierarchy of responsibilities Undergo several stages Doesn’t have uniqueness Stable PROJECTS Always a new process Temporary process Disequilibrium High risk Informal responsibilities shared It has final end goal Has a uniqueness Unstable

22. Project Life Cycle There are many distinctive phases a project undergo to achieve the objective under th e given pre defined budget and duration. There are four main phases identified in a project. Initiation Planning Execution Closure

23. Initiation Concept Stage Identify a business need, problem, or opportunity and brainstorm ways that your team can meet this need, solve this problem, or seize this opportunity . Stage of determining whether the project is feasible, and identifying the major deliverables for the project.

24. Steps in Project Initiation Stage Undertaking a feasibility study: Technical Feasibility – Site analysis, Site Justification, Detailing, User Analysis Economical Feasibility – Cost Benefit Analysis, How economically viable it is for the end user/client/public Financial Feasibility – Investment vs. Return gained Social Feasibility – Analyze involved social group; project has to be socially acceptable by the community Environmental Feasibility – Analyze the impact on existing nature by implementation of the project

25. 2. Identifying scope : Define the depth and breadth of the project 3 . Identifying deliverables : Define the product or service to provide 4. Identifying project stakeholders : Figure out whom the project affects and what their needs may be 5. Developing a business case : Use the above criteria to compare the potential costs and benefits for the project to determine if it moves forward 6. Developing a statement of work : Document the project’s objectives, scope, and deliverables that you have identified previously as a working agreement between the project owner and those working on the project

26. Planning Development Stage – Process of sorting out Breaking the larger project to smaller tasks, building teams, preparing schedules for completion of assignments. Create smaller goals within the larger projects, which are achievable within the timeframe.

27. Steps in Project Planning Stage Creating a project plan : Identify the project timeline, including the phases of the project , the tasks to be performed, and possible constraints Creating workflow diagrams: Visualize the processes to make the team members clearly understand their role in a project 3. Estimating budget and creating a financial plan: Use cost estimates to determine how much to spend on the project to get the maximum return on investment

28. Gathering resources: Build the functional team from internal and external talent pools while making sure everyone has the necessary tools ( software, hardware , etc.) to complete their tasks Anticipating risks and potential quality roadblocks: Identify issues that may cause the project to stall while planning to mitigate those risks and maintain the project’s quality and timeline Holding a project kickoff meeting: Bring the team on board and outline the project in order to implement the planned work.

29. Execution Turns the Plan into Action Keep work on track O rganize team members Manage timelines Stick to the original plan

30. Steps for Project Execution Stage Creating tasks and organizing workflows: Assign granular aspects of the projects to the appropriate team members , making sure team members are not overworked 2. Briefing team members on tasks: Explain tasks to team members, providing necessary guidance on how they should be completed, and organizing process-related training if necessary Communicating with team members, clients, and upper management : Provide updates to project stakeholders at all levels

31. 4. Monitoring quality of work: Ensure that team members are meeting their time and quality goals for tasks 5. Managing budget:  Monitor spending and keeping the project on track in terms of assets and resources

32. Closure Provide final deliverables Release project resources Determine the success of the project Evaluating what did and did not work with the project

33. Steps for Project Closure Phase Analyzing project performance: Determine whether the project's goals were met (tasks completed, on time and on budget) and the initial problem solved using a prepared checklist. Analyzing team performance: Evaluate how team members performed, including whether they met their goals along with timeliness and quality of work. Documenting project closure: Make sure that all aspects of the project are completed with no loose ends remaining and providing reports to key stakeholders

34. Conducting post-implementation reviews: Conduct a final analysis of the project, taking into account lessons learned for similar projects in the future Accounting for used and unused budget: Allocate remaining resources for future projects

35. The End