1st Chapert

8/3/2019 1st Chapert

1/4

4103 Project Management

1st Chapter Introduction

Question 01: Define Project.

Answer:

Project: The PMI has defined a project as A temporary endeavor undertaken to create a

unique product or service.

According toAdam Ebert, A project is a one-shot set of activities with a definite beginning

and ending point.

According to R. L. Martino, A project is some overall task which has a definable

beginning and a definable end. It consists of a number of related and dependent activities, all of

which utilize resources and upon which there are imposed internal and external conditions.

Question 02: Describe the forces which foster project management.

Answer:

There are some forces which influence the project management. These are as follows:-

1. Expansion of knowledge: The expansion of knowledge allows an increasing number of

academic disciplines to be used in solving problems associated with the development,

production and distribution of goods and services.2. Continuing demand: Satisfying the continuing demand for more complex and customized

products and services depends on our ability to make product design.

3. Worldwide market forces: The worldwide market force include culture and environment

differences in managerial decision making about what, where, when and how to produce and

distribute output.

4. Social forces: Social force is the intense competition among institutions both and non-profit,

fostering by economic system resulting in organizational crusade.

5. Cultural forces: Culture may from nation to nation and country to country. Culture

influences the project management significantly.

6. Environmental forces: Environment means the economical political situation and attitude

of the people into a country.

7. Technological forces: Technology can do anything the fact is; this assumption is

reasonably true within the bound of natures fundamental laws.

Muhammad Shahadat Hossain, Lecturer, Dept of BBA, MIST | Phone: 01818-605552; Email: [email protected]

1


2/4

Question 03: Discuss the objectives of project.

Answer:

Objective of project: There are three objectives behind a project. For which the project is

implemented and going on. These are performance, time, and cost. These are described as

follows:-

1. Performance: There is a tendency to think a project solely in terms of its outcome that is

its performance. Indeed, even the concept of performance or scope is more complex than is

apparent.

2. Time: Another objectives of the project is to complete the project in due date. If the time

need more than the schedule then the cost of the project will be high than the budget.

3. Cost: the project should be completed at the estimated budget. Every project manager wants

to minimize the projects cost as possible as minimum level.

Question 04: Discuss the features of project.

Answer:

Features of project: From the view point of objectives, functions, internal function

environmental each project has specific characteristics. These are as follows:-

1. Importance: The most crucial attribute of a project is that it must be important enough in

the eyes of senior management to justify setting up a special organizational unit outside the

routine structure of the organization.

2. Performance: A project is usually a one-time activity with a well defined set of desired endresult. The project is complex enough that the sub tasks require careful coordination and

control in terms of timing procedure, cost and performance.

3. Definite life cycle: Like organic entities, project have life cycle. From a show beginning

they progress to a build up of size, then peak, begin a decline and finally must be terminated

by some due date.

4. Complex interdependent: Project often interacts with other project being carried out

simultaneously by their parent organization. The employees of a project come from different

environment and make complex interdependencies.

5. Uniqueness: Through the desired end results may have been achieved elsewhere, they are at

least unique to the organization. Moreover, every project has some elements that are unique.

6. Resources: Project have limited budget, both for personnel as well as other resources.

7. Conflict environment: More than most managers, the project manager lives a world

characterized by conflict. Projects complete with functional department for resources and

personnel. Here conflict arises for leadership, distribution and individual interest.


2


3/4

Question 05: Discuss about the project life cycle.

Answer:

Project life cycle: Most projects go through similar stages on the path from origin to

completion. We define these stages as the project life cycle. The project is completed by different

stages. These are as follows:-

1. Project identification: The first stage of project life cycle is project identification. In this

stage necessity requirement is selected and concept developed.

2. Project preparation: Project preparation means design the project on the basis of technical,

economical, social and organizational dimensions.

3. Project appraisal: It is a decision making process. By this process the cost, profit and

acceptability of project has been justified.

4. Project negotiation: Project negotiation means communication with the different parties

related to the project.

5. Project implementation and supervision: By taking effective measure the project make

implementation and supervision is needed for effective implementation.

6. Project evaluation: It is the last step of project life cycle. The activities of the project beenevaluated against standard and it lack remedial actions is taken.

Question 06: Discuss the classification of project.

Answer:

Classification of project: The project may be classified on the basis of following factors:-

1. On the basis of national income and socio economic activities:

a. Industrial project.

b. Agricultural project.

c. Educational project.

d. Engineering project.

2. On the basis ofinput and production factor:

a. Labor intensive project.

b. Capital intensive project.

3. On the basis ofproprietor partnership project:

a. Single proprietorship project.

b. Joint proprietorship project.

Again we can divide project on the basis of determinant:-

Determinant 1: Advantage of project: On the basis of project management developing projectcan be divided three types:

i. X class.

ii. Y class.

iii. Z class.

Determinant 2: Performance of resource allocation: Considering national importance, on the

basis of preference of resource allocation project can be two types:

i. Core project.

ii. Non-core project.


3


4/4

Determinant 3: Aspect of project: considering project planning and implementation project can

be divided four types:

i. Experimental project.

ii. Pilot project.

iii. Demonstration project.

iv. Replication, dissemination and service delivery project.

Question 07: Define project management

Answer:

Project management: Project management can be defined as the planning, directing and

controlling of resources (people, equipment, mental) to meet the technical, cost and time constraints

of the project.

According toBB Goel, Project management is an organized venture for managing projected

that involves scientific application of modern tools and techniques in planning, financing,

implementing, monitoring, controlling and coordinating unique activities of tasks to procedure

desirable outputs in consonance.

Question 08: Discuss the functions and responsibilities of a project management in

managing a project.

Answer:

The function and responsibilities of a project management in managing a project are as

follows:-

1. Project planning;

2. Project coordinating;

3. Project staffing and training;

4. Project implementation;

5. Project controlling and reporting;

6. Maintaining linkage with concerned parties;

7. Conflict of management;

8. Change management;

9. Project financing management;

10. terminating the project;

11. Overall evaluating report.

***** ***** *****


4

1st Chapert

Documents

Transcript of 1st Chapert