Project Management Unit 1 Fundamental Concepts. Definition of A Project A temporary endeavor...
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Transcript of Project Management Unit 1 Fundamental Concepts. Definition of A Project A temporary endeavor...
![Page 1: Project Management Unit 1 Fundamental Concepts. Definition of A Project A temporary endeavor undertaken to create a unique product or service (PMBOK®).](https://reader035.fdocuments.us/reader035/viewer/2022070605/5a4d1ad67f8b9ab0599733fb/html5/thumbnails/1.jpg)
Project Management
Unit 1Fundamental Concepts
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Definition of A Project
A temporary endeavor undertaken to create a unique product or service (PMBOK®).
A planned effort leading to the delivery of a unique product or service, meeting or exceeding the customer expectations, within the agreed upon cost and timeframe.
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Key Features Temporary (a beginning and end) Unique product or service Progressive Elaboration (developing in
steps..example :project scope. Planned, executed, and controlled Aimed at meeting or exceeding
customer expectations Limited resources (Time, Cost, and …)
available
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Discuss
Give an example of project where you were involved. Does it satisfy the definition components of
a Project ?
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Why Project Management For SUCCESSFUL projects. A successful project is one that:
Contains all the features agreed upon Is within the accepted time frame Is within budget Meets customer expectation Leaves behind a motivated productive team No “surprises” throughout Is reasonably resilient to “unknown” factors Integrates required outside component(s) to
make it “complete” Follows a pre-defined process to “bind” all factors
together leading to synergy.
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Kno
wle
dge
Are
asScope
Time Cost
Quality
Human ResourcesCommunication
Risk
Procurement
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Known Causes of Project Failure Some Major Known Causes
Changing requirements Incomplete requirements Inadequate planning Unrealistic customer expectations Lack of customer involvement Inadequate resources Uncontrolled quality problems Adoption of new technology Inaccurate estimates Ineffective project control (risk, issue, change
management)
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Project Success
Project Success involves Effective Planning Execution as per plan Controlling during execution
Other two complementary phase groups Initiating Closing
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Project Constraints
Time Scope
Cost
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Exercise
Distinguish among PROJECT OPERATION PROGRAM : Groups of projects
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Project Management Process Groups Initiating Planning Executing Monitoring & Controlling Closing(Information flow within these process
groups: Refer PMBOK® Figure 3-4)
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Project Lifecycle A project may go through a set of
phases through its lifecycle. Phases dependent on the type of project Example : Feasibility, Planning and
Design, Construction, Turnover and Startup phases in Construction Industry
Each phase may have one or more of the processes associated.
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Taken from PMBOK
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Project Stakeholders
All individuals who are involved in various project phases who may influence the course of action
anytime during the projectExample:
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Process Groups Initiation:
Acknowledges that a project or a phase can start.
Commitment to putting resources in action for the project
Planning: Very important, since all subsequent
processes depend on the planning processes. Encompasses all knowledge areas.
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Executing Translates plans into actions Costs are highest during the execution
phase Monitoring & Controlling
Monitoring the performance parameters throughout to make sure the project is close to what was planned
Corrective actions for variances Closing
Formal acceptance Lessons learnt for future reference
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Types of Organization Structures Functional Projectized Matrix
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Functional Organizations
A number of departments Hierarchical structure within a
department Projects spanning across multiple
function areas are divided, and then worked upon
Little authority for Project Manager.
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Taken from PMBOK
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Projectized Organizations
Everything revolves around a project. Project Manager has the highest
authority in these organizations. Each project has its own team members
and staff assigned to it.
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Taken from PMBOK
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Matrix Organizations
Features of both Functional and Projectized organizations.
Project Manager at same level as the Functional Manager.
Employees report to Functional Manager AND Project Manager.
Refer Figures 2-9, 2-10, 2-11.
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Influence of Org Structure
Taken from PMBOK