Session 1 Introduction

Project

A temporary endeavor undertaken to create a product, service or result

Project Characteristics

Temporary Unique Products, Services or Results Project Elaboration

Temporary Definite Beginning and Definite Ending End Objective is achieved Objectives will not be met Need no longer exists terminates

Temporary nature of the projects may apply to other aspects The opportunity or market window is temporary The project team rarely outlives the project

Unique Products, Services or Results Projects can create

Unique deliverables

A product Object Produced, quantifiable End in itself Component Item

Capability to perform a service Outcomes or Documents

Progressive Elaboration Accompanies concepts of temporary and unique Developing in steps and continuing by increments In two different application areas o Development of a chemical processing plant o Product of an economic development project

Projects vs Operational Work Performed by people Constrained by limited resources Planned, executed and controlled Operations Ongoing, repetitive Projects - Temporary, Unique

Objectives of Projects and Operations Projects attains its objective and terminates Ongoing operation sustains the business Project concludes when its specific objectives are attained Operations adopts a new set of objectives and the work continues

Examples of projects Developing a new product or service Effecting a change in structure or style of an organization Designing a new transportation vehicle Developing or acquiring a new or modified information system Constructing a building or facility

Projects are a means of Organizing activities Achieving an organizations strategic plan Project Team Employed by the organization Contracted service provider

Projects are authorized as A market demand An organizational need A customer request A technological advance A legal requirement

PM Application of knowledge, skills tools and techniques Accomplished through the application and integration of PM processes by Project Manager

Managing a project includes Identifying Requirements Establishing clear and achievable objectives Balancing the competing demands Adapting the specifications, plans

Project Manager Triple Constraint Scope, Time and Cost Manages in response to Uncertainty Project Risk

The Project Management Body of Knowledge Application area knowledge, standards and regulations Understanding the project environment General management knowledge skills Interpersonal skills

Application area knowledge, standards and regulations Functional departments and supporting disciplines Technical elementts Management specializations Industry groups

Understanding the project environment Cultural and social environment International and political environment Physical environment

General management knowledge and skills Financial management and accounting Purchasing and procurement Sales and marketing Contracts and commercial law Manufacturing and distribution Health and safety practices Information technology

Interpersonal skills Effective communication Influencing the organization Leadership Motivation Negotiation and conflict management Problem saving