INTRODUCTION TO PROJECT MANAGEMENT

PJM Midterm Pawan Kaura B10034

What is a project?

A project is a temporary endeavor undertaken to produce a unique product or service Like building of a dam or cutting some shapes What are the differences between projects and operations?

Characteristics of Operations
Ongoing Continuous cycle Repetitive Expected inputs and outputs

Characteristics of Projects
Temporary Definitive beginning and end. Unique New undertaking, unfamiliar ground (relate to dam building and shape cutting exercise)

When is a project successful?

Customer Requirements satisfied/exceeded Completed within allocated time frame Completed within allocated budget Acceptance by the customer

What is Project Management?

Project Management is the application of skills, knowledge, tools and techniques to meet the needs and expectations of stakeholders for a project
The

purpose of project management is prediction and prevention, NOT recognition and reaction Successful Project Management involves delivery of whats expected:

On time Within budget With quality Develop productive relationships

Key areas of Project Management

Scope Management- cutting desired no of shapes Issue Management- how many to cut of each
shape

Cost Management- how many scissors etc to

purchase

Quality Management- shapes to meet required

dimensions Communications Management- tracking information flow Risk Management- minimum no of pieces not getting cut

Sample Project Life Cycle

Initiation Phase Defining the need and budget requirement Definition Phase Defining project scope and functional requirements Planning Phase Resource planning and WBS Implementation Phase Training plan and quality assurance Deployment Phase User training and production review Closing Phase Contractual closeout and post production transition
Review the above w.r.t. Hoover Dam project and the shapes assignment

Trade off Triangle: The Fundamental problem

Project quality is affected by balancing the triple constraints of scope, time and cost Know which of these are fixed and variable for every project Project success means completing all project deliverables on time, within budget, and to a level of quality that is acceptable to sponsors and stakeholders.

For the shapes, time and cost were more critical than scope For the Hoover Dam project, scope and cost were more critical than time

Stakeholder Management - Power/ Interest Matrix

Managing a project involves several stakeholders some more critical than others The matrix helps categorize stakeholders with increasing power and interest in the project Stakeholders that lie in the Manage Closely quadrant can easily ensure project failure. E.g., Government in the Hoover Dam Project

Questions ??