Fundamentals of project management july 7, 2012 revisedPresentation Transcript
FUNDAMENTALS OF PROJECT MANAGEMENTProject Life CycleOverview of Project InitiationKey Project Initiation Deliverables andInputsLimitations of the ProjectInitiation Phase of the Project
What is ProjectManagement? It is the acquired knowledge andskills applied using a formal setof tools and techniques toinitiate, plan, execute, monitor, control and close projects.
Project Management objectivesCoordinate the various interrelatedprocesses of the project.•Ensure project includes all the workrequired, and only the work required, tocomplete the project successfully.•Ensure that the project is completed ontime and within budget.
Project Management objectivesEnsure that the project will satisfy theneeds for which it was undertaken.Ensure the most effective use of thepeople involved with the project.Promote effective communicationbetween the projects team membersand key stakeholders.
PROJECT LIFE CYCLErefers to a logicalsequence of activities toaccomplish the project’sgoals or objectives.
PROJECT LIFE CYCLE Post- implementation phase Initiation PlanningExecution/Controlling Phase Closure
PROJECT LIFE CYCLE InitiationIn this phase the project scope and timing aredetermined. Scope means all the things thatmust be considered are accounted for (such asbudget, time allotment, etc.) and those that arenot mandatory for the success of the projectmust be excluded so as to keep the plan on trackin terms of time, budget and stakeholderexpectations.
PROJECT LIFE CYCLE Planninginclude a detailed identificationand assignment of each task until theend of the project. It should also includea risk analysis and a definition of acriteria for the successful completion ofeach deliverable. The governance processis defined, stake holders identified andreporting frequency and channels agreed.
PROJECT LIFE CYCLE Execution /Controlling PhaseThis portion is usually the longest portion of theproject life cycle and will consume the greatestamount of resources. In this phase, the actionitems in the project plan are accomplished andthe physical deliverables are achieved. Thisphase also shows the implementation ofmanagement processes to ensure thattime, cost, quality, change, risks, procurementsand any grievances or issues are addressed.
PROJECT LIFE CYCLE Closure phaseThis phase is the wrap-up phase. The projectis formally closed and final reports thatsummarize the project’s successes andlessons learned delivered to the stakeholders.This phase also shows the return of allequipment, the closure of human resourcecontracts, and the transfer of documentationand deliverables to the customer orstakeholders.
PROJECT LIFE CYCLEPost-Implementation PhaseMany companies choose to add on one extraphase to the basic project life cycle structure: thePost-Implementation Phase. One to threemonths after the completion of theproject, a Post-Implementation report is createdto evaluate the success of the project andproduct now that the company has had a chanceto evaluate the success of the implementation.
PROJECT LIFE CYCLEPost-Implementation PhaseMany companies choose to add on one extraphase to the basic project life cycle structure: thePost-Implementation Phase. One to threemonths after the completion of the project,a Post-Implementation report is created toevaluate the success of the project and productnow that the company has had a chance toevaluate the success of the implementation.
Key Project initiationDeliverablesPROJECT/BUSINESS CASEDemonstrate the business need for a givenaction;Confirms that a project is feasible beforeexpending significant funding;Considers the strategic internal and externaldrivers for the project; andAssesses, compares and contrasts the costsand benefits (both monetary and non-monetary)of choosing one course of action over another.
Key Project initiationDeliverablesPROJECT PRE-FEASIBILITYis done to determine whether or not it isnecessary for a detailed feasibility studyHave exploratory framework character butusually evolve into full pledged feasibilitystudies
Key Project initiationDeliverablesPROJECT FEASIBILITYIt is done with the purpose of deter-miningwhether or not it a project should be under-taken. A formal study is typically performedon large, complex projects.It can be very detailed and explicit, spanningvolumes in some cases. They look atalternative solutions and come up with thebest possible one
Key Project initiation DeliverablesPROJECT PRELIMINARY SCOPESTATEMENT It provides an indication of the project deliverables and serves as a guide for developing the detailed project scope statement and for planning the project.
Key Project initiation DeliverablesPROJECT CHARTERThe Project Charter provides theProject Manager and Project Teamwith the authority to use resourcesfor the purpose of undertaking theproject.The Project Charter is usually shortand is issued by the Project Sponsoror a senior official outside the levelof the project organization.
Key Project initiation DeliverablesPROJECT CHARTER – Project Background – Purpose for undertaking the project – Project Justification – Requirements – Stakeholder expectations from the project – Assumptions and Constraints – Project Organization – Stakeholder Roles and Responsibilities – Schedule and milestones – Indication of budget – Supporting infrastructure
Limitation of the Project InitiationPhase In the project initiation phase, a typical and serious limitation is the lack of available of “quality information” which exists about the project – especially for complex projects and projects of a kind which have not been attempted before. At initiation a project’s feasibility, outcomes, scope, requirements and specifications, cost, time and risks, stakeholders, resource needs etc. are often not known with a high degree of precision with the result that the project may take longer, cost more and generally be more difficult to do than first thought when it was considered and accepted.
The Initiation Phase of a ProjectAWARENESS OF A NEEDAll projects are conceived and undertakenin response to some need (problem,opportunity) – internal, external, legal andother.
The Initiation Phase of a ProjectPROJECT OUTCOMESAll projects have outcomes that are realizedsubsequent to (and sometimes during) theircompletion. Some outcomes can be easy toquantify while others may not.Project outcomes may be positive and/ornegative and multifaceted. A negativeoutcome could be the project’s adverseenvironmental impact.
The Initiation Phase of aProjectProject Strategic DimensionThe projects which any organization inthe commercial and public-sectorundertakes must have a “strategic fit” – itmust be consistent with theorganization’s mission, goals andobjectives so that it can “add value” to it.
The Initiation Phase of aProjectProject Goal, Objectives, Cost, TimeEvery project has one goal which is theultimate destination of all project initiation,planning, execution and other activities.All projects necessarily incur cost and requiretime (per definition). Despite the existence ofseveral estimation methods, accurate initialassessment of a project’s cost and time needcan be challenging.
The Initiation Phase of aProjectProject Scope and Key DeliverablesThe goal of a project determines its scope.Scope can be a tricky issue which may causecomplications if it not carefully defined. Indetermining a project’s scope, numerousrequirements and specifications (possiblysubject to change over the course of theproject) may be inputs.Key deliverables of a project are the finalcomposite deliverables.
The Initiation Phase of aProjectProject Requirements and SpecificationsRequirements and specifications are keyelements of any project. The success or failureof the project is assessed largely in terms ofthe extent to which it satisfies itsrequirements and specifications.Requirements and specifications imply that aproject’s deliverables must exhibit certaindefined capabilities in terms of appearance,function, performance etc.
The Initiation Phase of aProjectProject ResourcesNo project can be attempted unless therequisite resources have been made availableby the project sponsor and client.Resource consumption ultimately results in afinancial cost but even having abundant fundsdoes not mean that the resources specificallyneeded for the project in question areavailable.
The Initiation Phase of aProjectProject StakeholdersProject Stakeholders may range from very fewin number to many millions. Their interest inand attitude and behavior towards the projectin question may also vary considerably.When initiating any project, it is essential thatthe key stakeholders are identified and theirstake in the project documented.
The Initiation Phase of aProjectProject RisksRisks are a defining element of projects.Complex projects in particular harbornumerous and diverse risks and if these risksturn into events, they may endanger a project.When initiating any project it is essential tounder-take an initial analysis of the risksinherent to the project, seeking in particular toidentify those risks that may have a bearing onthe project in the course of its life-cycle..
The Initiation Phase of aProject(Project Assumptions and Constraints) Assumptions may constitute the basis for the subsequent planning and execution of the project.Constraints are factors which have a limitingeffect on how the project is undertaken. Theseinclude for example constraints with regard toproject policies, recruitment andselection, reporting, financialoutlays, completion of activities etc.
The Initiation Phase of aProject(Project Policies, Processes, Systemsetc.)When considering a new project carefulthought must therefore, be given towhether the project can be supported tothe extent it requires through theorganization’s existing assets.