PROJECT ANALISYSI AND EVALUATIONS

1. PROJECT ANALYSIS AND EVALUATIONS
ACFN 613 CREDIT=3
M. SC., ACCOUNTING AND FINANCE
SECOND YEAR- FIRST SEMESTER
CHAPTER-ONE
AN OVERVIEW OF PROJECT MANAGEMENT
PROF.DR.CHINNIAH ANBALAGAN
PROFESSOR OF ACCOUNITNG AND FINANCE
COLLEGE OF BUSINESS AND ECONOMICS
SAMARA UNIVERSITY, AFAR, ETHIOPIA EAST
AFRICA
MAIL ID: DR,CHINLAKSHANBU@GMAIL.COM

2. Introduction Project Management
• Project Management is a problem-based, interdisciplinary course
in project management skills and techniques that are needed to
successfully manage projects in a modern business environment.
• The challenges of solving problems, tracking projects, and
practicing leadership.
• You will learn how to effectively use computer-based scheduling
and tracking software to keep timetables and schedules.
• You will also see why it is important for project managers to be
able to respond to a wide variety of demands and to understand
people and behavioural skills.
• In addition, we will discuss the definition of project, give some
examples of projects of different types and discuss the place of
project management in overall corporate strategy in this topic.
• We will cover project life cycles and different models of project
success.
• Finally, we will discuss project management in the context of
organizational structure.

3. conti…
• Project management (PM) is a process or
framework for leading a team through the
successful completion of a project, on time and
within budget.
• A project is any set of related tasks, deliverables,
and activities that collectively accomplish a single
goal.
• Project roles include a project manager, team
members, internal and external stakeholders, and
clients.
• Most project managers use specialized PM
software to help visualize timelines, organize tasks,
align teams, and report on progress.

4. Objectives
• To Understand why project management is
becoming such a powerful and popular
practice in business today.
• To Recognize the basic properties of projects,
including their definition.
• To Understand why effective project
management is such a challenge; that is, the
reasons why project management is becoming
increasingly popular and the constraints that
make it such an important but difficult
undertaking.

5. Conti….
• To Differentiate between project management practices
and more traditional, process-oriented business functions.
• To Recognize the key motivators that are pushing
companies to adopt project management practices.
• To Understand and explain the project life cycle, its stages,
and the activities that typically occur at each stage in the
project.
• To Understand the concept of project success, including
various definitions of success (e.g., the triple constraint),
as well as the alternative models of success.
• To Understand the various forms of organisation structure
and their potential impact on project success.

6. Definitions of Project Management
• One of the earliest definitions of project
management was provided by the Project
Management Institute (PMI), which defines it as
“the application of knowledge, skills, tools, and
techniques to project activities to meet project
requirements.”
• PMI further states that project management
involves “five process groups: initiation,
planning, execution, monitoring and controlling,
and closure.”

7. Henri Fayol
• According to Henri Fayol, who is often
considered the father of modern management,
defined project management as the
“coordination and direction of
all activities concerned with the production of a
product or service.”
• Fayol also identified five key functions of
management, which are closely related to
project management: planning, organizing,
commanding, coordinating, and controlling.

8. J.L. Meredith and Samuel J. Mantel
• According to J.L. Meredith and Samuel J.
Mantel, define project management as
“the process of defining, planning, and
tracking the unique goals, tasks, and
resources required to complete a project
successfully.”
• They further state that project
management involves “three basic
elements: time, cost, and performance.”

9. James P. Lewis
• According to James P. Lewis, defines
project management as “the art and
science of getting things done through
people.”
• He argues that project management is not
just about managing processes and
resources, but also about managing
people and their expectations.

10. Max Wideman
• According to Max Wideman, defines
project management as “the application
of a collection of tools and techniques to
control and coordinate the efforts of a
team of people in order to achieve
specific project objectives.”
• He notes that project management
requires the ability to balance the
competing demands of scope, time, cost,
quality, resources, and risk.

11. Various Elements of This Definition
• Projects are complex, one-time processes
• Projects are limited by budget, schedule,
and resources
• Projects are developed to achieve a clear
goal or set of goals
• Projects are customer-focused

12. Michael Port
• According to Michael Port defines
project management as “the process of
leading a team of people to achieve a
specific goal, within a specific timeframe,
and within budget.”
• He notes that project management
requires the ability to balance the
competing demands of scope, time, cost,
quality, resources, and risk.

13. Phases of Project Management
• According to the PMBOK Guide (Project
Management Body of Knowledge) by the
Project Management Institute (PMI), a
project management life cycle consists of 5
distinct phases including initiation,
planning, execution, monitoring, and
closure that combine to turn a project idea
into a working product.

14. Five phases of Project Management
• The 5 basic phases in the project
management process are:
• Project Initiation
• Project Planning
• Project Execution
• Project Monitoring and Controlling
• Project Closing

15. Five phases of Project Management

17. Phase 1: Project initiation
• The project initiation phase is the first stage of
turning an abstract idea into a meaningful goal.
• In this stage, you need to develop a business
case and define the project on a broad level.
• In order to do that, you have to determine the
need for the project and create a project
charter.
• The project charter is an important document
consisting of details like the project constraints,
goals, appointment of the project manager,
budget, expected timeline, etc.

18. Phase 2: Project planning
• The project planning stage requires
complete diligence as it lays out the
project’s roadmap.
• Unless you are using a modern project
management methodology like agile
project management, the second phase
of project management is expected to
take almost half of the entire project’s
timespan.

19. S.M.A.R.T Goals
• The ‘SMART’ criteria ensure that the goals you set
for your project are critically analyzed. It is an
established method that reduces risk and
allows project managers to make clearly defined
and achievable goals.

20. C.L.E.A.R. Goals
The ‘CLEAR’ method of setting up goals is designed
to cater to the dynamic nature of a modern
workplace. Today’s fast-paced businesses require
flexibility and immediate results and CLEAR can
help citizen developers with that.

21. Phase 3: Project execution
• The project execution stage is where your team
does the actual work.
• As a project manager, your job is to
establish efficient workflows and carefully
monitor the progress of your team.
• Another responsibility of the project manager
during this phase is to consistently maintain
effective collaboration between project
stakeholders.
• This ensures that everyone stays on the same
page and the project runs smoothly without any
issues.

22. Phase 4: Project Monitoring and
Controlling
• In the project management process, the third
and fourth phases are not sequential in nature.
• The project monitoring and controlling phase run
simultaneously with project execution, thereby
ensuring that objectives and project
deliverables are met.
• As a project manager, you can make sure that no
one deviates from the original plan by
establishing Critical Success Factors (CSF) and Key
Performance Indicators (KPI).

23. Phase 5: Project closing
• This is the final phase of the project
management process.
• The project closure stage indicates the end
of the project after the final delivery.
• There are times when external talent is
hired specifically for the project on
contract.
• Terminating these contracts and
completing the necessary paperwork is
also the responsibility of the project
manager.

24. Determinants of project success
• Time
• Cost
• Performance
• Client acceptance

25. Project Environment
• A project environment is all the internal
and external forces that exert on your
project management.
• These are things from inside and outside
the project that can impact your
schedule, budget, team morale and
much more.

26. Contemporary Business Environment
• The contemporary business environment
is a process where the market changes
quickly and it is essential for the leaders
and managers to make sure that they are
handling the change to increase business
and develop results.

27. The Elements Of The Contemporary
Business Environment
• The business environment is the sum of
all external factors that affect the
organization.
• It includes macro-environmental factors
such as political, economic, social and
technological results, as well as micro-
environmental factors such as the firm's
suppliers, clients and rivals.

28. The Scope Of Project Environment
• Project scope is the part of project
planning that involves determining and
documenting a list of specific project goals,
deliverables, tasks, costs and deadlines.
• The documentation of a project's scope is
called a scope statement or terms of
reference.

29. The Five Elements of A Business Environment
• The 5 components of a business
environment are:
• Economical environment.
• Political environment.
• Social environment.
• Technological environment.
• Legal environment.

30. External Environment

31. External Environment
• It includes market conditions, social and
cultural influences and issues, legal
restrictions, commercial databases,
academic research, government or
industry standards, financial
considerations, and physical
environmental elements

32. Elements of the Business Environment
• The two major components of the
business environment?
The environment of the firm can be divided
into two: (1) Internal environment (micro
environment) and (2) External environment
(macro environment).

33. Components of the Business Environment
• The seven components of the business
environment.
• This external business environment is
composed of numerous outside
organizations and forces that we can group
into seven key sub environments, as
illustrates: economic, political and legal,
demographic, social, competitive, global,
and technological.

34. The Factors Affecting the Business
Environment

35. Responsibilities of the Project Manager
• The project manager, operating within agreed reporting
structures, is responsible for:
• designing and applying appropriate project management
standards for incorporation in the NI Gateway Review
Process
• managing the production of the required deliverables
• planning and monitoring the project
• adopting any delegation and use of project assurance
roles within agreed reporting structures
• preparing and maintaining project, stage and exception
plans as required
• managing project risks, including the development of
contingency plans

36. Conti…
• liaison with programme management and related projects to ensure
that work is neither overlooked nor duplicated
• monitoring overall progress and use of resources, initiating corrective
action where necessary
• applying change control and configuration management processes
• reporting through agreed lines on project progress through highlight
reports and end-stage assessments
• liaison with appointed project assurance representatives to assure the
overall direction and integrity of the project
• maintaining an awareness of potential interdependencies with other
projects and their impact
• adopting and applying appropriate technical and quality strategies and
standards
• identifying and obtaining support and advice required for the
management, planning and control of the project
• managing project administration
• conducting a project evaluation review to assess how well the project
was managed
• preparing any follow-on action recommendations

37. Skills and attributes needed to be a
Project Manager
• The project manager should be able to:
• apply a PRINCE2 project management approach to the specific
requirements of the project
• establish a good working relationship with the Senior
Responsible Owner
• direct, manage and motivate the project team
• develop and maintain an agreed project plan and detailed
stage plans
• understand and apply business case and risk management
processes
• tailor expert knowledge to meet specific circumstances
• plan and manage deployment of physical and financial
resources to meet project milestones
• build and sustain effective communications with other roles
involved in the project
• apply quality management principles and processes

38. Roles in Project Management

39. Project of Roles
• 1. Project Sponsor
• 2. Project Manager
• 3. Senior Project Manager
• 4. Project Coordinator
• 5. Project Administrator
• 6. Project Analyst
• 7. Project Director
• 8. Project Management Consultant
• 9. Project Officer
• 10. Project Executive
• 11. Creative Project Manager
• 12. Change Control Board
• 13. Steering Committee
• 14. Project Management Office (PMO)
• 15. Project Owner
• 16. Project Leader
• 17. PMO Director
• 18. Project Team Members

41. The Importance Of Project Management
• Efficiency
• Improved growth and development
• Higher output
• Better deliverables
• Simplified communication
• Increased flexibility
• Stronger organization

42. The Core Components Of Project
Management
Different aspects of a project need to be
managed to ensure
• effective coordination and control over
resources,
• timelines,
• stakeholders,
• risks, and
• deliverables.

43. Components of Project management
• Integration management
• Scope management
• Time management
• Cost management
• Quality management
• Resource management
• Communication management
• Risk management
• Procurement management

44. Types of Project Management
• Waterfall project management
• Agile project management
Scrum and
Kanban.
• Six sigma project management
• Critical Path method management

45. Building A Strong Project Management Team
To build a project team with good communication,
you’ll need to focus on a few key points:
• Planned or regular meetings
• The level of formality in meetings
• Whether meetings will be held in person,
virtually, or both
• How the team will share and collaborate on
documents
• Where documents will be stored and how
versions will be controlled
• Workflows for decisions and approval

46. Key Steps To Build The Team
• Recruit talent across departments
• Choose a project manager wisely and define
responsibilities accurately
• Set an all hands on deck expectation

47. THANKS
• END OF CHAPTR ONE