The document provides an overview of project management. It defines a project as a temporary set of activities undertaken to create a unique product or service. Key aspects of project management include integration, scope, time, cost, quality management, human resources, communication, risk management, and procurement. The document also discusses why project management is important for organizations and different methods for selecting projects.

1. Project Management
Chapter 1
Muhammad Yasir Saeed Qazi

2. What is Project?
• A unique set of coordinated activities, with a definite start and
finishing point, undertaken by an individual or organization to meet
specific objectives with defined, scheduled cost and performance
parameters.
• Temporary endeavors undertaken to create unique products, services
or results. (Project Management Institute, 2008)

3. Attributes
• Unique Purpose
• Temporary
• Require Resources, Often From Various Areas
• Should Have a Primary Sponsor and/or Customer
• Involve Uncertainty

4. Project Vs. Operations
Operations are repetitive, on going and produces
same results.

5. Project Vs. Program And Portfolio
• A project is a temporary endeavor undertaken by a company or
organization (such as the creation of a new product, service, or result)
• A program is a group of projects that are similar or related to one
another, and which are often managed and coordinated as a group
instead of independently
• A portfolio is a group of different programs and/or projects within the
same organization, which may be related or unrelated to one another
Put another way, projects fit within larger programs, which themselves
fit within portfolios.

6. Examples Of A Project, Program, And
Portfolio In The Construction Industry:
Project: Constructing a new office building
constructing a new office building involves a project manager, a team of
construction workers, and a specific budget and timeline to complete the
building.
Program: Developing a new mixed-use complex
a construction program could be developing a new mixed-use complex
that includes multiple projects such as design, construction, financing,
and leasing.

7. Cont'd
Portfolio: Managing a real estate development portfolio
For example, managing a real estate development portfolio could
involve multiple construction projects and programs, such as investing
in commercial and residential properties, managing land development,
and overseeing the construction of multiple buildings.

8. Management
The planning, organizing, leading and controlling of human and non
human resources to achieve the organization goals efficiently and
effectively.

9. Project Management
Project Management
The PMBOK Guide defines project management as the application of
knowledge, skills, tools and techniques to project activities to meet
project requirements.
In other words, it involves planning, organizing, monitoring and
controlling the project activities in order to accomplish the project
requirements.

10. Program Management
Program Management
Program Management is a method to manage related groups of projects.
(PMI)
PMI defines it as
“A group of related projects managed in a coordinated way to obtain
benefits and control not available from managing them individually.
Programs may include elements of related work outside scope of the
discrete projects in the program.” – PMBOK pg 368.

11. Project Management Institution (PMI)
Project management institution is an organization which provides
different standards that describe good practices, globally recognized
credentials that certify project management expertise, and resources for
professional development, networking and community.
PMI is one of the world’s largest not-for-profit membership associations
for the project management profession.

12. PMBOK
The Project Management Body of Knowledge (PMBOK) is a collection
of processes and knowledge areas generally accepted as best practice
within the project management discipline.

13. The Triple Constraints
Projects are traditionally described as having three constraints.
1. Quality: the standard of the outcomes to be achieved
2. Cost: the amount of money it will take to complete the project
3. Time: the amount of time available for the project

16. Type of Project Product of Project (Examples)
1.Administrative Installing a new accounting system
2.Construction A building or road
3.Computer Software Development A new computer program
4.Design of Plans Architectural or engineering plans
5.Equipment or System Installation A telephone system or IT system
6.Event or Relocation Olympiads or a move into a new building
7.Maintenance of Process Industries Petro-chemical plant or electric generating station
8.New Product Development A new drug or aerospace/defense product
9.Research A feasibility study or investigating a chemical

17. Different Components of Project
Management
Project Integration Management
Processes required to ensure that various elements of the project are
properly coordinated.
Example:
Let's say you're planning a surprise birthday party for your friend. You would
need to coordinate various aspects of the party, such as the guest list, the
location, the decorations, the food and drinks, and the entertainment. You
would create a plan that outlines all these elements and how they will come
together to create the perfect party. As you move forward with the planning,
you would monitor progress, take corrective action as necessary, and
communicate with other party planners to ensure everything runs smoothly.

19. Different Components of Project
Management
Project Integration Management
Processes required to ensure that various elements of the project are
properly coordinated.
Project Scope and Time Management
Processes required to ensure that the project includes all the work required
to complete it successfully in stipulated time.
Project Cost and Quality Management
Processes required to ensure quality and that the project is completed
within the approved budget.

20. Project Human Resource and Communication Management
Processes required to make the most effective use of the people involved in
the implementation of the project.
Project Risk Management
Processes required to focus on the future where uncertainty exists and
develop suitable plans of action to prevent potential issues from adversely
impacting the project.
Project Procurement Management
Includes the processes to purchase or acquire the products or services needed
from outside the project team to perform the work.

21. Why Project Management?
• Companies have experienced:
• Better customer relations
• Shorter overall delivery times
• Lower costs and higher profit margins
• Higher quality and reliability
• Higher worker morale

22. Why (NOT) Project Management?
• Companies have also experienced some negatives:
• Greater organizational complexity
• Increased likelihood of organizational policy violations
• Higher costs
• More management difficulties
• Low personnel utilization

23. Selecting Projects
Project selection is the process of evaluating individual projects or
groups of projects and then choosing to implement a set of them so that
the objectives of the parent organization are achieved.

24. Project Selection Conditions
These conditions vary widely from firm to firm, but several are quite
common:
(1) Is the project potentially profitable?
(2) Does the firm have, or can it easily acquire, the knowledge and skills to
carry out the project successfully?
(3) Does the organization possess building competencies
(4) Does the organization currently have the capacity to carry out the project
on its proposed schedule?
(5) In the case of R&D projects, if the project is technically successful, does
it meet all requirements to make it economically successful?

25. Methods of Selecting Projects
Two Fundamental Methods of Selecting Projects
1. Nonnumeric Selection Method
2. Numeric Selection Method

26. Nonnumeric Selection Method
• The Sacred Cow – The project is suggested by a senior or powerful
official in the organisation
• The Operating Necessity – A project that is required in order to protect
lives or property or to keep the company in operation
• Competitive Necessity – A project that is required in order to maintain
the company’s position in the marketplace