PROJECT MANAGEMENT• A temporary yet an earnest endeavor undertaken to create a unique product or service…….. PROJECT• The application of knowledge, skills, tools, and techniques to meet project objectives i.e. successful and timely conclusion – PROJECT MANAGEMENT
ROLE PLAY A project manager heads a core group of personell assigned from two or more functional units of the organization. Project Team is usually cross-functional in nature and is expected to accomplish assigned tasks.
PROJECT ELEMENTS• Scope• Schedules• Resources• Personnel• Risk and problem analysis• Organization Culture
WBS & RAM• Organizational Breakdown Structure (OBS) – A chart that shows which organizational units are responsible for work items• Work Breakdown Structure (WBS) -Breaks a project into components, subcomponents, activities, and tasks• Responsibility Assignment Matrix (RAM) – Shows who is responsible for which task in a project
TASK INTERDEPENDENCY SCENARIO• Finish-to-Start (FS) – B cannot start till A finishes• Start-to-Start (SS) – B cannot start till A starts• Finish-to-Finish (FF) – B cannot finish till A finishes• Start-to-Finish (SF) – B cannot finish till A starts (rare)
PROJECT SCHEDULING• Split project into tasks and estimate time and resources required to complete each task.• Organize tasks concurrently to make optimal Use of workforce.• Minimize task dependencies to avoid delays caused by one task waiting for another to complete.• Dependent on project managers experience & intuition.
GANTT CHART• Graph or bar chart• Bars represent the time for each task• Bars also indicate status of tasks• Provides visual display of project schedule• Slack – Amount of time an activity can be delayed without delaying the project
PERT (Program Evaluation & Review Technique)• Estimation of a task duration
GENERAL MANAGEMENT SKILLS• Planning• Finance and Accounting• Technology• Delegation• Team Building• Conflict Management• Solving Problems
LEADERSHIP SKILLS• Vision and Strategy• Establishing Direction• Aligning People• Communicating• Negotiating• Motivating and Inspiring• Overcoming Barriers
COMMUNICATION SKILLS• Writing• Listening• Speaking• Presenting• Meeting Management
RISK MANAGEMENT• Risk management is concerned with identifying risks and drawing up plans to minimise their effect on a project.• A risk is a probability that some adverse circumstance will occur – Project risks affect schedule or resources; – Product risks affect the quality or performance
THE RISK MANAGEMENT PROCESS• Risk identification – Identify project, product and business risks;• Risk analysis – Assess the likelihood and consequences of these risks;• Risk planning – Draw up plans to avoid or minimise the effects of the risk;• Risk monitoring – Monitor the risks throughout the project;
SUMMARY – KEY POINTS• Good project management is essential for project success.• Managers have diverse roles but their most significant activities are planning, estimating and scheduling.• Planning and estimating are iterative processes which continue throughout the course of a project.
SUMMARY – KEY POINTS• A project milestone is a predictable state where a formal report of progress is presented to management.• Project scheduling involves preparing various graphical representations showing project activities, their durations and staffing.• Risk management is concerned with identifying risks which may affect the project and planning to ensure that these risks do not develop into major threats.