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ACE-FUELS- 801- PROJECT MGT for real estate
1. CODE: MGT 801 PROJECT
MANAGEMENT BASIC
Lecturer’s Name : DR K.E UGWU
2. Course Description
Learning objectives of this season:
By the end of this session, the participants will be able to:
Identify the Origin of Project Management.
Look at characteristics of a Project.
Define Project Management and role of a project manager.
Explain Project Design and Management Cycles
Describe Project Implementation Plan (PIP).
The class will last for 2 hours which will be divided into 50 minutes
season and 10 minutes break in between from the time lecture
started.
3. Origin of a Project Management
Historically, project Mgt originated between 1900 -1950s. Two
founding fathers are Henry Gantt and Henri Fayol. Gantt
became famous and considered as the father of planning and
control techniques. Gantt chart was utilized as tool for project
scheduling and resource allocation in contemporary
organizations around the world. It shows project start and end
dates.
Henri Fayol was a French Mining Engineer and executive in a
mining firm. He is a father of modern management theory and
the first to develop 14 management Principles.
4. Origin of Management Continued
Henri Fayol formulated 14 management principles stated below.
(1). Division of labor (2) authority/responsibility, (3) discipline,
(4) unity of command, (5) unity of direction, (6) subordination of
individual interest over general interest, (7) remuneration, (8)
centralization, (9) scalar chain, (10) order, (11) equity, (12) stability
of tenure, (13) initiation and (14) espirit de corps.
5. What is Project Management?
According to the PMBOK (Project Management Body of Knowledge) 3rd
edition, A project is defined as a “temporary endeavor with a beginning
and an end. It is used to create a unique product, service or result”.
Furthermore, projects are those activities that cannot go on indefinitely
and must have a defined purpose.
A project is an activity to create something unique. For instance, many of
the office buildings that are constructed are similar in many respects but
each individual facility is unique in its own way.
This means that the project progresses in steps and continues
by increments. The definition of the project is refined at each
step and ultimately the purpose of the progress is enunciated.
6. The Origin and Meaning of a Project
This means that a project is first defined initially and then as the
project progresses, the definition is revisited and more clarity is
added to the scope of the project as well as the underlying
assumptions about the project.
The phases of a project make up the project life cycle.
The purpose of a project is for control and tracking purposes. It
is convenient for the project managers to divide the project into
phases for monitoring and evaluation. Each milestone at each
stage is then elaborated and tracked for completion.
7. Characteristics of a Project
Projects are Specific. Every projects must have a defined aims
or objective which set out to produce clearly results. Their
purpose is to be completed on time and within a prescribed
quality requirement and budgeted cost.
Projects are realistic. It must be achievable, and requires
financial and human resources available for execution.
Projects are timeline. A project has a definite time line with a
measurable starting and end point. It is time bound and must be
managed within a time frame.
8. Characteristics of a Project Contds
Projects are complex in nature. It requires planning and implementation skills, and
involve various partners and players. It requires creative thinking and use of different
methodologies (expertise) for completion.
Projects are collective: Project management requires diverse team stretching across
departments and functions. A good project requires collective effort. It requires team
work and often involve various partners and cater for the needs of others (Amadou, N.
D)
Projects are unique. All projects stem from new ideas. It provides a specific response
to a need (problem) in a specific context. The purpose of a project must be “to create
a unique product, service, or result.” This means a project will be started in order to
accomplish a specific goal that is typically outside the realm of the typical day-to-day
business operation. This means, the project team might include people who don’t
usually work together, and require resources that are typically outside the scope of
day-to-day operations.
9. Project Management- Definitions and Concepts
Project Management is the art of managing all the aspects of a
project from inception to closure using a scientific and structured
methodology (Prachi, 2021).
It is also defined as the process of organizing and managing
resources to achieve the organizational objective. A project in
any organization involves collaboration with people across
departments to achieve a single well defined objective.
Project management includes identifying requirements,
establishing clear and achievable objectives, balancing the
competing demands from the different stakeholders and
ensuring that a commonality of purpose is achieved.
10. Project Management- Definitions and Concepts Contds.
Project Management is about creating structure and managing the
project commitments and the delivery of agreed upon results. It aids
organizations to have control over the project environment and
ensure that the project deliverables are being managed effectively.
Managers face what is known as the “triple constraint”. This is a
constraint of meeting with; time, scope and quality requirement of a
project. The ability of a project manager to manage these constraints
determines the success of the project. Without the use of Project
Management, managers and organizations would find themselves
facing an unpredictable and chaotic environment over which they
have little control. Thus, Project Management is both necessary and
essential to the success of the project (Prachi, 2021).
11. Project Management- Definitions and Concepts
Contds.
Project Management is the art of balancing competing demands and
determining appropriate interventions whenever necessary. The
balancing act is about taking the different stakeholder requirements
together and then ensuring that everything falls together for the common
purpose of meeting the project deliverables. This then is the bottom-line
guideline for project managers: The practice of management for the
express purpose of delivering customer delight and stakeholder value.
It involves planning, monitoring, and control of all aspects of a project and
the motivation of all those involved in it, in order to achieve the project
objectives within agreed criteria of time, cost, and (quality ) performance
(BS 6079 and ISO 21,500).
12. What are the stages of project management?
The five project management process groups are:
Initiating: The goal for this phase is to define the project.
Planning: This phase includes developing a roadmap for
everyone to follow.
Executing & Monitoring: In this stage, the project team is built
and deliverables are created. Project managers will monitor and
measure project performance to ensure it stays on track.
Closing: The project is completed, a post mortem is held, and
the project is transferred to another team who will maintain it
(Wrike, 2021).
13. Definition of a Project Manager
A project manager can be defined as the individual or body with authority,
accountability and responsibility for managing a project to achieve specific
objectives (BS 6079-2:2000).
They plan resources, handle finances, and organize the business
documents related to the project.
They also work directly with higher management to ensure the project
has a set direction for success, and that it meets this definition of success
at the completion period.
Project managers play the lead role in planning, executing, monitoring,
controlling and closing. They are accountable for the entire project
scope, project team, resources, and the success or failure of the project.
14. Role a Project Manager
A project manager executes a project. A project manager involve
themselves in the technical aspects of the project that would include
participating in design, coding and other activities. runs day-to-day affairs
of a project.
Stakeholder Management. A stakeholder is someone who invested in
the project and derives value from the outcome or a third party who
contributes to the success and failure of the project. Project Manager
should establish boundaries and identify the roles of the different
stakeholders appropriately to avoid conflict of interest. For instance, an IT
project would have the stakeholders listed right from the systems and the
network administrators to the client and the project sponsor. But, there
might be other stakeholders like the staffing team who flit in and out of the
project phases when they are required.
15. Role a Project Manager Contds
Team-Building Strategies-Team building is very essential during the
project lifecycle. Project manager should develop synergies for increased
co-operation and understanding between the team members. The team
objective must be laid down t ensure everyone stick to the expectations of
the project and learn to subordinate individual goals and aspirations to
that of the team goals.
Conflict Management in diverse team. Team working on the project
may have different goals and expectations. This is the most common
cause of conflict and effective steps must be taken to ensure that team
spirit remains intact and the morale of the team members remains high.
The minimum requirement is that team members should learn how to
work with each other in order to achieve common project objectives.
.
16. Role a Project Manager
Team member selection- It is a process that involves mapping
of skills and strengths of each individual member with that of the
role and the job description for which they are being hired or
taken into the team. The process should take into account the
perceptions of the team member regarding the role for him or her
and ensure that it is in line with the expectations from them. The
role of a manager is to ensure that the right people are selected
for the right job at the right time and place.
17. Project Design- Definitions and Concepts.
Project design is an early phase of the project where a project's
key features, structure, criteria for success, and major deliverables
are all planned out. The point is to develop one or more designs
which can be used to achieve the desired project goals.
It is an early phase of the project where a project's key features,
structure, criteria for success, and major deliverables are all planned
out. The goal is to develop one or more designs which can be used
to achieve the desired project goals. Stakeholders can then choose
the best design to use for the actual execution of the project. The
project design phase might generate a variety of different outputs,
including sketches, flowcharts, site trees, HTML screen designs,
prototypes, photo impressions and more.
18. Project Design Contd
It is an outline of the different factors related to the project, that are going to
be discussed and tracked by the manager and the development team
(Wilson, 2020). A general project design consists of the following entities:
Defining the vision: It defines the different entities to be carried out in the
future. It consists of the problem that you are going to solve using the project
or the product under production, and it also provides important information
about the project’s potential to do so.
Tracking and understanding the problem: There is need to identify and
pinpoint the problem that is present in your project domain. Align with the
stakeholders, team members, and the manager to eradicate those obstacles
or problems completely, you can develop a project.
What are the required resources: Identify and gather the relevant
resources that you might need to get the whole project executed.
19. Project Design Contds
A general project design consists of the following entities:
A thorough description of the company or business that is going to
develop the project
A thorough description of the project, how it came to be, and how should
it be developed
The objectives, milestones, goals, and outcomes related to the project
Every product, major deliverables, evaluation and monitoring guidelines
and features of the success criteria are discussed in it
Lastly, the budge estimation criteria and guidelines are also discussed in
it
20. Project Management Life Cycle
Five Phases of Project Management Life Cycle are; initiation, planning,
execution, performance/monitoring and project close.
1. Initiation- This first phase of the project cycle. Feasibility study is
used to evaluate whether a project is needed and if the business is
viability. After that you predict what the result will be (such as data,
a prototype, proof of concept or a working product).
2. Planning- The project plan guide the team members to work within
the proposed budget and timeframe to product desired result or
output. It gives team members direction for producing quality
outputs, handling risk, creating acceptance, communicating benefits
to stakeholders and managing suppliers.
21. Project Management Life Cycle Contd
3. Execution :This phase turns your plan into action. The project
manager’s job in this phase of the project management life cycle
is to keep work on track, organize team members, manage
timelines, and make sure the work is done according to the
original plan.
4. Performance/Monitoring: It is combined with execution
because they occur at the same time. This phase involves
monitoring the progress of team work to ensure quality standard
and delivery of good result.
22. Project Management Life Cycle Contd.
5. Project Closure: This is the final stage where task is
completed. Teams close a project when they deliver the finished
project to the customer, communicating completion to
stakeholders and releasing resources to other projects (Lucid,
2021; Villanovau, 2021).
23. Project Implementation Plan (PIP) and its Benefits
It is called strategic plan. It is a combination of strategy, process
and action. It outlines the steps a team will take to achieve a
shared objectives. It encompasses everything from the project
strategy to the budget and to the list of people working on the
project.
Project Implementation Plan maps out how to bring your
strategic plan to life by breaking it into identifiable steps, where
each step is assigned a to team member to complete on a set
timeline (William, 2019).
The implementation plan plays a large role in the success of
your overall strategic plan to increase cooperate across all
24. Project Implementation Plan (PIP) and its Benefits
The primary benefits to implementation planning are the abilities
to outline the tasks needed to completes the project, identify the
personnel and resources needed and document the timeline for
project completion to ensure you are meeting the strategic goals.
Thank you for listening!!!
25. Conclusion
Project Management and the practice have become
indispensable to the modern day business activities. It formed
the basis of much of what is achieved during the course of a
project. Thus, the idea of a project being managed by
professionals is to enable the Project Managers work within the
budget line, resources and timeframe to achieve standard
quality or desired goals or output.
26. References
Amadou, H. (N.D). What is a Project? Retrieved from https://pjp-
eu.coe.int/documents/42128013/47261197/2_project.pdf/f317e5f0-dbc5-
4fc7-bd94-79d22a21683d
Lucid, C. (2021). The Four Phases of Project Management Lifecycle.
Retrieved from https://www.lucidchart.com/blog/the-4-phases-of-the-
project-management-life-cycle
Prachi, J. (2021). What is a Project? Retrieved from
https://www.managementstudyguide.com/what-is-project.htm
Villanova, U. (2021). The Five Phases of Project Management Lifecycle.
Retrieved from https://www.villanovau.com/resources/project-
management/5-phases-project-management-lifecycle/
27. References Continued.
William, M. (2019). Implementation Plan: How to Create and
Execute One. Retrieved from
https://www.projectmanager.com/blog/implementation-plan
Wrike,I. (2021). Project Management Basics. Retrieved from
https://www.wrike.com/project-management-guide/
Wilson, F. (2021). A Guide to the Importance of Project Design in
Project Management. Retrieved
fromhttps://www.ntaskmanager.com/blog/project-design-in-
project-management/
28. Recommended Text
1. O’Connell, F. (2010). What you need to know about project
management. Wiley.
2. Rad, P. F., & Levin, G. (2002). The Advanced Project
Management Office. St Lucie Press.
3. Taylor, P. (2011). Leading successful PMOs. Gower.
4. Turner, J. R. (2008). The Gower Handbook of Project
Management (4th ed.). Gower.
5. Meg, G. (2005). The Project Design in the Context of Project
Cycle Management. Artemis Services; France.