Project Management for MBA IV SEM students

1. DR MEENAKSHI SHARMA

2.  Management is the technique of understanding the
problems, needs and controlling the use of Resources,
Cost, Time, Scope and Quality.
Project Management : Application of knowledge,
skills , tools & techniques to project activities in order
to meet stakeholder needs & expectations from
a project

3. Keys of Project Management
 PROJECT PLANNING
 PROJECT ORGANSATION
 PROJECT OBJECTIVES AND POLICIES
 LIFE CYCLE OF PROJECT
 PROJECT CONTROL
 HUMAN ASPECTS OF PROJECT

4. PROJECT PLANNING
 Projects involving activities, recourses, and inter-
relationship between human and non human planned.
Functions of planning:
* Provides a basis work on the project
* Allocating responsibilities to individuals
* Effective Communication
*Coordination between human and non human things
* Time Management
*Monitoring and control

5. PROJECT ORGANISATION
 Line and staff organization
A person is appointed with the primary responsibility of
coordinating the work of the people in the functional
department.
Divisional organisation
Under this form of project organistion, a separate division
is set up to implement the project. This form of organisation
implies the creation of a separate goal oriented division of the
company, with its own functional departments.
Matrix Organisation
The authority is shared between the project manager and
functional cut across the traditional vertical line of command.

6. Project objectives and policies
 Before operational planning is done, the objectives
and policies guiding the project planning exercise
must be applicable.
 Questions:-
 What are the technical and performance objectives?
 What are the time and cost goals?
 Should the work be given to outside contractors?
 What should be the terms of contract?

7. Project Life Cycle
 Project life cycle is a series of phases of a project from
initiation to completion.
 The life cycle gives a practical approach to problem
solving applied to all aspects of a project.

8. 4 major phases
 Initiation Phase
 Planning Phase
 Implementation/ Execution Phase
 Closure Phase

9. Initiation Phase
 The first phase explores the project concept.
 Scope is defined during this phase.
 Feasibility studies are made in order to identify if
there is a business need and justification to pursue the
project. Project charter is developed for approval.
 This is the phase that the project team is assembled
and the project manager is identified.


10. Planning Phase
 This phase further details the scope of the project.
 Tasks and resources are identified and assigned during this
phase .
 Project manager coordinates the preparation of the
schedule and project budget.
 Quality plan is developed to maintain proper standards
throughout project .
 Communications plan is created in order to ensure
everyone is constantly informed of project status


11. Implementation phase
 This phase is where the work outlined in the project plan is
performed.
 This phase consumes the most resources and energy.
 Constant and close monitoring of the work should be done
to ensure efficiency of the project execution.
Status reports are important for all stakeholders involved.


12. Closure phase
 This is the last phase of the project life cycle and
involves handing over final deliverable to the
customer.
 Contracts are properly terminated for equipment,
vendors and staff.
 All stakeholders are to be informed of project closure.
 This phase is when the team reviews the overall project
and identify lessons learned for future projects.


13. PROJECT CONTROL
 Project control involved regular comparison of
performance against targets..
 Search for the cause of deviation
 Check adverse variances
 Taken corrective actions

14. Human Aspects of Project
Management
 Authority
 Orientation
 Motivation
 Group Functioning

15. Project Management Framwork