This document discusses key aspects of project management. It begins by defining a project as a temporary endeavor undertaken to create a unique product or service. It then defines project management as the discipline of planning, organizing, securing, and managing resources to achieve specific goals. Finally, it outlines the nine knowledge areas of project management: project integration management, project scope management, project time management, project cost management, project quality management, project human resource management, project communications management, project risk management, and project procurement management.

1. Chapter One
The World of
Project Management
I am Akin Shokunbi

2. What Is a Project?
“A temporary endeavor undertaken to create a
unique product or service.”*
Term Means that a Project
temporary Has a beginning and end
endeavor Involves effort, work
to create Has an intention to produce something
(project "deliverables"
unique One of a kind, rather than a collection of
identical items
product Tangible objects, but could include things like
computer software, film or stage works
service Might include the establishment of a day-care
center, for instance, but not its daily
operations.
Akin Shokunbi

3. What Is
Project Management ?
 Project management is the discipline of planning,
organizing, securing, and managing resources to
achieve specific goals.
 Project management is the science (and art) of
organizing the components of a project
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4. Figure 1-1: Performance, Cost, and
Time Project Targets
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5. The Triple Constraint

6. The Triple Constraint
Time Cost
OR, IN
Quality/Scope
PLAIN
ENGLISH
Fast Cheap
Good
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7. Triple Constraint Trade-Offs
Cost
Quality/Scope
Constraint Required Adjustment Alternatives (One or
Change Combination of Both)
Shorter Time Higher Cost Reduced Quality or Narrowed
Scope
Reduced Cost More Time Reduced Quality or Narrowed
Scope
Higher Quality or More Time Higher Cost
Increased Scope
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8. Triple Constraint: Setting Priorities
Priority Matrix
Constraint 1 2 3 Measurement
Time
Cost
Quality/Scope
•Must be set by customer and sponsor near startup.
•May change over time, but a change is a significant event!
Example of a Comple te d Priority Matrix for a Construction Proje ct
Constraint 1 2 3 Measurement
Building must be completed by
Time X October 31 of this year to
accommodate corporate move.
Costs for the project must not
Cost X exceed $22.5 million.
Must provide workspace for 120 call
Quality/Scope X center staff.
If these are the established priorities and measurements, what are
some of the implications for the project if the project starts running late
or shows signs of exceeding budget?
Akin Shokunbi

9. What uncertainties are encountered in
project management?
 Time required to complete a project
 Availability of key resources
 Cost of resources
 Timing of solutions to technological problems
 Actions taken by competitors
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10. Can uncertainty surrounding projects
ever be eliminated?
 No, but it can be managed
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11. Program
 A Program is a group of projects managed collectively.
 This projects could be inter-related or inter-dependent
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12. Program management
 Program management or programme management is
the process of managing several related projects
 This is usually done by top ranking officers of an
organization most times The C.E.O,The C.I.O etc.
 They are called Program Manager.
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13. The Project Management Knowledge
Areas
 1.Project Integration Management
 2.Project Scope Management
 3.Project Time Management
 4.Project Cost Management
 5.Project Quality Management
 6.Project Human Resource Management
 7.Project Communications Management
 8.Project Risk Management
 9.Project Procurement Management
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14. #1—Project Integration Management
 Bringing it All Together:
 Building the Project Plan
 Project Execution
 Integrated Change Control
 Project Management “Nerve Center”
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15. #2—Project Scope Management
 Staying Vigilant in Defining and Containing Scope
throughout the Project
 Project Initiation
 Scope Planning
 Scope Definition
 Scope Verification
 Scope Change Control
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16. #3—Project Time Management
 Determining What Gets Done and When through:
 Activity Definition
 Activity Sequencing
 Activity Duration Estimating
 Schedule Development
 Schedule Control
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17. #4—Project Cost Management


Planning for Resources
Estimating Costs

 Creating the Budget
 Managing/Controlling
the Budget
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18. #5—Project Quality Management
 Quality Planning
 Quality Assurance
 Quality Control
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19. #6—Project Human Resource
Management
 Organizational Planning
 Staff Acquisition
 Team Development
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20. #7—Project Communications
Management
 Keeping Stakeholders Informed
(and Involved!)
 Communications Planning
 Dissemination of Information
 Progress Reporting
 Administrative Closure
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21. #8—Project Risk Management
 Expect the Unexpected!
 Risk Management Planning
 Risk Identification
 Qualitative Risk Analysis
 Quantitative Risk Analysis
 Risk Response Planning
 Risk Management and Control
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22. #9—Project Procurement
Management
For Projects Using Outside Resources:
 Procurement Planning
 Solicitation Planning
 Solicitation
 Source Selection
 Contract Administration
 Contract Closeout
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23. Akin Shokunbi

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