The document discusses project management and the project life cycle. It defines a project and project management, outlining the key processes involved - initiating, planning, executing, monitoring and controlling, and closing. It then describes each phase of the project life cycle in detail - initiation, planning, execution, and closure. For each phase, it provides examples of common project management steps and activities. Finally, it discusses factors that can impact the project environment such as political, economic, social, technological, legal and environmental considerations.

1. By: Er. Bhushan J. Sarise
INTRODUCTION OF PROJECT MANAGEMENT
Project:
an individual or collaborative enterprise that is carefully planned to
achieve a particular aim.
A collection of linked activities, carried out in an organised
manner,with a clearly defined START POINT and END POINT to
achieve some specific results desired to satisfy the needs of the
organisation at the current time
"a research project"
Project Management :
Project management is the practice of initiating, planning,
executing, controlling, and closing the work of a team to achieve
specific goals and meet specific success criteria at the specified time
A project is temporary in that it has a defined beginning and end in
time, and therefore defined scope and resources.
And a project is unique in that it is not a routine operation, but a
specific set of operations designed to accomplish a singular goal. So a
project team often includes people who don’t usually work together –
sometimes from different organizations and across multiple
geographies.
The development of software for an improved business process, the
construction of a building or bridge, the relief effort after a natural
disaster, the expansion of sales into a new geographic market — all
are projects.
And all must be expertly managed to deliver the on-time, on-budget
results, learning and integration that organizations need.

2. By: Er. Bhushan J. Sarise
Project management, then, is the application of knowledge, skills,
tools, and techniques to project activities to meet the project
requirements.
It has always been practiced informally, but began to emerge as a
distinct profession in the mid-20th century. PMI’s A Guide to the
Project Management Body of Knowledge (PMBOK® Guide) identifies
its recurring elements:
Project management processes fall into five groups:
1. Initiating
2. Planning
3. Executing
4. Monitoring and Controlling
5. Closing
Project management knowledge draws on ten areas:
1. Integration
2. Scope
3. Time
4. Cost
5. Quality
6. Procurement
7. Human resources
8. Communications
9. Risk management
10. Stakeholder management
All management is concerned with these, of course. But project
management brings a unique focus shaped by the goals, resources and
schedule of each project. The value of that focus is proved by the
rapid, worldwide growth of project management:

3. By: Er. Bhushan J. Sarise
 as a recognized and strategic organizational competence
 as a subject for training and education
Project Life Cycle:
According to the Project Management Institute, the project life cycle
is critical for any managers hoping to deliver projects to clients
successfully. Let’s take a look at the steps involved.
The project management life cycle is usually broken down into four
phases: initiation, planning, execution, and closure.
Fig.(a) Project Life Cycle
The 4 Phases of the Project Management Life Cycle
1. Initiation
2. Planning
3. Execution
4. Closure

4. By: Er. Bhushan J. Sarise
1.Initiation
In the initiation phase of the project, you identify a business need,
problem, or opportunity and brainstorm ways that your team can
meet this need, solve this problem, or seize this opportunity.
During this step, you figure out an objective for your project,
determine whether the project is feasible, and identify the major
deliverables for the project.
Project management steps for the initiation phase
Steps for the project initiation phase may include the following:
 Undertaking a feasibility study – Identifying the primary
problem your project will solve and whether your project will
deliver a solution to that problem
 Identifying scope – Defining the depth and breadth of the
project
 Identifying deliverables – Defining the product or service to
provide
 Identifying project stakeholders – Figuring out whom the project
affects and what their needs may be
 Developing a business case – Using the above criteria to
compare the potential costs and benefits for the project to
determine if it moves forward
You’ll also develop a statement of work or project initiation
document, which may include basic project life cycle flowcharts.
2. Planning
Once the project is approved to move forward based on your business
case, statement of work, or project initiation document, you move into
the planning phase. In this phase, you break down the larger project
into smaller tasks, build your team, and prepare a schedule for the

5. By: Er. Bhushan J. Sarise
completion of assignments. During this phase, you create smaller
goals within the larger project, making sure each is achievable within
the time frame. Smaller goals should have a high potential for
success.
Project management steps for the planning phase
Steps for the project planning phase may include the following:
 Creating a project plan – Identifying the project timeline,
including the phases of the project, the tasks to be performed,
and possible constraints
 Creating workflow documents or process maps – Visualizing the
project timeline by diagramming key milestones
 Estimating budget and creating a financial plan – Using cost
estimates to determine how much to spend on the project to get
the maximum return on investment
 Gathering resources – Building your functional team from
internal and external talent pools while making sure everyone
has the necessary tools (software, hardware, etc.) to complete
their tasks
 Anticipating risks and potential quality roadblocks – Identifying
issues that may cause your project to stall while planning to
mitigate those risks and maintain the project’s quality and
timeline
The planning phase is also where you bring your team on board,
usually with a project kickoff meeting. It is important to have
everything outlined and explained so that team members can quickly
get to work in the next phase.
3. Execution
You’ve received business approval, developed a plan, and built your
team. Now it’s time to get to work. The execution phase turns your

6. By: Er. Bhushan J. Sarise
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.
Project management steps for the execution phase
Steps for the project execution phase may include the following:
 Creating tasks and organizing workflows – Assigning granular
aspects of the projects to the appropriate team members, making
sure team members are not overworked
 Briefing team members on tasks – Explaining tasks to team
members, providing necessary guidance on how they should be
completed, and organizing process-related training if necessary
 Communicating with team members, clients, and upper
management – Providing updates to project stakeholders at all
levels
 Monitoring quality of work – Ensuring that team members are
meeting their time and quality goals for tasks
 Managing budget – Monitoring spending and keeping the
project on track in terms of assets and resources
4. Closure
Once your team has completed work on a project, you enter the
closure phase. In the closure phase, you provide final deliverables,
release project resources, and determine the success of the project.
Just because the major project work is over, that doesn’t mean the
project manager’s job is done—there are still important things to do,
including evaluating what did and did not work with the project.
Project management steps for the closure phase
Steps for the project closure phase may include the following:

7. By: Er. Bhushan J. Sarise
 Analyzing project performance – Determining whether the
project's goals were met (tasks completed, on time and on
budget) and the initial problem solved using a prepared checklist
[link to checklist template]
 Analyzing team performance – Evaluating how team members
performed, including whether they met their goals along with
timeliness and quality of work
 Documenting project closure – Making sure that all aspects of
the project are completed with no loose ends remaining and
providing reports to key stakeholders
 Conducting post-implementation reviews – Conducting a final
analysis of the project, taking into account lessons learned for
similar projects in the future
Project environment
Project environment represents a connection, where the project is
processed. It impacts the project and is, therefore, conditioned. Such
an interaction is provided by numerous factors as operational,
physical, ecological, social, cultural, economic, psychological,
financial, organizational etc. The environment not only formulates the
project but also estimates it.

8. By: Er. Bhushan J. Sarise
The elements of PESTLE
Political factors you have to consider:
 Tax policies and other government policies
 Elections
 Trade reforms
 Etc.
Example: If you’re working on an international project which spans
across several countries, you will have to keep in mind that different
countries have different rules and regulations. Some countries have
stricter regulations than others, especially when it comes to health and
safety issues.
Economical factors you have to consider:
 Budget availability
 Import and export taxes
 Interest rates
 Economic growth or recession
 Inflation rate
 Exchange rate
 Minimum wage
Example: If your supplier is located in another country and the
exchange rate between the two countries changes, it means that your
costs might increase. If the exchange rate is in your favor, you could
save money on supplies.
Social factors you have to consider:
 Cultural norms and expectations
 Population demographics (age, gender, mobility etc.)
 Population’s general attitude towards certain issues (health,
environment, etc.)
Example: If you are planning on building an additional landing strip
for an airport, you have to take the local population, who will be

9. By: Er. Bhushan J. Sarise
affected by the construction, into account. Because in order to build it,
the people living there will have to relocate and people living close to
the airfield will have to expect increased noise from the arriving and
departing airplanes. You have to devise a strategy to address these
concerns.
Technological factors you have to consider:
 New technologies that replace older technologies
 Technical constraints
 Automation
 Research and development
Example: A new technology or a technological shift could speed up
your project’s progress, which also means that you could decrease
your project costs.
Legal factors you have to consider:
 Employment law
 Health and safety laws
 Regulatory frameworks
Example: Before you can start a construction project, you will have to
get a building permit and have to make sure that the construction plan
is in accordance to regulations.
Environmental factors you have to consider:
 Climate and weather conditions
 Geographical location
 Natural disasters
Project Selection
Project Selection is a process to assess each project idea
and select the project with the highest priority. Projects are still just
suggestions at this stage, so the selection is often made based on only
brief descriptions of the project.

10. By: Er. Bhushan J. Sarise
1: Benefit Measurement Methods
The Benefit Measurement Methods are likely going to be the only
methods you’ll be using directly as a project manager. While less
complex than the Constrained Optimization Methods, they often don’t
require an advanced degree in finance to be able to understand them.
They’re great for smaller projects that aren’t especially complicated.
Benefit Measurement Methods, as the name suggests, rate potential
projects according to a specific model and compare those results
between the project candidates. Below are the most common Benefit
Measurement Methods you’ll be using as a PM.
1. Cost Benefit Ratio
2. Economic Model
3. Payback Period
4. Discounted Cash Flow (DCF)
5. Net Present Value (NPV)
6. Scoring Models
7. Internal Rate of Return (IRR)
8. Opportunity Cost

11. By: Er. Bhushan J. Sarise
2: Constrained Optimization Methods
While the Benefit Measurement Methods are generally the most
widely used Project Selection methods for project managers,
Constrained Optimization Methods may also come into play. These
methods are great for larger, more complex projects where a number
of intricate mathematical calculations will need to be performed.
In fact, the Constrained Optimization Methods are also known as the
Mathematical Model of Project Selection.
Given their complexity though, many project managers will likely
choose the Benefit Measurement methods to meet their Project
Selection needs. What’s more, the Constrained Optimization Methods
are not covered in-depth in the PMP certification exam but are
provided here for supplementary purposes only.
1. Linear Programming
This programming method involves bringing down the cost of the
project through reduction of the time required to complete it.
2. Nonlinear Programming
Nonlinear Programming aims at solving optimization problems within
projects wherein some of the constraints or functions are nonlinear.
3. Integer Programming
This method focuses on integer values rather than fractional ones.
Some products, like tables for example, can never be fractional.
4. Dynamic Programming
This method involves simplifying a complex problem by separating it
into a number of simpler problems.
5. Multiple Objective Programming
The Multiple Objective Programming approach focuses on making a
decision for a number of problems using mathematical optimization.

12. By: Er. Bhushan J. Sarise
Project Proposal
A project proposal is a core document that helps you sell a
potential project to sponsors and stakeholders. A project proposal is
unique to each project, of course, but the format is basically the same,
if you follow a basic outline.
There are six types of proposal:
 Formally solicited
 Informally solicited
 Unsolicited
 Continuation
 Renewal
 Supplemental
1.Formally solicited
A formally solicited project proposal is made in response to an
official request for a proposal. In a way, this is the easiest way to
create a proposal for a new project, since the Request For Proposal
(RFP) document will usually tell you exactly what the customer or
audience wants and sometimes even directions for preparing the
proposal.
RFP forms aren’t to be confused with project request forms though
– the former is a way to directly react to specific needs and desires,
whereas the latter is a way for higher management to request a
project of their teams.

13. By: Er. Bhushan J. Sarise
2.Informally solicited
Informally solicited project proposals are the same as formally
solicited ones, except the information they are based on isn’t set
out in a specific document. This makes them a little harder to deal
with (more research is involved in analyzing them) but you at least
have a rough starting point.
It’s pretty much just a lack of detail that separates formal from
informal – formal proposal requests have set details, goals,
deliverables, and potentially even methods, while informal ones
could be based on a conversation. If you’ve been asked for a
proposal but haven’t been given any specifics, it’s an informally
solicited one.
3.Unsolicited
Unsolicited project proposals are the project equivalent of cold
calls – nobody asked to receive one, but (if you’ve done your
homework) it can still provide a ton of value. These are proposals
which are thought of by the person submitting them and can be
inspired by anything, from a eureka moment in the employee’s
daily work to a casual conversation with a customer.Arguably
these are the hardest proposals to write, as you’ll have to be extra
persuasive (nobody asked for the proposal so they’ll need extra
nudging). This means gathering more evidence than usual to prove
the proposal’s worth and taking extra care when writing to make
sure that it’s convincing.

14. By: Er. Bhushan J. Sarise
4.Continuation
Continuation project proposals are by far and away the easiest to
write, since these are essentially reminders/updates for ongoing
(and already approved) projects. These are almost not even
proposals, in the sense that you’re not asking for anything new or
pitching your case. Instead, all you have to do is remind the
audience of the project they previously approved, report on its
progress, account for any changes and ask for permission to
continue.
5. Renewal
Once an ongoing project has finished or outlived its usefulness
(and support for it is going to be terminated), a renewal project
proposal can be written to make the case for its continued support.
Much like continuation proposals, these are less about convincing
the audience of the project’s worth by itself and more about
showing why it’s valuable to continue doing it. This usually means
weighing up the return benefits with the resources it takes to
upkeep the practice.
6.Supplemental
A supplemental project proposal is required when you need to ask
for extra resources for a project (beyond those originally
proposed). The main aim when writing these proposals is to be
able to justify the extra resources and produce updated estimates of
what the project will now take to complete. If the project’s scope is
being increased to have a further reach then this will read as an
extension of the original document with a focus on explaining the
benefits of expanding the scope.

15. By: Er. Bhushan J. Sarise