The document provides an introduction to key concepts in project management including defining projects, project management, and how they differ from programs and portfolios. It outlines the project management life cycle and processes. Projects are unique temporary endeavors with defined start and end dates, objectives and constraints. Project management involves coordinating resources and activities to deliver project requirements on time and to budget. Programs manage groups of related projects, while portfolios prioritize all organizational projects and programs based on strategic objectives and resource allocation.

1. BPM1313 –
Introduction to Project
Management

2. Contents – Introduction to Project
Management
i. Defining Project
ii. Defining Project Management
iii. Project, Programs and Portfolio
iv. Project Management, Operation Management, General Management
v. Benefits of Project Management
vi. Challenges of Project Management

3. What is project?
“Unique process consisting of a set of coordinated and controlled activities with
start and finish dates, undertaken to achieve an objective conforming to specific
requirements, including constraints of time, cost, quality and resources”
 A project is a planned set of activities
 A project has a scope
 A project has time, cost, quality and resource constraints

4. What is project?
A complex, non-routine, one-time effort limited by time, budget,
resources, and performance specifications designed to meet customer
needs.

5. What is project?
A series of activities and tasks that
• Have a specific objective to be completed within certain
specifications;
• Have defined start and end dates;
• Have funding limits (if applicable);
• Consume resources (i.e., money, people, & equipment)

6. Project Triple Constraint

7. Characteristics of a Project
• Temporary endeavor
• Definite start date and end date
• Unique services or product
• Projects end when objectives are met or NOT MET
• No two projects are the same
• A project is divided into phases
• Pieces of work are deliverables
• Deliverable is tangible and verifiable

8. Common Project Terms
i. Deliverables – Tangible things that the project produces
ii. Milestone – Dates by which major activities are performed
iii. Tasks – Also known as activities. Activities undertaken during the project
execution
iv. Risks – Potential problem that may arise
v. Issues – Risks that have already happened

9. Common Project Terms
i. Stakeholder – Any person or group of people who may be affected by/may
affect the project
ii. Gantt Chart – A specific type of chart showing time and tasks. Usually
created by a project management program

10. Defining Project Management
Project management is the application of knowledge, skills and
techniques to the project activities in order to meet or exceed
stakeholders’ needs and expectations from a project. It invariably involves
balancing competing demand among:
Scope, time, cost, quality, risk, customer satisfaction
Stakeholders with differing needs and expectations
Identified needs & unidentified needs

11. Defining Project Management
The art of organising, leading, reporting
and completing a project through people

12. Defining Project Management
ISO Definition: A project is a unique process consisting of a set of
co-ordinated and controlled activities with start and finish dates,
undertaken to achieve an objective conforming to specific
requirements including the constraints of time, cost and resources.

13. Advantages Project Management
I. About 97% respondents say it adds value
II. Return on Investment (ROI) is 28%
III. Improvement in time to market by 22%
IV. Improvement in customer satisfaction by 38%
V. Improvement in productivity by 23%

14. Advantages Project Management
I. Improvement in cost performance by 24%
II. Improvement in schedule performance by 32%
- Center for Business Practices (CBP) (PM Solutions Whitte Paper Series, 2002)

15. Project Management: Historical
perspective
1960-1970 Traditional Project
Management
Construction,
Aerospace,
Defense
Technology and
schedule driven
1970-1985 Focused Project
Management
High tech
businesses, multi-
discipline
developments
Software
engineering,
matrix
management
1985-1993 Renaissance of
Project
Management
All organizations,
developing formal
methods
Total quality
management,
concurrent
engineering
1993- present Modern Project
Management
Accept by top
management,
Recognize as a
discipline
System
engineering,
change and risk
management

16. Is there any significant
difference among
project, program and
portfolio?

17. Program
A series of coordinated, related, multiple projects that continue over
an extended time and are intended to achieve a goal.
A higher level group of projects targeted at a common goal.
Example:
• Project: completion of a required course in project management.
• Program: completion of all courses required for a business major.

18. Program
i. Programs are groups of related projects that are managed
using the same techniques in a coordinated fashion – PMP Exam
study guide
ii. A group of related projects managed in a coordinated way
to obtain benefits and control but not available from
managing them individually – PMBOK sixth Edition

19. Program
i. A project may or may not be part of a program but a program
will always have projects
ii. Centralized coordinated management of a program to achieve
the program’s strategic objective and benefits
iii. Focuses on the project interdependencies and helps to
determine the optimal approach for managing them

20. Portfolio Management
i. Portfolios are a collection of programs and projects that support a
specific business goal or objective – PMP Exam study guide
ii. Collection of projects or programs and other work that are
grouped together to facilitate effective management of that work
to meet strategic business objective – PMBOK sixth Edition

21. Portfolio Management
i. Centralized management of one or more portfolios [identifying,
prioritizing, authorizing, managing and controlling projects,
programs and other related work to achieve strategic business
objectives]
ii. Aims to prioritize resource allocation
iii. Consistent and align with organizational strategies

22. Portfolio Management
i. Key themes include Strategic Alignment, Value Management, Risk
Management, Resource Management and Performance
Management

23. Why and when Portfolio Management?
i. No prioritization process for business request
ii. Intense competition internally with regard to financing / staffing
projects
iii. Many projects are not adding “strategic value” to the organization
iv. Project benefits not captured and tracked
v. Excessive project delays due to lack of resources

24. Why and when Portfolio Management?
i. Teams overworked / under appreciated
ii. Too many small projects are underway
iii. Seek accurate estimates based on firm’s history & lesson learned

25. Benefits of Portfolio Management
i. Prioritizes project proposal across a common set criteria, rather
than on politics or emotion
ii. Allocates resources to projects that align with strategic decision
iii. Link project selection to strategic metrics
iv. Justifies killing projects that do not support organization strategy

26. Benefits of Portfolio Management
i. Balance risks across all projects
ii. Improves communication and supports agreement on project goals

27. Project Management, Operation
Management, and
General Management

28. Operation Management
i. Operations are an organizational functions performing the ongoing
execution of activities that produce the same product or provide a
repetitive service
ii. Operations require business process management or operation
management
iii. Operations are permanent endeavor, produce repetitive outputs,
resources assigned to do the same set of tasks

29. Operation Management
i. Projects can intersect with operations at various points during the
product life cycle;
• Each close out phase
• Developing new product, upgrading a product or expanding outputs
• Improvement of operations
• Product development process
• Divestment or getting rid of operations at the end of a product life cycle

30. Project Operation vs Operation
Management
PROJECTS OPERATIONS
Unique Repetitive
Definite start and end Continuous
Project resources Permanent resources
Effectiveness Efficiency
Goals Roles

31. Project Operation vs General
Management
PROJECTS OPERATIONS
Absolutely depend on planning Dependent on good planning
Newly created budget Modified budget
Unique Fix sequence of activities
Trans-disciplinary Well-defined structure
Relatively low in the hierarchical
chain in command
Well-defined managerial
hierarchy

32. Project Management Body of
Knowledge
i. PMBOK Guide is the standard for managing most projects most of
the time across many types of industries.
ii. It has a standard describing the project management processes,
tools and techniques used to manage a project toward a successful
outcome.
iii. The standard is unique to the PM field and has inter-relationship
with other project management discipline.

33. Project Management Body of
Knowledge
i. PM standards do not address all details of every topic.
ii. The standards are limited to a single project and the PM processes
that are generally recognized as good practice.

34. Project Management Body of
Knowledge