The document discusses project management. It defines a project as a unique endeavor to produce deliverables within time, cost, and quality constraints. It outlines the five basic phases of project management: 1) conception and initiation, 2) definition and planning, 3) launch or execution, 4) performance and control, and 5) close. It also discusses the project life cycle which consists of four phases: initiation, planning, execution (including monitoring and controlling), and evaluation. Project management aims to direct and control projects to achieve goals and meet success criteria.

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What is a Project?
Definations of project Management
The word Project comes from the Latin word Projectum, which means "something that comes before
anything else happens“.
A Project is a unique endeavor to produce a set of deliverables within clearly specified time, cost and
quality constraints.
Jason Westland
Trying to manage a Project without Project management is like trying to play a football game without
a game plan.
K. Tate
Project management
Project management is the discipline of carefully projecting or planning, organizing, motivating and
controlling resources to achieve specific goals and meet specific success criteria
 Features of Project
 Unique in nature
 Defined timescale
 Approved budget
 Limited resources
 Element of risk
 Beneficial change
Project Success Factors
 Stakeholder involvement
 Executive management support
o Clear statement of requirements
o Proper planning
o Realistic expectations
o Smaller Project milestones
o Competent staff
o Ownership

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o • Clear vision and objectives
o Hard working and focused staff
Project ManagementBenefits
 Goals clarity and measurement
• Resource coordination
• Risks will be identified and managed
• Increases the possibilities of time savings
• Increases the possibilities of cost savings
• Increases the possibilities of achieving the agreed outcome
• Increases the possibilities to deliver Projects successfully
5 Basic Phases of Project Management
(PMI) defines project management as "the application of knowledge, skills, tools and techniques to a
broad range of activities in order to meet the requirements of a particular project." The process of
directing and controlling a project from start to finish may be further divided into 5 basic phases:
1. Project conceptionand initiation
An idea for a project will be carefully examined to determine whether or not it benefits the
organization. During this phase, a decision making team will identify if the project can realistically be
completed.
2. Project definitionand planning
A project plan, project charter and/or project scope may be put in writing, outlining the work to be
performed. During this phase, a team should prioritize the project, calculate a budget and schedule,
and determine what resources are needed.
3. Project launch or execution
Resources' tasks are distributed and teams are informed of responsibilities. This is a good time to
bring up important project related information.
4. Project performanceand control

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Project managers will compare project status and progress to the actual plan, as resources perform
the scheduled work. During this phase, project managers may need to adjust schedules or do what is
necessary to keep the project on track.
5. Project close
After project tasks are completed and the client has approved the outcome, an evaluation is
necessary to highlight project success and/or learn from project history.
Projects and project management processes vary from industry to industry; however, these are more
traditional elements of a project. The overarching goal is typically to offer a product, change a process
or to solve a problem in order to benefit the organization.
The Project Life Cycle
The project life cycle consists of four phases, initiation, planning, execution (including monitoring and
controlling) and evaluation.
Initiationphase begins by defining the scope, purpose, objectives, resources,
deliverables, timescales and structure of the project.
Planning phase is the creation of a detailed Project Plan which the project manager will
refer throughout the project to monitor and control time, cost and quality. The project manager will
then create the following plans:
 Resource Plan: to identify the staffing, equipment and materials needed
 Financial Plan: to quantify the financial expenditure required
 Quality Plan: to set quality targets and specify Quality Control methods
 Risk Plan: to identify risks and plan actions needed to minimise them
 Acceptance Plan: to specify criteria for accepting deliverables
Project Execution phase the project team produces the deliverables while the project
manager monitors and controls the project delivery by undertaking:
 Time Management: tracking and recording time spent on tasks against the Project Plan
 Cost Management: identifying and recording costs against the project budget
 Quality Management: reviewing the quality of the deliverables and management processes
 Change Management: reviewing and implementing requests for changes to the project

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 Risk Management: assessing the level of project risk and taking action to minimize it
 Issue Management: identifying and resolving project issues
 Acceptance Management: identifying the completion of deliverables and gaining the
customers acceptance
 Communications Management: keeping stakeholders informed of project progress, risks and
issues
Evaluation (also known as a Post-Implementation Review) should be carried out to
determine the project's overall success and find out whether the benefits stated in the original
Business Case were actually realised. Any lessons learned should be documented for future projects.
Project life cycle