Project Management Assignment Management

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 managementProject 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 requirementso Proper planningo Realistic expectationso Smaller Project milestoneso Competent staff o Ownership

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Project Management Assignment Managemento • Clear vision and objectives o Hard working and focused staff

Project Management Benefits 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 conception and initiationAn 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 definition and planningA 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 executionResources' tasks are distributed and teams are informed of responsibilities. This is a good time to bring up important project related information.

4. Project performance and control

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Project Management Assignment Management

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 closeAfter 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.

 Initiation phase  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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Project Management Assignment Management 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

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