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2 Cover Article History of ProjectManagement and its Life Cycle
Smitha S
8 News and Events
8 Commerce Quiz
9 TIT BITS Top ten ProjectManagement Trends in 2014
9 Facts and Figures
Dear Members,
Welcome to the third Issue of our fortnightly, MACAUNewsletter. Main purpose of this newsletter is to create awareabout current issues and create interest and curiosity in our studentensuring their full participation. We hope you will find this a us
update on our activities and would like to thank everyone who supported this edition by providing useful information.
We have included concise information on history of promanagement and Top 10 project management trends in 2014 atTitbits column
We have included ancient quotes for day to day life.
We have simple questions in the Quiz column for testing studeknowledge on commerce related subjects. Kindly participateanswering the same and send answers by due date. Lucky students give maximum correct answer will win gift vouchers.
Co-ordinators of all the teams have been extremely proactive in brinthis newsletter.
We are looking forward to continuing this productive channeinformation interchange throughout the MACAURO community. future success of the Newsletter depends on your commecontributions and ideas! We do encourage all of you to try your utm
best to enrich the forthcoming MACAURO Newsletters!.
We hope you enjoy this February I Issue for 2014 of the MACAUNewsletter.
Regards,
Radhika and Priyadarshini(Coordinators of MACAURO community)
September,2013
NEWSLETTER TO EDUCATE AND EMPOWMACAURO
1st TO 15th
February 2014 Volume II
The best revenge is massive success. Frank Sinathra
VISIONMACAURO would be guiding force for nurturing anddeveloping tomorrows Management Specialists who in
turn become role models to others by adopting andexhibiting true knowledge and ethical values.
MISSIONMACAURO will drive the stakeholders through 5 ITechniques -imbibe, invoke, improve, inculcate and
involve and through need based initiatives to overcome
the challenges and to boost up their morale andconfidence to face the competitive world.
EDITORIAL
CONTENTS
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Project management has evolved to plan, coordinate andcontrol the complex and diverse activities of modernindustrial, commercial and management change and ITprojects. All projects share one common characteristic the projection of ideas and activities into new endeavors.The ever-present element of risk and uncertainty meansthat the events and tasks leading to completion cannever be foretold with absolute accuracy. Examplesabound of projects that have exceeded their costs by
enormous amounts, finishing late or even beingabandoned before completion. Such failures are far toocommon, seen in all kinds of projects in industry,commerce and especially the public sector.
The purpose of project management is to foresee orpredict as many of the dangers and problems as possibleand to plan, organize and control activities so thatprojects are completed successfully in spite of all therisks. This process should start well before any resourceis committed, and must continue until all work is finished.The primary aim of the project manager is for the result
to satisfy the project sponsor or purchaser and all theother principal stakeholders, within the promisedtimescale and without using more money and otherresources than those that were originally set.
History of Project Management
Before 1900
Wonderful projects
People cheap, even expendable Urgency not driven by the rat-race
Management organization structures
seen in the church and the military
No management scientists
No project management profession
Projects before 1900 were generally managed by creative architects and engineers themselves. Thwas no separately recognized profession of promanagement. Commonsense, determination, hard wusually got the job done. The time had not yet comethe industrial engineers and behavioural scientist wwould eventually study working practices, organizatheory and people at work.
1900 1949
Emergence of management science
People begin to study work and people at wo
Henry Gantt introduces his famous planncharts
Early development of critical path Networks
Rapid industrialization and the demands of munitiproduction in World War 1 saw the emergence
management scientists and industrial engineers s
as Elton Mayo and Frederick Winslow Taylor, w
studied people and productivity in factories (Kani
1997). Henry Ford made production-line manufact
famous with his Model T automobile and, especi
important for project managers, Henry Gantt (18
1919), who worked for Taylor, developed his nfamous charts which are still popular and u
universally today
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History of Project Management
and Its Life CycleSmitha S, M.Com
COVER ARTICLE
The biggest failure you can have in life is making the mistake of never trying at all.
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The year 1968 saw publication of the firsedition of this book, at a time when most othepublications dealt with planning anscheduling as separate techniques rather thatreating project management holistically as management discipline.
1970 1979
o Industrial project managemento IT project managemento Creation of professional associationso More project management softwareo Legislation for health and safetyo Anti-discrimination laws introduced
This period saw rapid growth in informatio
technology, or IT (as it soon became knownIndustrial project management continued abefore, but with more project managemesoftware available and wider recognition of throle. However, the spread of IT broughanother, different kind of project manager othe scene. These were the IT projemanagers: people who had no projeplanning or scheduling experience and ninterest or desire to learn those methods. Thepossessed instead the technical and ment
skills needed to lead teams developing Iprojects. These IT project managers werusually senior systems analysts, and one otheir characteristics was their scarcity. Higdemand for their services led them to makfrequent career jumps, moving rapidly up generous salary scale.
Development of the professional projemanagement associations grew during this periowhich also saw the development of legislation
protect workers health and safety. Other new lawwere intended to discourage unfair discriminatioof people because of their race, religious beliefs osex..
It is not generally appreciated that early examples ofcritical path networks were developed before 1950,although their value was not widely appreciated at thetime. Without the existence of computers, they wereinflexible to change, tedious to translate into workingschedules and thus impracticable and difficult to use.
Gantts bar charts were generally preferred, often set upon proprietary charts that allowed rescheduling usingmovable magnetic or plug-in strips or cards. Everythingfrom the allocation of work to people and machines toholiday schedules was controlled by charts, usuallyprominently displayed on office walls.
1950 1969
US defence projects exploit critical path networkanalysis
Mainframe computers can run projectmanagement software in batch mode
Project management becomes a recognizedprofession
More concern for people at work
The emergence of mainframe digital computers made theprocessing and updating of critical path networks fasterand easier. The American defence industry and Du Pontwere among the organizations quick to exploit thispowerful planning and scheduling tool in the 1950s. Themanufacturing and construction industries soon came to
recognize the benefits of these new methods. Computerswere large, extremely expensive, and required their owndedicated air-conditioned clean rooms. Their capital andoperating costs were beyond the budgets of all but thebiggest organizations, so that many planners in smallercompanies bought their computing time from bureaux,where project schedules were processed in batch mode.These bureau facilities were provided both by computermanufacturers and by large companies whose computershad free time
Project management became a recognized job
description, if not yet a respected profession. Companieswere showing more concern for the welfare of people atwork, although discrimination because of race, sex andage was still too common.
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Do not forget small kindness and do not remember small faults. Chinese
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During this decade project managers became far ledependent upon IT experts. They now had their owdesktop computers that could run most projemanagement software. Graphics were greaimproved, with smaller printers available locally in toffice that could produce complex charts in macolours. However, productivity did not match thgrowth in technology as quickly as one might havexpected because managers became more interestin the technology itself than in the work that it wintended to manage. People were frequently segrouped round each others screens asking questiosuch as What happens if you do this? and Have yotried that? or Why has it crashed and lost all my dataIn other words managers had to learn to becomcomputer literate and be far less dependent on experts.
Software that could run activity-on-arrow networbecame obsolete. All planners have since had to uactivity-on-node (precedence) networks in thcomputers and adapt to the relatively small areas network visible on the small screen. Howeveprocessing times were cut dramatically, so thschedules could be up and running much faster fnew projects. Schedules could now be updated almoimmediately from the planners own keyboard to copwith progress information and project changes.
1990 2000+
PCs and notebooks can run all applications
More interest in project risk
IT and industrial project management no longconsidered so differently
Project management is a respected professiwith flourishing associations
Wider acceptance of project management as profession Worldwide Communication by satellite a
the Internet.
Project management although project managementsoftware became more widely available, processingcontinued to be carried out on big expensivemainframe computers in batch mode. Graphics wereprimitive compared with modern equipment. Data inputwas still accomplished by copying data from networkdiagrams on to coding sheets from which cards had tobe punched and verified, sometimes needing two cardsfor every network activity. After sorting, these punchedcards had to be taken to trained computer operators,who worked in clean air-conditioned rooms where entrywas usually forbidden to project managers.
The first process results always seemed to produce alarge pile of print-out listing a crop of errors thatneeded considerable detective work before the faultscould be identified, and then corrected by punchingseveral new cards before the computer could produceits practical working schedules.
All the output reports in those early computing dayscame as text from line printers, so that graphics suchas bar charts were crudely formed from patterns ofalphanumeric characters. Yet the process wasstimulating, exciting and fun. We had our mishaps, forexample when over 2000 pre-sorted punched cardswere accidentally scattered over the floor of theLondon taxicab that was transporting them to thecomputer bureau. But we got our schedules calculated,managed our projects and enjoyed ourselves in theprocess
1980 1989
Desktop computers can run powerful Projectmanagement software
Better graphics, with colour
Managers less dependent on IT experts
Computers cannot now run arrow networks andPrecedence becomes the norm
Wider acceptance of Project Management as aProfession
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things you cannot recover in life: the WORD after its said, the MOMENT after its missed and the TIME after its
gone. Be Careful.! Unknown
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Practically all software suppliers recognized theneed to make their products compatible withMicrosoft Windows. Microsoft themselvesintroduced Microsoft Project into their Office suiteof programs. One or two operating and plottingfaults in very early versions of Microsoft Project
were eliminated in later versions, and the programis now by far the most widely used, especiallyamong students who appreciate its user-friendlyfeatures (www.microsoft.com/office/project).However, many professionals continue to useprograms at the high end of the software market,preferring their greater power, versatility andadaptability for particular project applications.
Project risk is taken seriously and people paymore attention to predicting risk events so that
contingencies and risk mitigation strategies can beplanned. Of immense importance is the power ofcommunication made possible by satellites andthe Internet, effectively shrinking the world andmaking it possible to transmit drawings, reportsand other documents almost instantaneously toalmost anywhere. Introduction Projectmanagement is no longer considered as twoseparate branches (one for industrial projects andanother for IT projects). There is wider andwelcome acceptance that managing company
changes as projects can bring faster and betterresults.
In spite of failures, we should be proud of themany successful modern projects, in aviation,aerospace, construction, medicine and all otherbranches of human industry. Apart from the threatof hostilities and terrorism, it seems certain thatclimate change and the exhaustion of natural fossilfuel resources will provide the biggest challengesin the future. We shall need effective project
managers to deal with these challenges ifhumankind is to survive
Phases of Project Management Life Cycle
Some projects come into being gradually, anothers fade out slowly, so that their precisbeginning and end dates can be difficult recognize. However, most projects have not on
actual beginning and end dates but also one more significant dates between these can bidentified as key events or milestones.
The period between the beginning and end of project is usually referred to as the projelifecycle. It is convenient and necessary here introduce three key players in the project life cycl
The customer (in some projects known as th
client) is the person or organization that wants
buy the project and put the end product to use its own business or sell (or lease) it on to a thiparty.
The contractor is the organization principaresponsible to the customer for carrying out thproject work.
The project manager is people employed by th
contractor (or occasionally by the customer) plan and manage all the project activities so th
the project is finished on time, within budget anwithin its specification.
Phases of Project Life Cycle:
1. Analysis and Evaluation Process: Thproject manager conducts the analysis the problem and submits a detailed repoto the top management. The report shouconsist of what the problem is, ways solving the problem, the objectives to b
achieved and the success rate of achievinthe goal.
When you stop chasing the wrong things you give the right things a chance to catch you. By learning you will teach;
by teaching you will understand - Latin Proverb
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3. Marketing:A project proposal is prepared bya group of people including the projectmanager. This proposal has to contain thestrategies adopted to market the product tothe customers.
4. Design: Based on the inputs received in theform of project feasibility study, preliminaryproject evaluation, project proposal andcustomer interviews , following outputs areproduced:
o System design specification
o Program functional specification
o Program design specification
o Project plan
5. Inspecting, testing and Delivery: Theproject team works under the guidanceof the project manager. The project managerhas to ensure that the team working underhim implements the project designsaccurately. The project has to be tracked ormonitored through its cost, manpower and
schedule. The tasks involved are:
o Managing the customer
o Marketing the future work
o Performing quality control work
.
6. Post completion analysis:After deliveor completion of the project, the staperformance has to be evaluated. Thtasks involved are:
o Documenting the lessons lear
from the project
o Analysing project feedback
o Preparing project execution repor
o Analysing the problemencountered during the project.
Three things you cannot recover in life: the WORD after its said, the MOMENT after its missed and the TIME after
its gone. Be Careful! Unknown
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NEWS AND EVENTS
Date: 7thFeb 2014 (Friday)
Event: Management Game FISH BOWL
Venue: College Auditorium
COMMERCE QUIZ
Commerce Quiz
1. The loss on the sale of furniture is debited to
a. P&L a/c c. Trading a/c
b. Furniture a/c d. Depreciation a/c
2. Disinvestment commission was set up in:
a. 1995 b. 1996 c. 1997 d. 1998
3. GIC was incorporated in :
a. Jan 1972 b. July 1972 c. Nov 1972 d. Jan 1973
4. What is the maximum limit of FDI in insurance sector in India?
a 26% b. 49% c. 23% d. 10%
5. Minimum paid up capital required to incorporate a publ ic limited company is
a. Rs.20000 b. Rs.100000 c. Rs.500000 d. Rs.1000000
Kindly, send in your answers by 28th Feb 2014to Commerce and Management departmentor sent it via email to
macauro13@ mail.com Mention our Name Class and Section
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Date: 30thJan 2014 (Friday)
Event: FDP Paper Presentation
Venue: College Classroom
Knowledge and Royalty cannot be weighed together
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FACTS AND FIGURES
TIT BITS
Newsletter will be uploaded on to the web every
fortnight. We invite readers contribution in the
form of articles or short essay on topics relating
to commerce and management. E-mail the softcopy of the same to [email protected] by
5th
and 20th
of every month.
Feel free to give suggestions, opinions and
reactions to any of the article published.
Contact Media Team for any further
information.
www.macauro.blogspot.in
www.facebook/macauro.macauro
Till January Government distributes 57 CroresAdhar Cards.
Rupee to Dollar stands at Rs 62.11
Madhya Pradesh, Odhisa and Manipur excel in foodgrain production 2012-13.
Implementation of Food Security Bill to costgovernment Rs 88,500 cr.
India and Asian Development Bank (ADB) Sign$275 Million Loan Agreement to Improve RuralRoads Connectivity.
Top ten Project Management Trends in
2014
Virtual Learning
Agile expands in Asia
Project Management Institutes new Credential
Seeking professional help
Implementing Project portfolio ManagementTools
Servant leadership
Benchmarking
Approaches to get back on track
Job Placement ( 4200 project management
positions available on LinkedIn Only in NewYork)
Leading the team not Managing
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Newsletter will be uploaded on to the web
every fortnight. We invite readers
contribution in the form of articles or short
essay on topics relating to commerce and
management. E-mail the soft copy of the same
to [email protected] by 5th
and 20th
of
every month.
Feel free to give suggestions, opinions and
reactions to any of the article published.
Contact Media Team for any further
information.
www.macauro.blogspot.in
www.facebook/macauro.macauro
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