PROJECT MANAGEMENT

Basic ConceptProject: It’s a temporary group activity designed to produce a

unique product, service or result.

Project management: It is the application of knowledge, skills and techniques to execute projects effectively and efficiently. It’s a strategic competency for organizations, enabling them to tie project results to business goals — and thus, better compete in their markets.

The primary challenge of project management is to achieve all of the project goals and objectives while honoring the preconceived constraints. The primary constraints are scope, time, quality and budget. The secondary —and more ambitious— challenge is to optimize the allocation of necessary inputs and integrate them to meet pre-defined objectives.

Project management is all about calculating the pitfalls and creating outlets to avoid the consequences.

All the projects share a common aim – following ideas and activities to shape them into working realities.

Even if the project is well planned and carried still the

possibility of encountering dangers exists.

Importance of Project Management

The importance of project management is an important topic because all organisations, be it small or large at one time or other are involved in implementing new undertakings.

These undertakings may be diverse such as the development of a new product or service; the establishment of a new production line in a manufacturing enterprise; a public relations promotion campaign; or a major building programme.

Points to successful project management in an organization

Understanding client needs

Planning

Clear communication

Implementing Plan

Managing change

Evaluation

STAGES In Project

Management

AdvantagesBusiness advantage: By timely achievement of goals, optimal

resource utilization and information based decision making.

Competitive advantage: Workforce energized by culture of execution and collaboration, customer satisfaction by “profitable” results

Tangible benefits for individuals at various levels in organizations.

Minimization of conflicts and confusions

Considerations

Project Portfolio Management

Resource Management

Document Management

Cost Control

Budget Management

Contd…

Resource Allocation

Communication

Quality Management

Documentation System

Administrative System

Methodologies Plans

Organising

Staffing

Guiding

Monitoring

Innovation

Completion

Objectives

Desired end results

Expenditure

Timely completion

Steps

determining how to plan

developing the scope statement;

selecting the planning team;

identifying deliverables and creating the work breakdown structure;

identifying the activities needed to complete those deliverables and networking the activities in their logical sequence;

Importance Of Project Maintenance

Project Maintenance is an ongoing process, andit includes:

Continuous support of end users

Correction of errors

Updates of the time utilized

Major Project Types

Civil Engineering, Construction,

Petrochemical, Mining, and Quarrying

Manufacturing Projects

Management Projects

Project Identification

Project identification is used to determine the organizational needs .

It explores the users needs, and converts them into a formal, planned, resourced and funded project.

It defines the project’s objectives and goals

Importance of Project Identification

Entrepreneurship Management

It has long term consequences (make or break)

involves commitment which can not be easily reversedIdeas are put into action

Projects are catalytic agents for economic development

Involves creative use of resources- manpower, capital, raw materials etc.

Shortcomings in Managing

Delays in one area not communicated to a dependent area.

Schedules having short-term forecast range.

Long-term planning at the activity-level non-existent.

Schedules not identifying true critical paths and not including non-working time and defect estimates.

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