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Key Areas of Project Management

Prepared By: Rakesh SatpathyBusiness Analyst

HireCraft Software Private Limited

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1. WHAT IS A PROJECT?

The formal definition of a “Project” as per the Project Management Body of Knowledge (PMBOK) defines a project as a temporary endeavor undertaken to create a unique product, service or result. The temporary nature of projects indicates a definite beginning and end. The end is reached when the project’s objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists.

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2. WHAT IS PROJECT MANAGEMENT?

Project management is a methodical approach to planning and guiding project processes from start to finish. According to the PMI, the processes are guided through five stages: initiation, planning, executing, controlling, and closing.

1. Scope2. Time3. Cost and 4. Quality

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3. What is the Need for Project Management?

The Top Ten Reasons Why we Need Project Management1. Control scope creep and manage change: - Small changes in demands occur on every project. Individually, they may appear

acceptable, but collectively these project demands can add up to a significant project expansion (referred to as “scope creep”) that can overrun your budget.

2. Deliver project results on time and on budget: - Project planning starts with a well thought out business case justification that-

usually includes some type of cost calculation associated with Return On Investment (ROI).

3. Focus the project team on the solution:- The project team can easily drift off topic and spend too much time on the wrong

tasks.  A good  project management keeps the project team focused by using a clear and concise project charter & resolving barriers.

4. Obtain project buy-in from disparate groups: - As President Lincoln once said, “Public sentiment is everything. With it,

nothing can fail; without it, nothing can succeed.”In the initiation phase of project management to collect user requirements, project

constraints, and a feasibility study to build a strong business case justification.

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3. What is the Need for Project Management? Contd..

5. Define the critical path to optimally complete your project;Every project is made up of a series of connected activities, each of which has

its own constraints.  The project manager identifies the critical path of activities — the optimal sequence of actions that best ensure the project’s successful completion.

6. Provide a process for estimating project resources, time, and costs;Using project management software, previous project experiences, and a

solid project initiation phase can provide the discipline needed to reduce project estimating errors, increasing the likelihood that the project will finish on time and on budget.

7. Communicate project progress, risks, and changes;As a project progresses, stakeholders must be kept informed of the outcomes,

changes, stumbling blocks, or successes that the project experiences.  Project management creates a project communication plan to address these communicationissues, provide a format, and lay out a process for execution.

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3. What is the Need for Project Management? Contd..

8. Surface and explore project assumptions:

Relying on too many unconfirmed assumptions can invalidate a project schedule or, worse, sink the project.

9. Prepare for unexpected project issues/risks; and:

10. Document, transfer, and apply lessons learned from your projects:

The last phase of project management focuses on “closing out” the project.  the next project.

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4. Project Management ProcessesProjects are composed of processes. A process is “a series of actions

bringing about a result”. Project processes are performed by people are:Project Management Processes are concerned with describing and organizing

the work of the project.Processes are as follows:1. Initiating Processes: recognizing that a project or phase should begin

and committing to do so.

2. Planning Processes: devising and maintaining a workable scheme to accomplish the business need that the project was undertaken to address.

3. Executing Processes: coordinating people and other resources to carry out the plan.

4. Controlling Processes: ensuring that project objectives are met by monitoring and measuring progress and taking action when necessary.

5. Closing Process: formalizing acceptance of the project or phase and bringing it to an orderly end.

Note: The Process Groups are linked by the results they produce – the result or outcome of one becomes an input to another.

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4. Project Management Processes contd..

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5. Communication Flow: How the improper communication can be a hindrance in Project Delivery

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6. Project Management Skills1. Start with a Solid Foundation         2. Do More Listening Than Talking    3. Don’t Be Afraid to Ask Questions4. Be Patient with Your Explanations5. Explain Your Reasons and Thought Processes6. Give Advice When Needed7. Avoid Technical Jargons8. Avoid Assumptions9. Use Examples Whenever Required10.Put it in Writing(Documentation)11.Keep it Professional

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7. Why are Soft skills essential in Project Management?

IntroductionSuccess at the workplace for any professional is determined primarily by two skill sets. The first are the

hard skills and the second are the soft skills. Before we can take the discussion further, it is important to understand the difference between the two.

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7. Why are Soft skills essential in Project Management?

Hard Skills Vs. Soft SkillsHard Skills : These are the technical skills that are

associated with a respective profession. For example for a software engineer it would be his or her proficiency level with a programming language. For an implementation engineer it would be the proficiency in implementation.

Soft Skills: Soft skills are also referred to as people skills as these are the skills that determine a persons interactions and dealings with coworkers, clients and people in general. Examples of soft skills are ability to think critically, leadership skills, attitude and motivation to specify a few.

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7. Why are Soft skills essential in Project Management? Contd..

With the soft skills you can excel as a leader. Problem solving, delegating, motivating, and team building are all much easier if you have good soft skills. Knowing how to get along with people – and displaying a positive attitude – are crucial for success.

Some of them are as follows:

People Skills/Management Delegating Motivating & Team Building Listening actively and effectively

Soft Skills are what are termed as people skills or interpersonal skills. These determine an persons attitude towards his work, organization, clients and colleagues.

Soft skills is not just about communicating, but includes ability to manage stress, ability to organize, ability to provide solutions etc.

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8. Risk Identification & Mitigation

Risk Management is the name given to a logical and systematic method of identifying, analyzing, treating and monitoring the risks involved in any activity or process.

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Defining types of risk, for instance, ‘Strategic’ risks to the goals and objectives of the organization.

• Identifying the stakeholders, (i.e., who is involved or affected).

• Past events, future developments.

Identify the risksIdentify the risks

Monitor and reviewMonitor and review

Communicate & consultCommunicate & consult

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8. Risk Identification & Mitigation contd..

How likely is the risk event to happen? (Probability and frequency?)

What would be the impact, cost or consequences of that event occurring?

(Economic, political, social?)

How likely is the risk event to happen? (Probability and frequency?)

What would be the impact, cost or consequences of that event occurring?

(Economic, political, social?)

Analyze the Risks

Monitor & Review

Communicate & Consult

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8. Definitions of Risk Headlights contd..

Headlight Risk Mitigation plan

nGreen

Low Defined

nYellow

Medium Defined, but waiting to see evidence of effectiveness.

nRed

High Risk of delay to milestone or key deliverable

Mitigation plan is ineffective

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9. Project Controls

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9. Project Controls contd..

- Maintaining proper control really requires that you consider three parameters: (a) where you are, compared with where you’re supposed to be; (b) what lies ahead that can affect you; and (c) where you’re going to end up, compared with where you said you would end up.

- Different Project Controls: 1. Milestones 1.1 The project should be divided into major and minor

milestones which will act as checkpoints to reduce the risk of failure and to ensure

that any issues or projected timeline slippages are highlighted at the

earliest juncture.

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9. Project Controls contd..

1.2 Status Reports- Twice weekly reports on Monday and Wednesday are to be

submitted toillustrate the following: 1.2.1 Actions Planned: with estimated start dates, duration,

resourcerequirements and dependencies- 1.2.2 Actions Performed: with time / resources spent,

estimate of percentagetask completed and estimate of time left to complete; along with

issuesthat have been encountered, resolved or that remain outstanding- 1.2.3 Actions Pending: With explanation why action is

pending and stepsrequired to resolve any issues.

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10. Major Causes of Project FailureThere are 10 major causes of Project Failure:

1. Lack of Change Management:Problems:- Not having a method to handle or recognize changes.What to do?- Document the change management process to be used and

followed by the Project Team- Educate the Project Team to recognize - Follow the Change Management Process

2. Poor Communications: Problems:- Team Members do not have inputs when they need it.- Project Reporting- Issues or Changes do not get escalated

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10. Major Causes of Project Failure contd..

What to do?- Who needs the information?- What do they need to know?- How do they want it?- When and how often do they need it?- How should it be delivered and by whom?

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10. Major Causes of Project Failure contd..

3. Poorly Defined Requirements:

- What the Customers want not clearly documented?

- The Customers did not sign off the document

What to do?- Find out and document exactly what the

customer wants.- Inform Everybody of the Project Scope- Document Business, Functional and Technical

Requirements and get it signed.

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10. Major Causes of Project Failure contd..

4. Poor Risk Management:

Problems:- No formal Risk ManagementWhat to Do?- Identify what can go wrong for each piece of

work- Prioritize Each Risk (High/Medium/Low

Probability)

5. No Time For Project ManagementProblems:- Planning is poor from start- Underestimation of the Challenges

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10. Major Causes of Project Failure contd..

5. No Time For Project Management contd..

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10. Major Causes of Project Failure contd..

6. Improved Project Management Skill Sets

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10. Major Causes of Project Failure contd..

6. Improved Project Management Skill Sets contd..Problems: - People Often don’t know what they don’t know- Their Projects are out of control but they don’t know why?

What to do?- Learn the methods, tools and techniques of Project

Management.

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11. Stakeholder AnalysisUnderstanding Key StakeholdersKey questions that can help you understand your stakeholders

are:1. What financial or emotional interest do they have in the outcome of

your work? Is it positive or negative?2. What motivates them most of all?3. What information do they want from you?4. How do they want to receive information from you? What is the best

way of communicating your message to them?5. What is their current opinion of your work? 6. Who influences their opinions generally, and who influences their

opinion of you? Do some of these influencers therefore become important stakeholders in their own right?

7. If they are not likely to be positive, what will win them around to support your project?

8. If you don't think you will be able to win them around, how will you manage their opposition?

9. Who else might be influenced by their opinions? Do these people become stakeholders in their own right?

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11. Stakeholder Analysis

A very good way of answering these questions is to talk to your stakeholders directly – people are often quite open about their views, and asking people's opinions is often the first step in building a successful relationship with them.

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Thank YouQ&A’s