Fundamentals of project management july 7, 2012 revised

FUNDAMENTALS OF PROJECT MANAGEMENT

Project Life Cycle

Overview of Project Initiation

Key Project Initiation Deliverables and Inputs

Limitations of the Project

Initiation Phase of the Project

What is Project Management? It is the acquired knowledge and skills applied using a formal set of tools and techniques to initiate, plan, execute, monitor, control and close projects.

Project Management objectives

Coordinate the various interrelated processes of the project.

•Ensure project includes all the work required, and only the work required, to complete the project successfully.

•Ensure that the project is completed on time and within budget.

Project Management objectives

Ensure that the project will satisfy the needs for which it was undertaken.

Ensure the most effective use of the people involved with the project.

Promote effective communication between the projects team members and key stakeholders.

PROJECT LIFE CYCLE

refers to a logical sequence of activities to accomplish the project’s goals or objectives.

PROJECT LIFE CYCLEInitiation

Planning

Execution/Controlling Phase

Closure

Post- im

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PROJECT LIFE CYCLE

Initiation

In this phase the project scope and timing are determined. Scope means all the things that must be considered are accounted for (such as budget, time allotment, etc.) and those that are not mandatory for the success of the project must be excluded so as to keep the plan on track in terms of time, budget and stakeholder

expectations.

PROJECT LIFE CYCLE

include a detailed identification and assignment of each task until the end of the project. It should also include a risk analysis and a definition of a criteria for the successful completion of each deliverable. The governance process is defined, stake holders identified and reporting frequency and channels agreed.

Planning

PROJECT LIFE CYCLE

This portion is usually the longest portion of the project life cycle and will consume the greatest amount of resources. In this phase, the action items in the project plan are accomplished and the physical deliverables are achieved. This phase also shows the implementation of management processes to ensure that time, cost, quality, change, risks, procurements and any grievances or issues are addressed.

Execution /Controlling Phase

PROJECT LIFE CYCLE

This phase is the wrap-up phase. The project is formally closed and final reports that summarize the project’s successes and lessons learned delivered to the stakeholders. This phase also shows the return of all equipment, the closure of human resource contracts, and the transfer of documentation and deliverables to the customer or stakeholders.

Closure phase

PROJECT LIFE CYCLE

Many companies choose to add on one extra phase to the basic project life cycle structure: the Post-Implementation Phase. One to three months after the completion of the project, a Post-Implementation report is created to evaluate the success of the project and product now that the company has had a chance to evaluate the success of the implementation.

Post-Implementation Phase

PROJECT LIFE CYCLE

Many companies choose to add on one extra phase to the basic project life cycle structure: the Post-Implementation Phase. One to three months after the completion of the project, a Post-Implementation report is created to evaluate the success of the project and product now that the company has had a chance to evaluate the success of the implementation.

Post-Implementation Phase

Key Project initiation Deliverables

Project/Business CaseProject Pre-feasibilityProject Feasibility ReportFormal Project ProposalPreliminary Scope StatementProject Charter

Key Project initiation DeliverablesPROJECT/BUSINESS CASEDemonstrate the business need for a given action; Confirms that a project is feasible before expending significant funding;Considers the strategic internal and external drivers for the project; andAssesses, compares and contrasts the costs and benefits (both monetary and non-monetary) of choosing one course of action over another.

Key Project initiation DeliverablesPROJECT PRE-FEASIBILITYis done to determine whether or not it is necessary for a detailed feasibility study

Have exploratory framework character but usually evolve into full pledged feasibility studies

Key Project initiation DeliverablesPROJECT FEASIBILITYIt is done with the purpose of deter-mining whether or not it a project should be under-taken. A formal study is typically performed on large, complex projects.

It can be very detailed and explicit, spanning volumes in some cases. They look at alternative solutions and come up with the best possible one


PROJECT PRELIMINARY SCOPE STATEMENT

It provides an indication of the project deliverables and serves as a guide for developing the detailed project scope statement and for planning the project.


PROJECT CHARTER

The Project Charter provides the Project Manager and Project Team with the authority to use resources for the purpose of undertaking the project.

The Project Charter is usually short and is issued by the Project Sponsor or a senior official outside the level of the project organization.


PROJECT CHARTER– Project Background– Purpose for undertaking the project– Project Justification– Requirements– Stakeholder expectations from the project– Assumptions and Constraints– Project Organization – Stakeholder Roles and Responsibilities– Schedule and milestones– Indication of budget– Supporting infrastructure

Limitation of the Project Initiation Phase

In the project initiation phase, a typical and serious limitation is the lack of available of “quality information” which exists about the project – especially for complex projects and projects of a kind which have not been attempted before. At initiation a project’s feasibility, outcomes, scope, requirements and specifications, cost, time and risks, stakeholders, resource needs etc. are often not known with a high degree of precision with the result that the project may take longer, cost more and generally be more difficult to do than first thought when it was considered and accepted.

The Initiation Phase of a ProjectAWARENESS OF A NEED

All projects are conceived and undertaken in response to some need (problem, opportunity) – internal, external, legal and other.

The Initiation Phase of a ProjectPROJECT OUTCOMESAll projects have outcomes that are realized subsequent to (and sometimes during) their completion. Some outcomes can be easy to quantify while others may not.

Project outcomes may be positive and/or negative and multifaceted. A negative outcome could be the project’s adverse environmental impact.

The Initiation Phase of a Project

Project Strategic Dimension

The projects which any organization in the commercial and public-sector undertakes must have a “strategic fit” – it must be consistent with the organization’s mission, goals and objectives so that it can “add value” to it.


Project Goal, Objectives, Cost, Time

Every project has one goal which is the ultimate destination of all project initiation, planning, execution and other activities. All projects necessarily incur cost and require time (per definition). Despite the existence of several estimation methods, accurate initial assessment of a project’s cost and time need can be challenging.


Project Scope and Key Deliverables

The goal of a project determines its scope. Scope can be a tricky issue which may cause complications if it not carefully defined. In determining a project’s scope, numerous requirements and specifications (possibly subject to change over the course of the project) may be inputs. Key deliverables of a project are the final composite deliverables.

The Initiation Phase of a ProjectProject Requirements and Specifications

Requirements and specifications are key elements of any project. The success or failure of the project is assessed largely in terms of the extent to which it satisfies its requirements and specifications.

Requirements and specifications imply that a project’s deliverables must exhibit certain defined capabilities in terms of appearance, function, performance etc.


Project Resources

No project can be attempted unless the requisite resources have been made available by the project sponsor and client.

Resource consumption ultimately results in a financial cost but even having abundant funds does not mean that the resources specifically needed for the project in question are available.


Project Stakeholders may range from very few in number to many millions. Their interest in and attitude and behavior towards the project in question may also vary considerably.

When initiating any project, it is essential that the key stakeholders are identified and their stake in the project documented.

Project Stakeholders


Risks are a defining element of projects. Complex projects in particular harbor numerous and diverse risks and if these risks turn into events, they may endanger a project.

When initiating any project it is essential to under-take an initial analysis of the risks inherent to the project, seeking in particular to identify those risks that may have a bearing on the project in the course of its life-cycle..

Project Risks


(Project Assumptions and Constraints)Assumptions may constitute the basis for the subsequent planning and execution of the project.

Constraints are factors which have a limiting effect on how the project is undertaken. These include for example constraints with regard to project policies, recruitment and selection, reporting, financial outlays, completion of activities etc.


(Project Policies, Processes, Systems etc.)

When considering a new project careful thought must therefore, be given to whether the project can be supported to the extent it requires through the organization’s existing assets.

END OF PRESENTATION

Documents

Fundamentals of project management july 7, 2012 revised