Project Management notes

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project management notes for mba student

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Project Management

Learning Objectives

• Defining project, its types & life cycle • Defining project management, its

phases• The role of the project manager• Keys to successful projects• Difference b/w General Management &

Project Management• Project Management Tips

What is a Project?

An organized effort to do something useful or attain a useful end of result.

Reasons for initiating a project

A B

right IdeaThe need to improve a product

A Perceived Need

Characteristics of a Project

╬ Objectives╬ Life span╬ Uniqueness╬ Team Work╬ Life Cycle╬ Customer Specific╬ Complexity╬ Risk & Uncertainty

Project Types

seatseatof theof thepantspants

awaree

Painting Painting by by

numbersnumbers

QuestQuest

FogFog

awareMovieMovie

• The early stages of a business improvement project could be described as ‘fog’ as the organization knows it needs to improve performance but is not sure exactly where to focus.

• As clarity emerges, targets for improvements are set, ‘moving’ the project into a ‘quest’ state, but the best approach to achieve the project is not yet clear.

• As the project further elaborates, the design & implementation details emerge which, when sufficiently clear, lead to the ‘painting by numbers’ state.

Project Types Examples

Project Life Cycle

Conception Phase

• Define the need• Return on Investment Analysis• Make or Buy Decision• Budget Development

Study Phase

• Determine goals, scope and project constraints

• Identify members and their roles• Define communication channels, methods,

frequency and content• Risk management planning

Design Phase

• Resource Planning• Work Breakdown Structure• Project Schedule Development• Quality Assurance Plan

Implementation Phase

• Execute project plan and accomplish project goals

• Training Plan• System Build• Quality Assurance

Learning Objectives

• Defining project, its types & life cycle • Defining project management, its

phases• The role of the project manager• Keys to successful projects• Difference b/w General Management &

Project Management• Project Management Tips

Defining Project Management

• …the application of knowledge, skills, tools and techniques to project activities in order to meet or exceed stakeholders’ needs & expectations from a project

• …it involves coordination of group activity wherein the manager plans, organizes staff & other resources, directs & controls to execute the project within constraints of time, cost & performance.

Identification

Selection Appraisal

Implementation & Management Formulation

Financing decision

Financing decision

Phases of Project Management

Learning Objectives

• Defining project, its types & life cycle • Defining project management, its

phases• The role of the project manager• Keys to successful projects• Difference b/w General Management &

Project Management• Project Management Tips

EMPOWERMENT

The project manager makes things happen!

Learning Objectives

• Defining project, its types & life cycle • Defining project management, its

phases• The role of the project manager• Keys to successful projects• Difference b/w General Management &

Project Management• Project Management Tips

Keys to Successful Projects

or

…Duh?!?

Things you already know but let’s review

anyway

PLAN

• Identify all stakeholders up front!

• Develop the project plan before starting the project

•Establish communications protocols

•Define your requirements in detail

•Make contingency plans

PLAN

LEAD

•Ensure strong, committed management support

•Connect the business goals to the project

•Assign an experienced project manager

•Establish clearly defined directions

•Set clear performance expectations

LEAD

COMMUNICATE

•Communicate objectives frequently

•Recognize different perspectives

•Check assumptions frequently

Communicate

•Manage expectations

•Share success and broadcast achievements

•Invite feedback

Communicate

MANAGE

•Ensure the system design reflects sound planning

•Train all staff in a timely fashion

•Make extensive testing a priority!

Manage

Learning Objectives

• Defining project, its types & life cycle • Defining project management, its

phases• The role of the project manager• Keys to successful projects• Difference b/w General Management

& Project Management• Project Management Tips

Project Management General management

There is ever-changing set of tasks

There is consistent set of tasks

Responsibility is for cross-functional activities

Responsibility is limited to their own function

Operates within organization structures

which exist only for the life of project

Works with permanent organizational structures

Predominantly concerned with innovation

Tasks are described as maintenance

Success is determined by the achievement of stated

end-goals

Success is delivered by achievement of interim

targets

Learning Objectives

• Defining project, its types & life cycle • Defining project management, its

phases• The role of the project manager• Keys to successful projects• Difference b/w General Management &

Project Management• Project Management Tips

Project Management Tips

• Project Manager does no work other than manage the project!

• Project Manager spends 90% of time communicating

• Establish a speedy conflict resolution process

Project Management Tips

• Understand the project flow from beginning to end

• Identify risks and develop contingencies

• Clearly outline the critical path of the project

Project Management Tips

Summary

Defining project, types & life cycle Defining project managementPhases of Project ManagementThe role of the project managerKeys to successful projectsDifference b/w General Management &

Project ManagementProject Management Tips

Project Management Resources

• Project Management Institute – home of the Project Management Body of Knowledge (PMBOK) http://www.pmi.org/Pages/default.aspx

• NYS Project Management Guidebook Release 2 http://www.oft.state.ny.us/pmmp/guidebook2/index.htm

• FNS Handbook 901, Chapter 5 http://www.fns.usda.gov/apd/Handbook_901/V_1-2/Chapter_5.pdf

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