01 Modern Project Management

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Modern Project Management

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Quality

All of mankinds greatest accomplishment from

building the great pyramids to discovering a cure for

polio to putting a man on the moon began as a project


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Why project Management?It is not a special-need management. It is a standard way of doing business

Compression of the Product Life Cycle

High tech industries product life cycle is averaging 6 months to 3 yearsTime to Market (Speed becomes a competitive advantage)

Complexity & Knowledge Explosion

Growth of new knowledge

Complexities in materials, specifications, codes, aesthetics, equipment etc.

Need to integrate divergent technologies

Triple bottom line (planet, people, profit)

Sustainable business practices

Carbon footprint / renewable energy

Corporate downsizingFlatter & leaner organization

Outsourcing

Increased Customer Focus

Small Projects Represents Big Problem (Velocity of change, multi-project environment)

Business environment requires

Innovation, Speed, Flexibility,

Accountability and ContinuousImprovement


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What is a project?

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A project is a temporary endeavorundertaken

to create a unique

product, service or result

What is a project?

How temporary?

Has a definite beginning and end

Ceases when objectives have been met Team is disbanded upon project completion

Unique?

The product or service is different in some way from

other product or services

Project characteristics are progressively elaborated

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Ship building

Building construction

Refinery construction

10 day Tour and Travel

Programs

Some examples

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Projects in our life


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A project has a unique combination of stakeholders

stakeholders personsor organizations that are

actively involved in the project,or whose interests may be

positively or negatively affected

by the project. PMBOK

Guide

Three Groups of Stakeholders

The first group of stakeholders to be

considered are those within the project,

i.e., the project team.

The second group of stakeholders are

those outside of the project, but within the

organization.

Then there is the third group that areoutside of the organization. 6

NOTE:

PMBOK Project

Management Book ofKnowledge


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The Need of the Hour:Project Management (PM)

the application of knowledge, skills, tools

and techniques to project activities to meet

project requirements.

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Project management includes work processes that initiate, plan,execute, monitor & control and close work

Work processes require tradeoffs among the scope, quality, cost, andschedule of the project

PM includes administrative tasks for planning, documenting, andcontrolling work

PM includes leadership tasks for visioning, motivating, and promotingwork associates.


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What Makes Projects Different?

Projects vs. operations

Soft skills and hard skills

Authority, responsibility & Accountability

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Projects vs. Operations

Projects are temporary Projects have unique characteristics

Operations consist of the ongoing work needed toensure that an organization continues to functioneffectively

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e.g. accounting, production.


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Soft Skills and Hard Skills

Soft skills Communication, Presentation, Team work,Interpersonal, Professional ethics, Time management,Stress Management, Leadership.

Hard skills - scheduling, risk analysis, quality control, andbudgeting work

A successful project manager needs both soft and hardskills

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Training, experience, and mentoring are

instrumental in developing necessary skills.


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Authority, Responsibility & Accountability

Projects are most effectively managed with one person beingassigned accountability

Project managers negotiate with functional managers

A project manager needs to develop strong communicationand leadership skills in order to persuade subordinates to focuson the project when other work also beckons.

Functional manager someone with management authority

over an organizational unit. The manager of any group that

actually makes a product or performs a service.11


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Project Life Cycle

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Project Life Cycle

All projects go throughpredictable stages called a project

life cycle.

Life cycle allows for control to assure that the project isproceeding in a satisfactory manner and that the results arelikely to serve its customers intended purpose

13PMBOK Guide


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Project Management Process

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(Defining)


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ProjectLifeCycle

Stages

Definingwhen a project is proposed, planned at a high level, and key participants commit to itin broad terms

Planningstarts after the initial commitment, includes detailed planning, and ends when allstakeholders accept the entire detailed plan

Executingincludes authorizing, executing, monitoring, and controlling work until the customeraccepts the project deliverables

Closingall activities after customer acceptance to ensure project is completed, lessons are

learned, resources are reassigned, and contributions are recognized. 15

Monitoring & Control


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Project Life Cycle Stages

Most companies insist that a project must pass anapproval of some kind to move from one stage tothe next

Toll Gates & Milestones

The project life cycle is highly formalized and veryspecific.

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Project Objectives Triangle

Balancing Time,

Cost and Scope

within theframework of

Quality

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The Triangle of Project

Management

(Budget)(Schedule)

Also called as Triple

Constraints Or Iron Triangle


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PMBOK extends the triple constraints and calls the

following as competing project constraints:

Competing Project Constraints

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Project Vs Program Vs Portfolios

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Portfolio Management

Business Leadership Alignment

Value optimization(risks/rewards)

Program SelectionPortfolio adjustment

Program Management

Business Sponsorship

Multiple projects (interrelatedor interdependent projects)

All elements of businesssystem

Project Management

Delivery of capability

Inputs

Budgets

Schedule

Project: Set up the call centerand hand it over to your client.

The first project is to construct a

school building and the second

project is to construct an office

building. Since these two projects are

similar in nature, you will keep them

under a program. The Benefits of Program Management

Less conflict among projects

Optimal utilization of resources

Resource constraints are minimized

Better communication and coordination

among projects Improves organizations performance

Portfolio refers to a group of related or non-related projects

or programs.

For example, lets say that you have three projects: the first

project is to construct a building, the second project is to

conduct research to find the impact of motor pollution on

the environment, and the third project is to set up a call

center.The Benefits of Portfolio Management

Optimal allocation and utilization of resources

among projects or programs

Provide constant support to projects or programs

Fewer conflicts and better communication among

projects or programs

Better coordination among projects or programsA program is a group of related or similar projects

managed in a coordinated way to get the benefits and

control not available from managing them

individually.

Project VsProgram VsPortfolios

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Projects and Subprojects

A large project may be composed of multiplesubprojects

Subproject a smaller portion of the overall project createdwhen a project is subdivided into more manageable components or

pieces. PMBOK Guide

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Portfolio, Program, Project, andSubproject Relationships

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Project Governance:An Integrative Approach

Integration (or centralization) of projectmanagement provides senior management with:

An overview of all project management activities

A big picture of how organizational resources are used

A risk assessment of their portfolio of projects

A rough metric of the firms improvement in managingprojects relative to others in the industry

Linkages of senior management with actual projectexecution management

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Started in 1969

Worlds leading not-for-profit membership association for the project

management profession

More than half a million members

More than 185 countries

Provide Project Management Professional (PMP) certificates (As on

June 2013, 537400 professional certificate holders)

CAPM (Certified Associate in Project Management) for entry level

project managers as well as for students

Project management is supported by globally-recognized standards

and credentials

PMP (Project Management Professional) Certification

Recognizes Project Management Knowledge and Skills


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PMI India

PMI Organization Centre Private LimitedMumbai, India

E-mail: [email protected]

Website: www.pmi.org.in

PMI's India Service Centre

New Delhi, IndiaTel: +91-124-4517 140


Other Offices

Bengaluru, India

mailto:[email protected]://www.pmi.org.in/mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.pmi.org.in/mailto:[email protected]


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10 Knowledge Area

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Project Management Process Groups

A process is a series of actions directed toward a particularresult.

Project management can be viewed as a number ofinterlinked processes.

The project management process groups include: Initiating processes

Planning processes

Executing processes

Monitoring andcontrolling processes

Closing processes

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P j t M t P (47)


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Project Management Processes (47)


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Summary

A project is a temporary endeavorundertaken to create a unique product orservice

Project management includes work processes that initiate, plan, execute,

control, and close project work.

Balancing between the scope, cost, and schedule without compromising onQuality.

All projects, regardless of size, complexity, or application, need to beplanned and managed.

PMI is a very large professional organization devoted to promoting andstandardizing project management understanding and methods

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An Overview of Project Management


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Backup

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01 Modern Project Management

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