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Project Management: Lecture 1
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What is a Project?
• Project Defined–“A project is a temporary endeavor undertaken to
create a unique product or service or result” (PMI, 2013)
• Major Characteristics of a Project–Has an established objective/Deliverable.–Its Unique or desired output is not generated before–Has a defined life span with a beginning and an end.–Planned, controlled and Requires across-the-
organizational participation.–Has specific time, cost, and performance requirements.
Triple Constraints
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Projects are evaluated according to accomplishment, cost and time spent. These triple constraints pose a high degree of accountability than you typically find in most jobs.
These three also highlight one of the primary functions of project management, which is the trade-off between time, cost and performance while ultimately satisfying the customer/client.
Project Success – An Example
Burj Khalifa• Tallest Man-made Structure in the World.• Started on 6th, January 2004 and completed on 30th,
December 2009.• Took 1,325 Days to construct and Opened on 4th,
January 2010.• Total cost incurred was USD $ 1.5 billion = AED
5509725000.00.
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Project Success – Burj-Khalifa
Records• Tallest existing structure: 829.8 m (2,722 ft)• Tallest structure ever built: 829.8 m (2,722 ft)• Tallest freestanding structure: 829.8 m (2,722 ft)• Tallest skyscraper (to top of spire): 829.8 m (2,722 ft)• Tallest skyscraper to top of antenna: 829.8 m (2,722 ft)• Building with most floors: 163 (previously World Trade
Center – 110)• Building with world's highest occupied floor: 584.5 m
(1,918 ft)• World's highest elevator installation (situated inside a rod at
the very top of the building)• World's longest travel distance elevators: 504m (1,654 ft)
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Project Success – Burj-Al-Khalifa
Records• Highest vertical concrete pumping (for a building): 606 m
(1,988 ft).• World's tallest structure that includes residential space.• World's highest observation deck: 148th floor at 555 m
(1,821 ft)• World's highest outdoor observation deck: 124th floor at 452 m
(1,483 ft)• World's highest installation of an aluminium and glass façade:
512 m (1,680 ft)• World's highest nightclub: 144th floor• World's highest restaurant (At.mosphere): 122nd floor at 442 m
(1,450 ft)• World's second highest swimming pool: 76th floor
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Projects - Examples
• GiTex Shoppers.• RetailME Awards 2015.• Making of ‘300: Rise of an Empire’, ‘Avatar’,
‘KungFu Panda’ and every movie.• Launch of iPhone 6s.• Muhammad Bin Rashid City.• Madinat Jumeirah expansion.• Almost everything else.
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“All of Mankind’s greatest accomplishments – from building the great pyramids to discovering a cure for polio to putting a man on moon – began as a project”.
Portfolio, Program and Projects
• Portfolio–A collection of Projects and Programs that are
grouped together for pursuing objectives focused on business strategy.
• Program Defined–A series of coordinated, related, multiple projects that
continue over an extended time and are intended to achieve a goal.
–Examples:• Project: completion of a required course
in project management.• Program: completion of all courses required
for a business major.
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Relationship between Portfolio Management, Program Management and Project Management
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Project Life Cycle
1–11Adopted From Gray, Larson, & Desai. (2014). Project Management: the managerial process (6e), McGraw-Hill Publishers.
Business Value
• 80 percent of global executives believed having project management as a core competency helped them remain competitive during the recession.
• Nearly 60 percent of senior executives said building a strong project management discipline is a top-three priority for their companies as they look to the future.
• “Good project management discipline stopped us from spending money on projects that fail,” (Kasabian, GM Intel)
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The Challenge of Project Management
• The Project Manager–Manages temporary, non-repetitive activities and
frequently acts independently of the formal organization.
• Marshals resources for the project.• Is linked directly to the customer interface.• Provides direction, coordination, and integration
to the project team.• Is responsible for performance and success of the
project.
–Must induce the right people at the right time to address the right issues and make the right decisions.
Initiating
Planning
Executing
Monitoring &
Controlling
Closing
•A process group is a logical grouping of activities, inputs, tools, techniques, and outputs required for any type of project.
Project Management Process Groups
Define a new project or new phase,
identify stakeholders, and obtain
authorization
“Authorize the Work”
Develop an integrated project
management plan to attain project
objectives
“Plan the Work”
Complete the work and satisfy project
objectives
“Work the Plan”
Track and review project progress and
performance; manage variance and
change
“Control the Plan”
Finalize all activities and formally close
the project or phase
“End the Work”
• Project Charter• Stakeholder
Register
• Project Mgt. Plans & Related Documents- Scope- Requirements- Schedule- Cost- Quality- Human Resources- Communication- Risk- Procurement- Change- Stakeholders
• Project Deliverables• Work Performance
Data• Team Performance
Assessments• Project
Communications (e.g. status reports)
• Selected Suppliers & Agreements
• Change Requests• Issue Log
• Change Logs• Approved Change
Requests• Work Performance
Information• Schedule Forecasts• Cost Forecasts• Updates to Project
Plan• Quality Control
Measurements• Verified Deliverable• Accepted
Deliverables
• Final Product, Service, or Result (i.e. purpose of project)
• Closed Procurement (e.g. formal signature of acceptance)
Acti
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Knowledge Areas
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A project manager is responsible for applying and managing the following ten knowledge areas:
Identify, define, combine, unify and coordinate activities within the Project Management Process GroupsIntegration
Ensure the project includes all work required to complete the project successfullyScope
Manage the timely completion of the projectTime Manage the planning, estimating, budgeting, financing, funding, monitoring, and controlling of cost to enable the project to be completed within the approved budget
Cost
Determine quality policies , objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken Quality
Organize, manage, and lead the project team, including the identification of roles, responsibilities, required skills, and reporting relationships
Human Resources
Ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring and disposition of project information
Communication
Identify and assess risks, plan responses, and control risk to increase the likelihood and impact of positive events and decrease the likelihood and impact of negative events on the project
Risk
Purchase or acquire and control products, services, or results needed from outside the project teamProcurement
Identify people, groups, or organizations that could impact or be impacted by the project; analyze expectations, and develop strategies to engage stakeholders in decisions and activities
Stakeholders
Knowledge Areas and Process Groups
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Activity within each knowledge area is applied based on the appropriate process group.
Process Groups
Knowledge Areas
(Below)Initiating Planning Executing
Monitoring & Controlling Closing
Integration Applicable Applicable Applicable Applicable Applicable
Scope Applicable Applicable
Time Applicable Applicable
Cost Applicable Applicable
Quality Applicable Applicable Applicable
Human Resources Applicable Applicable
Communication Applicable Applicable Applicable
Risk Applicable Applicable
Procurement Applicable Applicable Applicable Applicable
Stakeholders Applicable Applicable Applicable Applicable
Each shaded intersection has defined activities, inputs, tools & techniques, and outputs
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Current Drivers of Project Management
• Factors leading to the increased use of project management:–Compression of the product life cycle–Knowledge explosion–Triple bottom line (planet, people, profit)–Corporate downsizing–Increased customer focus–Small projects represent big problems
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Project Governance: An Integrative Approach
• Integration (or centralization) of project management 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 firm’s improvement in managing
projects relative to others in the industry–Linkages of senior management with actual project
execution management
Alignment of Projects with Organizational Strategy
• Problems resulting from the uncoordinated project management systems include:–Projects that do not support the organization’s overall
strategic plan and goals.
–Independent managerial decisions that create internal imbalances, conflicts and confusion resulting in dissatisfied customers.
–Failure to prioritize projects results in the waste of resources on non-value-added activities/projects.
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Major Functions of Portfolio Management: The “Science” and “Art” of Project Management
• Oversee project selection.
• Monitor aggregate resource levels and skills.
• Encourage use of best practices.
• Balance projects in the portfolio in order to represent a risk level appropriate to the organization.
• Improve communication among all stakeholders.
• Create a total organization perspective that goes beyond silo thinking.
• Improve overall management of projects over time.
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What’s been covered in this Lecture?
1. Projects: An Introduction1. Definitions and Characteristics of Projects
2. Creations/Outcomes of Projects (Examples)
3. Project Life Cycle
2. Business Value of Project Management
3. Portfolio, Program and Project Management – their Relationship with each other
4. Project Management1. 5 Process Groups with 47 individual processes
2. 10 Knowledge Areas
5. Project Manager – Role, responsibilities and needed Skills
6. Drivers of Project Management