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8/12/2019 Lecture 2 Fundamentals of Project Management
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Lecture II
In the beginning God created the universe.
All subsequent projects have been of lesser significance.
- Anonymous
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Facets of a Project
Temporary
Unique product, services or resultProgressive Elaboration
Requires resources
Involves uncertainty
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Difference Between Projects &Routine Operations
PROJECTS
New types of tasks
Require extensiveplanning
Unique outputs
Starting and endingdate
Limited funds
OPERATIONS
Day to Day activity
Repetitive
Same type ofoutput
No ending date
SIMILARITIES
Purpose of a project is to attain itsobjective and then terminate
The objective of an ongoing operation isto sustain the business
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Examples
Building a water system for community
Manufacturing Skoda cars in a plant
Running MPM program at BahriaUniversity
Research on Higgs Boson
Establishing solar powered parkTelephony services at home
Feasibility study of power generationthrou h wind mills
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History of Project Management
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Ancient feats of construction
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Taj Mahal
20,000 workers
Craftsmen from allaround the world,
China, Bukhara,Syria, Afghanistan,Persia, Tibet, India,Sri Lanka
Approximately 12+10years to complete
1000 elephants
Completed in 1643
32 million rupees in
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77,000 sqmeters ofspace
Built in 1703
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1933-1937
$37 million
Finished $1.3
million underbudget
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AirbusA380
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IPMA: International Public Mgt Asso
AACE: Assoc for advancement of cost engineeringCCPM: Critical chain PM
PMBOK 5
2013
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Why Start Projects?
Market demand
Business need
Customer request
Technological advance
Legal requirement
Social need
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Why Start Projects?
Market demand
Business need
Customer request
Technological advance
Legal requirement
Social need
An oil company builds a new refinery in response to gasoline shortages
Training company authorizes a project to createa new course to increase revenue
Electric utility company starts a project to build as new substationto serve a new locality
3 D HD TVs
Paint Company authorizes a project to establish guide linesto handle toxic material
Government starts Rescue 911 emergency services
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Project Management
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Modern day Pioneers 1900 Fredrick Taylor
(worker productivity)
1930 Henry Gantt(Gantt Charts)
1950 Willard Fazar(Program Evaluation and ReviewTechnique PERT
)
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Food for thought
Project Management has been around forcenturies
Principles are same Priorities differ (from place to place and time
to time)
Methodologies may differQUESTION
Are you going to benefit from Project
Management?
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Project Management Need
Multiple people Multiple resources (labs, equipment,
etc.) Multiple tasks some must precede
others Multiple decision points approvals Phased expenditure of funds Matching of people/resources to tasks
Complex project needs coordination of :
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Project Manager
PracticalExperien
ce inProject
Mgmt
PracticalExperien
ce (Relevant
Field)
Motivator
Communicator
Organizer
ConflictResolver
A person who manages a project
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HELL
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Triple Constraints
SCOPEIncreased Scope = increased time + increased
cost
Tight Time= increased costs + reduced scopeTight Budget= increased time + reduced scope.
QUALITY
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Transition Process
Different project constraints can come intoplay at different times in the project and eachof these constraint needs to be evaluated interms of customer satisfaction