Lecture(2)_What is Project Management

7/24/2019 Lecture(2)_What is Project Management

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What is a Project?

According to the Project ManagementInstitute (PMI) , a project is any work thathappens only once, has a clear eginning

and end, and is intended to create auni!ue product or knowledge" It may

in#ol#e only one person, or thousands" Itmay last se#eral days, or many years" It

may e undertaken y a singleorgani$ation, or y an alliance o% se#eral

stakeholders" A project may e as simpleas organi$ing a one&day e#ent or as

comple' as constructing a dam on a ri#er"


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Project management is a methodicalapproach to planning and guiding projectprocesses from start to nish.

The processes are guided through vestages: 1)initiation

2) planning

3)executing

4) controlling ) closing.

What is project Management ?


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!nder project initiation comes

Project contracting

Project principles

"egal aspects


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#t is an agreement $et%een t%o parties.

&ne part' is the client and other part' is theone provides services or product.

(ontract gives complete detail of the projecton paper.

What is project contract ?


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"ump um or *ixed Price

+aximum ,uaranteed Price

(ost Plus

Price Per !nit

ypes o% Projects


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1)*igure out %hat $usiness 'ou are in- andthen mind 'our o%n $usiness.

2)!nderstand the customers re/uirementsand put them under version control.

3)Prepare a reasona$le plan.

4)0uild a good team %ith clear o%nership.

Project Managementprinciples


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) Trac project status and give it %idevisi$ilit'.

) !se 0aseline (ontrols.

) 5rite #mportant tu6 7o%n- hare it- andave it.


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8) #f it hasn9t $een tested- it doesn9t %or.

) ;nsure (ustomer atisfaction.

1


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The most important thing.

#t varies from countr' to countr'.

7i6ers from project to project.

egal aspects


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Project o#er#iew

#nspiration

&peration

> miracle occurs


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*ome consider planning to emiraculous 5h' do planning?

Time constraints

0udget constraints

Personnel constraints

Ph'sical (onstraints

*light (onstraints

>n' and all of a$ove


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Purpose o% Project

Management ;nsure meeting the project o$jectives%ithin the allocated schedule @ $udget (ommunication

+eetings Aevie%s >uthoriBation

Aecord Ceeping

+onitoring Dtesting)

#nterface (ontrol Eot for assigning $lame Dusuall')


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Principles of projectmanagement P+ is the process of managing- allocating- and

timing availa$le resources to achieve the desiredgoal of a project in an eFcient and expedientmanner.

P+ is the planning- scheduling and controlling ofproject activities to meet project o$jectives. P+ is %idel' recogniBed as a practical %a' of

ensuring that projects meet o$jectives andproducts are delivered on time- %ithin $udget and

to correct /ualit' specication- %hile at the sametime controlling or maintaining the scope of theproject at the correct level.


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Project management is a$out inGuencingtomorro%. Toda' has alread' happenedand 'esterda' is gone. DPA&>(T#H;)

7ecisions a6ecting tomorro% can onl' $emade on information availa$le toda'.

Project management is a$out managingaset of relationships over time and a$outunderstandingpeople.


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he Project i%e +ycle

Phases that all projects go through frominception to completion

7;#,E

7;H;"&P+;ET

*>0A#(>T#&E

#ET;,A>T#&E

T;T#E,

&P;A>T#&E


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he esign Phase

IPaperJ stud' of all issues including thefollo%ing:

7ene &$jectives !nderstand (onstraints

#dentif' all su$s'stems @ interfaces

7esign hard%are

#dentif' parts- costs @ availa$ilit'

7etermine personnel needs

;sta$lish schedule

7evelop plan to achieve o$jectives


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he e#elopment Phase

7etailed in=depth stud' including Test hard%are concepts $' protot'ping

*inaliBe designs

Purchase long lead items

;sta$lish interface controls (omplete fa$rication plan

*inish integration @ test plans

(omplete operations @ data anal'sis plans


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Payload +onstructionPhases Parts procurement *a$rication

(onstruct su$s'stems- test- x- retest

#ntegration >ssem$le su$s'stems- test- x- retest

Testing Pa'load /ualication testing- x- retest


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-perations . Analysis

#nterface %ith launch team Prepare pa'load for launch +onitor during Gight

(ollect @ anal'Be data


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A#C >E7 !E(;AT>#ETK #EPA&L;(T +>E>,;+;ET

That is- the pro$a$ilit' that the expected result%ill not $e achieved.

*rom conception or identication to

implementation- riss issues arise and do a6ectthe project in a num$er of %a's.

riss ma' $e due to environmental or managerialfactors


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ypes o% /isk

Completion Risks Permitting Risks Price Risks

Resource Risks Operating Risks Casualty Risks Technology Risks


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/isk Management Plan

Ais #dentication Aiss Muantication Ais Aesponse

Ais +onitoring and (ontrol


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Ais #dentication

Ais identication determines %hat mighthappen that could a6ect the o$jectives of theproject- and ho% those things might happen.

identication process must $e comprehensive


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/isk 0uanti1cation

Ais need to $e /uantied in t%odimensions


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/isk /esponse

trategies >void the ris. 7o something to remove it.

!se another supplier for example.

Transfer the ris. +ae someone else responsi$le.

Perhaps a supplier can $e made responsi$le for aparticularl' ris' part of the project.


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+itigate the ris. Tae actions to lessen the impact or chance of the

ris occurring.

#f the ris relates to availa$ilit' of resources- dra% upan agreement and get sign=o6 for the resource to $eavaila$le.

>ccept the ris. The ris might $e so small the e6ort to do an'thing

is not %orth %hile.


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> ris response plan trateg'

action items to address the strateg'. %hat needs to $e done-

%ho is doing it- %hen it should $e completed.


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/isk +ontrol

continuall' monitor riss to identif' an'change in the status- or if the' turn into anissue.

$est to hold regular ris revie%s to : identif' actions outstanding-

identif' ris pro$a$ilit' and impact-

remove riss that have passed-

ne% riss.

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Lecture(2)_What is Project Management