Project
Management
Overview
Project Management Part 2
1
Definition of a project Temporary. This key characteristic means that every project has a finite start and a finite
end. The start is the time when the project is initiated and its concept is developed. The
end is reached when all objectives of the project have been met (or unmet if it’s
obvious that the project cannot be completed – then it’s terminated).
Unique Deliverable(s). Any project aims to produce some deliverable(s) which can be a
product, service, or some another result. Deliverables should address a problem or
need analysed before project start.
Progressive Elaboration. With the progress of a project, continuous investigation and
improvement become available, and all this allows producing more accurate and
comprehensive plans. This key characteristic means that the successive iterations of
planning processes result in developing more effective solutions to progress and
develop long-term projects.
A conventional project is:
• Purposeful as it has a rational and measurable purchase;
• Logical as it has a certain lifecycle;
• Structured as it has inter-dependencies between its tasks and activities;
• Conflict as it tries to solve a problem that creates some kind of conflict;
• Limited by available resources; and
• Risk as it involves an element of change with a negative impact.
2
Unique
• Completely new • Take care to assess
product or service. whether the project
• Creation of new or services is not
process. part of a repeating,
daily operation.
• Product or service
new to this group of
people.
3
Time limited Have a start and end date.
May be measured as “will be complete when a particular objective is
achieved”.
If it simply continues forever or to an unspecified end-date it is probably
an ongoing business activity.
Important to call it when it is done. So, when is it done?
Objective is achieved. Time limit is reached. Objective is abandoned.
4
Expanded definition of
a project
• A project is something which is temporary, with
a definite start and finish.
• Creates a unique product or service, non-
repetitive.
• Single point or responsibility, the project
manager.
• A specific objective.
• Completed within a given
time/cost/performance parameter.
• Utilises resources from different areas/units.
• Client = sponsor.
• Projects have a defined quality – good enough.
• Involves uncertainty = RISK (must be managed).
5
Five key areas which we will analyse in more depth later:
1. Schedule Baseline (on-time);
Measuring 2.
3.
Quality Assurance (on target);
Project Budget;
Project Success 4.
5.
Stakeholder Satisfaction;
Performance to Business Case;
6. Use software to measure success.
6
Triple
constraint
introduction
Triple constraint principle
The triple constraints of project management—also
known as the project management triangle or the iron
triangle—are scope, cost, and time.
One must balance these three elements in every project,
and doing so can be challenging because they all affect
one another.
There are trade-offs when balancing scope, cost, and
time, and you must decide what you are willing to
sacrifice in order to maintain project alignment and
functionality.
For example, your project can only stay within scope if
your project’s budget and time allotments stay steady. If
you want to finish the project in less time, your scope
must also decrease to balance out the project unless
you’re able to make adjustments to the budget.
8
Identify the largest or most important project that you have
been part of.
Exercise in Identify how this undertaking met the definition
requirements of being a project.
Groups What role did you play in the project?
How was your experience of working in a project different
from your day-to-day operations?
