UNIT – 1

Definition of Project
A project is a set of tasks that must be completed within a defined timeline to
accomplish a specific set of goals. These tasks are completed by a group of
people known as the project team, which is led by a project manager, who
oversees the planning, scheduling, tracking and successful completion of projects.

Characteristics Of Project

There are certain features or characteristics that are unique to projects and
differentiate them from the daily operations or other types of activities of an
organization. Here are the main characteristics of a project.

1. Any Project Needs a Project Manager and a Project Team

One of the most important characteristics of a project is that it’s a team

effort. While the structure of project teams might change from one
organization to another, projects usually involve a project manager and a
team of individuals with the necessary skills to execute the task that are
needed.

2. Every Project Needs a Project Plan

Project team members need clear directions from the project manager and
other project leaders so that they can execute the work that’s expected
from them. These directions come in the form of a project plan. However, a
project plan is more than just a set of instructions for the project team. It’s
a comprehensive document that describes every aspect of a project, such
as the project goal, project schedule and project budget among other
important details.
3. All Projects Go Through the Same Project Lifecycle

The project life cycle refers to the five phases all projects must progress
through, from start to finish. The five phases of a project lifecycle serve as
the most basic outline that gives a project definition. These five phases
are initiation, planning, execution, monitoring and closure.

4. All Projects Share the Same Project Constraints

All projects no matter their size or complexity are subject to three main
constraints: time, scope and cost. This simply means that projects must
be completed within a defined timeline, achieve a defined set of tasks and
goals and be delivered under a certain budget.

These project constraints are known as the triple constraint or the project
management triangle and are one of the most important project features to
know about.

5. Every Project Needs Resources

A resource is anything necessary to complete a project, such as for

example, labor, raw materials, machinery and equipment. For example, in
construction, raw materials such as wood, glass or paint are
Essential project resource. That said, other resources — like time, labor
and equipment — are just as important.
A project manager must be able to identify all of the project resources in
order to create a resource plan and manage the resources accordingly.
When resources are left unaccounted for, it is easy to mismanage them.

Types of project

Projects can take many shapes and forms, which makes classifying them
into types a very difficult task that requires different approaches. Here
are some of the types of projects grouped by funding source, industry
and project management methodology.

Types of Projects By Funding Source

One simple way to categorize projects is to look at their source of capital.

 Private projects: Projects that are financed by businesses or

private organizations.
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 Public projects: Projects which are funded by Government
agencies.
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 Mixed projects: Projects that are financed by a public-private
partnership.
Types of Projects By Industry

Projects can be executed by large or small organizations from any

industry. However, some industries are more project-intensive than others.
Here are some of the most common types of projects by industry.

Construction projects: The main goal of any construction

project is to make a building that can be used for different
 purposes such as infrastructure, residential or commercial
use.

 Manufacturing projects: Manufacturing projects consist of

manufacturing physical products to generate profits for a
company.

 IT projects: Information technology projects consist in
establishing an IT framework for the processing of data at
a company-wide scale.

 Software development projects: The main goal of a
software development project is to create a software
product for a client.

 Business projects: The term business project could refer to
creating a new business, creating a new business unit for an
existing company or simply launching a new business
initiative.

Project life cycle

Five phases of project management life cycle :

There are five phases given below as follows.

1. Project Initiation
2. Project Planning
3. Project Execution
4. Project Monitoring and Control
5. Project Closure

Phase-1:Project Initiation :

This is the starting period of your project when you should demonstrate the
undertaking has value and is feasible
Documentation –
Each project has documentation that should be finished before the undertaking
can start vigorously

 Undertaking a feasibility study –

Identify the essential issue your task will tackle and whether your venture will
convey an answer for that issue.

 Recognizing extension –
Define the profundity and broadness of the undertaking.

 Assemble of the team –
 You need resources to execute any project. Before you can make a project
schedule, you need to create a project team with the skill sets and
 experience that the project demands.
 Recognizing expectations –
Define the product or administration to provide.

 Recognizing project partners –
Figure out whom the venture influences and what their requirements might
be.

 Building up a business case –
Use the above standards to think about the possible expenses and
advantages of the task to decide whether it pushes ahead.

 Building up an explanation of work –
Document the undertaking’s goals, extensions, and expectations that you
have distinguished already as a working understanding between the venture
proprietor and those chipping away at the task.

Phase-2: Project planning :

The second stage is project planning, which happens after the venture has
been endorsed. The deliverable of this stage is the undertaking plan, which will
be the guide for the execution and control stages.

Make Task List –

Undertakings are the more modest exercises that develop to the last
deliverable in a venture.
Make a Budget –
Undertakings cost cash. They require colleagues to execute different assets,
 which can incorporate materials, instruments, and so on The financial plan is
an approach to appraise the expense of the task
Risk Management Plan –
it may, things occur, and there are consistent changes, some inside your
control and others outside it.
Interchanges Plan –
Great interchanges imply a fruitful undertaking. To have a reasonable
correspondence plan set up implies you have focused on individuals who
should be kept educated, what level of data they require, the recurrence,
and how they will get it.
Appoint Tasks –
Undertakings are only thoughts until they are given to a colleague to finish.
All the readiness you’ve placed into arranging is subject to getting that task
out to the group

Phase-3: Project execution :

The third stage is project execution, which is the place where most of the work
occurs. This is the stage where you complete the task exercises and
achievements to create the expectations for the customer’s or partner’s
fulfillment by following the arrangement made in the past stage
Assignment Management –
This includes observing and answering to ensure the assignment is being
executed within the period of the arranged timetable.

 Timetable Management –
Whenever you’ve arranged a timetable, you need to screen it through the
task execution to ensure it stays on target
 Cost Management –
Similarly, as you arranged your timetable, you arranged a financial plan. Yet,
that doesn’t mean your task is finished. You need to control the venture
 expenses and keep them inside the concurred spending plan.
 Quality Management –
if the quality is inadequate, the undertaking isn’t effective. In this way, you
need to ensure that you’re meeting whatever quality prerequisites have been
set by your partners.
 Change Management –
changing the board is an interaction for improving business measures,
spending designation, and activities in an association

Phase-4: Task Monitoring and Control :

 The fourth stage is project monitoring and control, which happens
simultaneously with the execution period of the venture. It includes
observing the advancement and execution of the undertaking to guarantee
that it stays on time and inside the spending plan.

 Reporting –

Reporting twofold affects the undertaking. One is that it permits project
directors to follow progress, and two, it gives information to partners during
introductions that keep them on the up and up. Undertaking reports can
differ from task progress to fluctuation and cost.

Phase-5: Project Closure :

The fifth stage is project conclusion, in which the last expectations are
introduced to the customer or partner. When affirmed, assets are delivered,
documentation is finished and everything is approved.

 Affirm Completion –
An undertaking isn’t over until everybody sings. You need to get affirmation
from all partners, customers, and even the group.

 Audit Documentation –
Typically, the venture supervisor is answerable for going over all agreements
and documentation to ensure that all have been great and approved.

 Delivery Resources –
Before a task is truly done, you need to authoritatively deliver the group, any
contractors, rentals

PROJECT MANAGEMENT PROCESS

Project management process is the processes or actions you go

through in order to manage and deliver a project and get it to
progress through the project lifecycle.
The general difference is that project management is used to define,
plan, control, monitor and close the project, while the work
associated with actually building the project deliverables is
accomplished through work that is referred to as the lifecycle.
TOOLS AND TECHNIQUES OF PROJECT MANAGEMENT

project managers use proven project management techniques to

successfully manage a project. A project management technique is a
framework or tool that helps plan, organize and execute a project. There
are many project management techniques available

1. Work Breakdown Structure (WBS)

Work breakdown structure (WBS) is a project management technique that

segments larger projects into more manageable deliverables. WBS
organizes your project by tree-like hierarchy, with your overall project
objective at the top.

2. Critical Path Method (CPM)

The critical path method (CPM) is a project management framework used

to identify the longest sequence of critical activities necessary to complete
a
project on time. This “critical path” represents the shortest time possible
for completing a project. Each activity on the critical path is sequential,
meaning that any delays in a critical task will delay the overall project.

3. Waterfall

The Waterfall method provides a clear plan from the start and identifies
dependencies before the project begins. However, it’s a rigid technique that
may prove challenging if your project scope or objectives change over time.

4. Scrum
The Scrum project management technique is an Agile framework that helps
you manage a project in short cycles called “sprints.” Each sprint lasts
roughly one or two weeks, with daily stand-up meetings to keep
team members on track.

6. Kanban

Kanban is a great technique for visualizing your workflow, managing

tasks and identifying work-in-progress limits. Similar to Scrum, it’s a
flexible project management technique that’s great for projects that
require flexibility and may change over time.

7. PERT

The program evaluation and review technique (PERT) is a project

management technique and tool used to estimate a project’s timeline. It’s
seen as a more complex version of a critical path method (CPM). The PERT
technique first identifies the tasks of a project and calculates three time
estimates for each task: the optimistic time, the pessimistic time and the
most likely time.

SCOPE OF PROJECT MANAGEMENT

Project scope management is a process that helps in

determining and documenting the list of all the project
goals, tasks, deliverables,
deadlines, and budgets as a part of the planning process.
In project management, it is common for a big project to
have modifications along the way.

Importance of project scope management

 A well-defined project scope management helps avoid
common issues like:

 Constantly changing requirements


 Pivoting the project direction when you are already mid-way

 Realizing that the final outcome isn’t what was expected

 Going over the discussed budget

 Falling behind the project deadline.


Effective project scope management gives a clear idea about the time,
labor, and cost involved in the project. It helps to distinguish between what
is needed and what isn’t needed for accomplishing the project. Scope in
project management also establishes the control factors of the project to
address elements that might change during the project life cycle.

PROJECT ORGANIZATION

Project organization is a process. It provides the arrangement for

decisions on how to realize a project. It decides the project’s
process: planning how its costs, deadlines, personnel, and tools
will be implemented.

Project Organizational Structures

There are a variety of project organizational structures.

 Functional is when the organizational departments are

grouped by areas of specialization. In this case, the project
is usually executed in a silo environment.
  Projectized is when the entire organization is organized by
the project.

Matrix has teams report to both a functional manager and
project manager, sort of a hybrid of the previous two
structures.
 Organic project organization embraces flexibility.

 Virtual is when the project manager is the hub in the network.

 Multi-division means that functional groups
are decentralized.
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