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Project management full notes.

Project management involves leading a team to achieve project goals within constraints such as scope, time, and budget. It encompasses stages like initiating, planning, executing, monitoring, and closing, with a focus on resource allocation, budgeting, and risk management. Effective project management also includes conflict resolution and performance monitoring to ensure successful project outcomes.
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0% found this document useful (0 votes)
36 views52 pages

Project management full notes.

Project management involves leading a team to achieve project goals within constraints such as scope, time, and budget. It encompasses stages like initiating, planning, executing, monitoring, and closing, with a focus on resource allocation, budgeting, and risk management. Effective project management also includes conflict resolution and performance monitoring to ensure successful project outcomes.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Project management

Unit-1
Meaning of project management
Project management is the process of leading the work of a team to achieve all project goals within
the given constraints. This information is usually described in project documentation, created at the
beginning of the development process. The primary constraints are scope, time, and budget.

What are project management goals?


Project management goals are project objectives that involve developing plans,
implementing strategies, executing the project to completion and accomplishing
business plans. These goals may rely on a project's outcome, employee performance or
completion of a larger company goal.

Project managers often create these goals by determining what they want to achieve.
It's useful to reference the company's mission statement to inform these goals. By doing
this, project managers can accomplish larger initiatives, such as implementing a new
process.
What are the 5 stages of the project life cycle?
By working through each of these phases in turn, project managers can successfully
progress their project from start to finish.
...
The five stages of the project life cycle are:
 Initiating.
 Planning.
 Executing.
 Monitoring/controlling.
 Closing.
Definition of a Project Manager
A project manager is responsible for the execution of a project from start to
finish. Whereby the objectives have already been rendered, monitoring
processes, administering all logistical tasks and successfully finishing a
project are responsibilities a project manager must commit to.
Unit 2
Planning –budgeting- risk management
The planning phase is when the project plans are documented, the project
deliverables and requirements are defined, and the project schedule is
created. It involves creating a set of plans to help guide your team through the
implementation and closure phases of the project.
What is a work breakdown structure in project management?

A Work Breakdown Structure (WBS) is a hierarchical outline of the tasks required to


complete a project. The WBS “breaks down” the structure of a project into manageable
deliverables. Each deliverable is assigned a task, or series of tasks that can be further broken
down into subtasks to meet the needs of the project.
What is project management budgeting?
Project management budgeting is the action of determining the total funds that are allocated
for a specific project. The budget is usually estimated by the project manager along with the
project management team and consists of all the projected costs for the upcoming project.

Project management summarizies


project management is the application of knowledge, skills, tools, and techniques applied to
project activities in order to meet the project requirements. Project management is a process
that includes planning, putting the project plan into action, and measuring progress and
performance.
What is a schedules in project management?

Scheduling in project management is the listing of activities, deliverables, and


milestones within a project. A schedule also usually includes a planned start and
finish date, duration, and resources assigned to each activity.
1. Steps to Developing a Project Schedule.
2. Step 1: Create a Work Breakdown Structure (WBS)
3. Step 2: Estimate Task Duration.
4. Step 3: Determine the Resources Requirements.
5. Step 4: Identify the Dependencies Between Tasks.

What Is Forecasting in Project


Management?
Forecasting in project management is the process of making predictions, guesses, or
assumptions of the possible outcomes of a project. These project forecasts are made
through the analysis of historical project data as well as predicted future
performances.

The main aim of forecasting is to predict possible outcomes, reduce project risk, and
increase the chances of project success. This means that you can learn how likely it is
that a project will be successful, evaluate the risks involved, and identify areas for
improvement. As a result, project managers are armed with sufficient knowledge to
anticipate project duration, cost overruns, project budgeting and forecasting,
and resource needs.
How do you manage risk in project management?
The risk management process includes five steps: identify, analyze, evaluate, treat, and
monitor.
...
This process can be used for both positive and negative risks.
1. Identify risks. ...
2. Analyze potential risk impact. ...
3. Assign priority to risks. ...
4. Mitigate risks. ...
5. Monitor risks.
IDENTIFICATION IN PROJECT MANAGEMENT
How do you manage risk in project management?
How to manage project risk
1. Identify risks. The first step to getting a grasp on potential risks is to know what they are. ...
2. Analyze potential risk impact. ...
3. Assign priority to risks. ...
4. Mitigate risks. ...
5. Monitor risks.
What is the major concept of project?

A project is a temporary effort to create a unique product, service or result. A project has a
definite start and end. A project management plan is created by a project manager. This plan
requires a buy-in from all stakeholders.

project management identification

The purpose of project identification is to develop a preliminary proposal for the most appropriate set of
interventions and course of action, within specific time and budget frames, to address a specific
development goal in a particular region or setting.
Project management assessment
A Project Management Skills Gap Assessment is a tool that can provide insight on how and where an
individual or organization can improve their project management knowledge and skills. The PM
SGAs establish a measurable baseline prior to the implementation of improvement initiatives.
PROJECT MANAGEMENT RESPONSE PLANNING
UNIT-III
SECHEDULING &RESOURCE ALLOCATION
Scheduling in project management is the listing of activities, deliverables, and milestones
within a project. A schedule also usually includes a planned start and finish date, duration, and
resources assigned to each activity.

What is scheduling and resource allocation?


Resource allocation, also known as resource scheduling, recognizes and assigns
resources for a specific period to various activities. These activities can be either
project or non-project work such as BAU, admin, support, operation, etc. Assigning
100% of their capacity ensures maximum utilization of resources
PERT
Program Evaluation Review Technique (PERT) is a project management planning
tool used to calculate the amount of time it will take to realistically finish a project. PERT charts
are used to plan tasks within a project — making it easier to schedule and coordinate team
members.
What do CPM mean?

cost per mille


CPM (cost per mille) is a paid advertising option where companies pay a price for every 1,000
impressions an ad receives. An “impression” refers to when someone sees a campaign on social
media, the search engines or another marketing platform.
HOW TO CALCULATE PROJECT DURATION?
HOW TO CALCULATE PROJECT FLOAT?
How do you measure resource allocation?
How to Measure Resource Utilization
1. Define Billable and Non-Billable Hours. ...
2. Determine the Available Hours of Each Team Member. ...
3. Use Timesheets to Measure Resource Utilization. ...
4. Use the Resource Utilization Formula. ...
5. Determine Employee's Productivity.
How do you solve resource allocation problems in project management?
Project management goal: Resolve resource allocation problems
1. Step 1: Resolve resource overallocations. ...
2. Step 2: Resolve resource overallocations by leveling. ...
3. Step 3: Resolve resource underallocations. ...
4. Step 4: valuate the results of resource adjustments. ...
5. Step 5: Compare two versions of a project and report differences.
UNIT IV

PROJECT ORGANISATION & CONFLICT MANAGEMENT

What is a project organization?

The term project organization refers to the style of coordination, communication, and
management the project team uses throughout a project lifecycle. By applying project
organization, you optimize resources, provide clear communication about roles and
responsibilities, and reduce potential roadblocks.
What is the of conflict management?
Conflict Management is the use of processes, tools, and skills to find creative and
respectful ways to manage disagreements and disputes. It includes the ability to
resolve conflict collaboratively through effective communication skills, such as active
listening and assertive speaking.

What are the 4 steps to manage conflict?

4 steps To resolve Conflict:


1. Communicate. Open communication is key in a dispute. ...
2. Actively Listen. Listen to what the other person has to say, without interrupting. ...
3. Review Options. Talk over the options, looking for solutions that benefit everyone. ...
4. End with a Win-Win Solution

What are the 3 C's for resolving a conflict?

Balancing the 3 C's: Communication, Conflict Resolution and Commitment.

What are the 6 steps of resolving conflict?


Let's take a look at the Six-Step Method for Resolving Conflict.
 Define the problem. ...
 Come together and communicate. ...
 Establish relationships. ...
 Develop an action plan. ...
 Gain commitment. ...
 Provide feedback.
What is consequence in project management?
It defines consequences as: '…the outcome of an event affecting objectives, which can
be certain or uncertain, can have positive or negative direct or indirect effects on
objectives, can be expressed qualitatively or quantitatively, and can escalate through
cascading and cumulative effects.

What are the consequences of project failure?


It can affect team morale, aversion to change, and even a complete lack of
responsibility. Needless to say, it has a direct impact on customer/stakeholder
satisfaction. A failed project is but a broken promise and can add to organizational woes
in the long run.

What are consequences of risk in a project?


There are four possible consequences for any risk event: cost, schedule functionality,
and quality. Each needs to be considered when deciding the risk impact value.
However, it's also important to prioritize these impacts based on what's most important
for the project.

What is a project team?

The project team is the group of people responsible for executing the tasks and producing
deliverables outlined in the project plan and schedule, as directed by the project manager, at
whatever level of effort or participation defined for them.

4 Types of Project Teams


 Cross-Functional Teams. ...
 Matrix Teams. ...
 Contract Teams. ...
 Virtual Teams. ...
 Functional/Cross Department Teams. ...
 Self-Managed Teams. ...
 Leadership Teams. ...
 Informal Teams.
MANAGING CONFLICT
UNIT –V
Project Controls is a process that encompasses the resources, procedures, and tools for
the planning, monitoring, and controlling of all phases of the capital project lifecycle.
This includes estimating, cost and schedule management, risk management, change
management, earned value progressing, and forecasting.

What are the 4 steps in the control process?


The following are the steps involved in the control process:
1. Establishing standards and methods or ways to measure performance.
2. Measuring actual performance.
3. Determining if the performance matches with the standard.
4. Taking corrective action and re-evaluating the standard.
what Is Project Monitoring and Control?
Project monitoring and control helps you measure project performance. Use the process to
look at the project plan, review project status, identify potential problems, and implement
changes when necessary. This phase coincides with the execution phase of the project
lifecycle.
What are performance monitoring indicators?

Performance indicators are measures of project impacts, outcomes, outputs, and inputs
that are monitored during project implementation to assess progress toward project
objectives. They are also used later to evaluate a project's success.

How is performance index measured?


Performance index is a calculation of how well work is meeting its defined goal. For
work with response time goals, the performance index is the actual divided by
goal. For work with velocity goals, the performance index is goal divided by actual.

How do you calculate project performance index?


To calculate your project's SPI performance, the formula is:
1. Schedule Performance Index (SPI) = Earned Value (EV) / Planned Value (PV)
2. SPI = EV / PV.
Project evaluation
What is a project reporting?
A project report is a document providing detail on the project's overall status or
specific aspects of its performance. Irrespective of the report type, it contains project
data based on economic, financial, technical, managerial or production aspects.
TERMINATION PROCESS
Project success and failure
INTRODUCTION

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