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Fundamentals_of_Project_Management_Notes

About a course project management

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8 views3 pages

Fundamentals_of_Project_Management_Notes

About a course project management

Uploaded by

jusstchiomzy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Fundamentals of Project Management

– Detailed Notes
1. Introduction to Project Management
Project management is the application of knowledge, skills, tools, and techniques to project
activities to meet project requirements. It is a temporary endeavor undertaken to create a
unique product, service, or result.

Key concepts:
- Project vs. Operations
- Project Constraints: Scope, Time, Cost, Quality, Resources, Risk
- Triple Constraint (Iron Triangle): Scope, Time, Cost
- Role of the Project Manager: Leadership, Communication, Planning, Execution, Conflict
Management

2. Project Life Cycle and Phases


A project goes through several phases during its life cycle. These are:

1. Initiation: Define the project at a broad level, develop the business case, identify
stakeholders.
2. Planning: Establish the scope, define objectives, and develop plans to achieve the project's
goals.
3. Execution: Implement the project plan, manage teams, and allocate resources.
4. Monitoring and Controlling: Track performance, manage changes, and ensure the project
stays on track.
5. Closing: Finalize all project activities, deliver the project, release resources, and document
lessons learned.

3. Scope Management
Project scope management includes the processes required to ensure that the project
includes all the work required and only the work required.

Key components:
- Collect Requirements
- Define Scope
- Create Work Breakdown Structure (WBS)
- Validate Scope
- Control Scope
4. Time Management
Time management involves the processes required to manage the timely completion of the
project.

Steps include:
- Define Activities
- Sequence Activities
- Estimate Activity Durations
- Develop Schedule (Gantt charts, CPM)
- Control Schedule

5. Cost Management
Cost management includes planning, estimating, budgeting, and controlling costs so that the
project can be completed within the approved budget.

Key processes:
- Estimate Costs
- Determine Budget
- Control Costs
- Tools: Cost Baseline, Earned Value Management (EVM)

6. Quality Management
Quality management ensures that the project will satisfy the requirements for which it was
undertaken.

Processes include:
- Plan Quality Management
- Perform Quality Assurance
- Control Quality
- Tools: Checklists, Fishbone Diagrams, Control Charts

7. Risk Management
Risk management involves identifying, assessing, and controlling risks throughout the
project lifecycle.

Steps include:
- Identify Risks
- Perform Qualitative and Quantitative Risk Analysis
- Plan Risk Responses
- Monitor and Control Risks
8. Communication and Stakeholder Management
Effective communication and stakeholder management are vital for project success.

Communication Management:
- Identify communication needs
- Determine communication methods (e.g., reports, meetings)
- Manage and control communications

Stakeholder Management:
- Identify Stakeholders
- Plan Stakeholder Engagement
- Manage Stakeholder Expectations

9. Project Management Tools and Techniques


Various tools help in planning, executing, and controlling projects.

Popular tools:
- Microsoft Project: Scheduling and tracking
- Excel: Budgeting, tracking tasks
- Trello/Asana: Task management and collaboration

Techniques:
- Gantt Charts
- Critical Path Method (CPM)
- Work Breakdown Structure (WBS)

10. Overview of Project Management Methodologies


Traditional and modern methodologies include:

- Waterfall: Linear and sequential phases


- Agile: Iterative and incremental (used in software development)
- Scrum: A subset of Agile with roles like Scrum Master, Product Owner, and Sprint cycles

Choosing the right methodology depends on project scope, industry, and complexity.

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