Unit 6: Managing a

Successful Business Project

INTRODUCTION TO PROJECT MANAGEMENT
 Learning outcomes
for the unit
•LO1 Establish project aims, objectives and timeframes based on the chosen theme.
•LO2 Conduct small-scale research, information gathering and data collection to generate.
•LO3 Present the project and communicate appropriate recommendations based on meaningful.
•LO4 Reflect on the value gained from conducting the project and its usefulness to support
sustainable organisational performance.
 Key Topics Covered
LO1 Establish project aims, objectives and timeframes based on the chosen theme:
1. What is project management and what does it involve?
2. The key stages of project management.
3. The advantages of using project management and why it is important.
 What is project
management?
Watch the video below:

https://www.youtube.com/watch?v=Jk-JwtScIlw
 What Is Project Management?
Project management involves planning and organization of a company's resources
to move a specific task, event, or duty towards completion. It can involve a one-
time project or an ongoing activity, and resources managed include personnel,
finances, technology, and intellectual property.

Project management is often associated with fields in engineering and

construction and, more lately, health care and information technology (IT), which
typically have a complex set of components that have to be completed and
assembled in a set fashion to create a functioning product.

No matter what the industry is, the project manager tends to have roughly the
same job: to help define the goals and objectives of the project and determine
when the various project components are to be completed and by whom. They
also create quality control checks to ensure completed components meet a
certain standard.
 1.Project management
On a very basic level, project management includes the planning, initiation, execution,
monitoring, and closing of a project.
Many different types of project management methodologies and techniques exist, including
traditional, waterfall, agile, and lean.
Project management is used across industries and is an important part of the success of
construction, engineering, and IT companies.
 Understanding Project Management
Generally speaking, the project management process includes the following stages: planning,
initiation, execution, monitoring, and closing.

Different industries have developed project management methodologies or frameworks that

are specific to their unique needs.
From start to finish, every project needs a plan that outlines how things will get off the
ground, how they will be built and how they will finish. For example, in architecture, the plan
starts with an idea, progresses to drawings and moves on to blueprint drafting, with
thousands of little pieces coming together between each step. The architect is just one person
providing one piece of the puzzle. The project manager puts it all together.

Every project usually has a budget and a time frame. Project management keeps everything
moving smoothly, on time, and on budget. That means when the planned time frame is
coming to an end, the project manager may keep all the team members working on the
project to finish on schedule.
 Types of Project Management

Different Project Management Methodologies

Project management methodologies all ultimately accomplish the same thing — a completed
project — but with very different approaches and journeys there. While there are numerous
project management types, there are seven primary ones that get used the most often.
1. Waterfall Project Management
Waterfall project management is easily one of the oldest methods, but still used by many
development teams. This style involves working in waves, with each step being heavily dependent
on the one before it.
While waterfall style is much slower than its counterparts, it can be useful for those looking to have
a lot of structure or predictability. Unfortunately, it can result in numerous hangups, especially if
bugs are detected during a later step in the process and previous steps must be revisited.
2. Agile Project Management
Agile is a faster and more versatile solution to the dated waterfall model. It involves working in smaller
chunks, or sprints, that allow projects to pivot when needed.
3. Scrum Project Management
Scrum is the epitome of agile. It's fast, very small in scope, and able to turn on a dime. Scrum is all about
using sprints to accomplish projects in small pieces, often based on a one-month timetable. Scrum is
great for smaller teams that are looking to iterate quickly.
4. Kanban Project Management
Kanban is all about organisation, looks primarily at the number of tasks that go into any process and how
they can be streamlined, reduced, and so on. This is an especially great model for those with a factory-
like output that doesn't vary.
5. Lean Project Management
Lean management is similar to Kanban in that it's all about process, but it has an even higher
emphasis on trimming the fat. Lean is all about focusing on a customer-first mindset and how
processes can be stripped away to deliver the best, most affordable, timely experience for
customers.
6. Six Sigma Project Management
The Six Sigma method focuses on improving the quality of a project's output. This is especially
helpful if you've undergone a lean management style and found the end result less than
satisfactory, as Six Sigma emphasises creating a better end result for the customer. This method
can be tacked onto other management styles, and is a great way to refine.
7. PRINCE2 Project Management
The PRINCE2 method is often used by private sectors in the government, and is focused on
efficiency and minimising risks and errors. This detail-focused method is all about chunking
projects up into product-based steps that can be tackled one at a time, ensuring no stone is
unturned anywhere in the process.
 2.The key stages of project
management
Projects divided into five stages:
Initiation : Preparation to start a project
Planning : Key decisions to set the pathways for the project
Execution: Carrying out the project works as per the plan
Monitoring & Control: Measures are placed to check the progress and adjustment required
Closure : Activities related to successful closure of the project.
1. Initiation
Before a project starts the project manager must make sure the project goals, objectives, scope,
risks, issues, budget, timescale and approach have been defined. This must be communicated to
all the stakeholders to get their agreement. Any differences of opinion must be resolved before
work starts.
This is perhaps the most important stage of any project as it sets the terms of reference within
which the project will be run. If this is not done well, the project will have a high probability of
failure. The initiation stage is where the business case is declared, scope of the project decided
and stakeholder expectations set. Time spent on planning, refining the business case and
communicating the expected benefits will help improve the probability of success. It is tempting to
start work quickly, but a poor initiation stage often leads to problems and even failure.
2.Planning
The key to a successful project is in the planning. Creating a project plan is the first task you should
do when undertaking any project. Often project planning is ignored in favour of getting on with the
work. However, many people fail to realise the value of a project plan in saving time, money and for
avoiding many other problems.
3. Execution
This is where the work to deliver the product, service or wanted result is carried out. Most of the
work related to the project is realised at this stage and needs complete attention from the project
manager.
4.Monitoring & Control
Once the project is running it is important the project manager keeps control. This is achieved by
regular reporting of issues, risks, progress and the constant checking of the business case to make
sure that the expected benefits will be delivered and are still valid.
5. Closure
Often neglected, it is important to make sure the project is closed properly. Many projects do not
have a clear end-point because there is no formal sign-off. It is important to get the customers’
agreement that the project has ended, and no more work will be carried out. Once closed, the
project manager should review the project and record the good and bad points, so that in the future,
successes can be repeated, and failures avoided. A project that is not closed will continue to
consume resources.
Video Link , key stages of project
management

Watch the video, take notes and be prepared to present in class:

https://www.youtube.com/watch?v=ZM7hNhl1WJ4
 Class activity
Please describe the activities involved in any one of the stages in a
selected project.
 DEVELOPING A PROJECT
PLAN
https://www.publicengagement.ac.uk/sites/default/files/Project%20Planning.pdf
3.The advantages of using project
management
1. Better Efficiency in Delivering Services: Project management provides a “roadmap" that is
easily followed and leads to project completion. Once you know where to avoid the bumps and
potholes, it stands to reason that you’re going to be working smarter and not harder and longer.
2. Improved / Increased / Enhanced Customer Satisfaction: Whenever you get a project done
on time and under budget, the client walks away happy. And a happy client is one you’ll see
again. Smart project management provides the tools that enable this client/manager
relationship to continue.
3. enhanced Effectiveness in Delivering Services: The same strategies that allowed you to
successfully complete one project will serve you many times over.
4. Improved Growth and Development Within your Team: Positive results not only command
respect but more often than not inspire your team to continue to look for ways to perform more
efficiently.
5. Greater Standing and Competitive Edge: This is not only a good benefit of project management
within the workplace but outside of it as well; word travels fast and there is nothing like superior
performance to secure your place in the marketplace.
6. Opportunities to Expand your Services: A by-product of greater standing. Great performance
leads to more opportunities to succeed.
7. Better Flexibility: Perhaps one of the greatest benefits of project management is that it allows for
flexibility. Sure project management allows you to map out the strategy you want to take see your
project completed. But the beauty of such organization is that if you discover a smarter direction to
take, you can take it. For many small-to-midsize companies, this alone is worth the price of
admission.
8. Increased Risk Assessment: When all the players are lined up and your strategy is in place
potential risks will jump out and slap you in the face. And that’s the way it should be. Project
management provides a red flag at the right time: before you start working on project completion.
 Value of project management
https://www.pmi.org/-/media/pmi/documents/public/pdf/white-papers/value-of-project-mana
gement.pdf
 Importance of project
management
According to the Project Management Institute (PMI), Project management knowledge draws on ten areas:
1. Integration
2. Scope
3. Time
4. Cost
5. Quality
6. Procurement
7. Human resources
8. Communications
9. Risk management
10. Stakeholder management
 Importance of project
management
Clear focus and objectives
Realistic project planning
Maximum resource utilization
Risk management
Quality control
Understanding various objectives and project deliverables
Satisfying needs of the project’s stakeholders
Effective use of project resources
Greater likelihood of achieving the desired result
 Recap project management
Project Management Fundamentals:

https://www.youtube.com/watch?v=qTQsdJFG4SQ

Can you remember all the key project management terms in the
video?
 References
anonymous. (n.d.). The Stages of a Project. Available:
http://www.projectsmart.com/project-management/the-stages-of-a-project.php. Last accessed 01-02-2020 .
anonymous. (). introduction of project management. Available: https://slideplayer.com/slide/9720765/. Last
accessed 01-02-2020
anonymous. (). What is a Project Management Framework? - Definition & Examples. Available:
https://study.com/academy/lesson/what-is-a-project-management-framework-definition-examples.html. Last
accessed 01-02-2020.
 Gary Picariello . (). The Top 10 Benefits of Project Management. Available: The Top 10 Benefits of Project
Management. Last accessed 01-02-2020.
 Meredith Wood. (7 Jul 2019). 7 Project Management Types and When to Use Them. Available:
https://www.projectsmart.co.uk/7-project-management-types-and-when-to-use-them.php. Last accessed 01-
02-2020
Nisha Gashmeer . (). Project Scope Management. Available:
https://medium.com/@nishagashmeer/project-scope-management-111b334a53a4. Last accessed 01-02-2020 .
Sandeep Kayshap. (November 21, 2018). Why is Project Management Important: Benefits, Importance, and
Tools. Available: https://www.proofhub.com/articles/why-is-project-management-important. Last accessed 01-
02-2020.