PROJECT MANAGEMENT
Roll No. Name
Shalin Solanki 37
Srashti Srivastava 38
Poonam Sugand 39
Karan Surve 40
Chintan Thaker 41
Devanshi Thakkar 42
Project
A temporary endeavor
undertaken to produce
a unique product or
service
A planned
undertaking of related
activities to reach an
objective that has a
beginning and an end.
Characteristics of a project
Unique i.e. new undertaking and unfamiliar ground.
Temporary-includes definitive beginning and end.
Creates something new or improves/fixes something that
already exists.
Proposes and supports change-temporary.
Performed by people and teams.
Constrained by resources.
Planned, Executed, Controlled.
Examples
– constructing houses, factories, shopping malls, athletic
stadiums or arenas
– developing military weapons systems, aircrafts, new ships
– launching satellite systems
– constructing oil pipelines
– developing and implementing new computer systems
– planning concert, football games, or basketball tournaments
– introducing new products into market
Project Management:
• The application of knowledge, skills, tools, and techniques
to project objectives to meet stakeholder needs and
expectations.
• The purpose of project management is prediction and
prevention, NOT recognition and reaction.
Project management triangle
• Increased Scope = increased time + increased cost
• Tight Time = increased costs + reduced scope
• Tight Budget = increased time + reduced scope.
Phases of a Project Management
Initiation Phase
Authorize a Project
Identify project objectives
Define the initial scope of the project
Obtain organizational commitment
Assign Project manager
Identify project stakeholders
Planning Phase
Elaborate and clarify project scope
Develop realistic schedule
Develop realistic budget
Identify project and product quality processes
Plan the human resource aspect
Determine the communication needs
Establish risk management processes
Identify the procurement needs of the project
Combine all information into project management plan
“Planning without action is futile, action without
planning is fatal”
Execution Phase
Create the deliverables
Manage project quality
Manage project team
Report progress
Manage changes
Manage stakeholders
Bid and award contracts
Monitoring and controlling
Review and analyze project performance
Recommend corrective and preventive actions
Process change requests
Report project performance
Respond to risk events
Manage contractors
Closing Phase
Obtain formal acceptance of the product
Hand off of products, results
Close all project phases
Close out procurements
Document lessons learned
Archive project documents
Role of a Project Manager
Environment General
Scanning Management
Skills
Project
Management
Body of
Knowledge
Domain
Communication
Knowledge
Skills
“The most successful project managers have perfected
the skill of being comfortable being uncomfortable”
Key areas Project Management
Integration
IntegrationManagement
Management Scope
ScopeManagement
Management Time
Time Management
Management
Human
HumanResources
Resources
Cost
Cost Management
Management Quality
QualityManagement
Management Management
Management
Communications
Communications Procurement
Procurement
Management
Management Risk
Risk Management
Management Management
Management
Integration management
Project integration management is concerned with
ensuring that the elements making up a project are
properly coordinated so that project goals are achieved.
Scope management
Project scope management includes the processes required to ensure that, the project includes all the work required, and
only the work required, to complete the project successfully
Time management
Time management
refers to a range of
skills, tools, and
techniques used to
manage time when
accomplishing specific
tasks, projects and
goals.
Cost Management
This process is required to ensure the project is completed within the
approved budget and includes:
Resources
- people
-equipment
-materials
Quantities
Budget
Quality Management
A product is identified by its Quality. Quality
management ensures the quality of product
demanded
Communication Management
This process is necessary to ensure timely and
appropriate generation, collection, dissemination,
and storage of project information
Human Resource Management
Human resource
management (HRM) is the
strategic and coherent approach
to the management of an
organization's most valued
assets - the people working
there who individually and
collectively contribute to the
achievement of the objectives
of the business.
“Too few people on a project cant solve the problems-
too many create more problems than they solve.”
Risk Management
• Risk identification and mitigation strategy
• Risk update and tracking
Procurement Management
Procurement is the sourcing and purchasing of goods
and services for business use.
Change Control Management
• Define how changes to the project scope will be
executed
• Types
- Scope changes
- Schedule changes
- Technical specification changes
- Training changes
Network analytical tools
Project review and evaluation
technique(PERT)
Gantt Charts
Work breakdown structure(WBS)
Critical Path Method
Work Breakdown Structure
WBS is deliverable-oriented
hierarchal decomposition of the
work to be executed by project
team to accomplish project
objectives and create the required
deliverables
WBS organises and defines the
total scope of the project
It represents the work specified in
the current approved project scope
statement
Should represent all the product
and project work including project
management work
WBS
Critical Path Method
Critical Path: The longest continuous path of activities
through a project, which determines the project end date
Critical Path Method (CPM), is a procedure for
using network analysis to identify those tasks which
are on the critical path: ie where any delay in the
completion of these tasks will lengthen the project
timescale, unless action is taken.
Why CPM?
Identifies tasks which must be completed on time for the
whole project to be completed on time
Identifies which tasks can be delayed for a while if resource
needs to be reallocated to catch up on missed tasks
Identifies the minimum length of time needed to complete a
project
Determines both the early start and the late start date for
each activity in the schedule.
How to use CPM ?
Project Network Diagram
Any schematic display of the logical relationships of
project activities.
Building a Precedence Diagram
Calculating the forward pass
Calculating the backward pass
Calculating the float/critical path
Activity on Node: A completion of an activity is represented by a node.
Lay foundations Build house
2 4 Finish work
2 3
7
Start 1 1
3
Design house 6
3
and obtain 1 5 1
financing Order and receive 1 Select carpet
Select paint
materials
Activity on Arrow
- An arrow represents a task, while a node is the completion of a task
- Arrows represent order of events
3
Lay Dummy
foundation 2 0 Build Finish
3 1 house work
1 2 4 6 7
Design house Order and 3 1
and obtain receive Select 1 1 Select
financing materials paint carpet
5
FLOAT
Float or slack is the amount of time that a task in a project network can be
delayed without causing a delay to:
subsequent tasks (free float)
project completion date (total float)
Types of float:
1. Free float
2. Total float
3. Independent float
Calculation of Float
Project Evaluation And Review Technique(PERT)
• PERT is based on the assumption that an activity’s duration
follows a probability distribution instead of being a single value
• Three time estimates are required to compute the parameters of
an activity’s duration distribution:
– pessimistic time (tp ) - the time the activity would take if
things did not go well
– most likely time (tm ) - the consensus best estimate of the
activity’s duration
– optimistic time (to ) - the time the activity would take if
things did go well
Mean (expected time): te = tp + 4 tm + to
6
Variance: Vt =2 =
tp - to
6
Project Cost
Project Crashing
Crashing
reducing project time by expending additional
resources
Crash time
an amount of time an activity is reduced
Crash cost
cost of reducing activity time
Goal
reduce project duration at minimum cost
Activity Crashing
Time-cost relationship
Crashing costs increase as project duration decreases
Indirect costs increase as project duration increases
Reduce project length as long as crashing costs are less
than indirect costs
Time-Cost Tradeoff
Benefits of CPM/PERT Limitations to CPM/PERT
Graphic displays of activities • important activities may be omitted
Mathematically simple •Activity time activity are based on
Useful in monitoring cost judgment
Identifies critical activities and • over emphasis on critical path
slack activities
Provide project documentation
Useful at various stages of
Project Management
GANTT CHARTS
A Gantt chart is a type of bar chart that illustrates a
project schedule.
A Gantt chart is a graphical representation of the duration
of tasks against the progression of time.
Gantt Charts
Advantages Limitations
- They provide an easy graphical - Do not clearly indicate details regarding
representation of when activities (might) the progress of activities
take place.
- Do not give a clear indication of
interrelation ship between the separate
activities
Limitations of Project Management
PM works when there is buy-in for the methods and
process
It does not work when
buy-in is lacking or there is not support for the methods
by executives
‘end arounds’ are tolerated
influential players operate project business outside the
project
decisions made by project teams are not supported
charters, schedules and other work products of the team
are not supported
QUESTIONS
