1

WHAT IS A PROJECT?

Key Concepts:

Definition of a Project

Characteristics of a Project

2

What Is a Project?

• A project is “a temporary endeavor undertaken to create a unique product, service, or result.”*

• Operations is work done to sustain the business.

• A project ends when its objectives have been reached, or the project has been terminated.

• Projects can be large or small and take a short or long time to complete.*PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (2004), p. 5.

3

PMI Definition

“A temporary endeavor undertaken to create a unique product or service”

Source: A Guide to the Project Management Body of Knowledge, Project Management Institute Standards Committee, p. 167, 1996

4

What is Project Management?

“Project management is the application of knowledge, skills, tools and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project.” *

*Project Management Institute, PMBOK 2000

5

What is Project Management?

• Application of Knowledge/Skills/ and Tools/Techniques to Project Activities

• Meet/Exceed Expectations

6

Project Attributes?

• Temporary, with unique purpose

• Goal-directed

• Collaborative

• Resources constrained

• Endeavor

• Uncertainty

7

Project Management Tools and Techniques

• Project management tools and techniques assist project managers and their teams in various aspects of project management.

• Specific tools and techniques include:– Project charters, scope statements, and WBS

(scope).– Gantt charts, network diagrams, critical path

analyses, critical chain scheduling (time).– Cost estimates and earned value management

(cost).

8

PM Development Goals

• According to specification (Scope)

• Schedule (Time)

• Within Budget (Cost)

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Why the emphasis on project management?

• Many tasks do not fit neatly into business-as-usual.

• Need to assign responsibility and authority for achievement of organisational goals.

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Characteristics of Projects

• Unique

• Specific Deliverable

• Specific Due Date

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Other Common Characteristics of Projects

• Multidisciplinary

• Complex

• Conflict

• Part of Programs

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PROJECT MANAGEMENT VS. GENERAL MANAGEMENT

Projects• Unique• Finite• Revolutionary

charge• Unbalanced

objectives• Transient resources

Operations• Repetitive on going • Evolutionary change• Equilibrium• Balanced objectives• Stable resources

 

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 Examples of a Project

A project can be of any type;

Opening a restaurantConstructing a buildingLaunching a new product

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Skill Requirements for Effective Project Management

• Conflict Resolution

• Creativity and Flexibility

• Ability to Adjust to Change

• Good Planning

• Negotiation– win-win versus win-lose

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WHAT IS MANAGED? THE THREE GOALS

OF A PROJECT

Performance

Cost

Time

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Performance, Cost, and Time Project Targets

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The Triple Constraint of Project Management

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How do these work?

• You are thinking about planning a holiday abroad as a project.

How would you define:• Performance• Cost • Time?

19

THE LIFE CYCLES OF PROJECTS

Start

Activity

Finish

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Project Life Cycle

• Initiating Processes

• Planning Processes

• Executing/Implementation Processes

• Controlling Processes

• Closing Processes

• S-Shape Curve

• J-Shape Curve

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The Project Life Cycle

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An Alternate Project Life Cycle

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Project Management Framework