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Project management
Project is an undertaking or venture to accomplish some objectives or goals.it can be
defined as a “non-repetitive activity”.
Basically, project is a specific, finite task to be accomplished.
According to Project Management Institute, 2000 “project is a temporary endeavor
undertaken to create a unique product or service”
However, A Project is one kind of planning that is a complex, non-routine, one-time effort
limited by given time, budget, resources and its Performance Specifications are designed to
meet customer’s needs.”
Such as; the construction of dams, ships, refineries etc. are the projects. All of mankind’s
greatest accomplishments—from building the great pyramids to discovering a cure for
polio and putting a man on the moon was a project.
The major characteristics of a project are as follows:
1. A defined objective and Performance requirement: A project is usually a one-time
activity with a well-defined set of desired end results.
2. A defined life span/cycle with a beginning and an end.
3. Uniqueness; a project is different from another project means every project creates a
unique product, service, or result. Typically, doing something that has never been
done before.
4. Interdependency and non-routine activities.
5. Limited resources, Specific time, cost, and performance requirements.
6. Conflict (disagreement between clients and project team)
Since there is a specified objective, projects have a defined endpoint, contrary to the
ongoing duties and responsibilities, individuals move from one project to the next one like;
after install a security system, an IT engineer may be assigned to develop a database for a
different client.
Projects typically require the combined efforts to complete the objectives. Instead of
working separately, project participants like: engineers, financial analysts, marketing
professionals, or quality control specialists, work closely together under the guidance of a
project manager to complete a project.
Project is no routine and has some unique elements such as building a hybrid (electric/gas)
automobile requires solving previously unsolved problems and breakthrough technology.
On the other hand, even basic construction projects involving established sets of routines
and procedures require some degree of customization that makes them unique.
Since Project has limited resources, Specific time, cost to make the project successful ,need
Human resource, Physical resource, Information resource, financial resource etc. as well as
some logistic support such as; Storage, warehousing and materials handling, Transport,
Information and control etc.
What is Project Management?
Project Management is the discipline of organizing and managing resources in such a way
that these resources deliver all the work required to complete a project within defined
scope, time, and cost constraints.
Project Management is the skills, tools and management processes required to undertake a
project successfully.
Project management provides an organization with powerful tools that improve its ability
to plan, implement, and control its activities as well as the ways in which it utilizes its
people and resources.
Objectives of Project Management
The three prime objectives of project management are:
1. To meet specified performance
2. To do it within specified costs
3. Complete on schedule (Time)
Means Ensure projects are delivered with budget. Ensure projects are delivered with
schedule. Deliver quality solutions: reduced errors, improved effectiveness, appropriate risk
management and internal control • Continuous process improvement via collaboration
•Implement project communication and oversight.
This is also known as triangle constraints of a project.
Specific time, cost, and performance requirements bind projects. Projects are evaluated
according to accomplishment, cost, and time spent. These three also highlight one of the
primary functions of project management, which is balancing the trade-offs between time,
cost, and performance while ultimately satisfying the customer.
Types of projects:
I. Type 1 project: these type projects are industrial project such as; Civil Engineering,
construction, petrochemical, mining and quarrying. The actual work of the project
conducted on a site that is usually remote from the contractor’s head office. Such projects
are often open to the public look.
These projects incur special risks and problems of organization .they may require massive
capital investment, and rigorous management of progress, finance and quality. Operations
are often hazardous so need the health and safety requirements.
II. Type 2 project: these projects are specially manufacturing based. Manufacturing
projects result in the production of a piece of mechanical or electronic equipment, a
machine, ship, aircraft, land vehicle, or some other product or item of specially designed
hardware.
The finished products are sold to a single customer as well as need internal research and
development projects for products to be sold in all market are fall into this manufacturing
category.
Manufacturing projects are usually conducted in a laboratory, factory or other home-based
environment, where the company should easily be able to exercise on-the-spot management
and provide an optimum environment in which to do and manage the work.
III. Type three project: these type of projects refer to companies, whatever its size, can
expect to need project management expertise at least once in its lifetime such as IT projects
and project associated with management change. After install a security system, an IT
engineer may be assigned to develop a database for a different client.
These type projects arise when companies relocate their headquarters, develop and
introduce a new computer system, launch a marketing campaign, prepare for a trade
exhibition, restructure the organization, mount a stage show etc.
IV. Type for project: these types of projects are the pure scientific research. They
occasionally result in profitable discoveries. On the other hand, they can consume vast
amounts of money over many years, but many cases do not yield any economic result.
Research projects carry the highest risk because they attempt to extend the boundaries of
current human knowledge. • The project objectives are usually difficult or impossible to
define and even there could not be the possible outcome. • Therefore, pure research projects
are not usually amenable to the project management methods that can be applied to
industrial, manufacturing or management projects.
Project life cycle: The Project Life Cycle refers to a series of activities which are necessary
to fulfill the project goals or objectives. Projects may vary in size and complexity, but, no
matter how large or small, all projects must go through the following stages;
1. Defining stage
2. Planning stage
3. Executing stage
4. Delivering stage
1. Defining stage: Specifications of the project are defined; project objectives are
established; teams are formed; major responsibilities are assigned.
2. Planning stage: The level of effort increases, and plans are developed to determine
what the project will entail, when it will be scheduled, whom it will benefit, what
quality level should be maintained, and what the budget will be.
3. Executing stage: A major portion of the project work takes place—both physical and
mental. The physical product is produced (a bridge, a report, a software program).
Time, cost, and specification measures are used for control. Is the project on schedule,
on budget, and meeting specifications? What are the forecasts of each of these
measures? What revisions/changes are necessary?
4. Closing includes three activities: delivering the project product to the customer,
redeploying project resources, and post-project review. Delivery of the project might
include customer training and transferring documents. Redeployment usually
involves releasing project equipment/materials to other projects and finding new
assignments for team members. Post-project reviews include not only assessing
performance but also capturing lessons learned.
Why Projects are initiated?
Projects are initiated in the following scenarios:
