sCh17ProjectManagement

Project Management Overview

• Project Definition: Unique, one-time operations with specific objectives and limited time frames.

  • Examples: Product development, special events, new construction.

Project Management Institute (PMI) Knowledge Areas

• 10 Knowledge Areas:

  • Integration Management

  • Scope Management

  • Cost Management

  • Time Management

  • Quality Management

  • Human Resources Management

  • Procurement Management

  • Risk Management

  • Communication Management

  • Stakeholder Management

Triple Constraint of Project Management

• Key Metrics:

  • Scope: Achieving performance objectives;

  • Quality;

  • Time;

  • Cost.

• Effective project management ensures the balance among these constraints.

Project Success Criteria

• Defines project success in several ways:

  • Meeting scope, time, and cost goals;

  • Achieving the primary objective of the project;

  • Satisfying customer/sponsor requirements.

Project Life Cycle Phases

1. Initiation: Define goals, specifications, feasibility.

2. Planning: Schedules, budgets, task assignments.

3. Execution & Controlling: Monitor progress, handle changes, manage resources.

4. Delivery: Train customers, transfer documents, release resources, reassign staff, learn lessons.

Role of Project Manager

• Responsibilities: Works with teams and stakeholders to achieve project goals.

  • Ultimately accountable for project success or failure.

• Skills Required:

  • People skills, leadership, ethical behavior, communication, conflict resolution, critical thinking, and prioritization.

Key Project Management Tools

• Work Breakdown Structure (WBS): A hierarchical structure detailing project activities.

• Network Diagram: Visual representation showing sequential activities and their relationships.

• Gantt Charts: Timeline showing project progress against a schedule.

Work Breakdown Structure (WBS)

• Function: Organizes project tasks into manageable segments.

  1. Identify major project elements.

  2. Identify supporting activities for each element.

  3. Break down supporting activities into tasks.

Network Diagrams

• Types:

  • Activity on Node (AON): Nodes represent activities.

  • Activity on Arrow (AOA): Arrows represent activities.

• Purpose: Illustrates sequence and relationships among activities.

Critical Path Method (CPM)

• Functions: Provides a schedule for completing the project in the minimum time.

  • Identifies critical and non-critical activities.

  • Determines the project's shortest duration.

  • Critical Activities: Must be completed on time to avoid project delays.

  • Slack: Indicates allowable delays for non-critical activities.

Managing Project Time and Costs through Crashing

• Crashing: Shortening activity durations by adding resources, which often increases direct costs.

• Considerations:

  1. Identify critical path activities for crashing opportunities.

  2. Evaluate regular vs. crash times and costs.

Using Project Management Software

• Advantages:

  • Imposes methodologies, enhances communication, tracks performance, generates reports, and simulates scenarios.

Conclusion on Project Management

• Projects contain risks and uncertainties:

  • Effective management through careful planning, monitoring, and lessons learned is crucial to mitigate possible delays, budget overruns, and failures.