05 May

PROJECT MANAGEMENT

Posted in: Knowledge Session

What is a Project?
A project is a temporary organisation that is created for the purpose of delivering one or more business products according to an agreed business case.

Characteristics of a project
Temporary – A project should have a start date and an end date
Unique – Every project is unique
Uncertainly – Risk introduces threats and opportunities
Change – Projects are the means by which we introduce change
Cross Functional – Every project involves a team of people

Types of project
- Compulsory Project
- Not-for-profit Project
- Evolving Project
- Customer/supplier Project
- Multi-organization project

The Three (3) Project Interests
Business: The owner of the business/project
Supplier: The Person to deliver the project
User: The person who will benefit from the project

Why Projects Fail
- Lack of attention to quality
- Insufficient definition of required outcomes
- Lack of communication between stake holders
- Not taking responsibility
- Poor estimation of duration and cost
- Poor planning and coordination of resources
- Poor control of the project process

What is Project Management?
Project management is the planning, delegating, monitoring and control of all aspects of the project and the motivation of those involved, to achieve the project objectives within the performance targets.

NOTE: A project manager must always know that when the RISK outweighs the BENEFITS he should close the project.

The Four (4) Levels of Project Management
- Corporate Management ( Project Owner )
- Project Board ( Senior Executive )
- Project Manager
- Team Manager

Responsibilities of a Project Manager
- Strategy
- Communication
- Teamwork
- Planning
- Monitoring
- User needs
- Cost Management
- Quality
- Product and Project Status
- Line Management

Types of Management
1.) Communication Management
2.) Scope Management
3.) Time Management
4.) Cost Management
5.) Risk Management
6.) Quality Management

Communication Management
Communication Model Elements
1.) Communicator or Source – The Originator of the message
2.) Message – The Physical thought or idea
3.) Medium or Channel – The method used to convey the message
4.) Recipient – The recipient of the message

Types of Communication
1.) Verbal Communication
2.) Non-verbal Communication
- Written
- Electronic

Note: A good project manager must be an effective communicator

Communication Methods
1.) Interaction Communication – Occurs between two or more parties
2.) Push Communication – Sent to specific recipients who need the information e.g. Email
3.) Pull Communication – Recipients go and access the information e.g. Website, Intranet etc.

What is a Report?
A report is a spoken or written account giving of a particular matter, especially in the form of an official document. After thorough investigation or consideration by an appointed person or body.

Report Types
1.) Time driven e.g. Milestones Report, Check points Report, Final Project Report etc.
2.) Event driven e.g. Escalation Report, Project Status etc.

Scope Management
What is Scope Management?
Scope Management is concerned with the process required to ensure that the project includes ALL the work required and ONLY the work required.

The Processes Include:
1.) Collect Requirements
2.) Define Scope
3.) Create WBS (Work Breakdown Structure)
4.) Verify Scope
5.) Control Project Scope

Time Management
The Processes Include:
1.) Define Activities
2.) Sequence Activities
3.) Estimate Activity Resources
4.) Estimate Activity Duration
5.) Develop Schedule
6.) Control Schedule

Cost Management
The Processes include:
1.) Estimate Cost
2.) Determine Budget
3.) Control Cost

Risk Management
What is a Risk?
A risk is thought of as an uncertainty meaning it can either be a positive or a negative outcome also a Risk can be said to be a threat which the only possible outcome is negative.

The Processes Include:
1.) Plan Risk Management
2.) Identify Risk
3.) Plan Risk Response
4.) Qualitative Risk Analysis – Carrying out an analysis of the probability and possible impact of each risk on the project
5.) Quantitative Risk Analysis – Attempting to numerically quantify the effects of individual risks on the project outcome.
6.) Monitor and Control Risks

Categories of Risk
- Market Risk
- Financial Risk
- Technology Risk
- People Risk
- Structure/Process Risk

The SWOT Analysis
A good project manager must always consider:
S – Strength
W – Weakness
O – Opportunities
T – Treats

By OLISAEMEKA ANENE
Olisa

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