Basics of Project

Management

Introduction to Project Management

Project management is the planning, organizing, and managing resources to achieve specific goals
a defined timeframe.
within
Definition of Project Manage…
It involves applying knowledge, skills, tools, and techniques to meet project requirements and deliver…

A project is a temporary endeavor with a defined beginning and…

What is a Project?
Projects are undertaken to create a unique product, service, or result. They differ from
operations
routine because they are temporary and produce something new.

Temporary: Projects have a specific start and end date. Once objectives are achieved, the project
closed.
is

Unique: Every project produces a unique output, even if it is similar to previous…

Goal-Oriented: Projects are designed to achieve specific objectives, such as delivering a product,
Characteristics of Projects or result.
service,

Cross-Functional: Projects often involve multiple departments or departments working to…

Constraints: Projects operate within constraints like time, cost, and…

Initiation: Defining the project objectives and obtaining approval to…

Planning: Developing a detailed plan to guide the…

Project Management… Execution: Carrying out the roadmap and completing the…

Monitoring & Controlling: Tracking progress, managing changes, and ensuring the project stays on…

Closing: Finalizing all activities and formally closing the…

Key Components of Project Management

Scope Planning: Defining how the scope will be

defined, validated, and controlled.

Scope Definition: Breaking down the

into smaller, manageable components.
project

Scope management ensures the project Work Breakdown Structure (WBS): A

1. Project Scope Management includes all the work required to complete it hierarchical decomposition of the project into
successfully and nothing more. It involves: tasks and subtasks.

Scope Verification: Formal acceptance of the

completed project deliverables.

Scope Control: Managing changes to the

project scope to avoid scope creep.

Activity Definition: Identifying specific tasks

required to complete the project.

Activity Sequencing: Determining the order

which
in tasks should be performed.

Time management ensures the project Activity Duration Estimation: Estimating

2. Project Time Management completed on time. It involves: time
is the required to complete each task.

Schedule Development: Creating a project

schedule using tools like the Gantt chart or
CPM.

Schedule Control: Monitoring the schedule

making
and adjustments as needed.

Cost Estimation: Estimating the overall cost of

resources, materials, and labor.

Cost management ensures the project is

completed within the approved budget. Cost Budgeting: Allocating the costs to
3. Project Cost Management estimate individual tasks.
involves:
It

Cost Control: Monitoring expenses and

managing changes to the budget.

Quality Planning: Identifying quality stan-

and determining how to meet them.
dards

Quality Assurance: Evaluating project

Quality management ensures the project performance to ensure quality standards
4. Project Quality Management the required standards. It involves:
meets met.
are

Quality Control: Monitoring specific project

results to ensure they comply with quality
standards.

Resource Planning: Identifying the roles

responsibilities
and required for the project.

Resource Acquisition: Recruiting or assign-

Human resource management involves team
ing members.
5. Project Human Resource Manage… organizing and leading the project team.
includes:
It Team Development: Training and building
cohesion.
team

Team Management: Motivating and manag-

the
ing team to achieve project goals.

Communication Planning: Effective

communication among stakehold-
ers.
Information Distribution: Sharing
Communication management determines information
project with stakeholders.
6. Project Communication Manage… communication
the needs of stakeholders. It
involves:
Performance Reporting: Providing updates
project
on progress.

Stakeholder Management: Managing

stakeholder expectations and engage-
ment.

7. Project Risk Management

Risk Identification: Identifying potential risks that could affect the…

Risk Analysis: Assessing the likelihood and impact of…

Risk management involves identifying
managing
and potential risks. It includes:
Risk Response Planning: Developing strategies to mitigate or avoid…

Risk Monitoring & Control: Tracking risks and implementing response…

8. Project Procurement Manage…

Procurement Planning: Determining what to procure and…

Solicitation Planning: Preparing documents like RFPs (Request for Propos…

Procurement management involves acquir- Solicitation: Obtaining proposals from ven…

goods
ing and services from external sources. It
includes:
Source Selection: Evaluating proposals and selecting ven…

Contract Administration: Managing vendor relationships and con…

Contract Closeout: Finalizing contracts and completing procurement activi…

9. Project Stakeholder Manage…

Stakeholder Identification: Identifying all individuals or groups affected by the…

Stakeholder management focuses on Stakeholder Engagement Planning: Developing strategies to engage stake…
identifying and managing stakeholder-
expectations.
s' It involves:
Stakeholder Engagement: Communicating with stakeholders and addressing their con…

Stakeholder Monitoring: Tracking stakeholder engagement and adjusting strategies as…

Project Life Cycle

Key activities: Conducting a feasibility study, developing a project charter, and identifying stakehold…
1. Initiation…
Define the project at a high level.

Key activities: Developing project scope, creating a WBS, estimating costs, and developing a…
2. Planning Phase
Drive a detailed project plan.

Key activities: Managing resources, executing tasks, and ensuring…

3. Execution Phase
Carry out the project plan.

Key activities: Monitoring performance, managing changes, and controlling…

4. Monitoring & Controlling Phase
Track progress and make adjustmen…

Key activities: Delivering the final product, conducting a project review, and documenting lessons…
5. Closing Phase
Finalize the project.

Project Management Tools and Techniques

A hierarchical decomposition of the project into smaller, manageable…

1. Work Breakdown Structure (WBS)
Helps in organizing and defining the total scope of the…

Shows tasks, durations, and dependen…

2. Gantt Chart
A visual representation of the project schedule.

Identifies the longest path of tasks that determine the project dura…
3. Critical Path Method (CPM)
Helps in scheduling and resource alloca…

Helps in scheduling and resource alloca…

4. Program Evaluation and Review Tech-

(PERT) Estimates project duration using three time estimates: optimistic, pessimistic, and most…
nique

Formula: Expected Time = (Optimistic + 4 * Most Likely + Pessimistic) /…

Measures project performance by integrating scope, time, and cost…

5. Earned Value Management (EVM)
Key metrics: Planned Value (PV), Earned Value (EV), and Actual Cost (AC).

A tool to assess risks based on their probability and im…

6. Risk Matrix
Helps in prioritizing risks and developing response…

Roles and Responsibilities in Project Manage…

The person responsible for leading the project team and ensuring project suc…

Planning and defining the project…

1. Project Manager

Managing resources, budget, and…

Key responsibilities:
Communicating with stakehold…

Monitoring progress and managing…

Individuals responsible for executing project…

2. Project Team
Roles may include engineers, designers, analysts, and other special…

Individuals or groups affected by the project.

3. Stakeholders
Examples: Clients, sponsors, end-users, and regulatory bod…

Project Management Methodologies

A sequential approach where each phase is completed before moving to the…

1. Waterfall Model
Suitable for projects with well-defined requiremen…

An iterative approach focusing on collaboration, customer feedback, and small, rapid re…
2. Agile Methodology
Suitable for projects with evolving requiremen…

A subset of Agile, emphasizing teamwork, accountability, and iterative…

3. Scrum
Key roles: Product Owner, Scrum Master, and Development…

Focuses on delivering value by eliminating waste and optimizing…

4. Lean Project Management
Principles: Value Stream, Flow, Pull, and Perfec…

Importance of Project Management

Ensures projects are completed on time, within budget, and meet quality stan…

Improves resource allocation and risk manage…

Enhances communication and stakeholder satisfac…

Increases the likelihood of achieving project objec…

Common Challenges in Project Management

Scope creep: Uncontrolled changes in project scope.

Poor communication: Miscommunication among stakehold…

Inadequate Risk Management: Failure to identify or address…

Resource Constraints: Limited time, budget, or person…

Unrealistic Expectations: Setting unachievable goals or dead…

Key Terms and Definitions

Milestone: A significant point or event in the…

Deliverable: A tangible or intangible output of the…

Baseline: The original plan for scope, schedule, and…

Change Control: Process of managing changes to the project…

KPI (Key Performance Indicator): Metrics used to evaluate project suc…