Project Management-Assignment 01

PROJECT MANAGEMENT

ASSIGNMENT 01

NAME

: SUDHARSON MURUGIAH

ADMISSION No. : DIPM/102

Foreword I have prepared this assignment for the project management with the help of our project management presentations and various knowledge resources from internet and e-books. Even though I used my own knowledge & techniques to elaborate the significant terms to better understanding. I took some assumptions to ensure the accuracy & to understand the assignment in very easy manner. M.Sudharson

Extra: I have added graphical images/picture in left hand side which are related to written topics in right hand side to give a ruff idea for the reader.

Contents 1. The definition of Project 2. The difference between Line management & project management 3. The three phases of project management 4. The role of project manager & his importance 5. The definition of stake holders & their significance in project management 6. The definition of Work Breakdown Structure {WBS} Example-WBS 7. The definition of PRINCE2 Example-PRINCE2 8. The definition & importance of Time Planning 9. The definition & importance of Cost Planning 10. The definition & importance of Quality Planning

1. The definition of Project Definitions  A project in business and science is a collaborative enterprise, frequently involving research or design that is carefully planned to achieve a particular aim.  A project can be defined as a REPETATIVE or NON REPITATIVE, permanent or semi-permanent functional work to produce products or services.  A project is a temporary endeavor, having a defined beginning and end.  The output is normally measurable.  Undertaken to meet unique goals and objectives.  It normally revolves around constrains such as time, cost and resources.  Always some changes are going on.  Usually to bring about beneficial change or added value.  A project in business and science is a collaborative enterprise, frequently involving research or design that is carefully planned to achieve a particular aim.

2. The difference between Line management & project management Line management  Line management is the work of a business manager to administrate the enterprise activities that contribute directly to the output of products or services.  They are charged with meeting corporate objectives in a specific functional area or line of business.  A hierarchical chain of command from executive to front-line level.  Responsible for manage a particular task.  Authority is limited and defined by management structure.  Consistent set of tasks.  Limited Responsibility.  Work in permanent locations / organizations.  Main task is optimization.  Success determined by achieving interim set of targets.  Limited set of variables.  No Challenges on a day to day basis.  Easy life.

Project management  Careful consideration must be given to the overall project.  Honoring the preconceived project constraints (scope, time, and budget).  Optimize the allocation and integration of inputs necessary to meet pre-defined. Objectives.  Responsible for everything.  Lines of authority are fuzzy.  Ever changing set of tasks.  Lot of challenges.  Main task is to resolve the conflicts.  Work in a uncertain environment.  Predominantly connected with innovation / problem solving.  Works in various places / projects / countries.  Success determined by overall performance of stage wise completion of projects.  Tough life.

3. The three phases of project management  Design it –conceptualization, analysis, proposal, justification, agreement.  Do it – start-up, execution, completion, handover.  Develop it –review, feedback.

4. The role of project manager & his importance The role  Desire to satisfy the customers and stake holders.  Accepting challenges.  Focused on action and getting things done.  Desire to make use of the resources to the maximum extend.  Desire to reduce waste.  Personal integrity.  Flexible – yet achieving the goals.  Personal goals aligned with Project goals.  Ability to determine the needs.  Analytical skills-Be proactive, not reactive.  Technical skills.  Team building skills-Unify teams.  Ability to delegate.  Ability to negotiate-Minimize conflict and confusion.

 Be Agile-you need to respond with agility to rising issues and changes.  Do Not Micromanage-overly analytical and invest too much time in perfecting details, when they should really focus on achieving milestones and the completion of the project.  Keep Improving Your Project Management Practice.  Ongoing Planning.  Plans always change and reprioritize with situations. For this, plan, re-plan, and plan.  Work with a Sense of Urgency.  Visualize and Communicate all Project Deliverables and Activities  Complete Deliverables Step-by-Step.  Healthy Risk Management-Assign a risk officer who will be responsible for detecting potential project issues.  Open Communication. The impotence of project manager  Never Lose Sight of the 3-Factors: Time, Budget, and Quality.  Make decisions with confidence and achieve better visibility and control of a project.  Meet deadlines, stay within a budget, and achieve high quality by meeting or exceeding customer expectations.  Lower the cost of a project by accomplishing more work in less time and with fewer resources without any sacrifice in quality.

5. The definition of stake holders & their significance in project Management Stack holders  Stake holders are the end-users or clients, the people from whom requirements will be drawn, the people who will influence the design and, ultimately, the people who will reap the benefits of your completed project. Stack holders’ significance  It is extremely important to involve stakeholders in all phases of your project for two reasons:  Firstly, experience shows that their involvement in the project significantly increases your chances of success by building in a self-correcting feedback loop.  Secondly, involving them in your project builds confidence in your product and will greatly ease its acceptance in your target audience. E.g. Executive-Executive stakeholders are the people who pay the bills. Typically They are managers or directors End-User-These are the people that are going to use your product Expert-Sometimes you need input from experts in other fields. People like Graphic designers, support reps, sales or sometime lawyers and Accountants

6. The definition of Work Breakdown Structure {WBS} Definition  A complex project is made manageable by first breaking it down into individual components in a hierarchical structure, known as the work breakdown structure, or the WBS.  Such a structure defines tasks that can be completed independently of other tasks, facilitating resource allocation, assignment of responsibilities, and measurement and control of the project.  This facilitates easy handling by different Persons

Example-WBS  Below is a work breakdown structure for the recruitment of a new person to fill a vacant post: Assumption: assume that the organization is posses a structured management or Systematic approach Explanation:  The Need-the need for filling the vacant post was handled by a specific person He/she will decide how much they can pay, do they need other alternative Options to handle that specific vacant post (i.e.-out sourcing) & give Approval to precede the given task. E.g.-finance manager/department, human resource Manager/department, CEO  Job specification-this was handles by the person/team where exactly the vacant post is Available. They will define the candidate working time and personal Attitude. e.g. - supervisors, managers  Attracting-this may be handled by professional advertisement organizations /recruitment agencies. But people who are related to Human resource Management will also add some inputs. E.g. professional advertising firms, media (electronic, newspapers), Recruitment agencies, Human resource management (some times...!)

 Short listing-this will be done by Human resource management or recruitment Agencies. They will go thought the received C.Vs' and identify The suitable candidates to shortlist. e.g. - recruitment agencies, Human resource management  The interview-the interview is handles by the higher management of the organization. They will go through the certificates obtained from the candidate, Ask questions & examine the candidates' personal attitude, etc... E.g. Human resource management, CEO, directors  Post selection-their is also by the higher management of the organization then they Conduct interview. E.g. Human resource management, CEO, directors IMPORTANT: note human resource management (Hrm) continuously engaged on, Entire process, even though Hrm’s work load was shared by different People/work was breakdown in to pieces in order to reduce the Complexity.

7. The definition of PRINCE2 Definitions  PRINCE 2 Means – Projects in controlled environments.  PRINCE2 is a generic, tailor able, simple to follow project management method. It covers how to organize, manage and control your projects.  It is a structured way of managing projects.  Founded in UK as a standard for Project Management.  Has 8 key processes 1. Directing the project 2. Planning a project 3. Starting up a project 4. Initiating a project 5. Controlling a stage 6. Managing Project Delivery 7. Managing the stage boundaries 8. Closing a Project Example-PRINCE2 Explanation:  PRINCE2 describes procedures to coordinate people and activities in a project, how to design and supervise the project, and what to do if the project has to be adjusted if it does not develop as planned.  In the method, each process is specified with its key inputs and outputs and with specific goals and activities to be carried out. This allows for automatic control of any deviations from the plan. Divided into manageable stages, the method enables an efficient control of resources. On the basis of close monitoring, the project can be carried out in a controlled and organized way.

8. The definition & importance of Time Planning Definition  Generally, time management refers to the development of processes and tools that increase efficiency and productivity.  Time planning in project management context is preparing the time schedule for the project as close as possible to the practical implementation.  This gives a clear picture of the project activities and their time plan. Importance  Increased energy, productivity and motivation.  To communicate with others.  Greater sense of control.  To identify the constituent activities.  More decisive, proactive rather than reactive.  To determine the sequence of activities.  Not taking problems home.  To estimate the resources required.  Acting assertively.  To review from time to time to see the progress.  Tackling procrastination and perfectionism.  To evaluate / improve / bench mark.  Improved timekeeping.

9. The definition & importance of Cost Planning Definitions  Cost Planning is simply calculating the cost of the project in its various stages as well as a whole.  The function required to maintain effective financial control of a project through the processes of evaluating, estimating, budgeting, monitoring, analyzing, forecasting, and reporting the cost information.  The ability to maintain and calculate appropriate cost data relating to a product or a service. Importance  Greater satisfaction with end results.  Better value for money.  Improved building quality and performance.  Budget and value accountability.  Improved relationships between all project Participants.  Design problems identified and solved earlier.  Early identification of high-cost elements.

10.The definition & importance of Quality Planning Definitions  According to ISO 9000:2000 the definition of Quality Planning is art of quality management focused on setting quality objectives and specifying necessary operational processes and related resources to fulfill quality objectives.  Quality is meeting or exceeding customer expectations at a cost that represents a value to them.  Quality is fitness for use.  Quality should be defined as surpassing customer needs and expectations throughout the life of the product. Importance  Safety and effectiveness.  Client satisfaction and, as a result, longer continuation.  Wider use of contraception.  Job satisfaction for providers  Better program reputation and competitiveness.  Expanded access to services.

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