PROJECT MANAGEMENT

Definition:

A project may be defined as:

“A temporary endeavor undertaken to create a unique product, service, or result.”

A project is defined:
As a sequence of tasks that must be completed to attain a certain outcome.

According to the Project Management Institute (PMI), the term Project refers to

“any temporary endeavor with a definite beginning and end”.

Three Project Objectives:

“Triple Constraints” or “Iron Triangle”
Let’s define constraints in project management.

A constraint is something that imposes boundaries on your project activity. 

It puts limits on what you can do or how you do it. The triple constraints of project management are
 Time
 Cost
 Scope
The triple constraint theory in project management says every project operates within the boundaries
of scope, time, and cost. A change in one factor will invariably affect the other two. In other words, it’s
all about trade-offs. As project manager, it’s your job to balance these triple constraints and manage
expectations so everyone understands what it takes to achieve project success.
For example:
 If a client wants to add a bunch of new features to the project’s scope, they’ll have to budget
more time and money to get ‘er done.
 Or if your boss slashes your project budget, you’ll need to scale back the project requirements.
A change in one factor will invariably affect the other two. In other words, it’s all about trade-offs. As
project manager, it’s your job to balance these triple constraints and manage expectations.
Constraints are trade off. If you switch up one the thing, it will have an impact on something else. You
have to constantly balance different elements to ensure you get an acceptable result for your project
stakeholder.
Time (schedule):
Time is a project constraint because often projects have fixed deadlines or milestones that must be
achieved at a certain time. In project management, if you want a project done fast, it’s going to cost
you—especially if you’re not willing to bend on the scope. That’s because a short deadline requires
more resources to get the work done on time.
A detailed scope document provides the perfect foundation for understanding your project’s time
constraint because you can use it to build out a project estimate.
Cost (Budget):
Cost is a project constraint because companies naturally have to limit the amount of money they spend
on any activity.
Estimating a project’s time and effort also forms the basis for your project budget.
Here are a few costs to consider when formulating a project budget:
 Resource Costs, based on estimated hours
 Material
 Equipment
Costs are normally specified in the business case so the constraint is documented there.
Scope:
Scope is a project constraint because the work to complete the project is defined and has a defined
end goal.  If the project completed and this core element had not been delivered, the project would
not be seen as a success. 
Monitoring scope changes enables you to discuss trade-offs early and make necessary adjustments
before your project gets off course.

Characteristics of project:
Three universal characteristics of every project:
There are three characteristics that all projects share and a number of other characteristics that are
common to projects but not universal.
The first universal characteristic of projects is that every project is Unique.
A project is unique in that it is not a routine operation, but a specific set of operations designed to
accomplish a singular goal. No two construction or R&D projects are precisely alike.
The second universal characteristic is that a project is a one-time occurrence with a well-defined and
specific set of desired end results.
The end results are referred to as the “scope,” or sometimes required “performance,” of the project.
The project can be divided into subtasks that must be accomplished in order to achieve the project
goals
The third universal characteristic of projects is that they have a finite duration.
There is a clear date when the project is launched and a corresponding due date or deadline.
This key characteristic means that every project has a finite start and a finite end. The start is the time
when the project is initiated and its concept is developed. The end is reached when all objectives of the
project have been met.

Interdependencies:
While not universally true, projects often interact with other projects being carried out simultaneously
by their parent organization. Typically, these interactions take the form of competition for scarce
resources between projects. While such interproject interactions are common, projects always interact
with the parent organization’s standard, ongoing operations. Although the functional departments of
an organization interact with one another in regular, patterned ways, the patterns of interaction
between projects and these departments tend to be changeable.
Marketing may be involved at the beginning and end of a project, but not in the middle.
Operations may have major involvement throughout.
Finance is often involved at the beginning and accounting (the controller) at the end, as well as at
periodic reporting times.
The PM must keep all these interactions clear and maintain the appropriate interrelationships with all
external groups.
The Project Life Cycle
Most projects go through similar stages on the path from origin to completion. We define these stages,
as the project’s life cycle.
 The project is born (its start-up phase) and a manager is selected, the project team and initial
resources are assembled, and the work program is organized.
 Then work gets under way and momentum quickly builds. Progress is made. This continues
until the end is in sight.
 But completing the final tasks seems to take an inordinate amount of time, partly because
there are often a number of parts that must come together and partly because team
members “drag their feet” for various reasons and avoid the final steps.
This “stretched-S” pattern of slow–rapid–slow progress toward the project goal is common. For the
most part, it is a result of the changing levels of resources used during the successive stages of the life
cycle.
 The s-curve often forms the shape of an “s” because the growth of the project in the beginning
stages is usually slow: The wheels are just beginning to turn; team members are either
researching the industry or just starting to engage in the first phase of execution, which can
take longer at first, before they get the hang of it or before there are kinks to work out.
 Then, as more progress is made, the growth accelerates rapidly—creating that upward slope
that forms the middle part of the “s.” This point of maximum growth is called the point of
inflexion. During this period, project team members are working heavily on the project, and
many of the major costs of the project are incurred.
 After the point of inflexion, the growth begins to plateau, forming the upper part of the “s”
known as the upper asymptote—and the “mature” phase of the project. This is because the
project is mostly finished at this point finishing touches and final approvals are left at this point.
Project Effort Curve
Project effort, usually in terms of person-hours or resources expended per unit of time (or number of
people working on the project) plotted against time, where time is broken up into the several phases of
project life. Minimal effort is required at the beginning, when the project concept is being developed
and subjected to project selection processes.
Relation between Progress Curve (Stretched S-curve) and Effort Curve
Normally, there is a strong correlation between the life-cycle progress curve of and the effort curve of
because effort usually results in corresponding progress (although not always). Moreover, since the
effort curve is generally nonsymmetrical, the progress curve will in general not be symmetrical either.

Activity increases as planning is completed and execution of the project gets underway. This rises to a
peak and then begins to taper off as the project nears completion, finally ceasing when evaluation is
complete and the project is terminated. While this rise and fall of effort always occurs, there is no
particular pattern that seems to typify all projects, nor any reason for the slowdown at the end of the
project to resemble the buildup at its beginning.
Stretched-JProject life Cycle
Some projects end without being dragged out. These curves are opposite to stretched-S curves. As
these projects near completion, additional inputs result in successively larger increments of progress-
increasing marginal returns, obviously bounded at 100% completion. . However, for the stretched-J
progress curve, the expenditure of resources has little correlation with progress, at least in terms of
final benefit.

QUESTIONS OF CHAPTER 1:
Name and briefly describe the societal forces that have contributed to the need for project
management.
Exponential expansion of human knowledge.
As and when the team members work on the project, they learn a lot of things required
for the development of the project. In this process, they acquire knowledge which helps in the
execution of the project faster.
b) The growing demand for a broad range of complex, sophisticated, customized goods and services.
When these criteria are required, there comes a lot of challenging work. This helps the
project manager and his teammates to work efficiently and hence calls for project management.
c) The evolution of worldwide competitive markets for production of goods and services.
Because of the competition, there are always continuous efforts, innovative ideas for the execution of
a project.

Describe the limitations of project management?

Inability to “stick” with the project scope:
Project Management, by definition, is unable to commit to the original project scope due to constant
change requests. This limitation causes a lot of problems, and is the reason why so many projects end
up way over budget and many months/years late, sometimes even cancelled or killed.
Inability to fully align the project objectives with the business/organizational strategy:
By definition, Project Managers manage projects, not their organization. Although projects are usually
initiated by stakeholders/executives with a clear relation and full alignment with the overall corporate
strategy, Project Managers are incapable, by themselves, to make sure that their projects are kept
aligned with the company’s strategy. In order to solve this limitation in Project Management, Program
Management was introduced as a higher layer of managerial control to guarantee and sustain
alignment.
Inability to manage projects with unspecified budget and/or schedule:
This is probably the biggest limitation in the traditional incarnation of Project Management. Project
Management imposes a budget and a deadline on any project and thus creates a major problem. All
projects finishing on time and on schedule have their quality compromised.
Dependence on functional management:
Traditional Project Management is clear about the authority of the Project Manager over the
resources: he has none. It is the functional managers who own the resources. The dependence on
functional management is a major limitation in Project Management, as Project Managers are
constantly at the mercy of both the functional managers and the resources and they have to
compromise, or “offer something” in return, just to get things done. Note that this limitation is almost
negligible in highly projectile organizations.
Following an exclusive methodology:
Project Management forces the Project Manager to choose and follow a methodology, be it the
traditional (waterfall) methodology, or a newer methodology such as Agile. In Project Management, a
project can only be managed using one methodology, and, in almost all cases, is not switched from one
methodology to the other, even when the other methodology is proven to be highly successful for that
type of project. Being restricted by an exclusive, no changeable methodology, either at the project
level or the organizational level undermines and limits the potential of the project as well as the
resources.
6. Discuss the advantages and disadvantages of project management.

Advantages of Project Management:

The first and foremost advantage is the fact that a particular project is handled by separate
project manager as he or she will concentrate only on that particular project that makes it
more likely to achieve success.
Another pro of project management is that it helps the company in achieving efficiency
when it comes to capital, labor, and other operational related expenses as it keeps a close
watch on all the activities of the project which in turn helps the management in identifying
the areas which are revenue leaking and helps the company in saving lot of capital.
It helps the company in developing managerial qualities in talented people by assigning
them first small projects and then big projects which in turn create a favorable atmosphere
in the company where people know that there is ample scope for growth.
Project management creates a system whereby workflow is measured and accounted for,
ensuring that resources are used judiciously in fulfilling the goals of the project.
Managing projects from start to finish can help control project costs and help a project
manager retain control over his budget, identifying problems or issues before they turn into
roadblocks.
Effective project managers make determinations about appropriate staffing and team
formation in the early stages of project planning. This allowing the company to use its
human resources judiciously and effectively.
Disadvantages of Project Management:
The biggest disadvantage of project management is that sometimes it leads to overlapping
of authority and responsibility between the top management and project management
where they have different plans in mind which leads to confusion among the team
members of project and further project suffering.
Another con of project management is that it may be possible that there is no competent
staff to carry the responsibility of project manager and if management selects incompetent
staff then project will be a failure leading to losses for the company.
Another limitation of project management is that suppose the company is working on 10
projects simultaneously then it will require 10 project managers to handle those projects
which are not possible if the company is small and ultimately all projects are handled by
either single project manager or top management itself and thus limiting the use of project
management.
Overhead:
Project Management presents 3 types of overhead:
 Cost overhead
 Communication overhead
 Time overhead
Cost overhead:
Project Management (that includes hiring, training, etc.) costs money. 
Communication overhead:
Instead of having the information flow directly from functional managers down to the team
members and back up, it’s all funneled through the Project Manager.
Time Overhead:
The communication overhead stated above is one cause of time overhead.
Additionally Project Managers can never accurately assess the length of any task, and pad
their estimates so that they won’t wind up with a late project.
Obsession:
Methodology obsession: Instead of just “getting the project done”, some Project Managers
become so closed and so protective their own methodology that they refuse to experiment
with another one that might be faster and better for their current project.
Process obsession:
Quite a few Project Managers hinder the progress of the project with their obsession for
sticking to the process because of Insecurity and Fear of loss of control.
Stakeholder obsession:
Instead of managing the stakeholders’ expectations, requests, and interference, and
focusing on getting their support, these Project Managers try their best to accommodate
the stakeholders that is costly and needless.
Lackluster Creativity.
Strict project management can discourage outside the box thinking and hamper creative
efforts. Project teams that experience collective creative block can slow progress, employ
cost overages and generally take a project off-track. Intervention and creativity-generating
approaches, like brainstorming sessions, may be necessary to refocus the group.

12. Describe the characteristics of quasi-projects.

 No specific task identified
 No specific budget given
 No specific deadline provided.

How do projects, programs, tasks, and work packages differ?

Programs:
A program refers to multiple projects which are managed and delivered as a single package.
Often not distinguished from a project, but frequently meant to encompass a group of projects
oriented toward a specific goal.
Project:
“A temporary endeavor undertaken to create a unique product, service, or result.”
A project manager is therefore responsible for ensuring a project delivers on its intended output in line
with a defined time frame and budget.
Work Packages:
A work package is a group of related tasks within a project. Because they look like projects themselves,
they are often thought of as sub-projects within a larger project. Work packages are the smallest unit
of work that a project can be broken down to when creating your Work Breakdown Structure (WBS).
A sub-element of a task used to assign costs and values.

 A project represents a single, focused endeavor.

 A program is a collection of projects – together all the projects form a connected package of
work.
 Projects focus on achieving tangible outputs.
 Programs focus on outcomes – which are often not tangible.

The Concept of Quasi Project

Quasi-projects are poorly defined projects. There is a disconnect between the timeframes and project
objectives. This poorly conceived notion trickles down into other project parameters such as budgets,
unique product or service, project targets and due dates. “These projects are led by the demands of the
Information Technology/Systems departments”
This type of project has a lack of clarity in timeframes to attain the necessary certifications which cause
delays in the product launch. There is also an uncertainty in budgets because the workforce available
might not be sufficient to complete the projects on time and under budget.
 When any one or all of the three primary project objectives are ill-defined, we call this a
“quasi-project.” Such projects are extremely difficult to manage and are often initiated by
setting an artificial due date and budget, and then completed by “de-scoping” the required
deliverables as the project progresses, to meet those limits.
 However, new tools for these kinds of quasi-projects are now being developed—prototyping,
Agile project management, and others—to help these teams achieve results that satisfy the
customer in spite of all the unknowns.
For example
A Medical Device startup with access to its design but lacking the necessary certifications to move the
product into mass manufacturing is a classic example of a quasi-project management system.

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 Project Life-cycle
A project life cycle is the sequence of phases that a project goes through from its initiation to its
closure. The number and sequence of the cycle are determined by the management and various other
factors like needs of the organization involved in the project, the nature of the project, and its area of
application. The phases have a definite start, end, and control point and are constrained by time.

The Project Phases Involved:

 Phase 1: The Conceptualization Phase
 Phase 2: The Planning Phase
 Phase 3: The Execution Phase
 Phase 4: The Termination Phase
Phase #1: The Conceptualization Phase
This can also be referred to as the ‘Initiation Phase’ and is the starting point of any project or idea.
The initiation phase aims to define and authorize the project. The project manager takes the given information and
creates a Project Charter. The Project Charter authorizes the project and documents the primary requirements for the
project. It includes information such as:
 Project’s purpose, vision, and mission
 Measurable objectives and success criteria
 Elaborated project description, conditions, and risks
 Name and authority of the project sponsor
 Concerned stakeholders
Phase #2: The Planning Phase
The second phase of the project management life cycle is referred to as the Planning Phase.
During this phase of the project management life cycle, you break down the larger project into smaller
tasks, build your team, and prepare a schedule for the completion of assignments. Create smaller goals
within the larger project, making sure each is achievable within the time frame. Smaller goals should
have a high potential for success.
Steps for the project planning phase may include the following:
Creating a project plan: 
Identify the project timeline, including the phases of the project, the tasks to be performed, and
possible constraints
 Creating workflow diagrams:
Visualize your processes using swim lanes to make sure team members clearly understand their role in
a project
 Estimating budget and creating a financial plan: 
Use cost estimates to determine how much to spend on the project to get the maximum return on
investment
 Gathering resources: 
Build your functional team from internal and external talent pools while making sure everyone has the
necessary tools (software, hardware, etc.) to complete their tasks
 Anticipating risks and potential quality roadblocks: 
Identify issues that may cause your project to stall while planning to mitigate those risks and maintain
the project’s quality and timeline.
3. Execution
You’ve received business approval, developed a plan, and built your team. Now it’s time to get to work.
The execution phase turns your plan into action. The project manager’s job in this phase of the project
management life cycle is to keep work on track, organize team members, manage timelines, and make
sure the work is done according to the original plan.
4. Closure
Once your team has completed work on a project, you enter the closure phase. In the closure phase,
you provide final deliverables, release project resources, and determine the success of the project. Just
because the major project work is over, that doesn’t mean the project manager’s job is done—there
are still important things to do, including evaluating what did and did not work with the project.

Trends in Project Management

Many new developments and interests in project management are being driven by quickly changing
global markets, technology, and education. Global competition is putting pressure on prices, response
times, and product/service innovation. Computer and telecommunications technologies along with
greater education are allowing companies to respond to these pressures, pushing the boundaries of
project management into regions where new tools are being developed for types of projects that have
never been considered before. In addition, the pressure for more and more products and services has
led to initiating more projects, but with faster life cycles. We consider a variety of trends in turn.

 Achieving Strategic Goals

There has been a greater push to use projects to achieve more strategic goals and filtering existing
major projects to make sure that their objectives support the organization’s strategy and mission.
Projects that do not have clear ties to the strategy and mission are terminated and their resources are
redirected to those that do.
 Achieving Routine Goals
On the other hand, there has also been a push to use project management to accomplish routine
departmental tasks that would previously have been handled as a functional effort. This is because
lower level management has become aware that projects accomplish their scope objectives within
their budget and deadline and hope to employ this new tool to improve management of their
functions. As a result, artificial deadlines and budgets are created to accomplish specific, though
routine, tasks within the functional departments, a process called “projectizing.” If the deadline isn’t
really important and the workers find out it is only artificial, this will destroy the credibility of any
future deadlines or budgets.
 Improving Project Effectiveness
A variety of efforts are being pursued to improve the results of project management, whether strategic
or routine. One well-known effort is the creation of a formal Project Management Office in many
organizations, which is responsible for the evaluation and improvement of an organization’s project
management “maturity,” or skill and experience in managing projects. Other measures to improve
project effectiveness are better liaison with the project’s stakeholders, especially, the client, through
improved governance procedures, and implementing more innovative risk-sharing win—win contracts.
 Virtual Projects
With the rapid increase in globalization, many projects now involve global teams with team members
operating in different physical geographic locations and different time zones, each bringing a unique
set of talents to the project. These are known as virtual projects because the team members may
never physically meet before the team is disbanded and another team reconstituted. Advanced
telecommunications and computer technologies allow such virtual projects to be created, conduct
their work, and complete their project successfully.

 Dynamic and Quasi-Projects

Led by the demands of the information technology/ systems departments, project management is now
being extended into areas where the final scope requirements may not be understood, the time
deadline unknown, and/or the budget undetermined. When any one or all of the three primary project
objectives are ill-defined, we call this a “quasi-project.” Such projects are extremely difficult to manage
and are often initiated by setting an artificial due date and budget, and then completed by “de-
scoping” the required deliverables as the project progresses, to meet those limits. However, new tools
for these kinds of quasi-projects are now being developed—prototyping, Agile project management,
and others—to help these teams achieve results that satisfy the customer in spite of all the unknowns.
Similarly, when change happens so rapidly that the project is under constant variation, other
approaches are developed such as “emergent planning” (also known as “rolling wave”), environmental
manipulation, alternate controls, competing experiments, and collaborative leadership.