Project Management

SUBJECT-ENTREPRENEURSHIP AND ENERGY CONSERVATION MANAGEMENT

PAPER CODE-6GT1
Project

 A project is a one-shot, time-limited, goal-oriented, major Undertaking, requiring the

commitment of varied skills and resources; and

 A project is a combination of human and non-human resources pulled together in a

temporary organisation to achieve a specified Purpose.
 From the above definitions, it is clear that a project has a single set of objectives, and
when these objectives are reached, the project is completed. Therefore, a project has a
finite and well-defined lifespan
Given below are some of the basic characteristics of a project:
➢ A project Is a temporary activity. An ad-hoc organisation of facilities, materials, and personnel is
assembled to accomplish a goal, usually within a specified time-frame. Once the goal is achieved,
the group is disbanded or reconfigured to work on a new activity.

➢ A project is a unique activity, in that it requires doing something Different from what was done
previously. A project is a one-Time activity, never to be exactly repeated.

➢ A project usually involves at least one, single, definable end- product or result, that can be defined
in terms of cost, schedule, and performance requirements. As a matter of fact, these parameters
are often considered the ‘dimensions’ of a project.

➢ Since a project differs from what was done previously (even in a ‘routine’ project such as house
construction), it involves unfamiliarity. This may arise from ever-changing technological, economic,
social, or political factors. Project management must be dynamic and flexible in order to manage
the uncertainties and the risks.

➢ Finally, a project is the process of working to achieve a goal. During the process, the project passes
through several distinct phases which comprise the project lifecycle. The deployment of the three
M’s (men, materials, and money) gradually builds up. Peaks, and phases out as the project nears
completion.
 What is management?

➢ Management is the process of planning, organising, leading, and controlling

the efforts of organisational members, and the use of other organisational
resources, in order to achieve stated organisational goals. The above
definition covers the most important aspects of any field of management, from
first-line supervision to the top management of a multinational corporation, in
any field of endeavour. The activities of a manager can be classified into the
following five basic functions, which have been depicted schematically in
Figure 1.1.
➢ Planning: In this function, the manager must decide what has to be done. It involves setting
organisational goals and establishing means for achieving them, consistent with available resources
and system constraints.
➢ Organising: The manager, as an organiser, decides how the work Will be accomplished. The sub-tasks
involved are the creation of human resources (hiring, training, and assembling people into a formal
organisation), acquisition of capital resources (facilities, materials, capital, and other resources); and
creation of a formal organisational structure that includes policies, procedures, reporting patterns,
and communication channels.
➢ Leadership: In the leadership role, the manager directs and motivates people to attain objectives. The
focus in this function is towards providing both social and technological leadership to improve work
performance and accountability.
➢ Control: Here, the manager evaluates the work performance with respect to pre-set standards of
efficiency and effectiveness and takes necessary corrective actions to minimise deviations from the
planned goals. Effective control requires an information system to collect data and report progress in
terms of costs, schedules, and specifications.
➢ Assessment and Change: The four functions given above, are performed to accomplish organisational
goals. In this fifth function, the manager assesses the above four functions to determine where
change is needed. The change function recognises that organisations are ‘open’ systems and that
goals and activities have to be adapted to changing forces in the internal and external environment.
What is Project Management?
Types of Project Managers:
➢ Project Expeditors : These are individuals who speed up work and achieve unity of
communication. They are the project centres of communication to the general manager. They
are not really managers, but rather serve as translators of technical concepts into business
concepts of costs, schedules, and markets. Because their role is limited to funnelling
information to executives and making suggestions, the expeditor’s role is restricted to smaller
projects with less risks and lower stakes.
➢ Project Coordinators : They act as staff leaders and achieve unity of control over project
activities. Typically, coordinators would have authority to control project matters and
disbursement of funds from the budget, but still have no actual line authority over workers.
The authority is derived primarily through the association of the coordinators with upper level
executives.
➢ Pure Project Managers : These people direct pure project organisations of people who report
directly to them. They achieve unity of command and are primarily integrators and generalists
rather than technical specialists. They must balance technical factors with schedules, costs,
resources, and human factors. The pure project manager would, in the course of a project,
deal with top management, functional managers, vendors, customers, and sub-contractors. In
a large construction project, for example, a pure project manager may be hired by the
developer and delegated the power to take major decisions