What Is a Project?

A project can be simply defined as an endeavor that involves

completing tasks to achieve an objective with a limited set of
resources and a finite timeline.

Based on this definition, it’s clear that most businesses, nonprofits, governments and
other types of organizations execute projects of some sort and therefore, need to
implement a project management process.
Project management focuses
on planning and organizing a
project and its resources.

This includes identifying and

managing the lifecycle to be
used, applying it to the user-
centered design process,
formulating the project team,
and efficiently guiding the team
through all phases until project
completion.
 key objectives of project management:

 Meeting all project goals successfully: To ensure the success of project goals, management
and organization of resources, time, talent and workflows is necessary. Planning and
optimization constitute an essential part of project management.

 Optimizing budget and resources: Project management is an attempt to use the

allocated budget and resources in the most efficient manner. This allows
organizations to save costs, maximize the return and ensure that there are no
leakages in the system.

 Providing guidance and supervision to team members: Project management ensures a

structure of hierarchy and accountability that facilitates guidance and support to all
team members.
 Facilitating communication and collaboration: Seamless communication and collaboration are
integral to the success of any project or team. Project management enables regular meetings,
discussions, feedback sessions, client approvals and exchange of ideas to ensure that everyone is
working towards the same goals with no wastage of time or effort

 Following all safety processes and protocols: Certain projects, like that in food production plants
or at construction sites, may require stringent adherence to strict safety protocols and processes.
Project management accounts for such reviews and safety checks to ensure the quality and safety
of the team members and the end product.

 Reviewing and course-correcting timely: All projects and plans require updates and changes
during the implementation phase. Project management help ensure that there are
assessments, quality checks and reviews throughout the project implementation so that
changes can take place quickly, effectively and without disruption.
 Most project management processes are a part of these five distinct project
life cycle phases:

 Conception and initiation phase

This is the first stage where the idea and concept of the project develops. It usually involves
setting goals, deciding the scope and finalizing the timeline of the project. This process
usually involves internal and external stakeholders aligning expectations and fixing the
success criteria.

 Design and planning phase

This is one of the most important stages of
the entire project. It involves defining
processes, creating budgets, developing a
timeline of individual milestones and
setting safeguards for monitoring and
assessment.
Execution phase
 It is at this stage that the processes and actions begin. These processes are as per the
project plan and design and each team member works on their task to complete their
responsibilities within the deadline. During this phase, the project manager usually
supervises different aspects and functions, like management of timeline, resources,
change, quality and communication.

Monitoring and controlling phase

 A certain time after the execution begins, the team takes steps to review,
monitor and assess progress. Depending on the project goals, quality assurance
tests or client feedback may also be necessary at this stage

Closing and evaluation phase

 Once all the processes and activities are complete, the project ends, and a closing
assessment occurs. This determines the success of the goals, the shortcomings and the
areas of improvement. Evaluating the performance of the project and team members,
alongside discussing the future phases of the project, if any, is the main objective of this
stage.
Here are some steps you can take to select a project:

1. Make sure the project fits the company's strategy

Discuss with all stakeholders whether a project you're considering fits into the
company's overall business strategy. You can work together to identify where
a project may meet a single organizational goal or multiple goals, and whether
they are short-term or long-term goals.

2. Understand your company environment

 What are the company's key business drivers?
 What are the company's strengths and weaknesses?
 Does the company have limited resources?
 If the company has resource limitations, where is it lacking?
3. Consider and analyze
historical data
When you perform your
analysis, consider previous
experiences and refer to past
information or historical data
as much as possible. Regardless
of the outcome of a prior
project, there are
4. Decide who will be the project
environmental and champion
organizational factors that It's important to ensure a project has a
likely influenced the outcome. designed champion or owner to make
sure the project stays on track and
proceeds smoothly and efficiently to
completion.
Thank You…

Presented by,
Aman Chakradhari