PROJECT MANAGEMENT What is Project Management?

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project management is accomplished through the appropriate application and integration of a number of logically grouped project management processes comprising the 5 phases. These 5 phases are: Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Understanding the Project Management Triple Constraint

All projects are carried out under constraints - traditionally cost, time and scope. These three important factors, commonly called the triple constraint, are often represented as a triangle. More recently the triangle has given way to a project management diamond, with cost, time, scope and quality the four vertices with customer expectations as a central theme. Each constraint forms the vertices with quality added as a central theme. Projects must be delivered within cost. Projects must be delivered on time. Projects must meet agreed scope, no more - no less. Projects must also meet customer quality requirements. More recently the triangle has given way to a project management diamond, with cost, time, scope and quality the four vertices with customer expectations as a central theme (see Figure 2). No two customer expectations are the same so you must ask what their expectations are.

Managing a project typically includes: Identifying requirements, Addressing the various needs, concerns, and expectations of the stakeholders as the project is planned and carried out, Balancing the competing project constraints including, but not limited to: Scope, Quality, Schedule, Budget, Resources, and Risk.

The relationship among these factors is such that if any one factor changes, at least one other factor is likely to be affected. For example, if the schedule is shortened, often the budget needs to be increased to add additional resources to complete the same amount of work in less time. If a budget increase is not possible,the scope or quality may be reduced to deliver a product in less time for the same budget. Project stakeholders may have differing ideas as to which factors are the most important, creating an even greater challenge. Changing the project requirements may create additional risks. The project team must be able to assess the situation and balance the demands in order to deliver a successful project.

During a software development project your customer increases the scope. They ask to add new features to the software after hearing about a competitors' product that will be in direct competition with theirs. It is important the product has the new features if it is to compete successfully.
Impact: The budget and schedule increase as a result pushing out the final delivery date. More people are added to the project to minimise disruption to the schedule increasing the projects' overall cost. The most important constraint in this case is the scope (the features of the product).

Phases Of Project management:

Initiation Planning Execution Monitoring & Control Closure

Processes Of Project management:

Scope Quality Schedule Budget/Resources Risk

PHASES OF P ROJECT MANAGEMENT Initiation

The initiation of a project involves determining its requirements to some degree of detail, outlining candidate solution approaches and an assessment of whether or not to proceed with the project. Develop Project Charter: Document that formally authorizes a project or a phase and documenting initial requirements that satisfies the stakeholders needs and expectation.

Identify Stakeholders: Identifying all people impacted by the project and documenting relevant information regarding their interest, involvement & impact on project succes.

Planning
A process of documenting the actions necessary to define,prepare,integrate & coordinate all subisdiary plans. Its is the primary source of information for how the project will be planned,executed,monitored & controlled & closed.

Develop Project Management Plan Collect requirements. Define Scope. Create Work Breakdown Structure. Define activities. Develop Schedule. Determine Budget / Estimate Cost. Plan Quality. Human resource plan. Plan risk management.

Execution
The Executing Process Group consist of those processes performed to complete the work defined in the project management plan to satisfy the project specifications. This Process Group involves coordinating people and resources, as well as integrating and performing the activities of the project in accordance with the project management plan

Manage project Execution. Perform Quality assurance. Acquire/Manage project team. Distribute information. Manage stakeholder expectation.

Monitoring & Controlling

The Monitoring and Controlling Process Group consists of those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.

Monitor and Control Project Work. Verify Scope. Control Scope. Control Schedule. Control Cost. Report Performance. Monitor & control risks.

Closure
The Closing Process Group consists of those processes performed to fi nalize all activities across all Project Management Process Groups to formally complete the project, phase, or contractual obligations. This Process Group, when completed, verifi es that the defi ned processes are completed within all the Process Groups to close the project or a project phase, as appropriate, and formally establishes that the project or project phase is complete.

Close Project or Phase.

PROCESSES OF PROJECT MANAGEMENT Project Scope Management:

Project Scope Management includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully. Managing the project scope is primarily concerned with defining and controlling what is and is not included in the project. It has the following processes :
1 Collect RequirementsThe process of defining and documenting stakeholders needs to meet the project objectives. 2 Define ScopeThe process of developing a detailed description of the project and product. 3 Create WBSThe process of subdividing project deliverables and project work into smaller, more manageable components. 4 Verify ScopeThe process of formalizing acceptance of the completed project deliverables. 5 Control ScopeThe process of monitoring the status of the project and product scope and managing changes to the scope baseline.

Project Quality Management:

Project Quality Management includes the processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken. It implements the quality management system through policy and procedures with continuous process improvement activities conducted throughout, as appropriate. It has the following processes :
1 Plan QualityThe process of identifying quality requirements and/or standards for the project and product, and documenting how the project will demonstrate compliance. 2 Perform Quality AssuranceThe process of auditing the quality requirements and the results from quality control measurements to ensure appropriate quality standards and operational definitions are used. 3 Perform Quality ControlThe process of monitoring and recording results of executing the quality activities to assess performance and recommend necessary changes.

Project Time Management:

Project Time Management includes the processes required to manage timely completion of the project. It has the following processes :
1 Define ActivitiesThe process of identifying the specific actions to be performed to produce the project deliverables. 2 Sequence ActivitiesThe process of identifying and documenting relationships among the project activities. 3 Estimate Activity ResourcesThe process of estimating the type and quantities of material,people, equipment, or supplies required to perform each activity. 4 Estimate Activity DurationsThe process of approximating the number of work periods needed to complete individual activities with estimated resources. 5 Develop ScheduleThe process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule. 6 Control ScheduleThe process of monitoring the status of the project to update project progress and managing changes to the schedule baseline.

Project Cost Management:

Project Cost Management includes the processes involved in estimating, budgeting, and controlling costs so that the project can be completed within the approved budget. It has the following processes :

1 Estimate CostsThe process of developing an approximation of the monetary resources needed to complete project activities. 2 Determine BudgetThe process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. 3 Control CostsThe process of monitoring the status of the project to update the project budget and managing changes to the cost baseline.

Project Human Resource Management:

Project Human Resource Management includes the processes that organize, manage, and lead the project team. The project team is comprised of the people with assigned roles and responsibilities for completing the project. The type and number of project team members can change frequently as the project progresses. Project team members may also be referred to as the projects staff. While the specific roles and responsibilities for the project team members are assigned, the involvement of all team members in project planning and decision making can be beneficial. Early involvement and participation of team members adds their expertise during the planning process and strengthens their commitment to the project. It has the following processes :
1 Develop Human Resource PlanThe process of identifying and documenting project roles, responsibilities, and required skills, reporting relationships, and creating a staffing management plan. 2 Acquire Project TeamThe process of confirming human resource availability and obtaining the team necessary to complete project assignments. 3 Develop Project TeamThe process of improving the competencies, team interaction, and the overall team environment to enhance project performance. 4 Manage Project TeamThe process of tracking team member performance, providing feedback, resolving issues, and managing changes to optimize project performance.

Project Risk Management:

Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and monitoring and control on a project. The objectives of Project Risk Management are to increase the probability and impact of positive events, and decrease the probability and impact of negative events in the project. It has the following processes :
1 Plan Risk ManagementThe process of defining how to conduct risk management activities for a project. 2 Identify RisksThe process of determining which risks may affect the project and documenting their characteristics. 3 Perform Qualitative Risk AnalysisThe process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact. 4 Perform Quantitative Risk AnalysisThe process of numerically analyzing the effect of identified risks on overall project objectives. 5 Plan Risk ResponsesThe process of developing options and actions to enhance opportunities and to reduce threats to project objectives. 6 Monitor and Control RisksThe process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project.