UKAI 2063

Accounting
Information Systems II
Lecture 3
Systems Planning

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 Lecture 3 Outline
Introduction to project management

Project Management Body of Knowledge

(PMBOK)

Successful project management: scope, time, cost

and quality

Project life cycle

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Introduction to project
management

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Generally, work can be categorized as either
projects or operations.

Projects and operations differ primarily in

that operations are ongoing and
repetitive, while projects are
temporary and unique.

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Projects or operations, they share many of the
following characteristics:
■Performed by people.

■Constrained by limited resources.

■Planned, executed, and controlled.

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Project – a definition
A project is a temporary endeavor undertaken to create a
unique product, service, or result (PMI’s PMBOK, 2004).

Projects are undertaken at all levels of the organization and

they can involve a single person or many thousands. Their
duration ranges from a few weeks to several years.
Projects can involve one or many organizational units, such
as joint ventures and partnerships.

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In managing a project, we are:
■Identifying requirements.

■Establishing clear and achievable objectives.

■Balancing the competing demands for quality, scope, time

and cost.

■Adapting the specifications, plans, and approach to the

different concerns and expectations of the various
stakeholders.

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Some project examples – big or small
■Designing and constructing a building.

■Designing and testing a new prototype.

■Implementing a new computer system.

■Improving productivity within a target period.

■Moving house or going on holiday.

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Project management – a definition
Project management is the application of knowledge, skills,
tools and techniques to project activities to meet project
requirements. Project management is accomplished through the
application and integration of the project management
processes of initiating, planning, executing,
monitoring and controlling, and closing. The project
manager is the person responsible for accomplishing the
project objectives.

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Project management associations
■Association of Project Management (UK)

■Project Management Institute (USA)

■International Association of Project Management

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Project Management Body of
Knowledge (PMBOK)

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Project Management Body of Knowledge
(PMBOK)
■The Project Management Institute (PMI) creates the Guide to
the Project Management Body of Knowledge (PMBOK) as a
framework and starting point for understanding project
management.

■It includes an introduction to project management, brief

descriptions of all nine project management knowledge areas.

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 Successful project
management: scope, time,
cost and quality

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Four core elements to meet deliverable objectives

■Scope
■Time
■Cost
■Quality

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Scope Management
The processes required to ensure that the project includes all
the work required, and only the work required, to complete
the project successfully. Project scope management is
primarily concerned with defining and controlling what is
and is not included in the project.

Time Management
The processes required to accomplish timely
completion of the project.

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Cost Management
The processes involved in planning, estimating,
budgeting, and controlling costs so that the project can be
completed within the approved budget.

Quality Management
The 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.

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Project life cycle

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Why project life cycle exists?
Because projects are unique and involve a certain degree of
risk, companies performing projects will generally subdivide
their projects into several project phases to provide better
management control. Collectively these project phases are
called the project life cycle.

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Project life cycles generally define:

What technical work to do in each phase?

When the deliverables are to be generated in each phase

and how each deliverable is reviewed, verified, and
validated?

Who is involved in each phase?

How to control and approve each phase?

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Common characteristics - project life cycles
Phases are generally sequential and are usually defined by
some form of technical information transfer or technical
component handoff.

Cost and staffing levels are low at the start, peak during
the intermediate phases, and drop rapidly as the project draws to
a conclusion.

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The level of uncertainty is highest and, hence, risk of failing
to achieve the objectives is greatest at the start of the project. The
certainty of completion generally gets progressively better as the
project continues.

The ability of the stakeholders to influence the final

characteristics of the project’s product and the final cost of the
project is highest at the start, and gets progressively lower as the
project continues.

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 Acknowledgements
This PowerPoint presentation contains
materials complied from various sources.
Credits are hereby given to their respective
owners. Please refer to the reading list for
details.

Reminder
The lecture slides serve only as a quick
learning guide. Students are required to refer
to the main textbook for detailed elaboration.

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