Project: Meaning

A Project is a group of unique, interrelated activities that are planned and executed in a certain sequence to create a unique product and/or service, within a specific time frame, budget and client s specification. A temporary endeavor undertaken to create a unique product or service.-PMI A unique set of coordinated activities, with definite starting and finishing points, under taken by an individual or organization to meet specific objectives within defined schedule, cost and performance parameters. The British Standards 1996 A Project is an endeavor to accomplish a specific objective through a unique set of interrelated tasks and effective utilization of resources.

Characteristics of Project
         

Well defined objective and usually one time endeavour Utilization of various resources to carry out the tasks Unique activities Attainment of specific goal Sequence of activities Specified time cost and design Interrelated activities Definite starting and finishing time Planned and blue-printed execution Example: Admin project, Construction Project, Software dev. Project Design project, Equipment and system installation project, New product deve.project, maintenance project, research project.

Classification of projects
Base charecteristics for classification Time Span Class -1 Class -2 Class 3 Class -4

18 Betwee Months n or more 918mont h High High Break Throug h 100% (sure)

Betwee n 39mont h

Less than 3 Months Very Low Very Low Practica l No risk

Level of Risk Level of complexity Technology

Medium Low Medium Low Contem por-ary 50% (Likely) Best

Probability of problem

10% (Low)

Project Management


Project management is a system of procedures, practices, technologies and know how that enables the planning, organizing, staffing, directing, and controlling necessary to successfully manage a project. Project management is the application of knowledge, skill, tools and techniques to project activities in order to meet or exceed stackholder needs and expectations. PMI Project management is a carefully planned and organized effort to accomplish a specific (and usually) one time effort, for example, constructing a residential complex or implementation of a new computerized banking system

Importance of the P.M., Gaining



The ultimate advantage of implementing project management techniques is having a satisfied customer. Completing the full project scope in a quality manner, on time, and within budget provides a great feeling of satisfaction. For the Contractor it could lead to an additional business from the same customer in future or to business form new customer referred by the satisfied customer. Being a project manager, you have the satisfaction of knowing you led a successful project effort. You also have enhanced your reputation as a project manager and positioned yourself for expanded career opportunities. If you are a member of project team that successfully accomplished a project, you feel the satisfaction of being a winning team. If you are interested in eventually managing projects you will be In a position to take an additional project opportunities. Because When project is successful everybody wins

Project phases
Organization generally divide a project in to various project phases to help management have better control over the project and to coordinate the project activities with those of the organization. All the project put together comprise the project life cycle.
CONCEPT State the Problem Identify proj. goals List the objectives Determine preliminary resources Identify risks, assumptions PLAN Identify Proj. act Estimate time & cost Sequence proj. act. Identify critical act. Write proj. proposal ORGANISE Determine personal needs Recruit proj. Manager Recruit proj. Team Organize proj. team Assign work packages CONTROL Define Mgmt style Establish Control tools Prepare status report Review proj. schedule Issue change orders CLOSE Obtain client consent Install deliverable Document the proj. Issue the Final proj. Conduct post Implementati on audit

Project deliverables.
INITIAT E

PLAN

ORGANIZE

CONTROL CLOSE Final report Audit repot

WBS Project overview ProjectNW Critical path Project proposal

Recruitmen Variance t report criteria Status report Work package Staff description allocation report
Work package assignment

Project life cycle



The project life cycle is a collection of generally sequential project phases. The No. of project phases are determined by the control needs of the project organization. The project life cycle represent the linear progression of a project, from defining the project, through developing a plan, implementing the plan and closing the project.