 A project is temporary in that it has a defined

beginning and end in time, and therefore defined

scope and resources.
 And a project is unique in that it is not a routine
operation, but a specific set of operations designed
to accomplish a singular goal.
PROJECT MANAGEMENT
is the application of knowledge, skills, tools,
and techniques to project activities to meet
the project requirements.
 The Project Life Cycle refers to the four-step
process that is followed by nearly all project
managers when moving through stages of project
completion.
 The Project Life Cycle provides a framework for
managing any type of project within a business.
 The Project Life Cycle is the standard process by
which teams achieve project success.
 improve your chances of achieving the desired result
 gain a fresh perspective on your project, and how it fits with your business strategy
 prioritise your business’ resources and ensure their efficient use
 set the scope, schedule and budget accurately from the start
 stay on schedule and keep costs and resources to budget
 improve productivity and quality of work
 encourage consistent communications amongst staff, suppliers and clients
 satisfy the various needs of the project’s stakeholders
 mitigate risks of a project failing
 increase customer satisfaction
 gain a competitive advantage and boost your bottom line
 4 phases of the project management life cycle. The
project management life cycle is usually broken
down into four phases: initiation, planning,
execution, and closure—these make up the path
that takes your project from the beginning to the
end. Some methodologies also include a fifth phase,
controlling or monitoring.
 Initiation is the first phase of the project lifecycle. This is where the project’s value
and feasibility are measured. Project managers typically use two evaluation tools to
decide whether or not to pursue a project:
Business Case Document – This document justifies the need for the
project, and it includes an estimate of potential financial benefits.
Feasibility Study – This is an evaluation of the project’s goals, timeline and
costs to determine if the project should be executed. It balances the requirements
of the project with available resources to see if pursuing the project makes sense.
 A well-written project plan gives guidance for
obtaining resources, acquiring financing and
procuring required materials. The project plan
gives the team direction for producing quality
outputs, handling risk, creating acceptance,
communicating benefits to stakeholders and
managing suppliers.
 This is the phase that is most commonly associated
with project management. Execution is all about
building deliverables that satisfy the customer.
Team leaders make this happen by allocating
resources and keeping team members focused on
their assigned tasks.
 The Monitoring and Controlling process oversees
all the tasks and metrics necessary to ensure that
the approved and authorized project is within
scope, on time, and on budget so that the project
proceeds with minimal risk. Monitoring and
Controlling process is continuously performed
throughout the life of the project.
 Once your team has completed work on a project,
you enter the closure phase. In the closure phase,
you provide final deliverables, release project
resources, and determine the success of the project.
Just because the major project work is over, that
doesn’t mean the project manager’s job is done—
there are still important things to do, including
evaluating what did and did not work with the
project.
A portfolio is simply a generic term used for a
grouping of things. Depending on the context
and industry, it can be a collection of assets,
products, investments, or other items. A
portfolio in project management refers to a
grouping of projects, and programs.
 Portfolio management is the art and science of
making decisions about investment mix and policy,
matching investments to objectives, asset allocation
for individuals and institutions, and balancing risk
against performance.
 A program is a collection of projects that are
managed as a group in order to achieve efficiencies
of scale. Just as project management involves the
coordination of individual tasks, program
management is the coordination of related projects
that are grouped together.
 Programme management is the overall management of the
interrelated projects that make up the programme. It also
involves linking in with the business change functions
within the business areas affected to ensure that the
changes are properly implemented. As with project
management, planning work and tasks is a key part of
programme management, but the work is more closely
aligned to the organization’s ongoing strategy, rather than
specific deliverables.
Project Program Portfolio
A temporary A group of Portfolio is a
endeavor related projects
managed in collection of
undertaken to projects
create a unique a coordinated
product, service,
way to obtain programs and
benefits not operational
or result. available from
managing work.
the projects indi
vidually.
 Project teams are multi-disciplinary, team members are
bought together from different departments and may
include experts from external companies or suppliers.
 The project team are responsible for completing the
project (doing the work) according to the project schedule.
 Having the right skills within the project team is crucial to
project success, and the membership of the project team
may change as different skills are required for certain
phases and deliverables.
 Communication - Project managers spend most of their time communicating with
staff, reporting progress or problems to clients, or negotiating with vendors. Verbal
and written communication skills are keys to success.
 Leadership - The ability to lead and motivate a team is critical to progressing any
project. Project managers need to resolve personality conflicts and boost team
spirit while also guarding against late or sloppy work.
 Management - To work effectively, managing people is essential. From delegating
work to holding individuals accountable, it's a project manager's responsibility to
set goals, evaluate performance, and encourage collaboration.
 Negotiation - Project managers will negotiate with clients on an appropriate
schedule and scope of work. They will bargain for certain resources and
manpower. Knowing how to negotiate to get what they need to succeed and keep
everyone involved satisfied is a skill developed and improved through experience.
 Organization - Project managers are unlikely to be successful if they are sloppy or
forgetful. Because they are juggling so many different aspects, they need to be
organized in both their professional and personal lives.
 Problem Solving - Issues that need attention regularly come up for project
managers, and it's their duty to predict potential problems in advance and
brainstorm solutions in case these issues arise.
 Budgeting - All projects are going to have a fixed amount of funding available to
them. It's a project manager's responsibility to develop a budget for that money
and make sure it is being followed closely. This is a skill that requires experience.
 Project Manager
Project managers make sure that projects are given sufficient resources, while managing
relationships with contributors and stakeholders.

Project manager duties:

 Develop a project plan
 Manage deliverables according to the plan
 Recruit project staff
 Lead and manage the project team
 Determine the methodology used on the project
 Establish a project schedule and determine each phase
 Assign tasks to project team members
 Provide regular updates to upper management
 Project Team Member
Project team members are the individuals who actively work on one or more
phases of the project. They may be in-house staff or external consultants, working on
the project on a full-time or part-time basis.
Project team member duties may include:
 Contributing to overall project objectives
 Completing individual deliverables
 Providing expertise
 Working with users to establish and meet business needs
 Documenting the process
 Project Sponsor
The project sponsor is the driver and in-house champion of the project. They
are typically members of senior management – those with a stake in the project’s
outcome.
Project sponsor duties:
 Make key business decisions for the project
 Approve the project budget
 Ensure availability of resources
 Communicate the project’s goals througout the organization
 Executive Sponsor
The executive sponsor is ideally a high-ranking member of management. He
or she is the visible champion of the project with the management team and is the
ultimate decision-maker, with final approval on all phases, deliverables and scope
changes.
Executive sponsor duties typically include:
 Carry ultimate responsibility for the project
 Approve all changes to the project scope
 Provide additional funds for scope changes
 Approve project deliverables
 Business Analyst
When part of a project team, they ensure that the project’s objectives solve
existing problems or enhance performance, and add value to the organization. They
can also help maximize the value of the project deliverables.
Business analyst duties:
 Assist in defining the project
 Gather requirements from business units or users
 Document technical and business requirements
 Verify that project deliverables meet the requirements
 Test solutions to validate objectives
 Stakeholders are those with any interest in your project's
outcome. They are typically the members of a project team,
project managers, executives, project sponsors, customers,
and users.
 Stakeholders are people who are invested in the project and
who will be affected by your project at any point along the
way, and their input can directly impact the outcome. It's a
good idea to practice good stakeholder management and
constantly communicate with them in order to collaborate on
the project.
The typical key project stakeholders you'll find in any
project will include some of the following:
 Customers
 Project manager
 Project team members
 Project sponsor
 Steering committee
 Executives
 Resource managers
Understanding the costs and limits of the proposed budget
for a project are vital for any project manager. The costs of
a project can be altered by many factors, such as:
 Suppliers increasing prices
 Foreign exchange fluctuations for international projects
 A broadened project scope requiring additional
deliverables
 Staff changes that incur recruitment costs
 Costs for implementing new technologies
 Each task that makes up a project takes a set amount of time. By
adding these together, including the inter-related or dependent task
strands, a project manager can establish a project timeline, which will
estimate when certain milestones will be reached and specific
deliverables handed over. While sticking to the predetermined
schedule that has been signed off on is recommended for any PM,
circumstances often mean that this has to be altered. Reasons for this
can be:
 Client requesting additional deliverables
 Delays in supply from vendors
 Technology problems (i.e. viruses, server breakdowns)
 Underestimation of task duration
 The scope of a project is an integral element of the
Project Management Triangle as it refers to the final
result that is due to be delivered. It is important for
project managers to be able to balance the scope of
a project in terms of time and cost, by giving
accurate predictions so that clients and other
stakeholders understand how changes to scope will
affect the other elements and similarly how
adjustments to the budget or deadline will put
pressure on achieving the desired scope.
 A project charter is a formal, typically short
document that describes your project in its entirety
including what the objectives are, how it will be
carried out, and who the stakeholders are. It is a
crucial ingredient in planning out
theproject because it is used throughout
the project lifecycle.
A project charter is a formal, typically short
document that describes your project in its
entirety including what the objectives are,
how it will be carried out, and who the
stakeholders are. It is a crucial ingredient in
planning out the project because it is used
throughout the project lifecycle.
 The project charter typically documents:

 Reasons for the project

 Objectives and constraints of the project
 Who the main stakeholders are
 Risks identified
 Benefits of the project
 General overview of the budget
 Understand project goals and objectives. Identify the project
vision and determine the scope of the project
 Define project organization. List all of the essential roles for
the project, including customers, stakeholders, and day-to-day
project team.
 Create an implementation plan. Outline major milestones,
dependencies and timeline for the entire team and
stakeholders.
 List potential problem areas. No one wants to be a downer, but
adding potential risks and issues to the project charter helps
everyone think ahead should the worst happen.
 Project charter- It provides a preliminary delineation of roles and
responsibilities, outlines the project objectives, identifies the main
stakeholders, and defines the authority of the project manager. It serves
as a reference of authority for the future of theproject.