What is Project Management?
1. What is Project Management?
Definition: Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
Key Characteristics of a Project:
Temporary: Has a defined beginning and end.
Unique: Creates a unique product, service, or result.
Goal-Oriented: Aimed at achieving specific objectives.
Example: Installing an HVAC system for a new building.
The Role of a Project Manager?
2. The Role of a Project Manager
Primary Responsibilities:
Planning, executing, and closing projects.
Managing the project team and stakeholders.
Balancing scope, time, cost, and quality.
Essential Skills:
Communication
Leadership
Problem-solving
Time management
Risk management
5 Phases of Project Management
Key Project Management Concepts
Tools & Techniques in Project Management
Common Challenges in PM
Benefits of Effective PM
3. The Five Phases of Project Management (PMI Framework)
1. Initiation:
Define the project and its objectives.
Identify stakeholders and key deliverables.
Develop a project charter.
2. Planning:
Create a project management plan covering:
Scope, schedule, and cost
Quality standards
Risk management strategies
Communication protocols
Set baselines for tracking progress.
3. Execution:
Coordinate people and resources to carry out the project plan.
Manage communications and stakeholder expectations.
Monitor project performance to ensure it aligns with the plan.
4. Monitoring and Controlling:
Track project performance metrics.
Manage changes to the project scope, schedule, or cost.
Ensure quality standards are met.
5. Closing:
Finalize all project activities.
Obtain stakeholder approval for deliverables.
Conduct a post-project evaluation.
4. Key Project Management Concepts
A. The Triple Constraint (Iron Triangle):
Scope: What is to be accomplished.
Time: The project’s schedule.
Cost: The project’s budget.
Balancing Act: Changes in one constraint impact the others.
B. Stakeholder Management:
Definition: Identifying, analyzing, and engaging individuals or groups affected by the project.
Key Steps:
Identify stakeholders.
Determine their influence and interest.
Develop a communication plan.
C. Risk Management:
Definition: The process of identifying, analyzing, and responding to project risks.
Steps:
Identify potential risks.
Assess their likelihood and impact.
Develop mitigation and contingency plans.
5. Tools and Techniques in Project Management
A. Gantt Charts:
Visual representation of the project schedule.
Tracks tasks, durations, and dependencies.
B. Work Breakdown Structure (WBS):
Hierarchical decomposition of project tasks.
Ensures all deliverables are accounted for.
C. Critical Path Method (CPM):
Identifies the longest sequence of tasks in a project.
Determines the minimum project duration.
D. Project Management Software:
Examples: Microsoft Project, Asana, Trello.
Helps manage schedules, resources, and collaboration.
6. Common Challenges in Project Management
Scope Creep: Uncontrolled changes or continuous growth in project scope.
Resource Constraints: Limited availability of personnel, budget, or tools.
Communication Issues: Misunderstandings among stakeholders or team members.
Risk Management: Failure to identify and mitigate potential risks.
Time Pressures: Unrealistic deadlines leading to rushed deliverables.
Tips to Overcome Challenges:
Clearly define project objectives and deliverables.
Regularly communicate with stakeholders.
Monitor project progress against baselines.
Foster a collaborative team environment.
7. Benefits of Effective Project Management
Ensures projects are delivered on time and within budget.
Enhances team coordination and communication.
Improves stakeholder satisfaction.
Reduces risks and maximizes resource efficiency.