Introduction Project Management

In this Topic, we are going to learn about the Introduction to Project Management. As
it’s widely known, Henry Gantt was one of the pioneers of project management
‘Projects’ are tasks that could be part of our routine lives or any business. Projects
could be anything from preparing a meal at home or organizing a vacation tour. And,
if it’s business or work-related, developing a website or software, product or a tool,
construction of a building can be termed as ‘Projects’.

Thus, the project is an endeavor, with a set of temporary tasks implemented to attain
targeted objectives within defined time, scope, resources, and cost. The distinguishing
factor between ‘project management and ‘management’ is that the latter is an ongoing
process while the former has a definite span of time and deliverable. In simpler terms,
‘Project Management is a process which requires the application of knowledge, skills,
and expertise, tools and techniques as well as deliverables to make the project a
success so as to attain the desired objectives/goals.

Need/imp of pm
 Increases transparency and communication amongst the project teams.
 Helps steer projects in the right direction via proper leadership.
 Allows risk mitigation during project execution.
 Sets realistic goals for the company.
 Ensures customer satisfaction.
 Allows strategic monitoring of the project.
 Promotes a happier work environment.
 Enables the company to save time and money.

Characteristics of a Project :  

Projects are not homogeneous. Each project is different in itself. The distinctive
characteristics of a project are as follows.

1. Objectives –
Every project is started with some objective or goal viz. time, budget, quality,
and quantity, when objectives are fulfilled project cause existing. You can
initially define the objectives of the project what actually need to achieve.
Objectives are the key characteristics of the project where you will see the
progress of the project and time to time analysis will show you the result of how

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 much you have achieved. 
 
2. Single entity –
A project is one whole thing. This means that in a project although different
people contribute still is recognized as a single entity. The teams are often
specifically assembled for a single project.
 
3. Life Span –
No project can be ceaseless and indefinite. It must have one and beyond which it
cannot proceed. Every project is invariably time-bound. At the time of planning,
you will see the time phase of the project where the team can work independently
on the project modules. Let’s consider an example project that is divided into
three modules let’s say A, B, and C. If the total time span of a project is 5 months
then you can set the time span for modules independently like A can complete in
2 months and also B can complete in 2 months and C can complete in 1 month as
per requirement.    
  
4. Require funds –
Every project needs funds to reach the endpoint. Without adequate funds, no
project can be successfully implemented. Cost estimation is one of the essential
factors for any organization. So, calculating in advance the required funds for the
project will be very impactful. 
 
5. Life Cycle –
Each project has a life cycle with different stages like start, growth, maturity, and
decay. A project has to pass through different stages to get itself completed. Let’s
consider an example where the project is related to software development then
you can say SDLC (Software Development lifecycle) will be the life cycle of the
project where you will see many stages like planning, defining, designing,
building, testing, and deployment, etc.
 
6. Team Spirit –
Team spirit is required to get the project completed because the project
constitutes different members having different characteristics and from various
disciplines. But to achieve common goal harmony, missionary zeal, team spirit is
necessary.
 
7. Risk and Uncertainty –
The project is generally based on forecasting. So risk and uncertainty are always
associated with projects. There will be a high degree of risk in those project
which are not properly defined. Only the degree of control over risk and
uncertainty varies with the project being conceived based on information
available.
 
8. Directions –
Project is always performed according to the directions given by the customers
with regard to time, quality and quantity, etc. The convenience of the supply
sides of economics such as labor availability ore resources and managerial talent
etc. are all secondary concerns, primary being the customer requirement.
 

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9. Uniqueness –
Each project is unique in itself, and it’s having own features. No two projects are
similar even if the type of organization is the same. The uniqueness of the project
can measure by considering the many factors like objectives, features of the
project, application of the project, etc.  
 
10. Flexibility –
Change and project are synonymous. A project sees many changes throughout its
life span. These changes can make projects more dynamic and flexible.  
 
11. Sub-Contracting –
Sub-contracting is a subset of every project and without which no project can be
completed unless it is a proprietary firm or tiny in nature. The more complexity
of a project the more will be the extent of contracting. Every project needs the
help of an outsider consultant, engineer, or expert in that field.
 
12. Cost –
If the quality of the project is to be changed there could be an impact on the cost
of the project. The cost could increase if more resources are required to complete
the project quicker.

Problem of PM
1. Scope creep
Clients who don’t precisely know what they want and have vague requirements are
one of the biggest project management challenges for both managers and the project
team.
How to deal with it:
Proactively engaging with clients during the project planning phase can help you get
their exact requirements as well as understand their expectations. Additionally,
planning your resource and talent usage accurately is also key. It’s also important to
not take up ad-hoc change requests during project execution as this can result in delays
and added costs. Stick to the initial plan.

2. Lack of communication

Effective communication in project management is extremely important for a

successful project. You need to have timely and transparent methods of
communication to ensure that all stakeholders are involved in the process. Deloitte
states that 32 percent of professionals believe that communication is the biggest issue
of project management.
Miscommunication is also dangerous for project teams because it affects their
teamwork. It can cause conflicts among team members and can potentially delay the
project.
How to deal with it:
Project managers often rely on various collaborative and project management
software available in the market in order to ensure that everyone stays updated. Project
collaboration tools not only make it easier for managers to carry on their duties but
also ensure greater transparency in projects and accountability within the team. This is
achieved through features such as contextual comments, @mentions, and priority
assignment capabilities.

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Additionally, regular, short stand-up meetings a few times weekly can go a long way
in preventing miscommunication.

3. Lack of clear goals and success criteria

Clarity is one of the most important requirements for the successful completion of the
project and the lack of it creates several project management issues. A study states that
about 39% of projects fail due to the lack of a project plan and a clearly defined project
goal.
It is also important for a project manager to come up with a way of quantifying project
progress by setting up project milestones and quality tests. In addition to helping your
team progress, having a clear set of objectives will also help project managers defend
their vision in front of the upper management and the customers.
How to deal with it:
Popular approaches to goal setting like SMART and CLEAR can help a project
manager come up with a set of effective goals right from the start of a project. This can
help overcome the barriers of project management. Additionally, one must keep in
mind that not clearly defining goals is a mistake. Therefore, once you create goals for
your project team, make them obvious to teammates. Document them.

4. Budgeting issues
Most managers consider financial issues as one of the biggest hurdles in effective
project management. A study in 2017 revealed that 49.5 % of manufacturing managers
report costs as the biggest project management challenge they face. By efficient cost
management, a manager can avoid various common complications a project may face
and strive for better and quicker results.
How to deal with it:
It is absolutely necessary to adopt a proper project scheduling tool, budgeting
procedure and make realistic assumptions to avoid cost overruns. Planning the project
scope must be done keeping in mind the budget in hand. Else, budget limitations could
threaten the very success of a poorly budgeted project. Like everywhere else in project
management, documenting is key.

5. Inadequate skills of team members

A chain is as strong as its weakest link and in the case of project teams, performance
highly depends on their individual skill levels. As a project manager, you can create
the most ideal environment but if the team does not possess the necessary skills to
tackle the problem at hand, your project is bound to fail. This is a huge project
management problem that can only be solved with proper experience and foresight.
How to deal with it:
Effective project managers pre-determine the needed project management skills and
competencies and assess the available workforce to determine whether t additional
staff and skillsets are required or not.
An effective project initiation plan will deal with the needs of the project and the
resources required to accomplish it. These resources include the human skill
component as well. The project plan will further build upon the groundwork of the
initiation document.

6. Inadequate risk management

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Having the foresight to identify potential ‘what if’ scenarios and making up
contingency plans is an important aspect of project management. Projects rarely go
exactly as planned because there are so many variables that can create unlimited
possibilities.
How to deal with it:
It is the job of every project manager to come up with alternate plans that the team
may adopt if the project begins to spiral out of control. Having a project risk
management system helps in identifying the types of risks and mitigating them.
Having a contingency plan in place is critical. This plan should identify all risks that
the course of action to be taken if they materialize it.

7. Lack of accountability
A project team performs really well when every member feels responsible and tries to
fulfill the role assigned to them. Lack of accountability on the part of team members
can sink an entire project.
How to deal with it:
Effective project managers assign responsibilities to team members and direct the team
toward the common goal of successfully completing their project. Having a project
tool that allows responsibilities to be assigned and tracked is key to fostering
accountability. Additionally, having regular check-ins within the team also fosters
accountability.

8. The limited engagement of stakeholders

It is important for project managers to ensure that all the project stakeholders are on
the same page and have a clear vision of the project. An uninvolved client can cause a
lot of problems in the final stages of a project so it’s important to consider the
customer’s feedback and keep them updated throughout the project.
How to deal with it:
Invite your client and other stakeholders to your project management tool so they can
actively participate in shaping the project and providing feedback. Further, ensure that
you keep all internal and external stakeholders in the loop right from the project
planning stage. Schedule regular meetings with all stakeholders and address their
concerns as required.

9. Unrealistic deadlines
Having an impossible deadline is another project management challenge that can
severely affect the quality of the end product. Any effective project manager knows
the capability of the project team and negotiates the project timeline by prioritizing
deadlines and project tasks.
How to deal with it:
In agile project management, velocity, which is the measure of work completed in a
single sprint, is decided collectively by taking inputs from all stakeholders. This is
done during the planning phase of the project. Further, frequent monitoring of
deadlines by the project manager is a must.
This ensures that any increase in scope (scope creep) during the execution of the
project is either avoided or timelines modified as required.