Introduction to Project Management

Session Coverage: Principles of Project Management, Classical Theories of Management,

Planning and Organizing.

Introduction to the Principles of Project Management

Smart management is the foundation of successful project execution across diverse

industries and sectors. By adhering to a set of well-established principles, project managers
can effectively navigate the complexities of planning, organizing, and executing projects, just
as an experienced sailor navigates a choppy sea.

What are the principles of project management?

The principles of project management are the fundamental rules that should be followed for
the successful management of projects. Here are the nine principles of project management:

 Establish the project structure

 Invested and engaged project sponsor
 Clear and objective goals and outcomes
 Documented roles and responsibilities
 Strong change management
 Risk management
 Mature value delivery capabilities
 Performance management baseline
 Communication plan

1. Establish the Project Structure

 Projects need to have a formalized structure, including processes, procedures, and tools.
 A project should have a project charter defined by scope, time and investment and a
designated project team to successfully prioritize and manage the project.
 Project teams are made up of individuals who have diverse skills, knowledge, and
experience.
 Project teams that work collaboratively can accomplish a shared objective more
effectively and efficiently than individuals working on their own.
 A well-structured project includes established decision-making processes.
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2. Project Sponsor

 This person oversees the project from a high level.

 They are usually a member of senior management and are responsible for steering the
overall vision.

 He is responsible for creation of overall project vision, making key decisions within the
project, approving budget and changes and taking inventory of project resources.

 The project sponsor will create S.M.A.R.T. goals, resolve conflicts, remove obstacles, and
sign off on any major project components.

3. Goals and Outcomes

 A project goal is a statement that explains the expected outcome of a project.

 Project goals consist of objectives — measurable action items that support the goal's
success.

 The most common factor behind failed projects is a lack of clear goals.

 These must be reviewed and approved by all key stakeholders, including the sponsor and
customer.

 Project requirements and approval criteria should be determined and documented at the
beginning of the project.

4. Management of Project Changes

 Change is a constant in project management.

 It will occur even after we've set our timelines, decided on the scope, and fixed the
budgets.

 Change management in project management relates to how appropriate changes to

project constraints are planned, implemented, monitored, and closed during the lifecycle
of a project.

 These changes usually happen due to pivots in requirements, unexpected challenges, or

evolving business needs.

 Without strong change management, a project could suffer from scope creep and
gradually grow beyond the initial project guidelines.
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5. Risk Management

 Project risk is the potential that a circumstance could arise that alters the outcome of a
project, for better or for worse.
 Project risks affect deliverables, timelines, and budgets. They can lead to a project's
failure if not managed properly.
 It’s important to manage risk to minimize or eliminate its impact on your projects.
 This involves identifying, evaluating, and monitoring risks and deciding upon action plans
to implement if they occur.

6. Roles and Responsibilities

Effective cooperation and project success depends upon team members having a clear
information of their roles and responsibilities.

 Communication Lead: The communication lead is in charge of promoting communication

both inside the project team and with outside stakeholders. They create communication
strategies, project information, remove limitations to communication, and make sure all
parties involved are aware and involved inside the project all time.
 Subject Matter Experts (SMEs): SMEs provide expert information pertinent to project
elements, like technical information, enterprise norms. They provide guidance, insights,
and guarantee that project deliverables adhere to high-quality standards to the team
members.
 Sponsor: A senior-level person serves as the project sponsor, offering resources, support,
and strategic direction. Within the enterprise, they promote the project, get money, cope
with troubles, and guarantee that it is in step with the targets of the enterprise.
 Risk Manager: The risk manager finds, evaluates, and controls dangers that would have
an effect at the final results of the assignment. They create risk control plans, rank
dangers in line with probability and ability impact, and placed mitigation techniques into
practice to lessen damaging outcomes.

 Change Manager: Managing alterations to the project’s requirements, scope, or schedule

falls under the purview of change managers. To guarantee efficient project execution,
they review change requests, determine how they will affect the project, get stakeholder
approval, and notify the project team of any modifications.
 Project Manager: The project manager is in charge of making overall plans, carrying out,
overseeing, and wrapping up of the project.

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7. Value delivery capabilities

 Value in a project is the ratio of the satisfaction of needs (benefits) and the use of
resources (money, people, time, energy and materials.
 Your value delivery capabilities are the project tools, processes, and procedures that help
you deliver value to your customers.
 This can include your project systems, like your scheduling software.
 It may also include your processes, such as using an active project methodology.
 If you have established and tested approaches for delivering successful projects, you'll be
better equipped than if you’re starting from scratch.
 The more mature your processes and procedures are, the more likely your project will be
a success.

8. Performance management baseline

 Projects typically have three basic components: cost, schedule, and scope.
 Each of these components should have a baseline or plan against which performance can
be measured.
 When these baselines are integrated, it’s called a performance management baseline —
then, if you have a change in any one of these components, its impact will be reflected in
the others.

9. Communication

 Project communication management is a crucial aspect of project management as it

ensures all stakeholders are kept informed about the project’s progress, issues, and
changes, thereby facilitating effective decision making and collaboration.
 A project’s success requires communication of project activities, risks, issues, and status,
both within the project team and with other stakeholders.
 Communication is essential for a variety of reasons, including:
o Keeping stakeholders engaged

o Coordinating tasks and schedules

o Decision-making and problem-solving

o Identifying and resolving conflicts

o Escalating risks and issues