Subject: Project Management

Department of Management
Created By: Dr. Kanishka Sethi

Jagannath International Management School

Vasant Kunj, New Delhi - 110070
(Affiliated to Guru Gobind Singh Indraprastha University, New Delhi)
Recognized u/s 2(f) by UGC & Accredited with ‘A+’ Grade by NAAC
Participant of UNGC & UNPRME, New York
ISO 9001:2015 Quality Certified
Programme : BBA
Semester : VI
Subject Code : BBA-302
Subject : Project Management
Topic : Overview of Project Management
 Definition
• A project is an endeavor to accomplish a specific objective through a unique
set of interrelated tasks and the effective utilization of resources.
• It has a well-defined objective stated in terms of scope, schedule, and costs.
• Projects are “born” when a need is identified by the customer – the people or
organization willing to provide funds to have the need satisfied.
• It is the people (project manager and project team), not the procedures and
techniques, that are critical to accomplishing the project objective.
• Procedures and techniques are merely tools to help the people do their jobs.
Examples of Projects

• Planning a wedding.
• Designing and implementing a computer system.
• Hosting a holiday party.
• Designing and producing a brochure.
• Executing an environmental clean-up of a contaminated site.
• Holding a high school reunion.
• Performing a series of surgeries on an accident victim.
 Definition- Project Management
• A Project Management aims at successful development of project’s procedures of
initiation, planning, execution, regulation and closure as well as guidance of the
project team’s operations towards achieving all the agreed upon goals within the set
scope, time, quality and budget standards.
• Project management is where all processes meet, the central focal point from which all
procedures derive, are specifically defined, scheduled and organized, following which
they are communicated and assigned and subsequently followed up and evaluated.
• Project management is the application of processes, methods, skills, knowledge and
experience to achieve specific project objectives according to the project acceptance
criteria within agreed parameters. Project management has final deliverables that are
constrained to a finite timescale and budget.
Characteristics of Project Management
• Objectives : fixed set of objectives and project ceases to exist on attainment of
such objectives.
• Life span: is always fixed, a project cannot go on for an infinite period of time.
• Single entity: a project is one entity and is normally entrusted to one responsibility
centre while participants of project are many.
• Team work: projects are worked through teams and teams may constitute members
belonging to different disciplines, organizations and even countries.
• Life cycle: a project has a life cycle with stages such as introduction, growth,
maturity and decline.
• Uniqueness: the locations, infrastructure, agencies & people make projects unique.
• Successive principle: what is going to happen during the life cycle of a
project is not fully known at any stage. The details get finalized
successively with the passage of time.
• Made to order: customer stipulates various requirements & puts
constraints within which the project must be executed.
• High level of sub-contracting: under projects maximum work gets
done from sub-contracting.
• Risk and uncertainty: degree of risk and uncertainty will depend on
how a project passes through its PLC phases. All ill-defined project
will have extremely high degree of risk & uncertainty.
Objectives of Project Management
• The successful development and implementation of all project’s phases
• Productive guidance, efficient communication and apt supervision of
the project’s team
• The achievement of the project’s main goal within the given
constraints. (time, quality and budget)
• Optimization of the allocated necessary inputs and their application to
meeting the project’s pre-defined objectives
• Production of a complete project which follows the client’s exclusive
needs and objectives.
Importance of Project Management
1. Realistic project planning
The importance of project planning cannot be overstated. Too often, organizations
overestimate how quickly they can achieve deliverables, underestimate the costs, or
both—a recipe for failure.
A good project manager considers the big picture and sets realistic and achievable goals,
budgets, and timelines. Without careful management, a project can quickly get off
track before it has even begun.
To set realistic goals, budgets, and timelines, the project manager communicates with
different stakeholders to understand the strategic priorities and business objectives of
the initiative. Based on their research, the project manager then outlines a project plan
 that balances those priorities within the constraints of time and budget. This process
involves cost estimation, resource management, and risk assessment.
 2. Clear focus and objectives
A lack of clear goals is the most common reason for project failure. Project
managers help organizations understand their priorities and define their project
objectives.
When project management is left to the team to handle, the scope and objectives
can easily get muddled. Unclear focus can lead to scope creep, missed deadlines,
and overspending.
Plus, without a project manager to oversee the project plans and task breakdowns,
many teams may not notice potential risk factors as they arise. If they don’t
address evolving project risks, the team could end up prioritizing the wrong tasks.
A good project manager keeps an eye on all these factors so that the team can focus
on the right tasks at the right time and adapt as needed.
3. Strategic alignment
One of the most important reasons to use project management is to 
align projects with business strategy. Mark Langley, the president and CEO of
PMI cautions, “If your organization is not good at project management,
you’re putting too much at risk in terms of ultimately delivering on strategy.”
In other words, project management is a driver of organizational strategy. So if
you aren’t applying it to your initiatives, you are missing a crucial
opportunity to grow.
As project managers oversee the planning and execution of a project, they help
ensure the project’s overall goals and its subsequent tasks and milestones all
align with the organization’s strategy. Strategic alignment at every level of the
project keeps each stakeholder on the same page and ensures your initiatives
drive the organization forward.
4. Managed process
Project management is a proactive process that seeks to help the right people do the right tasks at the
right time. Without a set project management method, many teams tend to work reactively—handling
issues as they arise rather than proactively planning for known risks and setting project goals and
parameters from the beginning.
Project managers help teams break down a project into more manageable pieces. By breaking the project
into a clear process of assigned tasks, milestones, and deadlines, project managers can direct their teams
more efficiently and react to issues with greater agility.
5. Quality control
Quality control is an essential component of project management. Your project could meet all parameters
for time and budget, but if the quality standards aren’t met, the project will be deemed a failure.
Unfortunately, this is an all-too-easy trap to fall into. Teams are under a lot of pressure to finish a project
on time and on budget. And this can lead to rushed work and shoddy execution.
That’s where project managers come in. They not only manage deadlines and objectives, but they also
keep an eye on how well project tasks are executed. Project managers help outline deliverables and
define their quality standards so that everyone knows exactly what they’re aiming for.    
6. Reduced costs
Project management reduces project costs by improving efficiency,
mitigating risks, and optimizing resources. Even with the added cost
of investing in a project manager, organizations stand to gain much
more.
Techniques of Project Management
• Classic Technique
It includes preparing a plan for upcoming work, estimating tasks to
perform, allocating resources, providing and getting feedback from the
team, and monitoring quality and deadlines.
Where to use: ideal for running projects performed by small teams,
when its not necessary to implement a complex process.
• Waterfall Technique
Based on sequential performance of tasks, the next step starts when previous
one is accomplished, each phase’s completion is terminal- waterfall
management does not allow you to return to previous phase. The only way to
revisit a phase is to start over at a phase one.
It was developed for manufacturing and construction industries where tasks are
performed sequentially.
Proper planning is a must.
Gantt charts are used in this techniques for monitoring.
Where to use- useful for complex projects where detailed phasing is required
and successful delivery depends on rigid work structuring.
Examples- To develop enterprise applications like Customer Relationship
Management, Supply Chain Management, Inventory Management systems,
manufacturing a tractor etc
 No Coding, team establishes specs like programming language and
hardware requirements

Coding is implemented in small pieces

And a functional product is created.

Testers methodically find and

report any problems

Product is complete, team submits the

deliverables to be deployed or released

Product has been delivered to the client and is operational.

As issue arises, team may need to create patches and updates to address them
Phases of Waterfall Project Management

• Requirement gathering and documentation

• System design
• Implementation
• Testing
• Delivery/ deployment
• Maintenance
Agile Project Management
• Is a set of principles based on the value-centered approach. It prescribes dividing the
project into short sprints, using adaptive planning and continual improvement, and
fostering teams’ self-organization and collaboration targeted to maximum value.

• It includes 4 key values and 12 principles.

i. Our highest priority is to satisfy the customer through early and continuous delivery of
valuable software.
ii. Welcome changing requirements, even late in development. Agile processes harness
change for the customer’s competitive advantage.
iii. Deliver working software frequently, from a couple of weeks to a couple of months,
with a preference to the shorter timescale.
iv. Business people and developers must work together daily throughout the project.
i. Build projects around motivated individuals. Give them the environment and
support they need, and trust them to get the job done.
ii. The most efficient and effective method of conveying information to and
within a development team is face-to-face conversation.
iii. Working software is the primary measure of progress.
iv. Agile processes promote sustainable development. The sponsors, developers,
and users should be able to maintain a constant pace indefinitely.
v. Continuous attention to technical excellence and good design enhances agility.
vi. Simplicity–the art of maximizing the amount of work not done–is essential.
vii. The best architectures, requirements, and designs emerge from self-organizing
teams.
viii.At regular intervals, the team reflects on how to become more effective, then
tunes and adjusts its behavior accordingly.
Agile Project Management and Scrum

• Scrum is one of the agile methodologies designed to guide teams in an

iterative and incremental delivery of a product. Often referred to as
Agile project management framework
• The framework utilizes short iterations of work, called sprints and
daily meetings called scrums to tackle discrete portions of project in
succession until the complete project is over.
• There are three key roles within Scrum: the Scrum master, product
owner, the scrum team members.
Daily meetings. The
scrum master, product
Owner and team members
Rational Unified Process
• RUP is a framework designed for software development teams and
projects. It prescribes implementing an iterative development process,
where feedback from product users is taken into account for planning
future development phases.
• Where to use: RUP technique is applied in software development
projects, where end user satisfaction is the key requirement.
Other techniques…
• PERT
• Critical path Technique
• Etc.
Project Team
• The project team includes the project manager and the group of individuals
who work together on a project to achieve its objectives.
• It consists of the project manager, project management staff, and other team
members who are maybe not directly involved with management but carry
out the work related to the project.
• This team consists of people from different teams with precise subject matter
knowledge or with the required skill set to carry out the work of the project.
• The structure and characteristics of a project team usually vary, but the
project manager’s role as the leader of the team remains constant. However,
the amount and nature of authority the project manager has over the members
can differ.
 Project Manager
• The project manager plays the chief part in the project and is responsible
for its success and quality. His job is to make sure that the project proceeds
and completes within the specified time frame and the ascertained budget,
and accomplishing its goals at the same time. Project managers ensure that
resources are sufficient for the project and maintain relationships with
contributors and stakeholders.
 Project Team Member
• Project team members are mainly the people who work on various phases of
the project. They could be in-house staff or external consultants and may be
working on a full-time or part-time basis. Their roles can differ according to
each project.
Project Sponsor
The project sponsor is the driver and in-house champion of the project. He has a
vested interest in the successful outcome of the project. They are typically
members of senior management – those with a stake in the project’s outcome.
Project sponsors work closely with the project manager. They legitimize the
project’s objectives and participate in high-level project planning. Also, they
often help resolve conflicts and remove obstacles that occur throughout the
project, and they sign off on approvals needed to advance each phase.

Project sponsor duties:

• Make key business decisions for the project
• Approve the project budget
• Ensure availability of resources
• Communicate the project’s goals throughout the organization
Business Analyst
The business analyst recognizes requirements of the organization and
suggests solutions to the problems. In a project team, they make sure that
the current project’s objectives can solve existing problems and add value
to the organization. They can also help make the most of project
deliverables.

A business analyst is entrusted with:

• Helping in defining the project
• Collecting requirements from business units or users
• Documenting technical and business requirements
• Ensuring that project deliverables meet the requirements
• Testing solutions to validate objectives
• https://www.youtube.com/watch?v=zPXQ5lSQgV0
Determinants of a Successful Project
• Smart People.
• Smart Planning
• Open Communication
• Careful Risk Management
• Strong Project Closure
 Project Life Cycle Phases
• CONCEPTION PHASE
• Project idea germinates.
• Ideas may get generated from problems.
• Determining existing needs or potential of current projects
• Choosing initial designs that would satisfy the objectives
• Gauging initial technical, environmental, and economic feasibility.
• DEFINITION PHASE
• A refinement of the swayed ideas.
• Dauntless identification of human & material resources required.
• Preparation of detailed plans to suit the project.
• Estimation of realistic cost, schedule & performance requirements.
• Defining interfacing and intrafacing activities.
• Spotting out those areas of project where high risk & uncertainty
exist & delineation of plans for further analysis.
• PLANNING AND ORGANIZING PHASE
• Identification & management of the resources in order to facilitate production processes, such as
inventory, funds, etc.
• Affirmation of project production specifications.
• Manifestation of production, construction & installation

• INSTALLATION
• Actual production.
• 80 to 85% of the project work is carried on in this stage.
• Constructing work packages.
• Action and coordination.
• Monitoring and control.

• CLEAN UP PHASE
• Confirming that customer is satisfied.
• Ensuring project accounts are up to date.
• Paying any outstanding dues on behalf of the project.
• Collecting dues of fees or payment and clearing accounts of client.
Project Management Phases
 Idea Generation (Sources)

• Customers
• Distribution channel members
• Competitors
• Own sales force
• Marketing research and advertising agency
• Suppliers and vendors
• Company management
• Scientist and consultant
 Facets of Project Analysis

• Market Analysis Potential market, Market Share

• Technical Analysis Technical viability, Sensible choices

• Financial Analysis Risk, Return

• Economic Analysis Benefits and costs in shadow prices, Other

impacts

• Ecological Analysis Environmental damage, Restoration

measures
Thank You !!