Module 1 Main

Module 1: Project Management Concepts
Concept of Project
A project is defined as a “temporary endeavor with a beginning and an end and it must be
used to create a unique product, service or result” Further, it is progressively elaborated
What this definition of a project means is that projects are those activities that cannot go on
indefinitely and must have a defined purpose.
Attributes of a Project
Resources
This is a key consideration in project management, as the project manager must determine
what resources are needed to complete the project. These resources include labor,
materials, supplies, equipment, and contingency and escalation.
Stakeholder management
Stakeholders have power over a project's success, so effective communication with them is
an integral part of project management.
Project planning
This is an important element of project management, as it records and tracks the various
entities of a project, such as the schedule, cost, and effort.
Risk management
This is a critical aspect of project management, as it plays a vital role in the success of any
project. Risk management aims to identify, assess, and prioritize potential risks that could
impact the project's objectives.
Communication
This is an essential element in project management, as it involves disseminating information
using the most effective channels to ensure that the receiver understands the message.
Project schedule
This is one of the primary components in the classic project management triple constraint of
time, cost, and scope.
Conclusion
This is a vital part of the overall project, as it is the last impression that the reader has of the
project. A good conclusion will restate the main points of the project and will leave the reader
with a lasting impression.
Timeline
A project has a definite timeline with measurable starting and end points.
Resources
A project has limited resource of capital and manpower.
Tools
Special type of tools and techniques are used for project management (Gantt Charts, etc.)
Team
Project management requires diverse team stretching across departments and functions.
Project management life cycle

Project management is the practice of initiating, planning, executing, controlling, and closing
the work of a team to achieve specific goals and meet specific success criteria at the
specified time. The primary challenge of project management is to achieve all of the project
goals within the given constraints
The project management life cycle encompasses five fundamental phases: initiation,
planning, execution, monitoring and controlling, and closing.
Initiation: This phase involves defining the project's purpose, scope, objectives, and
stakeholders. It includes obtaining approval to proceed with the project.
Planning: During this phase, project managers develop a comprehensive plan outlining
tasks, timelines, resources, and budgets required to achieve project goals. Risk assessment
and mitigation strategies are also established.
Execution: Here, the project plan is put into action. Tasks are assigned, resources are
allocated, and the project team works towards completing deliverables according to the
established schedule and quality standards.
Monitoring and Controlling: Progress is regularly monitored and compared against the
project plan. Any deviations are identified, and corrective actions are taken to keep the
project on track. This phase ensures that the project stays within scope, time, and budget
constraints.
Closing: Once all project objectives are met, the project is formally closed. This involves
obtaining client acceptance, documenting lessons learned, releasing resources, and
celebrating project success.
Project need identification
Project needs are the purpose of a project, which can be identified as a result of an
opportunity to improve or a problem. The project's needs should include:
• The project's goal
• The project's context and environment
• The project's objectives
• The project's scope
• The needs of the end-users
• A list of stakeholders
• A SWOT analysis to determine the project's opportunities and risks
• The expected benefits
• Key Performance Indicators (KPIs)
Here are some questions you can consider when identifying a project:
• What problem do you want to solve?
• What evidence supports the problem?
• What other initiatives have been implemented?
• What are your objectives?
You can quantify the problem to determine if the expected outcome will outweigh the
project's costs. If the costs outweigh the benefits, the project might not be feasible.
The five major project management fundamentals are: Conception and initiation, Planning,
Execution, Monitoring, and Project close.
Here are some steps you can take to identify a project:
1. Identify the problem
2. Gather data
3. Observe what is needed
4. Gather information about the processes needed to execute the project
5. Include comments from the group that will benefit from the project
Defining the project scope
Project scope is a detailed outline of a project's activities, resources, timelines, deliverables,
and boundaries. It's an important part of stakeholder management, as stakeholders are often
responsible for, or affected by, the project's results. A project scope helps managers assign
tasks, schedule work, budget appropriately, and focus team members on common
objectives. It also prevents projects from expanding beyond the established vision.
Here are some steps for defining project scope:
• Establish goals and objectives
• Collect project requirements
• Identify and allocate resources
• Create exclusions and constraints
• Define deliverables
• Get buy-in from stakeholders
• Establish a change control process
Some risks that project managers should be aware of when defining the scope of a project
include:
• Scope creep
• Unclear requirements
• Stakeholder misalignment
• Lack of stakeholder involvement
• Over-optimistic estimates
• Lack of flexibility
• Incomplete risk assessment
Scope creep, the gradual expansion of project scope beyond its original boundaries, can lead
to project delays, cost overruns, and dissatisfaction among stakeholders. Therefore, it's
crucial to regularly monitor and control changes to the scope throughout the project
lifecycle.
By defining the project scope upfront, project managers can effectively plan, execute, and
monitor the project, ensuring that it stays on track and delivers the intended outcomes within
the constraints of time, budget, and resources.

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Module 1: Project Management Concepts

Project management life cycle

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