Module 1 - Introduction

MODULE 1: Introduction to Project Management
Overview:
Realization of these objectives requires systematic planning and careful
implementation. To this effect, application of knowledge, skill, tools and techniques
in the project environment, refers to project management. Project management in
recent years has proliferated, reaching new heights of sophistication. It has
emerged as a distinct area of management practices to meet the challenges of new
economic environment, globalization process, rapid technological advancement,
and quality concerns of the stakeholders.
Project Definition:
Project in general refers to a new endeavor with specific objective and varies
so widely that it is very difficult to precisely define it. Some of the commonly quoted
definitions are as follows. Project is a temporary endeavor undertaken to create a
unique product or service or result. (AMERICAN National Standard ANSI/PMI99-001-
2004)
Project is a unique process, consist of a set of coordinated and controlled

activities with start and finish dates, undertaken to achieve an objective confirming
to specific requirements, including the constraints of time cost and resource.
(ISO10006)
Examples of project include Developing a watershed, Creating irrigation

facility, Developing new variety of a crop, Developing new breed of an animal,
Developing agro- processing centre, Construction of farm building, etc. It may be
noted that each of these projects differ in composition, type, scope, size and time.
Other examples; creating a business such as coffee shop, drugstore, restaurant,
boutique, pet clinic, etc.
Project Characteristics
 Despite above diversities, projects share the following common characteristics.
 Unique in nature.
 Have definite objectives (goals) to achieve.
 Requires set of resources.
 Have a specific time frame for completion with a definite start and finish.
 Involves risk and uncertainty.
 Requires cross-functional teams and interdisciplinary approach.
Project Performance Dimensions

Three major dimensions that define the project performance are scope, time, and
resource. These parameters are interrelated and interactive. The relationship
generally represented as an equilateral triangle. The relationship is shown in figure
1.
PROJECT TRIANGLE;
Time Cost
Scope
Figure 1. Project performance

dimensions
It is evident that any change in any one of dimensions would affect the other.
For example, if the scope is enlarged, project would require more time for
completion and the cost would also go up. If time is reduced the scope and cost
would also be required to be reduced. Similarly any change in cost would be
reflected in scope and time. Successful completion of the project would require
accomplishment of specified goals within scheduled time and budget. In recent
years a forth dimension, stakeholder satisfaction, is added to the project. However,
the other school of management argues that this dimension is an inherent part of
the scope of the project that defines the specifications to which the project is
required to be implemented. Thus the performance of a project is measured by the
degree to which these three parameters (scope,time and cost) are achieved.
Mathematically
Performance = f(Scope, Cost, Time)
In management literature, this equilateral triangle is also referred as the “Quality

triangle” of the project.
TIME;
What is time in a project plan?
What is time management in project management? Time management is defined as the

time spent and the progress made over the project. It is one of the major components of
project management and the most concern of project managers. Time management helps
you schedule and examine the completion of the project.
(Project) time is a component of the Magic Triangle and is one of the

central variables in project management. By recording the working time
on a project, e.g. through time recording software, services and
activities can be documented in detail and thus correctly accounted for
and analysed.
What is the role of time in a project?

Assigning accurate amounts of time to each task helps ensure timely completion of
individual elements and the project as a whole. It can increase efficiencies, effective
decisions and avoid unnecessary stress on project personnel and potential project failure.
Is time important in making a project?
Every project needs a schedule to meet its end date. A team and the project manager have to
manage their own time to meet the schedule. If you don't create a project schedule or do not plan
the end date, there are chances that years will go by and your project will never get finished.
What is the purpose of time?
The purpose of time is to provide a way of measuring and ordering events and processes.
Time enables us to track changes, to compare durations, and to predict future
occurrences. It allows us to coordinate our activities with others, to plan for the future, and
to reflect on the past.
How does time affect a project?

Time shifts in project management can significantly impact project completion, leading
to delays, resource challenges, scope creep, and increased risks. Recognizing the
potential risks associated with time shifts and implementing effective strategies to mitigate
their impact is crucial for project success
Why is time important in planning?

Planning your time ensures you have more time to work on your biggest priorities. With
more time to strategise, you have more time to focus on achieving your goals. Poor time
management means you don't have time to make progress on your biggest goals.
What is the best definition of time?

a. : the measured or measurable period during which an action, process, or condition
exists or continues : duration. b. : a nonspatial continuum that is measured in terms of
events which succeed one another from past through present to future.
COST;
What are project costs? Overall, project costs are the total funds
needed to monetarily cover and complete a business transaction or
work project. Project costs involve: Direct costs — Direct costs are
those directly involved with the project and necessary in order to
complete said project.
What do you mean by cost of project?

Cost of a project means costs associated with the design, planning and implementation of
a project that, in accordance with sound business and financial practices, are appropriate
charges to the project.
Why is cost important in a project?

For all the project costs, it is the Project cost management that determines the baseline.
Effective and efficient cost management makes sure the project runs on track within
budget and as per planned scope. Without Cost Management, the project can bleed,
costs can go above project profit and result in a loss.
What is cost use in project?

In Microsoft project costing, the basic resource costing, for a work resource may be
entered in the Standard Rate and Overtime Rate fields. The Cost/Use is a call-out charge;
a single charge incurred every time the resource is assigned to a task, taking the same
value regardless of the task's duration.
What is the actual cost of a project?
Actual Cost (AC) is a term used in project management to refer to the total amount of
money that has been spent on a project up to a certain point in time.
What is the main purpose of cost?

The main objective of cost accounting are ascertainment of cost, fixation of selling price,
proper recording and presentation of cost data to management for measuring efficiency
and for cost control and cost reduction, ascertaining the profit of each activity, assisting
management in decision making process.
How is a project cost effective?
Remember that cost efficiency is about delivering projects at the lowest possible price
without compromising quality. You're aiming to strike the balance between customer
satisfaction and cost. If you put too much into the project, you can elevate customer
satisfaction at the expense of your budget.
How do you cost a project?
What are the steps in project cost estimation?
1. Establish the goal of the project estimate. ...
2. Define the project features. ...
3. Devise a plan for the estimation. ...
4. Decide your project estimation strategy. ...
5. Determine how to manage data collection. ...
6. Record the estimation. ...
7. Share your estimation with management.
SCOPE;
Project scope is a way to set boundaries on your project and define

exactly what goals, deadlines, and project deliverables you'll be
working towards. By clarifying your project scope, you can ensure you
hit your project goals and objectives without delay or overwork.
Defining your project scope isn't a one-person job.
How do you define the scope of a project?
Steps for defining project scope
1. Define the project's goals. Every project has an
objective — that's why you're doing it in the first
place. ...
2. Define the project's deliverables. ...
3. Define the project's tasks and activities. ...
4. Define the project's exclusions. ...
5. Define the project's constraints.
How do you explain a scope?
The scope in research refers to the boundaries and extent of a study, defining its specific
objectives, target population, variables, methods, and limitations, which helps researchers
focus and provide a clear understanding of what will be investigated
Why is the scope of a project important?
Project scope helps to distinguish what is and is not involved in the project and controls
what is allowed or removed as it is executed. Scope management establishes control
factors, that can be used to address elements that result in changes during the lifecycle of
the project.
What is project in terms of scope?

In short, the project scope describes how the mission will be accomplished. It includes
identifying and documenting the project's goals, deliverables, tasks, project members,
deadlines, and milestones. Documentation consists of the scope statement, statement of
work, and a breakdown of the work structure.
What is an example of in scope?
To give you an example: Imagine you are managing a construction project for building a
house. Of course, the client would like to have electricity in all rooms. Therefore, you
offered to do the electrical wiring. So the electrical wiring is in sc
What is project scope in simple words?
Project scope is a detailed outline of all

aspects of a project, including all related
activities, resources, timelines, and
deliverables, as well as the project's
boundaries.
Scope refers to all the work involved in

creating the products of the project and
the processes used to create them.
Scope: The activities necessary to

achieve the project's goals.
Cost: The project budget, which serves

as the financial constraint in a project.
Time: The project's schedule based on

which the project will be completed.

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MODULE 1: Introduction to Project Management

Project is a unique process, consist of a set of coordinated and controlled

Examples of project include Developing a watershed, Creating irrigation

Project Performance Dimensions

Figure 1. Project performance

In management literature, this equilateral triangle is also referred as the “Quality

What is time in a project plan?

What is time management in project management? Time management is defined as the

(Project) time is a component of the Magic Triangle and is one of the

What is the role of time in a project?

Is time important in making a project?

How does time affect a project?

Why is time important in planning?

What is the best definition of time?

What do you mean by cost of project?

Why is cost important in a project?

What is cost use in project?

What is the main purpose of cost?

Project scope is a way to set boundaries on your project and define

What is project in terms of scope?

Project scope is a detailed outline of all

Scope refers to all the work involved in

Scope: The activities necessary to

Cost: The project budget, which serves

Time: The project's schedule based on

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