Project Management Concepts

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 Chapter Concepts
• Definition of a project and its attributes
• Key constraints within which a project must be
managed
• Life cycle of a project
• Definition of project management
• Elements of the project management process
• Identification and engagement of stakeholders
• Implications of global project management
• Project Management Institute
• Benefits of project management
© 2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
 Learning Outcomes
• Define what a project is • Discuss the steps of the planning
• List and discuss the attributes process
of a project • Identify the three elements of the
executing process
• Explain what is meant by
• Create a stakeholder register
project objective
• Discuss stakeholder engagement
• Define what is meant by
• Discuss some implications of
project deliverable
global project management
• Provide examples of projects • Discuss the Project Management
• Discuss project constraints Institute
• Describe the phases of the • List benefits of project
project life cycle management techniques
• Define and apply Project
Management
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© 2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
 Project Attributes

• Clear objective
• Series of interdependent activities
• Various resources
• Specific time frame
• Unique, one-time endeavour
• Sponsor or customer
• Degree of uncertainty

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 Balancing Project Constraints

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 Project Manager Actions

• Prevent, anticipate, overcome

• Have good planning and communication
• Be responsible

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 The Project Life Cycle

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 Initiating phase
• First phase
• Identify need, problem, or
opportunity
• Determine if select project
• Develop project charter
• Rationale
• Project objective
• Expected benefits
• General requirements
and conditions
• Decide if RFP needed

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 Planning phase
• Second phase
• Show how project scope will be
achieved
• Plan the work and work the plan
• Develop baseline plan
• What needs to be done –
scope, deliverable
• How it will get done –
activities, sequence
• Who will do it – resources,
responsibilities
• How long it will take –
durations, schedule
• How much it will cost – budget
• What the risks are
• Have actual resources plan the
work

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 Performing phase
• Third phase
• Achieve project objectives
• Project manager leads
• Project team completes the
project
• Increase pace as more resources
are added
• Monitor and control progress
• Take corrective action as needed
• Manage and control changes with
sponsor approval
• Achieve customer satisfaction
with acceptance of deliverable

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 Closing phase
• Final phase
• Collect and make final
payments
• Recognise and evaluate staff
• Conduct post project
evaluation
• Document lessons learned
• Archive project documents
• Record lessons learned

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 Project Planning Process

• Establish project objective

• Define scope
• Create WBS
• Assign responsibility
• Define specific activities
• Sequence activities
• Estimate activity resources
• Estimate activity durations
• Develop project schedule
• Estimate activity costs
• Determine budget
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 Create WBS and assign responsibility

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 Sequence activities

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 Develop the project schedule

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 Determine budget

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 Execute the project plan

• Perform the work

• Monitor and control
progress
• Control changes

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 Stakeholder Engagement

Who are stakeholders? What to create

• Customer/sponsor • Stakeholder register
• Project team including • Created as identify
subcontractors and stakeholders
suppliers • Include
• Key contact information
• organisations or groups • Role or specific topics of
o Supportive or adversarial interest
o Want to be kept informed • Expectations
because of potential impact • Any known issues
• Areas of potential influence
• Issue log

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 Global Project Management

Globalisation Helpful competencies

• Adds a dimension of • Foreign language skills
complexity • Knowledge of
• Changes project dynamics o Cultures
• Requires awareness of o Geography
factors o World history and
contemporary events
• Cultural differences
o International economics
• Currency
• Codes and regulations • Awareness of
• Business organisation o Customs and etiquette
• Political relations o Geopolitical environment
• Workforce availability • Technology adoption and
translation software
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 Project Management Associations

Project Management Institute Global associations

• Worldwide non-profit association • Links available at
of practitioners www.cengagebrain.com
o ~500 000 members in nearly
200 countries
o ~270 chapters in >80
countries
• >30 online communities for
collaboration
• PMBOK® Guide
• PMI Code of Ethics and
Professional Conduct
• Certifications
• www.pmi.org
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 Critical Success Factors
• Planning and communication are critical to successful project management. They prevent
problems from occurring or minimise their impact on the achievement of the project
objective when they do occur.
• Taking the time to develop a well thought-out plan before the start of the project is critical
to the successful achievement of any project.
• A project must have a clear objective of what is to be achieved and defined in terms of end
product or deliverable, schedule, and budget; and is agreed upon by the customer.
• Involve the sponsor or customer as a partner in the successful outcome of the project
through active participation during the project.
• Achieving customer satisfaction requires ongoing communication with the customer to keep
the customer informed and to determine whether expectations have changed.
• The key to effective project control is measuring actual progress and comparing it to planned
progress on a timely and regular basis and taking any needed corrective action immediately.
• After the conclusion of a project, the project performance should be evaluated to learn what
could be improved if a similar project were to be undertaken in the future. Feedback should
be obtained from the sponsor or customer and the project team.
• Learning and understanding the culture and customs of other project participants will
demonstrate respect, help build trust, and aid in developing an effective project team; and it
is critical for successful global project management.

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 Summary
• A project is an endeavour to achieve a specific objective through a unique set of interrelated
activities and the effective utilisation of resources.
• The successful achievement of the project objective could be constrained by many factors,
including scope, quality, schedule, budget, resources, risks, customer satisfaction, and
stakeholder support.
• The project life cycle has four phases: initiating, planning, performing, and closing the
project.
• Project management is planning, organising, coordinating, leading, and controlling resources
to achieve the project objective. The project management process involves two major
functions: first establishing a plan and then executing that plan to achieve the project
objective.
• Globalisation changes the dynamics of a project and adds a layer of complexity that can
adversely affect the project outcome if the project participants are not aware of what they
can encounter regarding cultural differences and multinational economic transactions.
• The Project Management Institute is a premier worldwide non-profit association for
practitioners in the project management profession.
• The ultimate benefit of implementing project management techniques is having a satisfied
customer – whether you are the customer of your own project or a business (contractor)
being paid by a customer to perform a project.

© 2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.