Project Definition:

According to Harold Kerzner, “A project is an endeavor that involves a series of

coordinated activities with a definite start and finish, undertaken by an
individual or organization to meet specific objectives within defined time,
cost, and performance parameters.”

Characteristics of Project:

The following are a few characteristics of project management that can help
you describe your project:

– Project Objectives

It is important for any project to first have its goals and objectives decided.
Defining project objectives makes project team members have a clear idea of
how to proceed and what to achieve with the project tasks and activities.
Objectives are the key characteristics of any project that help you analyze the
progress of the project. Tracking the progress and
regularly analyzing the results shows how much of the project has been
accomplished. With this, it becomes easier to determine the resources
required for further activities.

– Time

Every project is assigned or designed with certain deadlines and milestones.

No matter the type of project, every project is indiscriminately time-bound. To
ensure that the project team works independently on necessary project tasks,
project managers plan out the tasks and activities based on the resources
available and the capabilities of the team and team members.

Teams with fresher members are given significant time to understand the project
objectives and work on them, while teams with more experienced members
are only provided with
enough time. Project managers must also make sure that the allotted time,
when summed up, does not exceed the total time allotted for the project.

– Life Cycle

Every project has its Lifecycle for completion, such as Initiation (Beginning),
Planning,
Execution, Controlling, and Closing. These stages perfectly describe how the
project must be executed. Depending on the type of project, characteristics
of project life cycle phases may vary.

Defining these phases for a project depends on how the goals and objectives
of the project are derived. Project objectives help in carrying out the tasks
and activities towards the
succession of the project, while its lifecycle phases keep the project tasks
actively moving towards succession.

– Possible Conflicts

For becoming a project manager, one of the key skills required is Conflict
Resolution.
Irrespective of the project type or its field, the occurrence of Conflicts and
Risks is uncontrollable. Not properly defining the project results in high risks
and conflicts.

Utilizing the information available can help reduce the occurrence of risks
and conflicts. With this, project managers can ensure every project team and
its members work more productively and present more effectively.

– Flexibility

To make any project work as intended, it is important to take part in the

changes that occur within its lifecycle. Project managers must also ensure to
schedule every project task as
flexibly as possible to give team members enough time to adapt to changes
and cope with the tasks as scheduled.
The more flexibility In the schedule, the better the results concerning the
changes.

– Team Spirit

Just like the project is comprised of different characteristics, the same goes
for the team. Every team member is capable of different project
characteristics. With the help of a team with good team spirit, the project
can reciprocate according to the objectives set for each project. This also
helps in reducing the time taken to process the tasks and activities since
every project team member is working cumulatively.

– Risk and Uncertainty

The project is generally based on forecasting. So risk and uncertainty are always
associated with projects. There will be a high degree of risk in those project
which are not properly defined. Only the degree of control over risk and
uncertainty varies with the
project being conceived based on information available.

– Uniqueness

Each project is unique in itself, and it’s having own features. No two projects
are similar
even if the type of organization is the same. The uniqueness of the project can
measure by considering the many factors like objectives, features of the
project, application of the project, etc.
Objectives of Project Management:

 Meeting all project goals successfully within constraints:

To ensure the success of project goals, management and organisation of

resources, time, talent and workflows is necessary. Planning and
optimisation constitute an essential part of project management.

 Providing guidance and supervision to team members:

Teams working on a project may require supervision to accomplish tasks,

change strategy or maintain quality. Project management ensures a
structure of hierarchy and
accountability that facilitates guidance and support to all team members.

 Facilitating communication and collaboration:

Seamless communication and collaboration are integral to the success of

any project or team. Project management enables regular meetings,
discussions, feedback sessions, client approvals and exchange of ideas to
ensure that everyone is working towards the same goals with no wastage of
time or effort.

 Following all safety processes and protocols:

Certain projects, like that in food production plants or at construction sites,

may require stringent adherence to strict safety protocols and processes.
Project management
accounts for such reviews and safety checks to ensure the quality and safety
of the team members and the end product.

 Optimising budget and resources:

Project management is an attempt to use the allocated budget and

resources in the most efficient manner. This allows organisations to save
costs, maximise the return and ensure that there are no leakages in the
system.

 Reviewing and course-correcting timely:

All projects and plans require updates and changes during the
implementation phase. Project management help ensure that there are
assessments, quality checks and reviews throughout the project
implementation so that changes can take place quickly, effectively and
without disruption.

 Implementing all Safety Procedures and Protocols:

Ensuring that all essential safety measures are followed in order to

safeguard the health and safety of project participants and stakeholders.
  Optimizing Budge and Resources:

Budget and resource optimization refers to the effective management of

project resources, such as funds, supplies, and labor, in order to achieve
project goals while maximizing value and reducing waste.

 Managing Changes and Risks:

Actively detecting, evaluating, and controlling risks at every stage of the

project’s lifetime in order to minimize dangers and take advantage of
opportunities. In order to keep the project in line with its goals, it is also
important to manage changes to the project’s scope, schedule, or resources
successfully.

 Facilitating Continuous Improvement:

Project management is not just about the immediate goals. It also focuses on
learning from current projects to improve processes and outcomes in future
endeavours.

Tools and techniques of Project Management:

1. Waterfall Method:
Waterfall is a more traditional structured approach to organizing and
controlling projects. It is a linear management approach that says the
project should be
executed in several stages that follow each other. Once one stage is
over, the next
one can begin, and so on. As such, this project management
methodology is easy to understand and follow.

In Waterfall, teams divide a project into distinct phases. Each new

phase begins only once the previous one is completed. These
phases make project planning simple. It’s also easy to monitor if the
project is on track.
 That means Waterfall is well suited to projects that need to commit to a
fixed timeline or budget, such as large infrastructure projects. However,
a concern regarding the Waterfall project management methodology is the
lack of flexibility.
Because of the linear approach, it is not easy to introduce changes to
the project
once it has already begun. For projects that require more flexibility,
Agile is often the preferred project management technique.

2. Agile Method:
Agile is a set of values and principles that were written to make
software
development projects more efficient and has since been adopted more
broadly for a wide range of projects in a wide range of sectors and
organizations.

The Agile method involves categorizing a series of short-term

milestones into
deliverables that your team can quickly deliver in time-boxed
development periods known as iterations or Sprints.

Agile project management is a great technique for projects that require

speed and flexibility. Using an Agile method allows your team members
to collaborate by making their own decisions that contribute to the
desired outcomes, and to rapidly adjust their priorities as necessary.

3. Scrum Model:
The Scrum process is a widely adopted Agile framework designed to
facilitate collaborative and iterative development of products,
especially in complex and
dynamic environments. It focuses on delivering high-value outcomes
through short, time-boxed cycles known as sprints, typically lasting
between 1 to 4 weeks.

Scrum emphasizes flexibility, continuous feedback, and team

empowerment,
enabling organizations to adapt to changing requirements quickly and
efficiently.

Key roles such as the Product Owner, Scrum Master, and development
team play a crucial part in ensuring effective communication,
transparency, and delivery of a potentially shippable product increment
at the end of each sprint. This process
fosters regular reflection and improvement, helping teams
continuously optimize performance and deliver higher-quality
products.
4. Extreme Programming:
Extreme programming (XP) is a project management and software
development methodology that emphasizes speed and simplicity. It's
an agile framework that's well-suited for small to medium-sized
teams working on software with changing requirements.
It focuses on delivering high-quality software through frequent and
continuous feedback, collaboration, and adaptation.
XP emphasizes a close working relationship between the development
team, the customer, and stakeholders, with an emphasis on rapid,
iterative development and deployment.

5. Lean Method:
The Lean method focuses on creating more value for customers with
fewer
resources by eliminating waste. Waste refers to any activity that
consumes time, resources, or space but does not add value from the
customer’s perspective.
Widely used in manufacturing and services, Lean aims to reduce
excess inventory, overproduction, waiting times, and defects. It's also
about empowering teams to problem-solve and optimize their own
workflows.
Here are 7 Wastes of Lean:

1.Overproduction
2.Waiting
3.Transport
4.Extra Processing
5.Inventory
6.Motion
7.Defects

Example: In a software development team, Lean could mean

eliminating long approval processes or unnecessary meetings that
delay delivering features to customers.

6. Six Sigma:
Six Sigma aims to improve the quality of process outputs by identifying
and
removing the causes of defects and minimizing variability in
manufacturing and business processes. Six Sigma is most often applied
in quality control and business optimization projects.
 Core Principles:
Define: Identify the project goals and customer deliverables.
Measure: Ǫuantify the current performance of the process.
Analyze: Determine the root causes of defects or inefficiencies.
Improve: Implement solutions to eliminate defects and improve
process performance.
Control: Maintain the improved process and ensure that defects do not
recur.

Example: In a manufacturing setting, Six Sigma might be used to reduce

the defect rate of a product by improving machine calibration or the
consistency of raw materials.

7. Kanban Method:
The Kanban method is a visual project management tool that
emphasizes
continuous delivery and efficiency in workflow management. Originating
from manufacturing, it has been widely adopted in software
development and other industries. Kanban utilizes a visual board,
typically divided into columns that represent different stages of a project.
 To Do,
 In Progress
 Testing
 Done

Kanban is popular in software development and service industries

but can be applied to any team or project where tasks move through
distinct stages.

Example: In a marketing team, Kanban might be used to track the

progress of a campaign from the idea stage through content creation,
approval, and final publication.

Importance of Project Management:

1. Foundation for Success

Successful project is based on appropriate and effective management of

projects.
Consider a building in which the foundation is poorly built, this poses a
threat to the entire structure. Likewise, project management ensures that
projects are accomplished within a certain scope, time frame, and cost. For
instance, a software development project may
have milestones and deadlines in place that keep the team from straying off-
course by delivering the product right on time, as well as within budget.

2. Risk Mitigation and Planning

Project management requires detailed planning and preliminary hazard

analysis to
determine potential issues. Imagine a marketing campaign, where the team is
preparing for possible problems like market trends or new rivals. Risk
mitigation strategies allow the
project manager to create contingency plans so, that projects will not deviate
even under unanticipated challenges.

3. Resource Optimization

Proper resources must be allocated for project success. Consider any

production venture that focuses entirely on reducing the raw materials,
machinery as well as human resources to increase productivity. Allocation of
resources is effective through project management that reduces waste and
maximizes output thereby leading to cost effectiveness.

4. Stakeholder Communication

Communication is the cement that makes a project stick together. For a

construction project, interested parties can be architects, contractors, and
clients. As communication brokers, project managers contribute towards
making sure that all stakeholders are well aware of the requirements and goals
to be actively involved throughout implementing a
given project. Clear communication prevents misunderstandings and
maintains domestic harmony.

5. Adaptability and Flexibility

Projects are also at the mercy of change as a result of changes. Suppose, the
customer’s needs change halfway into a software development project.
Project management
methodologies like Agile, provide frameworks on how to adapt while still
holding onto project goals. This flexibility makes the project adaptive to a
changing environment.

6. Measurable Performance and Continuous Improvement

Project management involves establishing key performance indicators

(KPIs) and metrics to measure project progress. In a healthcare IT project, KPIs
could include the timely
implementation of electronic health records. By analyzing these metrics,
project managers can identify areas for improvement, fostering a culture of
continuous enhancement in
future projects.

7. Client Satisfaction and Ǫuality Assurance

Meeting client expectations is paramount. Consider a graphic design project,
where client satisfaction is contingent on the quality of the final product.
Project management
methodologies incorporate quality assurance processes and client feedback
loops to ensure that deliverables meet high standards. Satisfied clients not
only enhance the
reputation of the project team but also contribute to positive word-of-mouth
and repeat business.

8. Helps in Making Decisions:

A framework for systematic decision-making is offered by project

management. Based on pertinent data and analysis, decisions are taken on
the scope of the project, the
distribution of resources, and the solution of problems.

9. Timeline Management:

In project management, developing a project schedule with reasonable

deadlines is
crucial. Project managers plan and track work using a variety of scheduling
tools to make sure the project stays on track and is finished within the
allotted time.