ITE 1 - Project Management Overview

Lesson Objectives

• Understand the definition of a project and project management.
• Enumerate attributes of project management.
• Discuss core components of project management.
• Identify factors that determine project success.
• Define each of the four cornerstones of project management.
• Identify members of the project team.
• Recognize skills essential for effective project management.

Overview of Project Management

• Project management applies knowledge, skills, tools, and techniques to meet project requirements.
• Attributes of project management include:
  • Complex and numerous activities.
  • Unique nature of projects.
  • Finite duration with specific beginning and end dates.
  • Limited resources and budget constraints.
  • Involvement of multiple individuals.
  • Activities must be sequenced with a clear end product or service.

Definition of a Project

• A project is a unique, temporary effort aimed at achieving specific objectives, outputs, outcomes, or benefits.
• Projects may result in:
  • Development of new or existing products.
  • Creation of services or capabilities.
  • Improvement of existing processes or products.
  • Generation of knowledge or results.

Examples of Projects

• Developing new products or services.
• Organizational restructuring or process change.
• Creation of information systems (software/hardware).
• Conducting research with documented outcomes.
• Construction of physical infrastructure.
• Enhancements to existing business operations.

Understanding Project Management

• Project management involves planning, organization, staffing, directing, and monitoring to achieve project goals.
• Core principles can be summarized as "Plan the work and then work the plan."

Management Functions

• Planning: Estimating resources and scheduling.
• Organizing: Assigning roles and responsibilities.
• Staffing: Recruiting and motivating the team.
• Directing: Ensuring teamwork and cohesion.
• Monitoring: Tracking progress and implementing corrective actions.

Benefits of Effective Project Management

• Reduces overall project costs.
• Lessens financial strain on working capital.
• Optimizes resource usage.
• Enhances timely project completion.
• Increases the quality of the final product.
• Satisfies stakeholder needs.

Core Components of Project Management

• Defining the project’s necessity.
• Capturing requirements and quality specifications.
• Preparing a business case for project justification.
• Securing agreement and funding.
• Implementing a comprehensive management plan.
• Leading and motivating the project team.
• Managing risks, monitoring progress, and maintaining stakeholder communication.
• Closing the project systematically.

Factors Influencing Project Success

• Project management philosophy.
• Defined roles and responsibilities.
• Adhering to project management principles and practices.

Project Management Philosophy

• Defined by three essential practices:
  • Plan.
  • Organize.
  • Control.

Project Management Principles and Practices

• Define project objectives clearly.
• Develop an execution plan outlining steps.
• Establish control baselines.
• Manage risks effectively.
• Ensure proper project closure.

The Four Cornerstones of Project Management

• Cost.
• Schedule.
• Scope.
• Quality.

Project Manager Role

• A good project manager takes overall ownership and is proactive in planning.
• Key traits include:
  • Authoritative yet approachable leadership.
  • Decisive decision-making skills.
  • Effectiveness in communication.
  • Data-driven management approach.
  • Ability to lead by example and motivate teams.
  • Skills in diplomacy and delegation.

Key Points

• Projects are characterized by their unique, transient nature and target distinct objectives.
• Sound project management significantly contributes to project success.
• Core considerations include philosophy, role responsibilities, and adherence to project management principles.