Project Fundamentals and Characteristics

A temporary endeavor undertaken to create a unique product, service, or result.

Projects aim for specific, defined outcomes (e.g., a building, a drug, a training program). They are not defined by outcome type.

Projects range from simple, single-discipline efforts to complex, multi-national undertakings.

A project managed by a team within a single company and within a single field of work.

A project involving various professional fields within a single company.

A project requiring cooperation across different companies.

A project spanning across multiple geographical locations and countries.

Essential skills needed to manage and execute projects of all their complexity levels, from simple to very complex.

A temporary endeavor with a defined start and finish, aimed at creating a unique product, service, or result.

Each project is different, even when dealing with similar tasks. Factors like location, team, and external conditions contribute to this uniqueness.

Every project operates within limitations of time, cost, and quality. The project manager must balance these factors to achieve the desired outcome.

A successful project involves multiple activities, often requiring a team with diverse skills and knowledge. Planning and monitoring these activities is crucial.

Projects require various resources, including skilled personnel, equipment, materials, and information. Ensuring timely availability is vital.

Successful projects require strong leadership. The project manager oversees the entire process, ensures progress towards the goals, and directs the team effectively.

Projects follow a defined life cycle with distinct phases, from initiation to planning, execution, monitoring, and closure.

A project requires financial resources, and keeping the budget in check is crucial for successful completion.

Projects can be impacted by internal and external changes, requiring proactive management to adjust plans and resources.

Projects have a definite start and finish, a defined lifecycle, and a budget. They are often unique and require resources, coordination, leadership, and change management.

Projects can range from small personal endeavors like planning a vacation to large endeavors like developing a new product or building a skyscraper.

Complex projects often involve multiple teams, locations, and stakeholders, requiring effective communication, coordination, and conflict resolution to achieve shared goals.

The different stages of planning, starting with setting goals and objectives, then defining strategies, and finally outlining programs and projects.

The process of defining long-term goals and objectives for an organization and developing strategies to achieve them.

A collection of related projects that work together to achieve a broader goal.

A program is a broader goal with multiple projects. A project is a specific undertaking within a program.

Projects are defined by their objectives, features, return on investment calculations, and implementation plan.

A project that is not part of a larger program and can be completed independently.

The responsibility of top management, determining how to allocate resources for projects.

The responsibility of operational level management, carrying out the project activities.

Effective project planning is crucial for successful project execution.

Project analysis helps prioritize investments by evaluating their potential impact and resource requirements.

Policy affects a whole sub-sector, while a project impacts only a specific part.

These elements must be connected for effective investment decisions.

Questions to guide project planning and ensure alignment with overall goals.

Ensuring that projects are consistent with the overall goals and policies of an organization or country.

Every project is unique and not a repetition of past endeavors, though they may have similarities. Projects are rarely identical, emphasizing their unique characteristics.

Every project has defined start and finish dates, marking its temporary nature. This timeframe helps manage resources and track progress efficiently.

Each project has a clearly designated leader or manager who ultimately bears responsibility for its success. This ensures accountability and clear decision-making.

Projects involve collaborative efforts from various professionals, requiring team building, role definition, and strong communication.

Planning is a proactive approach to organizing activities in a sequence to achieve desired objectives. It is widely used across various disciplines and essential for achieving goals.

The development plan outlines the planning policies for a local community, including land use, amenities, and development goals. It governs the direction of the area for a specific period.

High-quality development plans create a strategic framework, set a clear vision, involve public consensus, and offer guidance for investment and development.

Tactical planning translates strategic goals into actionable objectives for each department. It specifies the steps and activities each division needs to take within a timeframe of 2-5 years.

Operational planning focuses on daily activities within each department to execute tactical plans and achieve operational goals. It typically covers a period of 1-2 years.

Plans are classified by their timeframe: strategic plans for long-term vision, tactical plans for shorter-term objectives, and operational plans for daily activities.

Plans vary in their level of detail: strategic plans are directional, tactical plans are specific, and operational plans are extremely detailed.

Strategic plans are used once, tactical plans are frequently used as standing plans, and operational plans are used daily to guide daily operations.

Strategic, tactical, and operational levels of planning are interconnected: Strategic plans guide tactical plans, and tactical plans inform operational plans. Projects are typically aligned with these plans.

A comprehensive document outlining the strategy, schedule, resources, and communication for a project or program.

A concise statement highlighting the goals, aims, and desired outcomes of the project.

The specific group of people the project aims to reach or benefit.

The knowledge, skills, or abilities that the project aims to impart to the target audience.

What makes your project stand out from others or why it's unique and appealing to the target audience.

A clear assignment of tasks and responsibilities to different individuals or teams involved in the project.

Specific actions or activities that need to be completed to achieve the project objectives.

A schedule outlining the start and end dates of all key tasks and milestones in the project.

Strategies for managing potential risks, changes, or unexpected challenges that might occur during the project.

A plan outlining the methods, frequency, and channels for communicating with all stakeholders involved in the project.

A system for tracking project progress, measuring success, and making adjustments as needed.

A system for documenting all project documents, decisions, and activities for future reference.

The lasting impact or benefits of the project beyond its initial completion.

Choosing the initial group to analyze for a project, acknowledging potential changes based on further information.

Groups that are expected to gain positive outcomes from a project.

Groups that might experience negative impacts due to a project.

Groups with the authority to make decisions about a project.

Groups providing financial support for a project.

Groups responsible for carrying out the project's activities.

Groups representing the interests of the community.

Groups that might resist or obstruct a project.

Groups likely to collaborate and help with a project.

Factors used to understand groups in relation to a project, including their interests, potential conflicts, and social relationships.

A technique for identifying problems and their causes and effects, visualized as a tree structure.

Steps involved in creating a problem tree: identifying problems, listing causes, and structuring them in cause-effect relationships.

A technique for identifying objectives to be achieved by solving the problems identified in the problem tree.

Steps involved in creating an objective tree: examining the problem tree, identifying objectives, and structuring them in cause-effect relationships.

Objectives that directly reverse a problem, creating a positive condition.

Projects can range from simple to complex, involving factors like team size, disciplines involved, and geographic scope.

A problem-solving approach where you focus on finding the best single solution from a set of possibilities.

A problem-solving approach where you explore a wide range of possible solutions and think creatively.

Project ideas come from diverse sources, like technical experts, community leaders, entrepreneurs, and government policies.

A strategic tool to analyze an organization's Strengths, Weaknesses, Opportunities, and Threats to identify potential projects.

Well-defined project objectives, like cost reduction or expansion, guide efforts and encourage creative solutions.

A supportive environment that encourages creativity, innovation, and entrepreneurial spirit within an organization.

The initial step in a project's lifecycle, where potential project ideas are examined for feasibility and desirability.

Experts in specific fields who often provide valuable project ideas based on research, experience, and industry trends.

Community members with in-depth knowledge about local needs and challenges, crucial for community development projects.

Individuals with a vision and initiative to start new ventures, often a source of innovative project ideas.

A collaborative approach to identify and analyze the various stakeholders and their interests involved in a project.

The primary beneficiary group for which a project aims to bring positive change.

A process to identify and understand the diverse groups of people who have an interest in the success of a project.

Unpredictable external events that can significantly impact a project's outcome.

A comprehensive analysis of a project's marketing, technical, financial, economic, and ecological aspects to determine its viability.

The initial assessment of a project to determine if it is worthwhile pursuing further.

A project proposed by powerful individuals within an organization, often favored due to influence.

A project initiated to maintain the functioning of an existing system.

A project launched to gain or maintain a competitive advantage.

A project focused on developing and distributing new products.

Examining the demand potential for a project's output, including demographics, income levels, and market share.

Evaluating the project's inputs, outputs, production processes, and technology.

Assessing the project's fit with the existing institutional and managerial structures.

Examining the project's financial feasibility, including costs, revenue, and profitability.

Evaluating the project's broader impact on the economy, including employment and resource utilization.

Assessing the project's social impact, including equity, community benefits, and cultural considerations.

Evaluating the project's environmental impact, including pollution, resource consumption, and sustainability.

Ranking multiple projects based on their potential benefits when resources are limited.

A critical review of a project to assess its suitability before committing significant funds.

Evaluating the technical feasibility and efficiency of a project.

Assessing the availability and cost of resources needed for a project.

Examining how a project affects people in different communities.

Assessing the project's impact on the environment, such as pollution and habitat loss.

Choosing the best location for a project based on factors like access, cost, and environmental impact.

Adjusted market prices in economic analysis to reflect social benefits.

Government payments that redistribute income but don't reflect actual resource costs.

Financial analysis focuses on costs and benefits to the project owner or investor.

Economic analysis considers the broader impact of a project beyond the project owner.

A method to visualize different solutions or actions to reach the same or different objectives in a simple format. It helps you see various paths to your goal.

A matrix used in project planning that aligns project purposes, goals, outputs, and inputs, showing how these elements connect and contribute to achieving the project's objectives.

This phase focuses on detailed project planning, including feasibility studies, to answer key questions like 'what to do', 'when to do it', and 'how to do it'.

A preliminary assessment of a project's financial, economic, and technical viability, to determine if further detailed research is needed.

To analyze whether the project is viable, if further detailed analysis is required, if supporting studies like market surveys are needed, and if it aligns with environmental standards.

Functional studies focused on specific aspects of a project, such as market research, raw material availability, or environmental impact.

They provide vital information needed for pre-feasibility and feasibility studies, particularly important for large-scale projects.

A detailed analysis of a project's economic, financial, technical, social, and environmental impact, providing a comprehensive understanding of its feasibility.

Pre-feasibility is a quick check for viability, while feasibility is in-depth research to determine the project's overall feasibility.

Insufficient detail can lead to poorly defined cause-and-effect relationships, resulting in unintended consequences and additional problems.

Project definition and objectives, market analysis, raw material requirements, location and environmental impact, engineering and technology, organization and overhead costs, human resources, project implementation schedule, and budgeting.

To evaluate the financial and economic impact of each factor and assess the overall viability of the project.

No, if the opportunity study is well-prepared and comprehensive, the pre-feasibility stage can be skipped. It depends on the level of detail available in the initial study.

Market research, raw material and factory supply studies, lab and pilot-plant tests, location studies, economies-of-scale studies, equipment selection studies, and environmental impact assessments.

The results should provide clear direction for the next stage of project preparation.