Project Management: An Overview

Introduction to Project Management

• A project forms unique product, service, or outcome with a defined start and end
• Projects should be temporary endeavors
• Projects are designed to achieve objectives within a specific timeframe
• Projects need resource allocation of time, money, and personnel
• Projects implement change or improvements
• Projects initiate implement change or improvements within an organization
• Projects depend on cross-functional collaboration among departments or teams
• Projects characterized by uncertainties and risks that must be managed
• Projects need Stakeholder engagement
• Projects need to consider and manage interests of Stakeholders throughout the project lifecycle
• Projects have distinct phases: initiation, planning, execution, monitoring, and closure
• Project success measured against predetermined criteria: time, cost, quality, and stakeholder satisfaction

Project Characteristics

• Have a defined Scope
• Every project has a clearly outlined set of tasks and boundaries to achieve the desired outcome
• Projects are of a Temporary Nature
• Projects have a start and end date, meaning they are not ongoing operations
• Projects have Unique Deliverables
• Each project produces a specific result or output that is distinct from other projects
• Projects should have Clear Objectives
• Projects should have well-defined goals and desired outcomes that guide the team's efforts
• Projects need Resource Management
• Projects need Effective project management involving allocating and managing the necessary personnel, budget, and tools
• Projects use Risk Management
• Identifying potential risks and developing mitigation strategies is crucial for project success
• Projects need Quality control
• Ensuring that the project deliverables meet established quality standards throughout the process
• Projects need Stakeholder Engagement
• Stakeholder Engagement means Maintaining open communication with all relevant parties to manage expectations and address concerns
• Projects need a Communication Plan
• A structured approach to keeping all team members informed about project progress and updates
• Projects have a Project Life cycle
• Project Life Cycle means a structured framework consisting of distinct stages like initiation, planning, execution, monitoring, and closure

Project vs Program vs Plan

• Project Definition: A temporary endeavor with a specific goal
• Program Definition: A group of related projects managed together
• Plan Definition: A detailed proposal for achieving a goal
• Project Duration: Temporary, with a defined start and end date
• Program Duration: Ongoing, often without a defined end date
• Plan Duration: Variable, can be short-term or long-term
• Project Objective: Deliver a unique product or service
• Program Objective: Achieve strategic objectives through projects
• Plan Objective: Outline steps to reach objectives or goals
• Project Scope: Narrow and specific
• Program Scope: Broader, encompassing multiple projects
• Plan Scope: Specific to the goal, but can vary in scope
• Project Management: Managed by a project manager
• Program Management: Managed by a program manager
• Plan Management: Managed by individuals or teams executing the plan
• Project Example: Building a new bridge
• Program Example: Urban development program with multiple bridges, roads, and parks
• Plan Example: Marketing plan for a product launch
• Project Success Criteria: Completion on time, within budget, and meets specifications
• Program Success Criteria: Achievement of benefits and overall strategic goals
• Plan Success Criteria: Successful execution of outlined steps and objectives

Example Projects

• Project: Building a New Bridge
  • Goal: Construct a bridge across a river
  • Duration: 2 years
  • Outcome: A completed bridge
• Program: Urban Development Program
  • Goal: Improve infrastructure in a city
  • Projects Included: Building multiple bridges, upgrading roads, creating parks
  • Duration: Ongoing as city needs evolve
• Plan: Marketing Plan for a Product Launch
  • Goal: Successfully launch a new Smartphone
  • Components: Market research, advertising strategy, sales targets
  • Duration: 6 months leading up to the launch

Project Examples

• Local Bakery Opening: Launching a bakery in a community
• New Restaurant: Establishing a unique dining concept
• E-commerce Website: Creating an online store for handmade goods
• Mobile App Development: Developing a fitness tracking application
• Social Media Campaign: Running targeted ads for a local product
• Manufacturing Startup: Starting a small furniture production company
• Consulting Service: Launching a marketing consultancy for small businesses
• Fashion Brand Development: Creating and selling a clothing line
• Event Planning Business: Offering services for weddings and corporate events.
• Infrastructure Development: Building new roads or bridges
• Public Health Campaign: Implementing vaccination drives
• Education Reform Initiative: Constructing new schools and improving curriculums
• Waste Management Program: Establishing recycling facilities
• Renewable Energy Project: Developing solar or wind farms
• Affordable Housing Initiative: Creating low-cost housing developments
• Transportation Improvement Plan: Enhancing public transit systems
• Water Supply Project: Expanding access to clean water in rural areas
• Rural Electrification Project: Providing electricity to underserved areas
• Disaster Relief Program: Coordinating assistance for affected communities

Project Success vs. Failure

• Project Success Characteristics: Clear objectives, strong leadership, effective communication, well-defined scope, adequate resources, realistic timeline, team collaboration, risk management, regular monitoring, and reporting
• Project Failure Reasons: Lack of clear goals, poor project management, inadequate stakeholder engagement, scope creep, insufficient resources, unrealistic deadlines, team conflicts, ignoring risks, lack of progress tracking, failure to meet stakeholder needs

Project Life Cycle

• Project Life Cycle: Distinct phases a project goes through from initiation and then planning and execution to completion
• The Project Life Cycle includes defined stages with specific deliverables at each point to achieve the project goals effectively
• The Project Life Cycle provides a framework for managing and organizing activities, processes, and deliverables
• The Project Cycle (World Bank 1970) includes the 4 major components in linear progression --identification, preparation, appraisal, and implementation

World Bank Project Cycle, further details

• Essence: Community participation in project idea generation, project implementation, as well as controlling as well as utilization was marginalized
• Projects were facing implementation problems and could not be sustained, if ever implemented as planned
• 1978 Revision: Baum revised his formulation of the project cycle and included a fifth component, evaluation
• Project Identification is the initial phase to pursue a suitable project idea
• The World Bank conducts assessments, consultations, and analyses to identify development challenges and opportunities (based on needs and priorities of the country or region)

Further World Bank Project Cycle

• Project preparation is most important in project planning
• It is important during Preparation to list and elaborate:
  • Who the target beneficiaries are
  • What the goals are
  • What the current constraints are for the achievement of those goals
  • How the project proposes to overcome those constraints
• Feasibility studies should determine carrying out the project

World Bank Evaluation Steps

• Project appraisal assesses a proposed project for its feasibility, viability, and potential
• Appraises the project's technical, economic, financial, social, and environmental aspects
• Implementation involves execution
  • Breaking down the project into its component tasks and activities
  • Assigning tasks and activities to project team members
  • Allocating and use of resources such as personnel, finance, time, and materials
• Project evaluation assesses the effectiveness, efficiency, and impact of a project to enhance effectiveness for enhancement

UNIDO’s Project Cycle (UNIDO Model)

• The project lifecycle is divided into these phases: pre-investment, investment (implementation), and operation (including ex-post evaluation)
  • Pre-investment phase
  • Investment phase (Implementation phase)
  • Operation phase (operation and ex-post evaluation)

UNIDO Project Cycle: Pre-Investment Phase

• Initial stage of assessment of viability, including market research, technical feasibility studies, financial projections, and environmental impact assessments
• Market Research: Analyzing market size, competition, customer demographics, and potential demand
• Technical analysis: Assessing the technical requirements, potential engineering challenges, and available technology
• Financial analysis: Estimating project costs, revenue projections, profitability, and return
• Environmental impact assessment: Identifying potential environmental risks and mitigation strategies
• Legal review: Examining relevant permits, regulations, and legal considerations
• A primary objective is to assess the feasibility and viability of the project idea and to develop a comprehensive project proposal
• Involves project identification, pre-selection, project preparation, and appraisal

UNIDO Project Cycle: Key Pre-Investment Activities

• This involves identifying potential project ideas that align with the development priorities and goals of the country or region
• Feasibility studies are conducted to assess the technical, economic, financial, social, and environmental viability of the project
• Project Design is based on the feasibility studies, and a detailed project design is developed
• It’s crucial to Stakeholder Engagement
• A thorough Risk assessment is to identify and analyze risks related to technical feasibility, market conditions, financing, and policy environment
• Partnership Development is also important
• It involves developing a Project Proposal
• It means Pre Investment

The Investment Phase

• Putting the project plan into practice
• Project Setup establishes management structures
• The project team collaborates with stakeholders and partners to ensure a smooth start to the implementation process
• There is Resource Mobilization for financial, human, and technical resources
• The team works to engage stakeholders
• Continuous Monitoring
• Regular Reporting
• There should be Change Management
• Periodic Review and Evaluation to evaluate the progress and impact of the project

The Operating phase (Operation and Ex-Post Evaluation)

• This is where the project is fully implemented and running
• Operation and Ex-Post Evaluation involves researchers studying the school's long-term effects on student achievement several years after its opening.
• It's sustainability and long-term impact is the main focus
• It includes relating activities to project handover, capacity building, as well as the evaluation of outcomes
• Project Handover means this phase, the project is handed over to stakeholders:
• This includes transferring ownership of physical infrastructure, technologies, and also knowledge generated for ensure
• This means providing Capacity Building to individuals and organizations to replicate the outcomes

More Operating Phase Considerations

• For Operation and Maintenance: Actions need establishing good management and inspection procedures, allocations for upkeep
• Through Monitoring and Evaluation, there is now assessment and evaluation. This also identifies lessons learned
• There should be Knowledge Sharing and Dissemination as well as Ex Post Evaluation --evaluating achievements after its completion
• Project Closure is the formal closure

S Choudhury"s Project Life Cycle (1988)

• Initiation: refers to the very first step in starting a new project, where the purpose, goals, scope, and key stakeholders are defined
  • Define the project scope and objectives
  • Identify stakeholders and their expectations
  • Conduct a feasibility study
• Project Definition clearly outlines the project's purpose, goals, and objectives. Stakeholder Identification entails engaging stakeholders to gather their needs and expectations
• Feasibility: assess the viability of the project in terms of technical, economic, and operational factors
• Risks: assess to Identify potential
• Resources: evaluate the resources as well as assess Approval from stakeholders

S Choudhury"s Project Life Cycle continued

• Planning entails defining steps, timelines, budget, tasks, and responsibilities needed to successfully complete the project
  • Detailed Project Plan
  • Resource Allocation
  • Risk Management
  • Budgeting
• Schedule Development: Create a time line for the project
• Quality Management: Plan for Quality Assurance and Control
• Execution is where plan is put action
  • Resource Management
  • Team Coordination
  • Communication
• Monitoring of Progress for assurance
• Closure: deliverables finalized and wrapped up such Stakeholder sign off

Project Identification

• It it the initial phase where potential project ideas occur
• During the project identification phase, activities that take place:
  • (1) Problem or Need Identification
  • (2) Feasibility Assessment
  • (3) Stakeholder Analysis
  • (4) Project Conceptualization
  • (5) Alignment with Development Goals
  • (6) Preliminary Cost Estimates

Project Identification: Definition of Project Idea

• It is a conceptual plan or suggestion for its future before it is fully put in motion
• It includes these parts
  • Problem or Need
  • Objectives
  • Scope
  • Activities
  • Expected Outcomes
  • Stakeholders
  • Resources

Sources of Project Ideas

• Engaging with stakeholders such as community members, beneficiaries, local organizations, government agendas and experts all provide potential project opportunity
• Identifying issues or challenges within a sector can lead to project ideas
• When project ideas align with the priorities that the policy priorities increase, this raises obtaining resources
• Projects to create solutions to environmental or to social issues is the beginning the rights

Micro Source of Project Idea

• When it comes to the micro source of project ideas that are often used for locating a smaller scale of project opportunities on a context specific that can arise within a particular community that can be used for generating ideas
• Stakeholder Feedback and Needs Assessment with the stakeholders is a valuable insight for what can be given assess
• Gap analysis assessing to reveal certain things such as an area can reveal gap or areas for improvement
• Organizational Objectives and Strategies certain organization is certain objects are priorities by the management or leadership
• Community initiatives which can spark different ideas and efforts from its numbers

4. PROJEC PREPARATION (FEASIBILITY STUDY)

• Markets and Demand Analysis helps understand their needs and desires and buying behavior
  • Market Size and Growth involves collecting data of the target markets
  • Target customers and segmentation
• Conduct Competition Analysis
• Look at Market trends and dynamics
• Analyze Customer Needs and Preferences
• Have Pricing and Revenue projections
• Assess for Market entry barriers and risks

Market Analysis

• Conduct primary market surveys to get information directly from the target audience
  • Define Research Objectives
  • Identify Target Audience (demographics, location. psychographics)
  • Design Survey Instruments (questionnaire or an interview guide)
  • Choose Data Collection Method
  • Sampling vs. Sample Size
  • Data Collection and Analysis
  • Interpretation of all actionable Insights
  • Be Ethical
• Use secondary information analysis to collect data someone else has already collected

Secondary Information

• Key is to have clearly defined objectives of the survey to know what data needed. Key steps:
  • Government Publications from a federal, regional, and local sources
  • Research Reports from academic groups and consulting firms
  • Market Research Reports as it regards information on consumer behavior
  • Industry Association and Trade Org
  • Academic journals with recent studies
  • online databases
  • News Media
  • Websites

Steps In sample market survey Include

• Clearly defined objectives as to what specifics
• Determine Target Audience
• Determine Sample Size large enough to statistically show result
• Sampling Method has to be appropriate
• Design instruments and pretest the survey with small groups
• Administer it and collect the data
• Interpret and write a comprehensive summary

Market Characteristics

• Describing the product or service in terms of
  • Effective demand in the past and present
  • Breakdown of demand/segmentation
  • Price and methods distributions
  • Promotion and consumers
• Assess Raw Materials and supplies
  • Source options
  • Supplier Evaluation
  • Supply chain
  • Cost

Costing

• Pricing and Cost Analysis
• Be mindful of Quality Assurance
• Consider Sustainability and environment
• Know supply chain resilience
• Manage Supplier Relationships
• Location and Site Analysis involves
  • Impact Assessment
  • Site Selection as to the type of project
  • Land Use regulations
  • Proximity to resources
  • Compatibility Factors

Site Selection

• Baseline data collection
• Identify direct and indirect impacts
• Mitigation and management measures
• Alternate analysis
• Engage Stakeholders
• Have an environmental plan for management
• Have reporting
• Assesses the project's performance
• This involves considering the variety of products and their impact on plant capacity as well as resource availability requirements

Calculating Capacity and Resources

• Assess the availability of resources required for production
• Calculate the theoretical and practical output of a plant
• Evaluate the capacity utilization rates
• Develop a capacity plan
• Conduct a cost benefit analysis to evaluate if improvements are need

Technology selection

• Choosing best Technology that is best suited by defining requirements
• Research the technology Available
• Evaluate features and Capabilities as relates to
  • Cost
  • Vendor Reputation
  • Scalability
  • Risk assessment
• In Decision Implement the selected technology and monitor

Organizational and Human Resource Study

• Organizational Structure:
  • Assess to see if the structure improves Communication, coordination and collaboration
• Job Analysis and Design (skills and qualifications required for each position)
• Employee Performance (performance appraisals?)
• Talent Acquisition and Retention (assess recruitment practices)
• Training and development (training resources)
• Leadership and Management (assess leadership styles)
• Organizational culture (company values and if they align) Employee and satisfaction (surveys and feedback)
• Change Management (how company manages change)

Financial Analysis

• Involves statements, other relevant financial data. All are useful for
  • Profitability
  • Liquidity
  • Solvency
  • efficiency
  • overall financial stability
• Can show Financial Ratio Analysis Trend and Comparative Analysis
• Will reveal the benefits of risk assessment, forecasting, capital, and future project analysis

UNIDO Initial Investment Factors

• Capital Expenditures
• Construction and Renovation Costs
• Technology and IT Infrastructure
• Inventory and Raw Materials
• Marketing and Advertising
• Legal and Regulatory Costs
• Professional Services
• Training and Education
• 9. Working Capital
• Contingency

Cost of Project Production

• Includes Raw material
• Labor
• Overhead
  • Factory or production costs
    • Factory/ production
    • Machinary

Key Marketing Cost Aspects

• (1) Advertising Expenses.
• (2) Promotional Activities
• (3) Digital marketing.
• (4) Market Research
• (5) Marketing, Tools

Financial Assessments

• Projecting cash flow means create accurate projection for success
• Benefits Cost Ratio (BCR
• Break Even analysis (BEA) a financial tool

The Project and its stages -- Comparisons

• Project Implementation: Putting a project in the plan in motion
• Monitoring: track the progress of the project such as identifying potential areas and issues
• The Evaluation Process: more assessment of effective sustainability and help for any effectiveness

Key Differences: Project and Stages

• Implementation: Focus on executing projects with the planning and meeting the need
• Montoring: tracking the progress
• Evaluation: assessment to over effectiveness for what had been done

Implementation: ensure that the project goes as intended

• Implementation: to make sure product is exactly planned as needed
•  Evaluation: determine in project success identifies the best practices