Project Management Guides

What is a Project
Definition of Project
features of a project
key considerations involved
The term Team
What are Project Processes?
What are Project Management Process-groups?
What is meant by Project Life Cycle of a project?
What is Project phase?
Tutorials Index
Project Management is the process of managing an entire project in an efficient and cost effective way. Time, Budget, Man power, Result everything should be cared and its a critical role for the success of a company. Here you will get some guides about the theory parts, tools used etc.

What is a Project?

Organizations perform different work. These works consist of operations or projects though some work may overlap. Similarity between operation and project are:

  • They are performed by people
  • Only limited resources
  • They are planned, executed and controlled

Difference between operations and projects are

  • Operations can be repetitive, meaning they are not unique
  • Operations are always ongoing, meaning they are not temporary

Definition of Project

Project can be defined as a temporary endeavor to create a unique product or service.

Newman et al. defined a project and described its value as simply a that cluster of activities that is relatively separate and clear cut. Its examples are designing a new package, building a plant etc.

It can be also defined as “any undertaking that has definite, final objectives representing specified values to be used in the satisfaction of some need or desire” by Ralph Currier Davis

What are the features of a project?

  • A distinct mission, that is a unique one
  • It has a clear termination point
  • It can be a part of a broader program
  • The chief virtue of a project is in identifying a nice, tidy work package within a bewildering array of objectives, alternatives and activities.
  • It can be undertaken at all levels of organizations or at cross-organizational levels also.
  • It may be often used as a means of implementing strategy.
  • It is progressively elaborated.

What are the key considerations involved in a project ?

  1. What is the cost?
  2. What time be required?
  3. What technical performance capability be provided?
  4. How will the project result fit into the design and execution of organizational strategies?

These questions need to be answered on an ongoing basis for each project.

Explain Team or what do you mean by the term “Team”?

Mostly modern organizations use alternative project teams to complement an existing organizational design. An outstanding feature of the team design is the departure from the traditional form of management in favor of a team form, in which there are multiple authority, responsibility and accountability relations, resulting in shared decision, result and reward. This team includes some of the teams that have already been mentioned, that are project teams, project engineering teams, task forces etc. But it also includes production, quality, product design, and crisis management teams.

What are Project Processes?

The classification mentioned below gives a clear picture of the dynamics and nature of project management.

  1. Project management processes group describes organizes and completes the project work.
  2. Product oriented processes specifies and creates the output or product of the project and they are defined in terms of phases of life cycle of a project.

They may overlap or interact throughout the entire project. And also these both are essential for any project.

What are Project Management Process-groups?

  1. Initiating processes authorize the project or the phase.
  2. Planning processes define or refine objectives and select the best alternative to achieve the desired objective.
  3. Executing processes coordinate people and other resources to carry out plan.
  4. Controlling processes control, monitor activities, measure performance, take corrective action and ensure objectives are met.
  5. Closing processes formalize acceptance of the project and bring the project into orderly end.

What is meant by Project Life Cycle of a project?

Project life cycle of a project is a group of sequential project phases, that’s name and number, are determined by the control needs of the organization and those organizations involved in the project.

What is Project phase?

Project phase is a cluster of logically related project activities that usually culminates in the completion of major deliverable, that is, able, tangible, verifiable outcome, result or item that should be produced to complete a project or part of a project.
 

PM Tutorials Index

Project Management Basic

Project Management Phases

Capital Budgeting & Expenditure

Project Management Tools

Other Tutorials