Project Management

10th December 2012

(tenrox, 2012)

What is Project Management?

Project Management is the application of Knowledge, Skills, Tools and Techniques to project activities to meet requirements of the project. The Project Management Institute adds another important component to the above definition as " It’s a strategic competency for organizations, enabling them to tie project results to business goals — and thus, better compete in their markets".

Process Groups in Project Management [Stages in Project Management](projectinsight, 2012)

(constructionchat, 2012)

1. Project Initiation - An idea for a project will be carefully examined here to determine whether or not it will bring benefits to the organization. During this phase, a decision making team will identify if the project can realistically be completed. 
2. Planning - A project plan may be put in writing, outlining the work to be performed. During this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources are needed.There are 9 steps carried out in this stage. They are: 

• Integration
• Time Management
• Quality Management
• HRM Management
• Procurement Management
• Cost Management
• Risk Management
• Communication Management
• Scope Management

   3.  Executing - Resources' tasks are distributed and teams are informed of responsibilities. This is a good  time to bring up important project related information.After this stage is completed a "Status Report" is developed.

  4. Monitoring & Controlling - Project managers will compare project status and progress to the actual plan, as resources perform the scheduled work. During this phase, project managers may need to adjust schedules or do what is necessary to keep the project on track.

  5. Closing/ Completing - After project tasks are completed and the client has approved the outcome, an evaluation is necessary to highlight project success and/or learn from project history.

Why Manage Projects?

Projects are managed to ensure the project will produce the expected results as the output. This increases the chances of success and optimization of resources while managing the stake holders expectations.
These expectations are of 2 types:

1. Stated Expectations - Clearly explained expectations
2. Implied Expectations - Provides an expectation that can be accessible. Costs does not incur to fulfill Implied Expectations. 
 Eg: User Friendliness of the System. 

What is "Triple Constraint?

(pmhut, 2012)

The Triple Constraint Mentions that (projectsmart, 2012):

• Projects must be delivered within cost.
• Projects must be delivered on time.
• Projects must meet agreed scope, no more - no less.
• Projects must also meet customer quality requirements.

Project Scope & Feasibility

1. Aims and Objectives of this Project - Analyzes the reason why a company requires Information Systems for its project 
2. What will the project not do - The content of the project that will be done and the content that will not be covered within this project. 
3. Is the project feasible in terms of: 
• Cost - will its save the time and effort of people
• Technicality - is the technology advanced enough to suit the project
• Socially - Are the people ready to accept the project
• Organizationally -  Will it be useful and fit in with the business requirements.

Skills required for Project Management

1. Hard Skills -
   
     Hard skills often involves in the creation of a tangible deliverable leadership, More technical in Nature, Often incorporate the use of a tool (scheduling software; spreadsheets; presentations) or
   deliverable templates. (projectmgmt.brandeis, 2012)
2. Soft Skills - 
    Also known as "Interpersonal Skills". This includes traits such as leadership, communication, negotiation, expectations management, influencing, problem-solving, and decision-making. Soft skills are largely intangible, not associated with a deliverable or a concrete output, and they are generally employed without the use of tools or templates. (projectmgmt.brandeis, 2012)
    

Reference

1. What is Project Management[Online]. Available on: http://www.pmi.org/About-Us/About-Us-What-is-Project-Management.aspx (Viewed on: 14th December 2012) 
2. 5 Basic Phases of Project Management[Online]. Available on: http://www.projectinsight.net/project-management-basics/basic-project-management-phases.aspx  (Viewed on: 14th December 2012)
3. Understanding the Project Management Triple Constraint[Online]. Available on: http://www.projectsmart.co.uk/understanding-the-project-management-triple-constraint.html
   (Viewed on: 14th December 2012) 
4. Balancing Project Management Hard Skills & Soft Skills [Online]. Available on: http://projectmgmt.brandeis.edu/downloads /BRU_MSMPP_WP_Feb2012_Balancing_Project_Management.pdf(Viewed on 26th December 2012).
   

Images List

1. http://www.tenrox.com/en/enterprise-project-management/  
2. http://www.constructionchat.co.uk/topics/project-management/ 
3. http://www.pmhut.com/the-triple-constraints-model-and-its-disappearance-from-the-pmbok