Project Management 101 Tips

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

What are the Characteristics of a Project?

  • It must be smart

  • Is Temporary (Clear start and end dates that correspond to what is required on the project schedule)

  • Is Undertaken for a purpose

  • It Consumes resources like Time, effort, money etc.

  • Unique. It results in a single verifiable end product.

  • One person responsible for each task assigned.

How do we know when we have gotten to the end of a project?

  • When the objective will or cannot be met.

  • When the need for the project no longer exists

  • When the project objectives have been achieved

  • If the client wishes to terminate the project.

Examples and Difference between Project and Operations

Designing a new website for a Law Firm - Project
Providing support for an already developed system - Operations
Delivering a Parcel to a client - Project
Handling an order for materials for a building - Operations

Factors to Consider - Difference between Project and Operations

  • Duration

  • End Results

  • Resources

  • Level of Uncertainty

  • Team Requirements (Guidelines vs Rules)

  • Types of Changes

  • Level of Automation

  • Differing objectives

  • States (Disequilibrium vs Equilibrium)

What is Project Management

  • It is the application of knowledge, skills, tools and techniques to project activities.

  • It has Ten knowledge area.

  • It involves five process groups.

  • It is concerned with achieving project goals and objectives in a timely, orderly and organized manner.

  • It is a shared understanding of what it takes to deliver products and services effectively and efficiently, individually as well as collaboratively.

10 Knowledge Areas of Project Management

  • Project Integration Management

  • Project Scope Management

  • Project Schedule Management

  • Project Cost Management

  • Project Quality Management

  • Project Resource Management

  • Project Communication Management

  • Project Risk Management

  • Project Procurement Management

  • Project Stakeholders Management