ABC Of Project

Management
Nkem Joseph-Palmer MBA
AGOGO ENTREPRENEURSHIP INITIATIVE
08099901395, 08037093585
nkem@aggogong.com

Oh Dear, What Can The Matter Be?

Business is a game, played for fantastic stakes, and youre in competition with
experts. If you want to be a win, youve got to learn to be a master of the
game- Sydney Sheldon
The basic decisions are involved in every business:

- The Investment Decision

- The Financing Decision
- The Dividend Decision
The Koko of the matter: MAKING SUSTAINABLE PROFITS!!!

Current economic downturn has kicked businesses in the guts!

Businesses must set sustainable goals!

The Inverted or Reversed Pyramid

Goals- Mission Derived
Objectives- Vision
Derived
Strategies
Targets
Tasks

Where Do Profits Come From?

Despite the economy or politics, businesses must survive and be
sustainable!
Armed robbers and mortuaries make profit too!!

Simplistically, Profit= Revenue Expenditure

Profits can come from either increasing revenue or reducing expenditure!!
Revenue is generated by OPERATIONS
Operations give birth to PROJECTS!!!
So does Customer request, Business need/strategic opportunity, Innovation,
Technology, Legal requirements, Market demand and the Environment

What Is A Project in Swahili?

MRADI
Uchoyo au uzembe tu wanaweza mar mradi huu na thamani ya sasa
Only greed or mismanagement can mar this worthwhile project now
A project is a specific endeavor that has a definite time bracket
(beginning and end) and produces a unique deliverable, which could be a
service, a product or a result
In simple English: a variety of specific tasks that must be completed within a
specific timeframe for a set amount of money is called project

Getting Down To Earth

We need to roll up our sleeves and face the problem:
Businesses make profit from projects
What are your experiences with projects? Good or bad?

Only 34% of projects succeed (there is a difference between ending a

project and meeting success baselines or parameters)
Implies that only 34% of future projects have a chance of succeeding
The average project has 43% guarantee of being over the budget

Schedules tend to be overreached and time wasted on the average

project
Project inefficiencies cost lots of money, and is a major source of leakages
for companies

So How Do We Then Manage Projects?

PLAN ORGANIZE CONTROL
Project Management is the process of initiating, planning, executing,
controlling and closing out a set of activities through the application of
knowledge, skills and techniques
This process spans through five (5) phases to provide better management
and control of the given project to accomplish the project goal.
Collectively, these phases are known as the PROJECT LIFE CYCLE

Thats The Project Life Cycle!

1
Initiation
phase

5
Closing out
phase

4
Controlling
phase

2
Planning
phase

Project
lifecycle

3
Execution
phase

A B C Of Project Management
Project management is both a SCIENCE and an ART
Throw away the academics and consider these ABCs in the next slides
We need to get our businesses to work at the desired baselines!!!

A
Always properly define what you are involved in: is it a project, program or
portfolio?
Always demand for or draft a project charter before you start a project

Always ensure a project management office is set-up in any organization

you are associated with, no matter the scale
Always ensure the PMO appoints a certified and experienced project
manager
Always ensure your employ expert judgement

B
Be certain that you know who your stakeholders are and ensure proper
stakeholder identification and analysis have been done
Basic project management software can be of immense support to project
activities
Beware of constraints: Constraints limit the options of a project manager
Be cognizant of all the project management knowledge areas: scope
management, time management, cost management etc.
Be very careful with supply chain management and procurement

C
Cultivate project management habits and processes within your
organization
Collect project data (especially towards lessons learnt documentation)
and ensure that organizational process assets are re-usable
Capable project managers must have interpersonal skills and general
management skills such as negotiation, leadership and mentoring
Cut out waste of every type in terms of money, time or scope
Consider reviewing your project processes annually; create a project
review board
Consider this always: Projects can only be successful when the are properly
run to meet the defined baselines. #nogoldplating!!

Wrap Up!

QUESTIONS???
THANKS FOR LISTENING..