Review of Important Questions BBM(IB),IPM Session-1.

The word project was first used in or around the sixteenth century and derives from the Latin

trajectory, a certain relationship with space and time. The implied process involves: a point of departure used as a base, from which one throws oneself forward towards a goal.

projicere (= throw forward). The Latin root thus suggests movement, a

A Project is a temporary attempt or endeavor made to produce some kind of a tangible or intangible result (a unique product, service, benefit, competitive advantage, etc.). PMBOK defines a project as a temporary endeavor undertaken to create a unique product, service or result. The temporary nature of projects indicates a definite beginning and end. The end is reached when the projects objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists.

The PMBOK Guide defines project management as the application of knowledge, skills, tools and techniques to project activities to meet project requirements. In other words, it involves planning, organizing, monitoring and controlling the project activities in order to accomplish the project requirements.

Project management is a methodical approach to planning and guiding project processes from start to finish. According to the Project Management Institute, the processes are guided through five stages: initiation, planning, executing, controlling, and closing. Project management can be applied to almost any type of project and is widely used to control the complex processes of software development projects.

Program Management is the management (nontechnical) of several projects at the same time taking into consideration their interdependencies as well the organization's goal. Program Managers deal with Project Managers, as well as upper management/high profile stakeholders. Project Management is usually about managing one project and getting that project done. Project Managers deal directly with resources.

Program management is about defining and achieving organizational objectives through the management of complex projects and resources. It differs from project management as project management focuses on delivering a single project whereas program management coordinates multiple, related projects and operations toward achieving a common strategic objective.

Projects are unique: all projects stem from new ideas. They provide a specific response to a need (problem) in a specific context. They are innovative. Projects are an adventure: every project is different and ground-breaking; they always involve some uncertainty and risk. Projects can be assessed: projects are planned and broken down into measurable aims, which must be open to evaluation.

Projects are limited in time and space: they have a beginning and an end, and are implemented in a specific place and context. Projects are complex: projects call on various planning and implementation skills, and involve various partners and players. Projects are collective: projects are the product of collective Endeavour. They are run by teams, involve various partners and cater for the needs of others.

Projects have a purpose: projects have clearly-defined aims and set out to produce clearly-defined results. Their purpose is to solve a problem, and this involves analyzing needs beforehand. Suggesting one or more solutions, it aims at lasting social change. Projects are realistic: their aims must be achievable, and this means taking account both of requirements and of the financial and human resources Available.

Projects are made up of stages: projects have distinct, identifiable stages. Projects have a definite start and end, meaning they have a defined duration. Projects have temporary teams of people, assembled or teamed to perform the specific tasks and these teams are generally dismantled/disbanded after completion of the project.

Monitoring project progress and performance. Providing status reports to the project sponsor. Managing project training within the defined budget. Liaison with, and updates progress to, project steering board/senior management. Managing project evaluation and dissemination activities. Managing consultancy input within the defined budget. Final approval of the design specification. Working closely with users to ensure the project meets business needs. Definition and management of the User Acceptance Testing programme. Identifying user training needs and devising and managing user training programmes.

Managing and leading the project team. Recruiting project staff and consultants. Managing co-ordination of the partners and working groups engaged in project work. Detailed project planning and control including: Developing and maintaining a detailed project plan. Managing project deliverables in line with the project plan. Recording and managing project issues and escalating where necessary. Resolving cross-functional issues at project level. Managing project scope and change control and escalating issues where necessary.

Standard Project
Scope Limited scope

International Remark Project

Much wider scope Complex To source technolgy,skills, resources. Language and socio-cultural diversities. Traveling, Entry and exit visa issues, time zone differences, list of holidays Higher labour , managerial ,travel & lifestyle maintenance costs. Currency impact.

Communication

Simpler

Time

Easy to manage less duration

Complex to manage, large duration More costly

Cost

Less costly

Standard Project
Quality Acceptable

International Project
Higher expectations Complex

Remark
International quality benchmarking. Travel, logistics, Facilities,Weathe r,Political & social issues. Higher quality,Reputati on,Political,HSE risks.

Human Resources

Simpler

Risk

Low

High

Construction of Bridge,Dam,Building,Mall,School,Hospital Launching new product Expansion of factory capacity Developing a new software program/application Diversification Implementation of SAP ERP System in an organization

Launching a new pharmaceutical drug/medicine Research and development Launching a Corporate training center Launching a new Educational Program Hollywood and Bollywood movie production Planning a students educational tour/picnic