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Project: completion of a required course in project management. Program: completion of all courses required for a business major.
projects.
Project managers who understand their organizations strategy can become effective advocates of projects aligned with the firms mission.
Worldwide IT spending continues to grow Success rate is still low (about 16-20%)
Knowledge explosion Corporate downsizing Increased customer focus Small projects that represent big problems
Variety
What is a Project?
A project is a:
Complex, non-routine and one time effort limited by time, budget, resources & performance spec.
PURPOSE
To accomplish some objective or goal
STRUCTURE
A set of interrelated jobs whose accomplishment leads to the completion of the project Jobs or activities consume time and resources and are governed by precedence relations
Local/ neighborhood:
A school function Cleanliness drive Tree plantation exercise / / / Welcoming a dignitary to the colony Construction of clubs Establishment of a park
Organizational:
Construction of building, highway A turnaround in a refinery Conducting a marketing survey / / / Planning & launching a new product A training for managers in the organization Completing a financial audit
National:
Launching a new satellite Poverty removal drive / / Literacy campaign Organizing general elections, annual budget
Global:
Organizing peace missions (UN) Conducting World Trade / / Space exploration Environment protection
What is a project?
A Project is an agreed upon set of resources and activities that have been designed to produce predetermined outputs within a given budget and time limit
A Temporary endeavor undertaken to create a unique product or service
(Project Management Institute, 2000)
Huge but limited Budget
Te r m temporary endeavor to create unique product Me ans that a Pr ojeLife ct Specific Fixed Has a beginning and end objective(s) Span
Involves effort, work Has an intention to produce something (project Scope Budget (Cost) "deliverables" Due Date (Time) than a collection of identical items One of a kind, rather
objects, includeand things like A Project Tangible is an agreed uponbut set could of resources activities that computer software, film or stage works have been designed to produce predetermined outputs within a service Might include the establishment of a day-care center, for instance, but not its daily operations. given budget and time limit
Features of Projects
Part of programs Multi-disciplinary Well defined collection of jobs Generally non-repetitive, one time effort Jobs interrelated through precedence Jobs consume time and resources Constant pressure of conformance to time/cost /performance goals Conflicts Coordination needed between individuals, groups & organizations
Time over run Under JNNURM had exceeded the estimated cost Of Rs 476.3 crores. Likely to cross scheduled Scope creep Date of completion Premature closure Hindustan Times, Apr 26,2008 Projects funded by the World Bank Poor quality (post project evaluation) On average, operations evaluated in 2004 took 37 percent longer Cost escalation to implement than originally scheduled, down from 48 percent in 2003, Of the projects in $0.5-$3mn range IT Challenges of resource mismatch & utilisation and 54 percent in the 1989-99." 92% went over schedule. "Evaluation Results for 2004," Among projects planned to takeWorld moreBank, 2005 Operations Evaluation Department, than 1 year 86% went over schedule (KPMG-2001)
51-100% Late 9%
Source: Standish Group Survey, 1999 (from a survey of 8000 business systems projects)
Why?
www.standish.org
DRDO Projects
Kaveri Engine for LCA is running late by 16 years and the cost has escalated by around 800 per cent
.. What has become clear people and process have greater effect on project outcome than technology !
PMI Study
Challenges
Project management is the application of knowledge, skills, tools and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project. Project Management Institute, 2000 By providing tools to aid in :
task sequencing,
Project Management is a process and this process dependency analysis, saves you from the nightmare of project failure.
resource allocation, scheduling, etc.
BOTH
Motivation
Complexity of Projects Implementation vs Planning
Increasing Risk
Projects
Providing Flexibility
Focus& Commitment
PROJECT PLANNING
Work breakdown structure Basic Scheduling Time/Cost tradeoffs Resource loading Resource Leveling Limited Resource Allocation Simulation
PROJECT COMPLETION
Accounting Audit &Report writing Handing over project to user Disbanding project team Disseminating learning's from project.
PROJECT IMPLEMENTATION
Project Monitoring and control (Earned value analysis) Redefining priorities
Percent Completion
Starts Slow
Time
FIGURE 1.1
Post implementation
Completion Termination
Implementation
Cost of resources
Timing of solutions to technological problems
Improved productivity.
Better internal coordination.
PROJECT IDENTIFICATION
State B
State A
Project Identification
OBJECTIVE
External
BRAINSTORMING (SWOT, Emerging trends) Internal Objectives To increase profits To minimize threats of losses To become more competitive ALTERNATIVES To provide help after a disaster To train people in a new area To reduce pollution in Delhi Screenng entrepreneur Criteria To become a successful CANDIDATE PROJECT SELECTION
SWOT
STRENGTHS Experience and expertise Financial position Capital raising capability Industrial contacts Foreign collaborations THREATS Competitors Poor state of the economy Outdated technology Unprofessional management skills New products and services
WEAKNESSES Newer unfamiliar technologies Inability to raise huge investments Lack of experience Lack of trained personnel Inability to forecast market trends OPPORTUNITIES Emerging technologies New products with new markets New processes with better features Special financing schemes Government and other incentives
Thankyou
A project is complete when it starts working for you, rather than you working for it.