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Instructor:
Instructor: Syed
Syed M.
M. Zubair
Zubair Azam
Azam
Lecture 1
What
What is
is aa Project?
Project?
Project Defined
A project is a temporary endeavor undertaken to
create a unique product or service or result (PMI,
2013)
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Triple
Triple Constraints
Constraints
Projects are evaluated
according to
accomplishment, cost and
time spent. These triple
constraints pose a high
degree of accountability
than you typically find in
most jobs.
These three also highlight
one of the primary
functions of project
management, which is the
trade-off between time,
cost and performance
while ultimately
satisfying the
customer/client.
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Project
Project Success
Success An
An Example
Example
Burj Khalifa
Tallest Man-made Structure in the World.
Started on 6th, January 2004 and completed on 30th,
December 2009.
Took 1,325 Days to construct and Opened on 4th,
January 2010.
Total cost incurred was USD $ 1.5 billion = AED
5509725000.00.
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Project
Project Success
Success Burj-Khalifa
Burj-Khalifa
Records
Tallest existing structure: 829.8 m (2,722 ft)
Tallest structure ever built: 829.8 m (2,722 ft)
Tallest freestanding structure: 829.8 m (2,722 ft)
Tallest skyscraper (to top of spire): 829.8 m (2,722 ft)
Tallest skyscraper to top of antenna: 829.8 m (2,722 ft)
Building with most floors: 163 (previously World Trade
Center 110)
Building with world's highest occupied floor: 584.5 m
(1,918 ft)
World's highest elevator installation (situated inside a rod at
the very top of the building)
World's longest travel distance elevators: 504m (1,654 ft)
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Project
Project Success
Success Burj-Al-Khalifa
Burj-Al-Khalifa
Records
Highest vertical concrete pumping (for a building): 606 m
(1,988 ft).
World's tallest structure that includes residential space.
World's highest observation deck: 148th floor at 555 m
(1,821 ft)
World's highest outdoor observation deck: 124th floor at 452 m
(1,483 ft)
World's highest installation of an aluminium and glass faade:
512 m (1,680 ft)
World's highest nightclub: 144th floor
World's highest restaurant (At.mosphere): 122nd floor at 442 m
(1,450 ft)
World's second highest swimming pool: 76th floor
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Projects
Projects -- Examples
Examples
GiTex Shoppers.
RetailME Awards 2015.
Making of 300: Rise of an Empire, Avatar,
KungFu Panda and every movie.
Launch of iPhone 6s.
Muhammad Bin Rashid City.
Madinat Jumeirah expansion.
Almost everything else.
All of Mankinds greatest accomplishments
from building the great pyramids to discovering a
cure for polio to putting a man on moon began
as a project.
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Portfolio,
Portfolio, Program
Program and
and Projects
Projects
Portfolio
A collection of Projects and Programs that are
grouped together for pursuing objectives focused on
business strategy.
Program Defined
A series of coordinated, related, multiple projects that
continue over an extended time and are intended to
achieve a goal.
Examples:
Project:
Program:
AdoptedfromPMBOK,5thedition,p.8.
RelationshipbetweenPortfolioManagement,ProgramManagementandProject
RelationshipbetweenPortfolioManagement,ProgramManagementandProject
Management
Management
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110
Project
Project Life
Life Cycle
Cycle
Adopted From Gray, Larson, & Desai. (2014). Project Management: the managerial process (6e), McGraw-Hill
Publishers.
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Business
Business Value
Value
The
The Challenge
Challenge of
of Project
Project Management
Management
The Project Manager
Manages temporary, non-repetitive activities and
frequently acts independently of the formal
organization.
Marshals resources for the project.
Is linked directly to the customer interface.
Provides direction, coordination, and integration
to the project team.
Is responsible for performance and success of the
project.
Project
Project Management
Management Process
Process Groups
Groups
Activitie
s
Process
Groups
Project Charter
Stakeholder
Register
Key
Outputs
Knowledge
Knowledge Areas
Areas
A project manager is responsible for applying and managing the
following ten knowledge areas:
Integration
Identify, define, combine, unify and coordinate activities within the Project
Management Process Groups
Scope
Ensure the project includes all work required to complete the project
successfully
Time
Cost
Quality
Human
Resources
Communicatio
n
Risk
Procurement
Stakeholders
Knowledge
Knowledge Areas
Areas and
and Process
Process Groups
Groups
Activity within each knowledge area is applied based on the
appropriate process group.
Process Groups
Knowledge
Areas
(Below)
Initiating
Planning
Executing
Monitoring &
Controlling
Closing
Integration
Applicable
Applicable
Applicable
Applicable
Applicable
Scope
Applicable
Applicable
Time
Applicable
Applicable
Cost
Applicable
Applicable
Quality
Applicable
Applicable
Human Resources
Applicable
Applicable
Communication
Applicable
Applicable
Risk
Applicable
Procurement
Applicable
Stakeholders
Applicable
Applicable
Applicable
Applicable
Applicable
Applicable
Applicable
Current
Current Drivers
Drivers of
of Project
Project Management
Management
Factors leading to the increased use
of project management:
Compression of the product life cycle
Knowledge explosion
Triple bottom line (planet, people, profit)
Corporate downsizing
Increased customer focus
Small projects represent big problems
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Project
Project Governance:
Governance:
An
An Integrative
Integrative Approach
Approach
Integration (or centralization) of project
management provides senior management with:
An overview of all project management activities
A big picture of how organizational resources are used
A risk assessment of their portfolio of projects
A rough metric of the firms improvement in managing
projects relative to others in the industry
Linkages of senior management with actual project
execution management
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Alignment
Alignment of
of Projects
Projects with
with
Organizational
Organizational Strategy
Strategy
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Alignment
Alignment of
of Projects
Projects with
with
Organizational
Organizational Strategy
Strategy
Problems resulting from the uncoordinated
project management systems include:
Projects that do not support the organizations overall
strategic plan and goals.
Independent managerial decisions that create internal
imbalances, conflicts and confusion resulting in
dissatisfied customers.
Failure to prioritize projects results in the waste of
resources on non-value-added activities/projects.
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Major
Major Functions
Functions of
of Portfolio
Portfolio Management:
Management:
The
The Science
Science and
and Art
Art of
of Project
Project Management
Management
Oversee project selection.
Monitor aggregate resource levels and skills.
Encourage use of best practices.
Balance projects in the portfolio in order to represent a
risk level appropriate to the organization.
Improve communication among all stakeholders.
Create a total organization perspective that goes beyond
silo thinking.
Improve overall management of projects over time.
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Whats
Whats been
been covered
covered in
in this
this Lecture?
Lecture?
1. Projects: An Introduction
1.
2.
3.
Key
Key Terms
Terms
Portfolio
Program
Project
Project life cycle
Project Manager
Project Management Professional (PMP)
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