1. Key Concepts: Definition of a Project Characteristics of a Project
WHAT IS A PROJECT?
Key Concepts:
Definition of a Project
Characteristics of a Project

2. What Is a Project?
A project is “a temporary endeavor undertaken to create a unique product, service, or result.”*
Operations is work done to sustain the business.
A project ends when its objectives have been reached, or the project has been terminated.
Projects can be large or small and take a short or long time to complete.
*PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (2004), p. 5.

3. PMI Definition
“A temporary endeavor undertaken to create a unique product or service”
Source: A Guide to the Project Management Body of Knowledge, Project Management Institute Standards Committee, p. 167, 1996

4. What is Project Management?
“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, PMBOK 2000

5. What is Project Management?
Application of Knowledge/Skills/ and Tools/Techniques to Project Activities
Meet/Exceed Expectations

6. Project Attributes? Temporary, with unique purpose Goal-directed
Collaborative
Resources constrained
Endeavor
Uncertainty

7. Project Management Tools and Techniques
Project management tools and techniques assist project managers and their teams in various aspects of project management.
Specific tools and techniques include:
Project charters, scope statements, and WBS (scope).
Gantt charts, network diagrams, critical path analyses, critical chain scheduling (time).
Cost estimates and earned value management (cost).

8. PM Development Goals According to specification (Scope)
Schedule (Time)
Within Budget (Cost)

9. Why the emphasis on project management?
Many tasks do not fit neatly into business-as-usual.
Need to assign responsibility and authority for achievement of organisational goals.

10. Characteristics of Projects
Unique
Specific Deliverable
Specific Due Date

11. Other Common Characteristics of Projects
Multidisciplinary
Complex
Conflict
Part of Programs

12. PROJECT MANAGEMENT VS. GENERAL MANAGEMENT
Projects
Unique
Finite
Revolutionary charge
Unbalanced objectives
Transient resources
Operations
Repetitive on going
Evolutionary change
Equilibrium
Balanced objectives
Stable resources

13. Examples of a Project A project can be of any type;
Opening a restaurant
Constructing a building
Launching a new product

14. Skill Requirements for Effective Project Management
Conflict Resolution
Creativity and Flexibility
Ability to Adjust to Change
Good Planning
Negotiation
win-win versus win-lose

15. WHAT IS MANAGED? THE THREE GOALS OF A PROJECT
Performance
Cost
Time

16. Performance, Cost, and Time Project Targets

17. The Triple Constraint of Project Management

18. How do these work?
You are thinking about planning a holiday abroad as a project.
How would you define:
Performance
Cost
Time?

19. THE LIFE CYCLES OF PROJECTS
Start
Activity
Finish

20. Project Life Cycle Initiating Processes Planning Processes
Executing/Implementation Processes
Controlling Processes
Closing Processes
S-Shape Curve
J-Shape Curve

21. The Project Life Cycle

22. An Alternate Project Life Cycle

23. Project Management Framework