1. Project management is both a science and an art and follows a systematic
process. The project management breaks into process group and
knowledge areas.
Process group – It follow the high level process of project management:
initiating, planning, executing, monitoring & controlling and closing.
Knowledge areas – The knowledge area are integration, scope, time, cost,
quality, human resource, communications, risk, procurement and
stakeholder management.
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2. Project Management
Manages effort to develop specific scope, which support the portfolio or program
management objectives and ultimately the organizations strategic goal.
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Organizational Project Management
Provides a strategic framework to use & guide portfolio, program, and project
management to deliver organizational strategy.
Portfolio Management
Select and prioritizes programs and projects that will best and achieve the
organization strategic goal
Program Management
Coordinates the management of related projects to achieve specific benefits
that support the organization specific goal.

3. Project – A project is a temporary endeavor with a finite completion date
undertaken to create a unique product or services.
OR
A project is a set of activities which are networked and aimed towards
achieving a common goal.
Management – is the technique of understanding the problems, needs and
controlling the use of resources such as cost, time, manpower and materials.
Process – A process is part of project cycle which consist of simple and
routine instructions to achieve a desired results of any activity of the project.
The project management process includes the management efforts of
initiating, planning, executing, monitoring and controlling and closing the
project.
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4. I = Initiating (Start)
P = Planning (Plan)
E = Executing (Do)
M&C = Monitoring &
Controlling (Check & act)
C = Closing (End)
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I
P
EM&E
C
Design - P Code - E Test – M&E Transition - C
SMALL PROJECT WITH PREDICTIVE LIFE CYCLE
Research - I

5. Project cycle – consists of the various activities of operations, resources and the
limitations imposed on them. There are many different types of project life cycle,
depending on the types of product being developed. Project life cycle range from
plan-driven to change-driven.
 Plan-driven projects have predictive life cycles that require scope , schedule, and
cost to be determine in the life of the project, before the work begin to produce the
project deliverables.
 Change-driven projects, use iterative , incremental, or adaptive (agile) life cycles
and will have varying levels of planning for scope, schedule, and cost.
• Adaptive life cycle involve fixed time and cost, scope is broadly defined as the
project progresses.
• Incremental and iterative life cycle involve of high-level scope enough to allow for
preliminary estimates of time and cost; scope is developed a more with each iteration.
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6. Resource – The resource of a project refers to manpower, machinery, money and
materials which are required in the project.
Scope – Scope of the project refers to the various parameters that affect the project in
its planning, formulation and execution.
Project cost – Project cost is the budgeted expenditure of the project. The cost
management fits into the project management process:
1. Plan cost management.
2. Estimate cost – The cost involved in all efforts needed to complete the project :
• Costs of quality efforts.
• Costs of risk efforts.
• Costs of project manager time.
• Costs of project management activities.
• Costs directly associated with the project , including labour, material, training for
the project, computers etc.
• Expenses for physical office spaces directly for the project.
• Overhead cost, such as management salaries and general offices expenses.
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7. Types of Cost : The cost can be either variable or fixed:
• Variable Costs – These cost changes with the amount of production or the amount
of work. Eg: Cost of material, supplies and wages.
• Fixed Cost – These cost does not change as production changes. Eg: Cost of set-up,
rent, utilities, and wages.
A cost can be either direct or indirect:
• Direct Costs – These costs are directly attributable to the work on the project. Ex:
team travel, team wages, cost of material used in the project.
• Indirect Costs – Indirect cost are overhead items Ex: taxes, fringe benefits.
3. Determine Budget – The project manager calculates the total cost of the project
to determine the amount of funds the organization needs for the project. The results
of this calculation is called the budget. The cost baseline is the portion of the
budget the project manager will have control over.
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8. Thursday, January 22, 2015 8
8. Activity Estimates
7. Management Reserves
6. Cost Baseline
5.Contigency Reserves
4. Project Estimates
3. Control Account Estimates
2. Work Packages Estimates
1. Activity Estimates
Creating a Budget

9. 1. Analysis & Evaluation Phase (Initiating): is the initial phase of any project.
Information is collected from the customer pertaining to the project.
• Specification Requirement Analysis – SRA has to be conducted to determine
the essential requirements of a project to achieve the target.
• Feasibility Study – has to be conducted to analyse the project is technically,
economically and practically feasible.
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Business need
Begin a new phase of the project
Project has so many problems that
you reevaluate the business need.
Project Initiating

10. •Trade-off analysis – has to be conducted to understand and examine the various
alternatives which could be considered for solving the problem.
• Estimation – Before starting a project, estimation has to be conducted on the
project cost, effort required for the project, and functionality of various processes
in the project.
• System design – has to be chosen to fulfill the requirement.
• Project Evaluation – has to be evaluated in terms of expected profit, cost and
risk involved.
2. Marketing (Planning) – A project proposal is prepared by the group of
people including the project manager.
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Project initiating is
completed
Project Planning

11. 3. Design Phase – involves the study of inputs and outputs of the various
project stages.
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Inputs Received Output Produced
Project Feasibility study
Preliminary project evaluation
details
Project proposal
Customer Interviews
System Design Specification
Function Specification of the
project
Design specification of the project
Project plan

12. 4. Execution Phase – The project manager and the team members work on the
project objectives. At every stage during the execution, reports are prepared.
5. Control – Inspection, testing and delivery – The project team works under
the guidance of the project manager. The project manager has to ensure the team
is implementing the projects designs accurately. The project has to be tracked or
monitored through its cost, manpower and schedule.
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Project planning is
completed.
Integrated change control
results in a changed project
management plan.
Project Executing

13. Key Outputs That Trigger Project M&E and Potential Next Steps
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Requested changes,
including corrective
and preventive action
and defects repair
from all source .
Work Performance Data
Deliverables
Project
Monitoring &
Controlling
Project Initiating to
review the project
charter.
Project executing to
repair defects and
implement the
approved changes
including corrective
and preventive
actions
Project closing if the
project is completed
or terminated

14. 5. Closure and post completion analysis phase – Upon satisfactory
completion and delivery of the intended product or service, the staff has to be
evaluated.
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Project phase is
completed
Project is completed
Procurement is
completed
Project or procurement is terminated
Project Closing