This document outlines the key components of a project, including objectives and rationale, strategic significance, scope and deliverables, approach and plan, timeframe and budget, structure and resources, communication strategy, assumptions and dependencies, risks and mitigations, and measures of success. It explains that all projects require integration of these elements to be completed on time, within budget, and meeting specifications.

1. 1.3. COMPONENTS OF
PROJECT

2. A project whether it is small or big , simple
or complex needs its various elements to
be integrated in such a way that the
project is completed in time within budget
and resources whilst meeting
performance specifications.

4. Objective and rationale
 Objectives of project are what the effort is directed to achieve by
the end of project. Project objectives also let teams know what they
should be focused on, what they should devote resources to, and how
their activities serve wider project and institutional goals. Objective
can be breakdown into key steps for assuring project overall
success.
 Example of objective of project can be :
A. Developing capabilities of worker in BBSM by improving
competitive intelligence .

5. Strategic significance
 Making a project strategy help to break the vision into
actionable steps .
 It is roadmap for success and helps built a hierarchy of
purposes without a well defined strategy project may stall or
even fail.
 Examples of strategies in project can be
1. Allocating specific task to team members
2. Balancing the budget and resource
3. Optimizing the time frame

6. Scope and deliverables
 Scope is the work, broken down, that is required to achieve the goal
of the project.
 Project scope is a detailed outline of all aspects of a project,
including all related activities, resources, timelines, and deliverables,
as well as the project's boundaries.
 A deliverable is a tangible or intangible good or service produced as
a result of a project that is intended to be delivered.
 A deliverable could be a report, a document, a software product, a
system upgrade, technology integration or any building construction.

7. Approach project plan
A project approach refers to the set of
methods, practices, and processes applied to
plan, control, and accomplish a project.
 It is what allows project managers to
logically and systematically make decisions
that will move their project forward.

8. Timeframe and Budget
 A project has a limited time frame within which it has to accomplish
what it intends to
 Creating a timeline suitable for the specific timeframe helps in
organizing the work that needs to be done and hold the team
member accountable for completing the work in time. A well
designed time management plan helps to clear direction and
priorities.
 A project budget is the total estimated cost of completing each
project activity over each phase of a project
 It is important as it helps set expenditure expectations and is critical
in getting project approval, ensuring funds at the right time.

9. Structure and resources
 Project structure is a framework determined by the authority, roles, and
responsibilities of the team members within the existing organizational
structure.
 In a project-based structure, members are assigned to projects and report to
the project manager.
 Project resources are components that are necessary for successful project
implementation. They include mind, muscle, money and motivation– basically,
anything that you may require from the project planning to the project delivery
phases.
 Resource management is the process of planning, scheduling, and allocating
resources necessary for successful project delivery.

10. Communication strategy
 A communication strategy shows how information will be
disseminated to, and received from, all stakeholders
involved in project.
 A project management communication plan identifies how
important information will be communicated to
stakeholders throughout the project. It also determines
who will be receiving the communication, how those people
will receive it, when they'll receive it, and how often they
should expect to receive that information.

11. Assumption/dependencies
Project Assumption can be defined as a statement that
is generally considered to be a true without any proof
or evidence. It is one of the major factors in planning
process.
A project dependency can defined as an association
between two activities, in which one activity requires
input from the other. It simply means that one activity
is reliant on the other for its start or completion.

12. Risks and mitigations
 Even the most carefully planned project can run into trouble.
 A risk is any uncertain event or condition that might affect your project. For eg
hailstorm or a important resource being unavailable
 A risk mitigation plan is designed to eliminate or minimize the impact of the risk
events
 The project team may mitigate risks in various ways:
• Risk avoidance.
• Risk sharing.
• Risk reduction.
• Risk transfer.

13. Measure of success
 It's important to measure the success of a project so the project
team can track progress and identify any process improvements.
 Measuring project success provides valuable insight into customer
and team satisfaction, aids in continuous improvement, and
supports future decisions.
 Project evaluation allows a project team to reflect on the success
and failure of a project based on metrics set by the team.
 Measure of success of a project can be determined by reviewing
project scope, evaluating project specifications, analyzing the
project budget, and reviewing client and internal satisfaction.