This document provides an introduction to project management. It defines a project as a temporary endeavor undertaken to create a unique product, service or result. Key characteristics of projects are that they are temporary, create a unique product or service, drive change and enable value creation. Project management is the application of knowledge, skills, tools and techniques to project activities to meet requirements. The importance of project management includes meeting business objectives, satisfying stakeholders, increasing chances of success and optimizing resource use. Strategy, portfolios, programs and projects are different, with strategy as the overall plan and projects as the lowest level of temporary work.

1. LECTURE01–BID3104
INTRODUCTION
TO
PROJECT MANAGEMENT
SHANJAYASINGHE

2. ◦ Distinguish a project from routine
operations
◦ Understand the differences between
Project, Program, and Portfolio
◦ To explain why project management is
crucial in today‘s world.
◦ To establish the importance of projects in
implementing organisation strategy.
Learning Objectives

3. Projects Vs Operations
Organisation
Projects Operations
Temporary
Repetitive and
ongoing
Performed by
people
Constrained by
limited resources
Planned, executed
and controlled

4. Characteristics of a Project
Temporary
Creates a product,
service or result
Drive change
Enable value
creation
• Objectives achieved or
cannot be met
• Funding is exhausted
• Need for the project is no
more
• Required human resource is
not available
• Terminated due to a legal
issue

5. Characteristics of a Project
Temporary
Creates a product, service
or result
Drive change
Enable value creation

6. Characteristics of a Project
Temporary
Creates a product,
service or result
Drive change
Enable value
creation
Source: PMBOK 6th Edition

7. Characteristics of a Project
Temporary
Creates a product,
service or result
Drive change
Enable value
creation
Tangible Elements
• Monetary assets
• Hard assets
• Market share
Intangible Elements
• Goodwill
• Brand recognition
• Reputation

8. What is a Project?
A temporary endeavour undertaken to create a
product, service, or result (i.e., achieve an
objective) that could drive change and enable
value creation

9. Project Initiation Contexts
Source: PMBOK 6th Edition
A chemical
manufacturer
authorises a project
to establish
guidelines for the
proper handling of
a new toxic material
A stakeholder
requires that a new
output be produced
by the organisation
A training company
authorises a project
to create a new
course to increase its
revenue
An electronic firm
authorises a new
project to develop a
faster, cheaper, and
smaller laptop

10. What is Project Management?
The application of knowledge, skills, tools, and
techniques to project activities to meet project
requirement

11. The Importance of Project Management
• Meet business objectives
• Satisfy stakeholder expectations
• Be more predictable
• Increase chances of success
• Deliver the right product at the
right time
• Resolve problems and issues
• Respond to risks in a timely manner
• Optimse the use of firm resources
• Identify, recover, or terminate
failing projects
• Manage constraints
• Manage change in a better manner

12. Strategy, Portfolio, Programs, and Projects
Source: PMBOK 6th Edition
Strategy - general plan to achieve
one or more long-term or overall
goals under conditions of
uncertainty
Portfolio – A collection of
projects, programs, subsidiary
portfolios, and operations
managed as a group to achieve
strategic objectives
Program – A group of projects,
and programs that are managed
in a coordinated manner to
obtain benefits not available
managing them individually

13. Strategy, Portfolio, Programs, and Projects

14. A project life cycle is the series of
phases that a project passes
through from its start to its
completion. These phases are
called a development life cycles.
Development life cycles can be
predictive, iterative, incremental,
adaptive, or hybrid
The project life cycle is managed by
executing a series of project
management activities known as project
management processes. Every project
management process produces one or
more outputs from one or more inputs
by using appropriate project
management tools and techniques

17. THANK YOU
10/9/2022
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