Project management is “the application of knowledge, skills, tools and techniques to project activities to bring about successful results and meet the project requirements.” It is the responsibility of the project manager to ensure that project management techniques are applied and followed. Project managers must not only strive to meet specific scope, time, cost, and quality requirements of projects, they must also facilitate the entire process to meet the needs and expectations of the people involved in or affected by project activities.
Project management is a process that includes initiating a new project, planning, putting the project plan into action, and measuring progress and performance. It involves identifying the project requirements, establishing project objectives, balancing constraints, and taking the needs and expectations of the key stakeholders into consideration. Planning is one of the most important functions you’ll perform during the course of a project. It sets the standard for the remainder of the project’s life and is used to track future project performance.
What is Project Management?
Project VS Operations:
Operations are ongoing and repetitive. They involve work that is continuous without an ending date, and you often repeat the same processes and produce the same results. The purpose of operations is to keep the organization functioning, while the purpose of a project is to meet its goals and to conclude. At the completion of a project, the end product (or result) may get turned over to the organization’s operational areas for ongoing care and maintenance. For example, let’s say your company implements a new human resources software package that tracks employees’ time, expense reports, benefits, and so on. Defining the requirements and implementing the software is a project. The ongoing maintenance of the software, adding / updating content, and so on are ongoing operations.
Example of Operations:
For example, Ford Motor Company is in the business of designing and assembling cars. Each model that Ford designs and produces can be considered a project. The models differ from each other in their features and are marketed to people with various needs. An SUV serves a different purpose and clientele than a luxury sedan or a hybrid. The initial design and marketing of these three models are unique projects. However, the actual assembly of the cars is considered an operation— a repetitive process that is followed for most makes and models.
What is Project Management Framework?
After understanding what is project management definition, we can say that key elements of this framework include the project stakeholders, project management process groups, knowledge areas, tools and techniques, project success, and the contribution of a portfolio of projects to the success of the entire enterprise. Each of these elements of project management is discussed in more detail in the following sections.
Managing a project typically includes, but is not limited to:
- Identifying requirements;
- Addressing the various needs, concerns, and expectations of the stakeholders in planning and executing the project.
- Setting up, maintaining, and carrying out communications among stakeholders that are active, effective, and collaborative in nature
- Managing stakeholders towards meeting project requirements and creating project deliverables;
- Balancing the competing project constraints, which include.
However, they are not limited to:
- Resources, and
Project Management Framework – Project Assumptions and Constraints:
Assumption is your belief or this is what you assumed to be true in the future, as explained in the phases of project management. The basis of assumption is your experience, knowledge, and the information available to you. Assumptions are supposed to be true, and if they happen to be wrong, it can have a significant effect on your project. Your risk management plan is dependent on these assumptions. If your assumptions go wrong then your risk management plan may not be as effective as it should be. Therefore, as a project manager, you must write down all assumptions for future verification and validation. You may also make amendment to it if needed. Some examples are:
- During the rainy season you may get cheap daily workers, and,
- You will be provided with all resources required by you.
According to many researched and faculty of best phd degree in project management, constraints are limitations imposed on the project, and you must work within the boundaries restricted by these constraints. Usually, constraints are the hurdles during your project execution process. The only way to deal with them is to document them properly and create a plan is such a way as to satisfy them. Some examples are: You must finish 25% of the project work within 30 days, and, You must work within the available resources.
Every project is constrained in different ways. Some project managers focus on scope, time, and cost constraints. These limitations are sometimes referred as the triple constraint. To create a successful project, project managers must consider scope, time, and cost and balance these three often-competing goals. They must consider the following:
What work will be done as part of the project? What unique product, service, or result does the customer or sponsor expect from the project?
How long should it take to complete the project? What is the project’s schedule?
What should it cost to complete the project? What is the project’s budget? What resources are needed? Other people focus on the quadruple constraint, which adds quality as a fourth constraint.
How good does the quality of the products or services need to be? What do we need to do to satisfy the customer?
What is Project Management Constraint?
Figure shows these six constraints. The triple constraint goals—scope, time, and cost—often have a specific target at the beginning of the project. For example, a couple might initially plan to move into their new 2,000 square foot home in six months and spend $300,000 on the entire project. The couple will have to make many decisions along the way that may affect meeting those goals. They might need to increase the budget to meet scope and time goals or decrease the scope to meet time and budget goals. The other three constraints—quality, risk, and resources—affect the ability to meet scope, time, and cost goals. Projects by definition involve uncertainty and resources, and the customer defines quality. No one can predict with one hundred percent accuracy what risks might occur on a project. Resources (people) working on the house might produce different results, and material resources may vary as well. Customers cannot define their quality expectations in detail for a project on day one. These three constraints often affect each other as well as the scope, time, and cost goals of a project.
For example, the couple may have picked out a certain type of flooring for most of their home early in the design process, but that supplier may have run out of stock, forcing them to choose a different flooring to meet the schedule goal. This may affect the cost of the project. Projects rarely finish according to the discrete scope, time, and cost goals originally planned. Instead of discrete target goals for scope, time, and cost, it is often more realistic to set a range of goals that allow for uncertainties, such as spending between $275,000 and $325,000 and having the home completed within five to seven months. These goals allow for inevitable changes due to risk, resources, and quality considerations.
Iinteresting fact about the project constraint is that if the constraints become false or no longer valid, it is most likely that your project will get benefit from it. Constraints are outside of your control – they are imposed upon your project either by the clients, by your organization, or by any government regulation.