Project managment

Definition of a project.

A project is a temporary and endeavor undertaken to create a unique product, service or result. The temporary nature of project indicates that a project has a definite beginning and end. The end is reached when the projects objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists.

Every project creates a unique product, service, or result.  The outcomes of the project may be tangible or intangible. Although the repetitive elements may be present in some project deliverables and activities, this repetition does not change the fundamental unique characteristics of the project work. For example, office buildings can be constructed with the same or similar materials and by the same or different teams. However, each building project remains unique with a different location, different design, different circumstances and situations, different stakeholders and so on.

A project can create.

• A product that can be either a component of another items.

• A service or a capability to perform a service.

• An improvement in the existing product or service.

• A result, such as an outcome or document.

Managing a project typically includes, but is not limited to

• Identifying requirements.

• Addressing the various needs.

• Setting up, maintaining and carrying out communications among stockholders.

• Balancing the competing constraints, which the following

1. Scope.     2. Quality.   3. Schedule.   4. Budget.  5. Resources. 6. Risks 

The relationship among these factors is such that if any one factor changes, it will affect the other. For example, if the schedule is shortened, often the budget needs to be increased to add additional resources to complete the same amount of work in less time. If a budget increase is not possible, the scope or target value may be reduces.

Progressive elaboration allows a project management team to define work and mange it to a greater level of detail as the project evolves.

Relationship among portfolio, program and project.

The relationship among portfolio, programs, and projects is such that a portfolio refers to a collection of projects, programs, sub portfolios, and operations managed as a group of archive strategic objectives. Programs are grouped with in a portfolio and are comprised of subprograms, projects, or other work that are managed in a coordinated fashion in support of the portfolio. Individual project that are either within or outside of a program are still consider a part of a portfolio. Although the project or programs with in the portfolio may not necessarily be interdependent or directly related, they are linked to the organizations strategic plan by means of the organization portfolio. Organization strategies and priorities are linked and have relationship between portfolios and programs, and between program and individual projects.

Relationship among portfolio management, program management, projection management and organization project management.

In order to understand portfolio, program and project management , it is important to recognize the similarities and differences among these disciplines. It is also helpful to understand how they relate to organizational project management OPM.

OPM is the framework used to align project, program and portfolio management practices with organizational strategy and objectives, and customizing and fitting these practices within the organization context, situation, or structure.

Portfolio, program and project management are aligned with or driven by organizational strategies. Conversely, portfolio, program and project management are differ in the way that each contribute to the achievement of strategic goals. Portfolio management aligns with organizational strategies by selecting the right program or projects. Whereas program management harmonizes its project and program component. project management develops and implements plans to achieve a specific scope that is driven by the objective of the program or portfolio. OPM advances organizational capability by linking project, program, and portfolio management principles and practices with organizational enablers to support strategic goals.

Project  management.

Project management is the application of knowledge, skills, tools and techniques to project activities to meet the project requirements. PM is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time. The challenge of project management is to achieve all of the project goals within the given constraints.

Program management.

A program is defined as a group of related or similar projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually. A project may or may not be a part of a program but a program will always have a project.

Example.  For instance, assuming, you have two projects, the first project is to construct a school building and the second project is to construct an office building. Since these two projects are similar, you will keep them under a program.

Program management is the application of knowledge, skills, tools and techniques to meet program requirements and to obtain benefits.

Program management focuses on the project interdependencies and helps to determine the optimal approach for managing them.

Difference between project management and program management.

• In project management , you manage one individual project, while in program management you manage multiple similar or related project.

• A project can be a part of program but a program cannot be a part of project.

• Program management addresses the management of project management, while program management help you set the program management processes and measure the project results.

Portfolio management.

Portfolio refers to a group of related or non-related projects or programs. A portfolio can consist of multiple program or multiple projects without having a single programs. A portfolio can have multiple non similar projects without having a program because portfolio management deals with two or more non related projects. Conversely in program management only related projects are managed.

For instance, assuming, you have three projects, the first project is to construct a building, the second project is to conduct research to find the impact of motor pollution on the environment, and the third project is to set up a call center. 

Now you will manage this project by keeping them under a portfolio because all three projects are neither related nor similar to each other.

Portfolio management has a bigger scope and objective than program management.

There is centralized management in portfolio management, whose job is to identify, prioritize, and authorize the project or program. 

Difference between portfolio management and program management.

• You manage similar project in program management, while in portfolio management you manage non similar project or different programs.

• The scope for program management is broader than the project scope and portfolio has an organization wide scope which changes with the strategic objective of the organization.

Project and strategic planning.

Project is often utilized as a mean of directly or indirectly achieving objectives within an organization strategic plan. Project is typically authorized as a result of one or more of the following strategic considerations.

• Market demand “a car company authorizing a project to build more fuel efficient cars”

• Social needs “ a non-government organization in a developing country authorizing a project to provide portable water system, latrines and sanitation”

• Environmental consideration “ a public company authorizing a project to create a new service for electric car sharing to reduce pollution”

• Legal requirement “a chemical manufacture authorizing a project to establish guidelines for proper handling of a new toxic material.”

Project management office.

A project management office “ PMO”  is a group of department within a business, government agency, or enterprise that defines and maintains standards for project management within the organization. The PMO strives standardize and introduce economies of repetition in the execution of projects.

Types of PMO structure in organization

1. Supporting PMO

Supporting PMOs provide a consultative role to projects by supplying templetes, best practices and training.

2. Controlling PMO.

It provides a moderate level of the controlling functions framework. The big theme of controlling PMOs is governance and conformance.

3. Directive PMO.

These types of PMOs are top level controlling PMOs. That means they directly mange the project.

The PMO integrates data and information from corporate strategic projects and evaluates how higher level strategic objectives are being fulfilled.

A PMO may have the authority to act as an integral stakeholder and a key decision maker throughout the life of each project, to make recommendations, or to terminate projects or take other actions, as required, to remain aligned with the business objectives.

Difference between the role of project manager and PMOs 

• The project manager Focuses on the specified project objective, while the PMO manages major programs, scope changes.

• The project manager controls the assigned project resources to best meet project objectives, while the PMO optimizes the use of shared organizational resources across all projects.

• Project manager manage the constraints “ scope, schedule , cost, quality etc” of the individual projects, while the PMO manage the methodology , standards, overall risks etc.

Difference between project management and operation management.

Operations management is an ongoing organizational function that performs activities to produce products or supply services. For instance, production operations, manufacturing, service management, and accounting operations. Furthermore, operations are permanent endeavors that produce repetitive outputs.

In contrast, projects are temporary and help the business to meet organizational goals and to respond quickly and easily to the external environment. Organization use projects to change operations, products and services to meet business need, gain competitive advantage and respond to new markets. 

Projects can intersect with operations at various points during the product life cycle 

• At each closeout phase.

• Upgrading a product.

• While improving operations.

• Until the end of the product life cycle.

Stakeholders.

A stakeholder is an individual, group , or organization who may effect activity decision or outcome of a project. Or a stakeholder is a person , group of people or an organization that has an interest in your project or is effected by its outcome either directly or indirectly. This may include your project team member, project sponsors, your organization members and people outside of your organization as well.

Operational stakeholders in project management.

While operational management is different from project management, the need of stakeholders who perform and conduct business operations. Project manager who consider and appropriately include operational stakeholders in all phase of the projects, and avoid unnecessary issue that often arise when their input is overlooked.

Operational stakeholders should be engaged and their need identified as part of the stakeholder register and their influence “ positive or negative “ should be addressed as part of the risk management plan.

Examples of operational stakeholders.

• Plant operator.

• Training officers.

• Line manager. 

• Retail worker.

• Maintenance worker

• Sales sponsor.

• Help desk staff.

Organizations and project management.

Organizations use governance to establish strategic direction and performance parameter. The strategic direction provides the purpose, expectations and goals of objectives. The project management activities should be aligned with top level business direction, and if there is a change, then project objectives need to be realigned. 

Project base organizations.

Project based organizations refers to various organizational form that create temporary system for carrying out their work. PMBs can be created by different types of organizations. The use of PBOs may diminish the hierarchy and bureaucracy inside the organizations.

PBOs can refer to either entire firms “as telecommunication, oil and gas, construction, consultancy and professional services”.

Published by Science Tube, 08 September 20020