Project Management Basics

Question 1

Project Manager’s Success Criteria

Answer 1

 Project Duration
 Project Cost
 Project Scope
 Resources Management
– People
– Equipment
– Materials

Question 2

Product Life Cycle Phases

Answer 2

 Research & Development
 Market Introduction
 Growth
 Maturity
 Deterioration
 Death

Question 3

What Is Project Management?

Answer 3

 Management of people, equipment and
materials to accomplish work with tradeoffs
(management of risk) of time, cost and quality

– Communication (# 1)
– People management
– Structured approach to organize work
– Logical methodology
– A model of the real world
– Control system
– A way of life

Question 4

How do we get work done?

Answer 4

Management Of Resources:
 People
 Equipment
 Materials

Question 5

Triple Constraint

Answer 5

 Time
 Cost
 Scope/Performance/Quality

Question 6

How Do We Measure/Track?

 Time

 Cost

 Scope/Performance/Quality

Answer 6

How Do We Measure/Track?

 Time - Schedule

 Cost - Budget

 Scope/Performance/Quality - Specifications

Question 7

What Is A Project?

Answer 7

“A project is a temporary endeavor undertaken
to create a unique product, service, or result.”
Source: PMI - PMBOK

 Temporary - definite beginning and end
 Unique - different in some distinguishing way from all other products or services

Question 8

Projects vs. Operational Work

Answer 8

“Projects and operations differ primarily in that
operations are ongoing and repetitive while
projects are temporary and unique.”
Source: PMI - PMBOK

Question 9

Worry Curve

Answer 9

Project management will shift the curve to the left.

Question 10

Why Do Projects Fail?

Answer 10

The Standish Group, 1995 study of 8,380 IT projects from 365 respondents:

• 31.1% Projects Canceled
• 52.7% over budget (189% of their original estimate), over the time estimate offers fewer features and functions than originally specified
• 16.2% completed on-time and on-budget (only 9% for large companies)

Question 11

Project Success Factors

Answer 11

 User Involvement 15.9%
 Executive Management Support 13.9%
 Clear Statement of Requirements 13.0%
 Proper Planning 9.6%
 Realistic Expectations 8.2%
 Smaller Project Milestones 7.7%
 Competent Staff 7.2%
 Ownership 5.3%
 Clear Vision & Objectives 2.9%
 Hard-Working, Focused Staff 2.4%
 Other 13.9%

Source: The Standish Group

Question 12

Critical Success Factors – Metrics

Answer 12

1. Owner is informed of the project status and his/her approval is obtained at each stage – Project completed on time or ahead of schedule
2. Owner is consulted at all stages of development and implementation – Milestones are identified and met
3. Proper communication channels are established at appropriate levels in the project team – Deliverables are identified
4. The project has a clearly defined mission – The scope of the project is clearly defined and quantified
5. Top management is willing to provide the necessary resources (money, expertise, equipment) – Activities and logical sequences are determined and scheduled (CPM)
6. The project achieves its stated business purpose – Project completion is precisely defined
7. A detailed project plan (including time
   schedules, and milestones) with a detailed budget in place – The project is completed within a predetermined budget
8. The appropriate technology and expertise are available – Resource requirements are identified and supplied as needed
9. Project changes are managed through a formal process – Responsibilities are assigned
10. The project is completed with minimal and mutually agreed scope changes – A specific new technology is adopted and accepted by end users

Question 13

Why Do Projects Fail?

Answer 13

 Communications (#1 issue)
 Lack of funding
 Unqualified people
 Unavailable resources
 Timing unreasonable
 Changing customer’s wants
 Undefined project scope
 Technology not available
 Lack of management support

Question 14

How To Measure Failure or Success?

Answer 14

 Time
 Cost
 Scope / Quality / Performance