Project Management – Quick Study Notes (Simple

Words)

UNIT 1: Introduction to Project Management

1. What is Project?
A project is a temporary activity done to create a unique product,
service, or result. It has a fixed start and end date.
Features of a Project
 Temporary in nature
 Has a clear objective
 Unique purpose
 Requires resources (money, people, time)
 Involves uncertainty/risk
Example:
Building a website, constructing a house, organizing an event.

2. What is Project Management?

Project management means planning, organizing, managing and
controlling a project to achieve goals successfully.
Main Goal:
Complete project within:
 Time
 Cost/Budget
 Scope/Work

3. Advantages of Project Management

Why companies use project management?
Benefits:
✅ Better control of money and resources
✅ Better customer relationship
✅ Lower costs
✅ Better quality work
✅ Faster completion of work
✅ Better coordination among team members
4. Triple Constraint (Very Important)
Project success depends on 3 major constraints:
1. Scope
What work has to be done.
2. Time
Project deadline.
3. Cost
Money/budget required.
Remember:
If scope increases → time and cost may also increase.

5. Forefathers of Project Management

Henry Gantt
 Father of planning and control techniques
 Famous for Gantt Chart
Henri Fayol
 Developed management functions
 Basis of project management principles

6. Project Management Knowledge Areas (Very Important)

You may get short note questions.
1. Integration Management – combines project activities
2. Scope Management – controls project work
3. Time Management – completes project on time
4. Cost Management – controls budget
5. Quality Management – maintains quality
6. Human Resource Management – manages people/team
7. Communication Management – manages information flow
8. Risk Management – handles risks/problems
9. Procurement Management – buying goods/services
Easy Trick to Remember:
I STC QHCRP
(Integration, Scope, Time, Cost, Quality, HR, Communication, Risk,
Procurement)

7. Project Management Approaches

Different ways to manage projects:
 Agile – flexible method
 Incremental – step-by-step
 Interactive – repeated improvements
 Phased Approach – work completed in stages

8. Project Life Cycle ⭐ (Very Important – 10 Marks)

Project Life Cycle = Stages through which every project passes.
1. Initiation Phase
Project idea starts.
Activities:
 Define scope
 Appoint project manager
 Select team
 Create project charter
2. Planning Phase
Detailed planning is done.
Activities:
 Task assignment
 Risk analysis
 Timeline preparation
 Resource planning
3. Execution Phase
Actual work starts.
Activities:
 Implement project plan
 Testing
 Reviews
  Monitoring work
4. Monitoring & Controlling
Check progress and solve issues.
Activities:
 Compare planned vs actual work
 Fix delays/problems
5. Closure Phase
Project officially ends.
Activities:
 Customer approval
 Final report
 Lessons learned
 Team release
Easy Memory Trick:
IPEMC
(Initiation → Planning → Execution → Monitoring → Closure)

9. Deliverables
Deliverables are outputs/results produced in a project.
Example:
 Final software
 Project report
 Prototype/model

10. Project Stakeholders ⭐

Stakeholders are people or organizations affected by a project.
Important Stakeholders
1. Project Manager – manages project
2. Customer – uses product/service
3. Project Team – does project work
4. Sponsor – gives money/resources
5. Organization – company executing project
Example:
For a college event:
 Students = team
 Principal = sponsor
 Audience = stakeholder

11. Qualities of a Good Project Manager ⭐

Very important question.
Essential Skills:
1. Leadership skill
2. Communication skill
3. Problem-solving skill
4. Time management skill
5. Interpersonal skill
6. Team development ability
A Good PM Should:
 Listen more
 Communicate clearly
 Build trust
 Solve problems quickly
 Keep customer informed

12. Responsibilities of Project Manager

Planning
Define objectives and goals.
Organizing
Arrange people and resources.
Controlling
Track progress and solve issues.

13. Types of Organizational Structure ⭐

1. Functional Structure
Employees work in departments.
Example:
HR, Marketing, Finance work separately.
Advantage: Specialization
Disadvantage: PM has less authority.

2. Projectized Structure
Teams are fully project-based.
Advantages:
 PM has high authority
 Fast communication
Disadvantage:
 Team dissolves after project completion.

3. Matrix Structure
Mix of functional + project structure.
Types:
 Weak Matrix
 Balanced Matrix
 Strong Matrix
Easy Remember:
Weak → less PM power
Balanced → equal power
Strong → more PM power

UNIT 2: Project Scope Management

1. What is Project Scope?
Scope means all the work required to complete the project successfully.
It defines:
✅ What work will be done
✅ What work will NOT be done
Simple Meaning:
Scope tells us the boundaries of a project.
Example:
If a company wants a website:
Included → Homepage, Login page, contact page
Not Included → Mobile App

2. What is Project Scope Management?

Project Scope Management means defining and controlling project work
so only required work is completed.
Main Purpose:
To ensure project team and stakeholders clearly understand:
 What product will be made
 What process will be followed

3. Objectives of Scope Management

Why is it important?
✅ Prevent extra/unnecessary work
✅ Avoid confusion
✅ Save time and money
✅ Ensure project stays on track
✅ Meet customer expectations

4. Scope Management Processes ⭐ (Very Important)

There are 5 main processes in scope management.

1. Scope Planning
It means preparing a plan about how project scope will be defined,
verified and controlled.
Includes:
 Scope definition process
 Scope control method
  WBS preparation
Simple meaning:
Planning the work before starting.
Example:
Before creating an app, company plans what features are required.

2. Scope Definition
It means preparing a detailed description of project work.
Purpose:
 Clarify project requirements
 Avoid misunderstandings
 Help future decisions
Simple meaning:
Clearly writing what project includes.
Example:
Website project includes:
 Login page
 Payment system
 Dashboard

3. Work Breakdown Structure (WBS) ⭐⭐⭐

Very Important Topic
WBS means dividing a large project into small manageable tasks.
Purpose of WBS
✅ Easier planning
✅ Better control
✅ Easy task assignment
✅ Better tracking
Example of WBS
Website Project
Website Development
→ Design
→ Coding
→ Testing
→ Launch
Simple meaning:
Breaking big work into small parts.

4. Scope Verification
It means getting formal approval from customer or stakeholders.
Purpose:
To confirm that deliverables are acceptable.
Example:
Client checks website and says:
“Yes, this is exactly what we wanted.”
If customer is unhappy → corrections are made.

5. Scope Control ⭐
It means managing changes in project scope.
Includes:
 Identifying changes
 Evaluating changes
 Implementing approved changes
Simple meaning:
Controlling unnecessary changes.
Example:
Customer suddenly asks for 20 extra features.
Project manager checks budget and timeline before approval.

5. Scope Planning Inputs, Tools & Outputs

Inputs
Things needed before scope planning:
1. Enterprise environmental factors
2. Organizational process assets
3. Project Charter
4. Preliminary Project Scope Statement
5. Project Management Plan
Tools & Techniques
  Expert judgment
 Templates
 Forms
 Standards
Output
Project Scope Management Plan

6. Scope Statement ⭐
A scope statement is a written document explaining:
 Project objectives
 Deliverables
 Project boundaries
 Assumptions
 Constraints
Simple meaning:
A document explaining the complete project work.

7. Scope Creep ⭐⭐⭐ (Most Important)

Very common exam question.
What is Scope Creep?
Uncontrolled increase in project work without increasing time, money
or resources.
Simple meaning:
Extra work added unexpectedly.
Example:
Client asks:
“Add one more feature.”
Then another feature.
Then another.
Result:
❌ Delay in project
❌ Increased cost
❌ Team pressure
How to Control Scope Creep?
✅ Clear requirements
✅ Proper documentation
✅ Customer approval
✅ Scope control system

8. Importance of WBS (Very Important)

Benefits of WBS:
 Makes work easier
 Helps assign responsibilities
 Better scheduling
 Better cost estimation
 Easy progress tracking
Remember line:
WBS breaks complex work into smaller manageable tasks.

9. Difference Between Scope Verification & Scope Control

Scope Verification Scope Control

Managing scope
Customer approval
changes

Checks deliverables Prevents extra work

Done after work Done throughout

completion project

1. What is Project Time Management?

Project Time Management means planning and controlling project
activities to complete the project on time.
Main Objective:
✅ Complete project within deadline
✅ Avoid delays
✅ Proper scheduling of activities
Simple meaning:
Managing time so project finishes on schedule.

2. Importance of Time Management

Why is it important?
✅ Helps complete work on time
✅ Avoids delays
✅ Improves planning
✅ Better use of resources
✅ Helps control project progress

Unit 3. Time Management Processes ⭐⭐⭐ (Very Important)

There are 6 important processes in Project Time Management.

1. Activity Definition
It means identifying all tasks required to complete the project.
Purpose:
 Identify project work
 Create activity list
  Define milestones
Simple meaning:
Finding out what work needs to be done.
Example:
For Website Project:
 Design page
 Coding
 Testing
 Launch

2. Activity Sequencing ⭐
It means arranging activities in the correct order.
Purpose:
To know:
Which activity happens first and which later.
Example:
Design → Coding → Testing → Launch
Testing cannot happen before coding.

3. Activity Resource Estimating

It means estimating resources needed for each activity.
Resources Include:
 Employees
 Machines
 Materials
 Technology
Example:
For coding:
Need 2 software developers.
Simple meaning:
Deciding what resources are needed.

4. Activity Duration Estimating ⭐

It means estimating how much time each task will take.
Example:
Design = 5 days
Coding = 15 days
Testing = 7 days
Simple meaning:
Calculating time for every task.

5. Schedule Development ⭐⭐⭐

Very Important Topic
It means preparing the complete project schedule/timeline.
Includes:
 Activity sequence
 Time estimation
 Resource planning
 Deadlines
Simple meaning:
Creating the full project timetable.
Example:
Website completion in 30 days.

6. Schedule Control ⭐
It means monitoring and controlling delays in the project schedule.
Purpose:
 Identify delays
 Take corrective action
 Keep project on track
Simple meaning:
Checking whether project is running on time.

4. Inputs, Tools & Outputs of Activity Definition

Inputs
Things needed:
1. Enterprise environmental factors
 2. Organizational process assets
3. Project Scope Statement
4. WBS
5. WBS Dictionary
6. Project Management Plan
Tools & Techniques
 Decomposition
 Templates
 Rolling Wave Planning
 Expert Judgment
Outputs
 Activity List
 Activity Attributes
 Milestone List
 Requested Changes

5. What is Milestone?
A milestone is an important event or achievement in a project.
Example:
✔ Project approval
✔ Testing completed
✔ Final delivery completed
Simple meaning:
Major checkpoints in a project.

6. Gantt Chart ⭐⭐⭐ (Very Important)

A Gantt Chart is a visual chart used to show project schedule and
progress.
It shows:
 Activities
 Start date
 End date
 Progress
Example:

Activi Day
ty s

Desig
5
n

Codin
15
g

Testin
7
g

Simple meaning:
Timeline chart of project activities.
Advantages:
✅ Easy tracking
✅ Better planning
✅ Shows deadlines clearly

7. Network Diagram ⭐
A network diagram shows sequence and dependency of activities.
Simple meaning:
Flow of project tasks.
Example:
Planning → Design → Coding → Testing → Launch

8. Critical Path Method (CPM) ⭐⭐⭐

Most Important Topic
What is Critical Path?
The longest sequence of activities in a project that determines project
completion time.
Simple meaning:
If one activity in critical path gets delayed → whole project gets
delayed.
Example:
Design → Coding → Testing → Launch
If coding gets delayed by 5 days → entire project delays.
Importance:
✅ Identifies important activities
✅ Avoids project delay
✅ Helps better scheduling

9. Dependencies in Activities
Dependencies mean relationship between activities.
Example:
Coding cannot start before design finishes.
Types:
1. Mandatory Dependency – must happen in order
2. Discretionary Dependency – preferred order
3. External Dependency – depends on outside factors

10. Schedule Delay Causes

Common reasons for delay:
❌ Poor planning
❌ Lack of resources
❌ Wrong time estimation
❌ Scope changes
❌ Technical problems

11. Difference Between Activity Definition & Sequencing

Activity Activity
Definition Sequencing

Arrange order of
Identify tasks
tasks

What work to When work will

do happen
UNIT 4: Project Cost & Risk Management
PART A – PROJECT COST MANAGEMENT
1. What is Project Cost Management?
Project Cost Management means planning, estimating, budgeting and
controlling project costs so the project is completed within approved
budget.
Main Objective:
✅ Complete project within budget
✅ Control expenses
✅ Avoid overspending
Simple meaning:
Managing money spent on a project.

2. Importance of Cost Management

Why is it important?
✅ Controls budget
✅ Reduces waste of money
✅ Helps profit generation
✅ Prevents project failure

3. Cost Management Processes ⭐⭐⭐

There are mainly 3 steps:
1. Cost Estimation
Calculating how much money project will require.
Example:
Website Project:
 Design = ₹20,000
 Coding = ₹50,000
 Testing = ₹10,000

2. Cost Budgeting
Preparing a final budget plan.
Simple meaning:
Total money allocation for project.

3. Cost Control
Monitoring project spending and controlling extra costs.
Simple meaning:
Checking if spending is under budget.

4. Important Financial Methods ⭐⭐⭐ (Very Important)

1. NPV (Net Present Value)
NPV measures whether a project is profitable or not.
Formula:
NPV = Present Value – Investment Cost
Meaning:
✔ Positive NPV = Good project
❌ Negative NPV = Avoid project
Example:
Investment = ₹1,00,000
Expected Return = ₹1,50,000
→ Positive NPV = Project accepted

2. ROI (Return on Investment)

ROI measures profit earned from investment.
Formula:
ROI = Profit / Investment × 100
Example:
Investment = ₹50,000
Profit = ₹10,000
ROI = 10,000 / 50,000 ×100 = 20%
Simple meaning:
How much profit we earn.

3. Payback Period
Time required to recover invested money.
Example:
Investment = ₹1,00,000
Profit per year = ₹25,000
Payback Period = 4 years
Simple meaning:
How quickly money comes back.

PART B – PROJECT RISK MANAGEMENT

5. What is Risk?
A risk is an uncertain event that may positively or negatively affect
project objectives.
Example Risks:
 Employee leaving project
 Budget increase
 Delay in materials
 Technical issue
Simple meaning:
Anything that can create problems in project.

6. What is Project Risk Management?

Project Risk Management means identifying, analyzing and controlling
risks in a project.
Main Goal:
✅ Reduce problems
✅ Increase success chance
✅ Prepare backup plan

7. Risk Management Process ⭐⭐⭐ (Very Important)

There are 6 main processes:

1. Risk Management Planning

Planning how risks will be handled.

2. Risk Identification ⭐
Finding possible risks in project.
Example:
Software crash risk.

3. Qualitative Risk Analysis

Checking seriousness of risk using:
 Probability
 Impact
Simple meaning:
Finding dangerous risks.

4. Quantitative Risk Analysis

Numerically analyzing risks.
Simple meaning:
Measuring risk in numbers.
5. Risk Response Planning ⭐
Preparing solutions to reduce risk.
Example:
Risk = Employee leaves
Solution = Keep backup employee.

6. Risk Monitoring & Control

Tracking risks throughout project.
Simple meaning:
Continuously checking risks.

8. Types of Risks
1. Technical Risk
Technology failure
2. Financial Risk
Budget shortage
3. Organizational Risk
Staff issues
4. External Risk
Government policy changes, weather problems

9. Risk Breakdown Structure (RBS) ⭐

A structure used to classify project risks.
Categories:
 Technical risks
 Organizational risks
 External risks
Simple meaning:
Organizing risks into categories.

PART C – PROJECT COMMUNICATION MANAGEMENT

10. What is Communication Management?
Communication Management means sharing project information
properly among team members and stakeholders.
Simple meaning:
Right information to right people at right time.

11. Importance of Communication

Why is it important?
✅ Avoid misunderstanding
✅ Better teamwork
✅ Better decision making
✅ Faster problem solving

12. Types of Communication ⭐

1. Formal Communication
Official communication.
Example:
Emails, reports

2. Informal Communication
Casual communication.
Example:
Phone calls, chats

3. Verbal Communication
Speaking directly.
Example:
Meetings

4. Written Communication
Written messages.
Example:
Reports, emails

13. Communication Plan

A communication plan defines:
  Who communicates?
 What information?
 How often?
 Communication method
Simple meaning:
Plan for information sharing.

14. Importance of Meetings

Meetings help:
✅ Discuss project progress
✅ Solve problems
✅ Share updates
✅ Improve coordination

UNIT 5: Communication & Project Closure

1. What is Project Closure?
Project Closure is the final stage of project management where all
project activities are completed and the project is officially finished.
Main Purpose:
✅ Officially close project
✅ Ensure all work is completed
✅ Get customer approval
✅ Record lessons learned
Simple meaning:
Finishing the project properly.

2. Importance of Project Closure

Why is project closure important?
✅ Ensures project goals are achieved
✅ Checks whether customer is satisfied
✅ Helps identify mistakes and improvements
✅ Releases resources for future projects
✅ Closes all documents and payments

3. Objectives of Project Closure

Main objectives:
 Complete pending work
 Submit final product/service
 Obtain formal customer approval
 Close contracts and payments
 Archive project documents
 Learn from project experience

4. Project Closure Process ⭐⭐⭐ (Very Important)

During closure, project manager checks:
1. Completion of Project Work
Ensure all tasks are completed.
Example:
Website project is fully developed and tested.

2. Scope Verification
Compare completed work with project plan to ensure everything
promised is delivered.
Simple meaning:
Checking if all promised work is completed.

3. Formal Acceptance by Client ⭐

Customer officially approves project.
Example:
Client says:
“Yes, project is successfully completed.”
This is very important because project officially ends only after
approval.

4. Documentation & Records

All important project files are stored.
Examples:
 Reports
  Contracts
 Cost records
 Designs
 Project plans
Simple meaning:
Keeping project information safely.

5. Lessons Learned ⭐
Team records:
 What went well
 What mistakes happened
 How to improve next time
Example:
Problem:
Testing took too much time.
Improvement:
Start testing earlier in next project.

6. Resource Release
After project completion:
 Team members are released
 Equipment returned
 Budget closed
Simple meaning:
Freeing project resources.

5. Components of Project Closure Report ⭐⭐⭐

Very Important Question
A project closure report includes:
1. Formal Acceptance
Approval by customer.
2. Weighted Critical Measurements
Comparing initial requirements with final product.
Simple meaning:
Checking whether project objectives are achieved.
3. Team Reward
Recognizing team effort.
4. Lessons Learned
Recording mistakes and improvements.
5. Release of Resources
Freeing staff and materials.
6. Closure Notification
Informing senior management that project is complete.

6. Inputs, Tools & Outputs of Project Closure

Inputs
Things required:
1. Project Management Plan
2. Accepted Deliverables
3. Organizational Process Assets
Tools & Techniques
 Expert Judgment
 Analytical Techniques
 Meetings
Outputs
1. Final Product/Service/Result
2. Organizational Process Updates

7. Administrative Closure
Administrative closure means completing all paperwork and
documentation.
Includes:
 Reports
 Contracts
 Financial records
 Final approval
Simple meaning:
Official paperwork completion.

8. Contract Closure ⭐
It means officially closing agreements with vendors or suppliers.
Example:
A software company finishes payment to vendor after website delivery.

9. Benefits of Project Closure

Why is closure useful?
✅ Customer satisfaction
✅ Better future planning
✅ Learning from mistakes
✅ Proper project ending
✅ Better resource management

10. Problems if Project is Not Properly Closed

❌ Unclear responsibilities
❌ Customer dissatisfaction
❌ Missing documents
❌ Payment issues
❌ Team confusion

Difference Between Execution & Closure

Execution Closure

Actual work is Project officially

done ends

Team works on
Team is released
tasks

Focus on Focus on final

completion approval
UNIT 6: Agile, Scrum, Lean & Six Sigma
1. What is Agile Project Management? ⭐⭐⭐
Agile Project Management is a flexible and iterative approach where
work is completed in small parts and customer feedback is taken
regularly.
Main Features of Agile:
✅ Flexible approach
✅ Customer involvement
✅ Continuous improvement
✅ Fast delivery
✅ Regular feedback
Simple meaning:
Work is completed step-by-step with continuous improvement.
Example:
Instead of making full app at once:
 First basic version created
 Customer feedback taken
 Improvements added later

2. Benefits of Agile
Why companies use Agile?
✅ Faster delivery
✅ Better customer satisfaction
✅ Easy changes in project
✅ Better teamwork
✅ Less risk
3. Scrum Framework ⭐⭐⭐ (Very Important)
Scrum is a popular Agile framework that divides work into small time
periods called Sprints.
Simple meaning:
Big work divided into smaller manageable work cycles.

4. Important Elements of Scrum ⭐⭐⭐

1. Scrum Team
Team responsible for project.
Includes:
Product Owner
Decides project priorities.
Scrum Master
Guides team and removes problems.
Development Team
Actually performs project work.

2. Product Backlog
List of all tasks/features needed in project.
Simple meaning:
Master to-do list.
Example:
For food delivery app:
 Login page
 Payment system
 Order tracking

3. Sprint Backlog
Small part of Product Backlog selected for one sprint.
Simple meaning:
Tasks selected for current work cycle.

4. Sprint ⭐⭐⭐
A Sprint is a short time period (usually 2–4 weeks) where specific work
is completed.
Example:
Week 1–2 → Login page
Week 3–4 → Payment system

5. Daily Standup Meeting

Short daily meeting where team discusses:
 What was completed?
 What problems came?
 What will be done today?
Simple meaning:
Daily progress meeting.

6. Sprint Review & Retrospective

Done at end of sprint.
Sprint Review:
Checks completed work.
Retrospective:
Discusses improvements for next sprint.

5. Kanban Board ⭐⭐⭐ (Very Important)

Kanban Board is a visual tool used to track project work and workflow.
Main Stages:
To Do → In Progress → Done
Example:

In
To Do Done
Progress

Desig Planni
Coding
n ng

Simple meaning:
Visual board to track task progress.

6. Principles of Kanban
Main Principles:
1. Visualize work
2. Limit work in progress (WIP)
3. Manage workflow
4. Define process clearly
5. Continuous improvement
Benefits:
✅ Better workflow
✅ Easy tracking
✅ Reduced delays
✅ Better team coordination

7. Trello Board ⭐
Trello is a web-based project management tool using:
 Boards
 Lists
 Cards
Used for managing project tasks visually.
Example:
To Do → In Progress → Completed

8. Lean Project Management ⭐⭐⭐

Lean Project Management focuses on:
Maximum value + Minimum waste.
Main Goal:
Reduce:
❌ Waste
❌ Extra cost
❌ Delays
Improve:
✅ Efficiency
✅ Speed
✅ Customer value
Simple meaning:
Do more work with less waste.
9. Principles of Lean ⭐⭐⭐
Important principles:
1. Value
Focus on customer value.
2. Value Stream Mapping
Identify useful and unnecessary steps.
3. Flow
Work should move smoothly.
4. Pull System
Work starts based on demand.
5. Continuous Improvement

10. Lean 5S Method ⭐

Very Important Short Note
Lean uses 5S quality tool:
1. Sort
Remove unnecessary things.
2. Set in Order
Arrange items properly.
3. Shine
Keep workplace clean.
4. Standardize
Follow same process.
5. Sustain
Maintain discipline.
Easy Trick:
SSSSS

11. Six Sigma ⭐⭐⭐ (Very Important)

Six Sigma is a method used to improve quality and reduce
defects/errors.
Main Goal:
Near-perfect quality.
Simple meaning:
Reducing mistakes and improving quality.

12. Principles of Six Sigma

Important Principles:
1. Focus on customer
2. Understand process
3. Smooth workflow
4. Reduce waste
5. Remove defects
6. Team involvement
7. Systematic improvement

13. Lean Six Sigma ⭐⭐

Combination of:
Lean + Six Sigma
Lean:
Removes waste
Six Sigma:
Improves quality
Together:
✅ Faster work
✅ Better quality
✅ Less waste

14. Managing Multiple Projects

Managing multiple projects means handling many projects at the same
time while using resources properly.
Strategies:
✅ Prioritization
✅ Resource allocation
✅ Proper planning
✅ Time management

Difference Between Agile & Traditional Method ⭐

Agile Traditional

Flexible Fixed

Customer feedback Limited

regular feedback

Full project at
Small parts of work
once

Easy changes Hard changes

Difference Between Lean & Six Sigma ⭐

Lean Six Sigma

Removes Reduces
waste defects

Focus on Focus on
speed quality

Improves Improves
flow accuracy