PROJECT MANAGEMENT

OVERVIEW
MODULE 1
Module Overview
• Discuss the fundamentals of Project
Management
• Understand the definition of a
project
• Identify and explain the
characteristics of a project
• Enumerate and discuss the phases of
project management
• Introduce the Project Management
Institute (PMI) framework

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WHAT IS A PROJECT?

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DEFINITION OF A PROJECT

A project is a temporary endeavor undertaken to create a unique product, service, or result.

Projects should not be confused with everyday work. A project is not routine, repetitive work! Ordinary daily
work typically requires doing the same or similar work over and over, while a project is done only once; a new
product or service exists when the project is completed.

Routine, Repetitive Work Projects

Taking class notes Writing a term paper
Daily entering sales receipts into the accounting ledger Developing a supply-chain information system
Practicing scales on the piano Writing a new piano piece

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CHARACTERISTICS OF A PROJECT

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CHARACTERISTICS OF A PROJECT

Major characteristics of a project are as follows:

Usually, the
A defined life involvement of Typically, doing Specific time,
An established span with a several something that cost, and
objective. beginning and departments has never been performance
an end. and done before. requirements.
professionals.

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PHASES OF PROJECT MANAGEMENT

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PHASES OF PROJECT MANAGEMENT

Another way of illustrating the unique nature of project work is in terms of the project life cycle. The life cycle
recognizes that projects have a limited life span and that there are predictable changes in level of effort and
focus over the life of the project. There are a number of different life-cycle models in project management
literature. Many are unique to a specific industry or type of project.

Defining Planning Executing Closing

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PHASES OF PROJECT MANAGEMENT

Defining

Specifications of the project are defined; project objectives are established; teams are formed; major
responsibilities are assigned.

Goals Specifications Tasks Responsibilities

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PHASES OF PROJECT MANAGEMENT

Planning

The level of effort increases, and plans are developed to determine what the project will entail, when it will
be scheduled, whom it will benefit, what quality level should be maintained, and what the budget will be.

Schedules Budgets Resources Risks Staffing

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PHASES OF PROJECT MANAGEMENT

Executing

A major portion of the project work takes place—both physical and mental. The physical product is
produced (a bridge, a report, a software program). Time, cost, and specification measures are used for
control. Is the project on schedule, on budget, and meeting specifications? What are the forecasts of each
of these measures? What revisions/changes are necessary?

Status Reports Changes Quality Forecasts

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PHASES OF PROJECT MANAGEMENT

Closing

Closing includes three activities: delivering the project product to the customer, redeploying project
resources, and post-project review. Delivery of the project might include customer training and transferring
documents. Redeployment usually involves releasing project equipment/materials to other projects and
finding new assignments for team members. Post-project reviews include not only assessing performance
but also capturing lessons learned.

Transfer Release
Train customer Evaluation Lessons learned
documents resources

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PROJECT MANAGEMENT INSTITUTE

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PROJECT MANAGEMENT INSTITUTE

The Project Management Institute (PMI) is a U.S.-based not-for-profit professional organization for project
management.

PMI serves more than three million professionals including over 650,000 members in 213 countries and territories
around the world, with 303 chapters and 14,000 volunteers serving local members in over 180 countries.

Its services include the development of standards, research, education, publication, networking-opportunities in
local chapters, hosting conferences and training seminars, and providing accreditation in project management.

PMI has recruited volunteers to create industry standards, such as "A Guide to the Project Management Body of
Knowledge", which has been recognized by the American National Standards Institute (ANSI). In 2012 ISO
adapted the project management processes from the PMBOK Guide 4th edition.

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PROJECT MANAGEMENT INSTITUTE

The chaos and uncertainty of a global pandemic didn’t deter this year’s Future 50—it
inspired them to push forward on big ideas and bold initiatives to make the world a
better place.

Future 50 project leaders represent rising generations of changemakers dedicated to

forging a better tomorrow. The individuals celebrated here are leveraging new
technologies, fighting disease and taking on climate change. They’re developing
more sustainable sources of food and energy; building residential and commercial
spaces with lasting benefits; accelerating efficiency; and unleashing new creativity
across organizations and communities.
Read about them here
[Link]
This year’s Future 50 embody the inclusive, user-centric, forward-focused mindset
needed in The Project Economy.

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QUESTIONS?

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THANK YOU!
See you on our next class

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