Management Study Material...

2. Module 1: Modern Project Management
 Definitions
 Importance
 Current trends
 Project life cycle
 Feasibility Study
 Project Selection
 Request for proposal
 Applications
 Software Development Projects
 Consultancy Projects

3. What is a Project?
 A project is a complex, non-routine, one-time effort
limited by time, budget, resources, and performance
specifications designed to meet customer needs.

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

5. Examples of a project:-
 The development and introduction of a new services
 The introduction of an improvement to an existing process
 The creation of a large tender or the preparation of a
response to it
 The production of a new customer newsletter, catalogue or
Web site

6. Definitions
 "A discipline which requires budgeting, planning and
resource management skills to enable a specified end
deliverable to be completed within the allocated
timeframe".

7. The Project Life Cycle
 Another way of illustrating the unique nature
of project work is in terms of the project life
cycle.
 cornerstone for managing projects
 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.

8. The Project Life Cycle

9. 1.Defining stage
 Specifications of the project are defined;
 project objectives are established;
 teams are formed;
 major responsibilities are assigned.

10. 2.Planning stage:
 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.

11. 3. Executing stage:
 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?

12. 4. Delivering stage:
 Includes the two activities: delivering the project
product to the customer and redeploying project
resources. 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.

13. Importance of Project Management
 Compression of the Product Life Cycle
 Global Competition
 Knowledge Explosion
 Corporate Downsizing
 Increased Customer Focus
 Small Projects Represent Big Problems

14. Current Trends
 Enterprises continue to look for Efficiencies in Process
& Technology

15. Current Trends
 Agile and Lean Processes are overtaking Waterfall -
With the need to do more with less, the demand by
executives for "predictability" in projects and
customers needing valuable deliverables produced
quicker - Agile and Lean processes will become much
more the norm rather than the exception in projects

16. Current Trends
 PM's are becoming Independent Consultants

17. Current Trends
 Virtual & Independent Teams will be more Prevalent

18. Current Trends
 Social Media will become a Norm

19. Current Trends
 PM & BA Roles are Converging

20. Feasibility Study
 Piece of work designed to give support to an initial
concept or idea
 To minimize risk.

21. project’s feasibility are:
 What are the goals and objectives of the project?
 Is there more than one way of arriving at the desired result?
 Does the project fit with the company’s overall philosophy
and long-term strategy?
 Will the project meet the goals and objectives of all
stakeholders?
 What are the the project’s costs and benefits?
 Does the company have, or can it readily obtain, the
resources it will need?
 How long will it take to see results?
 Will the project result in a product that generates positive
cash flow?
 Does the project (i.e., the product) have long-term potential?
 Are the risks known, understood, and manageable? If the
risks are not manageable, are they acceptable?

22. What is a Feasibility Study?
 Feasibility Study is a formal project document that
shows results of the analysis, research and evaluation
of a proposed project and determines if this project is
technically feasible, cost-effective and profitable. The
primary goal of feasibility study is to assess and prove
the economic and technical viability of the business
idea. The outcome of the study will determine if there
is economic sense to take the project initiative and
proceed with the development of the implementation
plan.

23. When to use a Feasibility Study?
 if you are unsure whether your solution will deliver
the outcome you want, then a Project Feasibility Study
will help gain that clarity. During the Feasibility Study,
a variety of 'assessment' methods are undertaken. The
outcome of the Feasibility Study is a confirmed
solution for implementation.

24. Feasibility Study Steps
 Project Description – Identify the project name and purpose. Include
details including stakeholders, and end result expected.
 Goals – List long and short-term goals and what processes will be needed to
achieve those goals.
 Timeline – What will be the estimated time until project completion?
 Costs and Budgeting – Include all costs incurred for the project including
the cost of the feasibility study itself.
 Purpose – What purpose does the project have and whom will it benefit?
 Market Analysis – If applicable, will the market or market environment
benefit from the project. If so, list why.
 Resources – Identify all the resources both IT, technical, inventory, and
human that will be needed to complete the project.
 Project Process – How will the project flow? Include flow charts showing
project stages.
 Management and Teams – Who will manage and who will work on
scheduled tasks? Will project management outsourcing be needed?
 Observations– Statements that do or don’t support the project should be
included here. If for a client, does the client have the finances to complete
the project or are there alternatives? If for a project or process, will it work
and will it be beneficial?

25. Outcomes of a Feasibility Study
A good feasibility study sample will include:
 Project Problems – Does the study include risk or
problematic areas that need to be addressed and are they
clearly identified?
 The Outcome – Ever study should identify the process,
product, client request, and goal and how they will affect the
outcome; positively or negatively. Will outcomes be
beneficial or deterrent?
 Alternatives – Are possible alternatives available or suggested
and researched?
 Assessment – The assessment part of your feasibility study
should include risk management and controls, solutions, if
the project is feasible, and how the project should be
implemented.

26. Thank You