PM IBSS #3.pptx - Project Management #3 Primary Features of...

Project Management
#3

Primary Features of a Project
Projects include the following:

Start and Finish

A life-cycle (a beginning and an end, with a number of distinct phases in between).

A budget with an associated cash-flow.

Activities that are essentially unique and non-repetitive.

Use of resources, which may be from different departments and need coordinating.

A single point of responsibility (i.e. the project manager).

Team roles and relationships that are subject to change and need to be developed, defined and
established (team building).
Typically projects involve the cooperative efforts of two or more people.
This team effort implies communication and coordination challenges.

Project-Life-Cycle
The project management life cycle is usually broken down into four phases: initiation, planning,
execution, and closure—these make up the path that takes your project from the beginning to the end.
Some methodologies also include a fifth phase, controlling or monitoring. For our purposes, this phase is
covered under the execution and closure phases.

Project classifications
Many Organizations have chosen to define a classification of projects based on such project
classifications:
1 Risk
2 Business Value
3 Length
4 Complexity
5 Cost
Also;
Type A projects: high business-value, high complexity projects.
Type B projects: shorter in length, yet they still are significant projects for the organization.
Type C projects: are the projects occurring most frequently in an organization. They are
shorter by comparison and use established technology.
Type D projects: requires only scope statement and a few scheduling pieces of information

Statement of Work [SOW]
- State the problem / opportunity:
•
Know problem / Know opportunity areas
• Client request.
•
Parties Involved requirements.
- Establish the project goal: It should be SMART:
•
Specific.
•
Measurable.
•
Assignable.
•
Realistic.
•
Time related.
Index

Any Project main pillars
•
An outcome: a statement of what is to be accomplished.
• A time frame: expected completion date.
•
A measure: metrics that will measure success.