Lecture 01: Introduction to Project Management - I

Summary

This course on Project Management is structured into four phases: initiation, planning, execution, and IT tools for project management. It covers project selection, management, and organization structures, emphasizing the importance of the project manager's role. The course also delves into planning activities, risk management, and execution strategies, including earned value analysis and agile tools. The textbook by Meredith and Schaffer is adapted with Indian cases. The lecture discusses the evolution of project management, the triple constraint of scope, time, and cost, and the characteristics of projects, highlighting the Chandrayaan 3 mission as a case study in successful project execution.

Takeaways

• 📚 The course is structured into four phases: initiation, planning, execution, and IT tools for project management.
• 🔍 Phase 1 focuses on project initiation, covering topics like project management introduction, agile project management, and project selection models.
• 📈 Phase 2 is about project planning, including traditional and agile planning, risk management, and scheduling techniques like CPM and PERT.
• 🛠️ Phase 3 deals with project execution, discussing project monitoring, controlling, earned value analysis, and change control.
• 💻 The final phase introduces various software packages for executing complex projects and provides demonstrations.
• 📖 The course adopts a textbook by Meredith and Schaffer, with added Indian cases to contextualize the learning.
• 🌟 Project management is crucial across all domains, including construction, government, and software industries.
• 🚀 Chandrayaan 3 is highlighted as a successful project managed by ISRO, emphasizing the importance of clear objectives and detailed planning.
• 🔑 The triple constraint in project management includes scope, time, and cost, which are interrelated and require careful management by the project manager.
• 🔄 Projects are temporary endeavors with unique outcomes, and their success depends on balancing the triple constraint and managing ancillary goals.
• 🏢 Projects are often part of larger programs and must be managed considering their interdependencies and the health of the project team.

Q & A

What are the four phases of the Project Management course outlined in the script?

The four phases of the Project Management course are project initiation, project planning, project execution, and IT for project management.

What is the focus of the first phase in the Project Management course?

The first phase, project initiation, covers topics such as introduction to project management, agile project management, project selection models, and the importance of the project manager.

What does the third phase of the course, project execution, include?

The third phase, project execution, includes planning, monitoring, controlling the project cycle, earned value analysis, agile tools for tracking, project controlling, control of change scope, project audit, and closing projects.

What is the purpose of the last phase in the course?

The last phase is designed to introduce various software packages for executing complicated projects and provide demonstrations on project management software.

What is the textbook reference for the course as mentioned in the script?

The textbook reference for the course is a book written by Professor Meredith and Schaffer, with the Indian edition adopted and having added Indian cases.

How is the term 'project' defined by the Project Management Institute according to the script?

The Project Management Institute defines a project as a temporary endeavor undertaken to create a unique product, service, or result.

What are the three constraints that a project manager needs to manage according to the script?

The three constraints that a project manager needs to manage are scope, time (specific deadline), and cost (budget).

What is the significance of the Chandrayaan 3 mission as an example of project management mentioned in the script?

Chandrayaan 3 mission is highlighted as a successful example of project management, showcasing learnings from failures, clear project objectives, detailed planning, collaboration, and continuous monitoring and control.

What is the difference between a project and a program as described in the script?

A program is a substantial long-range objective broken down into projects, while a project is a subdivision of a program, further divided into tasks and work packages.

What are the three important characteristics of a project mentioned in the script?

The three important characteristics of a project are its uniqueness, one-time occurrence, and finite duration.

What are some ancillary goals for a project as discussed in the script?

Some ancillary goals for a project include improving the organization's project management competency, developing individuals' managerial experience, and gaining a foothold in a new market.

Outlines

00:00

📚 Course Outline and Phases of Project Management

The lecture introduces a course on Project Management, structured into four distinct phases: initiation, planning, execution, and IT for project management. Phase one focuses on project initiation, covering topics like introduction to project management, agile project management, project selection models, and the role of a project manager. Phase two delves into project planning, including activity planning, risk management, and scheduling techniques like the Critical Path Method and PERT. The third phase addresses project execution, discussing project monitoring, controlling, and earned value analysis. The final phase introduces software packages for managing complex projects. The course also references a textbook by Meredith and Schaffer, adapted for Indian context with relevant case studies.

05:04

🏗️ Introduction to Projects and Project Management Evolution

This segment discusses the introduction to projects, their history, and the evolution of project management across various domains such as construction, government, and software industry. It highlights the shift from external to internal projects and the importance of project management in enhancing efficiency and competitiveness. The lecture also covers the formal definition of a project by the Project Management Institute, emphasizing the temporary nature and unique deliverables of projects. Historical examples like the construction of the Taj Mahal and the Indian new parliamentary building are cited, illustrating the long-standing presence of project management. The military's influence on project management techniques is acknowledged, and the adoption of these techniques in business domains is discussed.

10:06

🚀 Project Management in Software Industry and Chandrayaan3 Case Study

The lecture emphasizes the widespread adoption of project management techniques in the software industry, particularly agile project management. It presents Chandrayaan3, executed by ISRO, as a prime example of successful project management. The project's director, Dr. P Veeramuthuvel, is mentioned, along with the project's learnings from the failure of Chandrayaan2. The lecture outlines key project management lessons from Chandrayaan3, such as clear objectives, detailed planning, collaboration, and continuous monitoring and control. It also differentiates between projects, programs, tasks, and work packages, using military terminology to explain these concepts, and discusses the triple constraint model of scope, time, and cost in project management.

15:07

🔄 The Triple Constraint Model and Scope Management

This part of the lecture delves into the triple constraint model of project management, which includes scope, time, and cost. It explains how adjustments in one constraint can affect the others, emphasizing the need for a project manager to manage trade-offs and address risks. The lecture also explores the concept of scope in detail, discussing how client expectations evolve over time and the importance of communication to avoid mismatches between expectations and project outcomes. Ancillary goals of projects, such as improving organizational competency and gaining a foothold in new markets, are also touched upon, along with the importance of considering external factors and stakeholders in project management.

20:11

🌟 Project Characteristics and Managerial Considerations

The final paragraph summarizes key characteristics of projects, such as uniqueness, one-time occurrence, and finite duration. It also discusses interdependencies between projects and the parent organization, the limited nature of project budgets, and the potential for conflict over resource allocation. The lecture stresses the importance of the project team's health and the need for project managers to consider all stakeholders, including environmental groups and competitive firms. It concludes by recapping the history of projects, the definition and interconnectedness of projects, programs, tasks, and work packages, the triple constraint, the concept of scope, ancillary goals, and the characteristics of projects.

Keywords

💡Project Initiation

Project initiation refers to the starting phase of a project where the project is conceived and authorized. It is a critical phase as it sets the foundation for the entire project. In the script, this phase includes topics such as introduction to project management, agile project management, and the importance of a project manager. It lays the groundwork for understanding how projects are initiated and the key components involved in starting a project successfully.

💡Project Planning

Project planning is the phase where the project's objectives, scope, resources, and timelines are defined. It is essential for ensuring that the project is executed efficiently and meets its intended goals. The script mentions various aspects of project planning, including traditional and agile project activity planning, project feasibility analysis, and risk management, which are all crucial for developing a comprehensive project plan.

💡Project Execution

Project execution is the phase where the project plan is put into action. It involves managing the project team, coordinating resources, and monitoring progress to ensure the project is completed as planned. The script discusses topics such as earned value analysis, project controlling, and change management, which are key to executing projects effectively and achieving the desired outcomes.

💡IT for Project Management

IT for project management refers to the use of information technology tools and software packages to aid in the management of projects. These tools can help in areas such as scheduling, resource allocation, and risk analysis. The script mentions that the last phase of the course will introduce various software packages for executing complicated projects, highlighting the importance of IT in modern project management practices.

💡Agile Project Management

Agile project management is a flexible approach to project management that emphasizes iterative progress, adaptability, and customer collaboration. It is particularly useful for projects with changing requirements or those that require rapid response to changes. The script introduces agile project management as one of the topics in the project initiation phase, indicating its relevance in the current project management landscape.

💡Project Selection Models

Project selection models are frameworks or methodologies used to evaluate and choose which projects to undertake based on various criteria such as strategic alignment, feasibility, and resource availability. The script mentions discussing different project selection models, which is crucial for organizations to prioritize and select projects that will yield the best return on investment.

💡Project Manager

A project manager is a professional responsible for planning, executing, and closing projects. They ensure that the project is completed on time, within scope, and within budget. The script discusses the importance of the project manager and attributes for an effective project manager, emphasizing their critical role in the success of a project.

💡Triple Constraint

The triple constraint refers to the three core dimensions of a project: scope, time, and cost. These constraints are interrelated, and changes in one can impact the others. The script explains the concept of the triple constraint and its importance in project management, as project managers must balance these constraints to achieve project success.

💡Critical Path Method (CPM)

The Critical Path Method (CPM) is a project scheduling technique that helps determine the shortest time in which a project can be completed. It involves identifying the sequence of project network activities which add up to the longest overall duration. The script mentions CPM as one of the ways to schedule projects, highlighting its utility in project planning.

💡PERT (Program Evaluation and Review Technique)

PERT is a project management tool used to analyze the tasks involved in completing a project. It is particularly useful for large, complex projects with many interdependent tasks. The script refers to PERT as another way of scheduling projects, indicating its importance in managing the time aspect of project planning.

💡Earned Value Analysis (EVA)

Earned Value Analysis is a project management technique for measuring project performance and progress. It compares the budgeted cost of the work scheduled (BCWS) with the budgeted cost of the work performed (BCWP) to evaluate the efficiency and effectiveness of a project. The script discusses earned value analysis as a method for measuring the progress or performance of a project, emphasizing its importance in project execution.

Highlights

The course on Project Management is divided into four phases: initiation, planning, execution, and IT for project management.

Phase 1 covers topics like project initiation, agile project management, and the importance of a project manager.

Phase 2 focuses on traditional and agile project planning, including risk management and critical path method.

Phase 3 delves into project execution, monitoring, and controlling, with discussions on earned value analysis and agile tools.

Phase 4 introduces various software packages for executing complicated projects and provides demonstrations.

The textbook for the course is by Meredith and Schaffer, with added Indian cases for context.

Projects are defined as temporary endeavors to create unique products, services, or results.

Project management has advanced rapidly across various domains, including construction, government, and software industry.

The history of projects includes significant examples like the construction of the Taj Mahal and the Indian new parliamentary building.

The success of internal projects improves efficiency and competitiveness within organizations.

Project management techniques originated from the military and have spread to various business domains.

Chandrayaan 3 is highlighted as a successful example of project management, executed by ISRO.

Clear project objectives, detailed planning, and collaboration are key takeaways from the success of Chandrayaan 3.

The difference between projects, programs, tasks, and work packages is clarified, with examples from military terminology.

The triple constraint of projects includes scope, time, and cost, which are interrelated and require trade-offs.

Ancillary goals of projects include improving organizational competency, developing managerial experience, and gaining market foothold.

Project characteristics such as uniqueness, one-time occurrence, and finite duration are discussed.

Interdependencies, limited budget, and conflict are mentioned as common characteristics of projects.

Transcripts

Dear students, welcome to the course on Project Management.

The outline of this course is there is going to be four stages, four phases of this course.

The first phase is project initiation, the second phase is project planning, the third

phase is project execution and the last phase is IT for project management.

The first three phases there will be a sequence project phase 1, phase 2, phase 3.

The last phase is to give some introduction to some software packages for the purpose

of executing complicated projects.

In the phase 1 as I told you it is a project initiation, there are certain lectures that

I am going to cover in this course.

So in the phase 1, the first lecture is on introduction to project management 1, the

second lecture is introduction to project management 2, the third lecture is agile project

management.

Then I will discuss about different project selection models, then I will give you various

examples for selecting the projects, then we will study about the importance of project

manager, then we will study about various attributes for an effective project manager,

then we will study about how to managing for stakeholders, then we will study about how

to resolve the conflicts, then what is the negotiation, what is the procedure for doing

negotiation that we will cover there.

Then we will study about the project in the organization structure, different types of

organization structures, how the project can be fit into there.

Then we will study the important factors that is the human factors and the project team.

In phase 2 that is a project planning stage, we study about the traditional project activity

planning, then we will study about agile project planning, then coordination through integration

management, then we will study about project feasibility analysis, then estimation of project

budget, then project risk management, then we will study quantitative risk assessment

methodology, then we will study about critical path method that is the one of the way to

schedule the project.

The another way of scheduling project is PERT that is a program evaluation and review technique,

then how to do the simulation for doing the risk analysis that we will cover, then we

will study scheduling with the scrum if it is agile project, then we will talk about

crashing a project so that we can reduce the project duration, then we will discuss about

resource loading, resource leveling, finally gold reds critical chain.

The third phase is project execution stage, then we will study about the planning, monitoring,

controlling the project whole cycle, then we will discuss about earned value analysis

for measuring the progress or performance of your project, then we will study about

agile tools for tracking the project, then we will study about three types of project

controlling, then we will study about control of change scope and scope creep, then we will

study about project audit, then we will study about essentials of audit and evaluation,

then finally we will discuss about when to close projects, then we will study about benefits

of projects.

The last phase is what are the various softwares for project management, then I will give you

some demo on project management softwares, then I will discuss about how can we use some

simulation softwares for project management, finally I will summarize the course.

So, the textbook which I am going to follow for this course is a book written by professor

Meredith and Schaffer, the Indian edition of the book was adopted by me, so I have added

so many Indian cases wherever it is required in the book.

So, the agenda for this lecture is I will discuss about introduction to the projects,

then we will go for history of projects, later we will discuss about the definition of your

project, then I will make a difference between programs and projects and task and work packages,

then we will discuss about triple constraint, very three important constraint for any projects,

then we study in detail about the concept of scope, then there are some ancillary goals

for the project that also we will discuss here, finally I will discuss about some of

the important characteristics of your project, then I will conclude this lecture.

See, first we will go the introduction to the project management, so now the project

management advances rapidly in all domains, in every field there is a project management,

whether it is a construction, whether it is a government, whether it is a software industry,

wherever you go the project management topic is very important So, projects are getting

much more sophisticated and complex and involving multiple organizations and billions of dollars,

while success rates of standard projects are improved and the non traditional projects

are struggling to achieve the success.

When you look at the history of the projects, look at the picture on the right hand side

even the construction of Taj Mahal, the construction of Indian new parliamentary building and launching

of the Chandra in three, these are some of the known well known examples of projects.

So, rapid growth in project management in organizations, there is a shift from external

to internal projects that is previously some projects are done by external organizations.

Now, the organization itself wanted to do their own projects, they do not want to outsource

their projects.

So, the success in executing internal projects improve efficiency and competitiveness, when

the company itself it executes some projects, so their efficiency for doing the project

is increasing and the competitiveness also increasing.

So, project management provides a powerful tools for planning, implementing and controlling

activities.

Initially, I discuss about four phases, in each four phases we will discuss about various

tools that will be the objective of this course.

Now, we will go to the formal definition of your project.

The project management institute define project like this, a temporary endeavor undertaken

to create a unique product, services and result.

When you analyze this definition, the first term it is coming to us is the temporary endeavor,

only one time activity and it is going to create or to provide a unique product or services.

In its early days, project management was used mainly for extensive complex research

and development projects.

Now, but the project management is used everywhere, like some of the example of complex projects

are massive construction programs, where also organized as a projects including the construction

of dams, ships, refineries and the freeways.

As the techniques of project management were developed mostly by the military, then the

use of project organization began to spread.

So, most of the techniques of the project management is started from the military.

Now, it is used in the various business domains.

Now, other things the project based organization helped private construction firms on smaller

project projects like warehouse or apartment complexes.

So, that is giving a better result.

So, what they are doing that many new organizations.

Now, even though the things are react the task is very smaller activity.

Now, they are doing in the form of a projects.

Automative companies used project organization to develop new automobile models.

Here what is the meaning of this project organization?

Organizations which executes all their activity in the form of projects.

Look at the picture on the right hand side, the software company.

It is the best example for project based organization, because all activities task or all the projects

all the activities done in the form of projects.

So, most striking has been the wide stepped adoption of project management techniques

for the development of computer softwares.

In software industry, we study in detail about the agile project management.

So, the project management is extensively the project management techniques are extensively

adopted by software industry.

Now, I am going to provide one of the best example of project management that is Chandrayaan3.

This project was successfully executed by ISRO.

So, the project director for Chandrayaan3 is Dr. P Veeramuthuvel.

There are lot of project management tools and learnings from the success of our Chandrayaan

3.

So, Chandrayaan3 mission is one of the finest example of project management.

It is the lesson from the failure of Chandrayaan2 in 2019.

That is one of the best example that is learning from the failures and rectifying the failures.

So, what has happened the error was identified and corrected leading to the successful soft

landing of the Chandrayaan 3 lander on the lunar south pole.

Some of the learnings which we can take from the success of Chandra N3 is clear project

objectives.

So, what was the objective of Chandra N3?

To explore the moon and contact scientific experiments.

Another project management techniques that we can learn from the success of Chandra N3

is detailed planning.

So, there was a extensive planning including designing spacecraft, calculating trajectories

and specifying scientific payloads.

So, some more learning from the success of Chandra N3 is a collaboration and coordination.

Collaboration between various institutions including ISRO, academia and industry.

The next learning is monitoring and control.

There was a continuous monitoring and control mechanisms were in place to track the progress

and make adjustment as needed.

It is another key aspect of project management in Chandrayaan 3 project.

Now, we will discuss about difference between projects, programs, task, work packages.

Why this difference is required is in the whole course we will discuss about these terms

programs, project, task and work packages.

Now, I want to make you to clarify exactly what are the difference between projects,

programs, task and work packages.

As I told you the military that is the source of most of these terms generally use uses

the term programs to refer a substantial long range objective that is broken down into projects.

So, the bigger circle is programs.

So, how the programs the collection of project is the program.

Then the projects are subdivided further into task which are in turn split into work packages

that are themselves composed to work units.

Please look at the picture on the right hand side.

You can read from the bottom there are work packages.

See there is a work packages that has come from certain task.

For example, task 1.1.1 have some work packages.

Then actually this has come from another division of task 1.1

From task 1.1 we got 1.1.1 So, the collection of task is a project.

So, the collection of project is a program.

So, what we can say see the smaller circle is work packages.

Then task.

Then project.

The final one is the program.

So, program.

This terminology is borrowed from the military.

Next we will discuss about very important constraint for any projects.

There are three constraint.

One constraint is scope.

Here the meaning of scope is specified deliverables.

The second constraint is time a specific deadline.

The third one is the cost that is the budget.

When you look at the picture right hand side there is a all these three constraints are

plotted.

One is time.

Here there is a time that is a schedule.

Then the cost.

Then there is a scope.

You see that this is the performance target all are interrelated.

If there is any small adjustment in one constraint that will affect the other constraint.

For example, if you want to compress the time.

So, cost will increase.

If you are expanding the scope time will increase cost will increase.

So, here a successful project manager need to have a trade-off among these three project

constraint that is called triple constraint.

This illustration implies that some functions relate them to one another.

So, all these three triple constraint is linked by some functions.

Although these functions vary from project to project and from time to time for a given

project.

What is the role of a project manager by looking at this triple constraint?

There are two primary task for a project manager.

First one is to manage these trade-off.

When talk about functions mean there is a relationship between these three constraint.

So, the task of a project manager is to understand the trade-off to manage the trade-off and

the second one anticipate and address the risk to the project.

So, that is a primary constraint of the primary objective of any project manager.

We discuss about the scope.

The availability of outcome itself is part of the outcome.

There is a tendency to think of a project solely in terms of its outcome that is the

scope.

But the time at which the outcome is available is itself a part of the outcome as is the

cost entailed in achieving the outcome.

The timing of outcome is more important when you are providing.

Whether you are providing now or later and providing the outcome at the right time itself

an important outcome.

So, the completion of a building on time and within budget is quite different outcome from

the completion of the same physical structure as a year later and 20% over budget or both.

The first case you are providing the outcome at the right time at the right budget.

Later part of the sentence we discuss about the same project is completed longer duration

of time but 20% over the budget.

So, here the providing the outcome right time at the right budget is more important.

Now I will explain little bit in detail about the concept of scope.

Expectation of the client are inherent part of the project specification which unfortunately

tend to evolve over time because every project is implemented to meet the expectation of

the project.

So, client views the result of the team's ideas.

So, what will happen the clients expectation sometime may not match with project team's

designs.

If there is no proper collaboration, if there is no proper communication about the scope.

So, always there will be a mismatch between expectation of the clients and the project

team's designs there will be a gap.

We talked about three important goals time, cost, scope.

There are other ancillary goals for any project.

One is improving the organization's project management competency and methods.

So, when you keep on doing different and variety of projects what will happen that will lead

to increase the company's the organizations organizations project management competency

and methods.

And the another ancillary goal is developing individuals managerial experience through

project management.

So, what will happen when the people work in the projects.

So, they will get a more managerial experience.

And the third ancillary goal is gaining a foothold in a new market.

When you execute a new project, so you will get your presence in that domain.

Another important aspect that has to be kept in mind as a project manager is health of

the project team.

The project manager should not exhaust the team.

So, when making a trade-off consider the external factors that impact or impacted by the project

even if they are outside the sponsoring organization.

Because you have to taken into consideration of all stakeholders of your project.

Some of the stakeholders are environmental groups, trade unions, competitive firms and

the like.

So, you have to have the all the people you have to consider all the stakeholders of the

projects.

I will discuss about three characteristics of any project.

One is every project is unique.

We have seen in the definition of the project.

Every project is unique and the project is one time occurrence.

The third characteristic is project is that they have the finite duration.

These are the three important characteristics of any project.

That is uniqueness, one time occurrence and finite duration.

Now we will discuss about some of the characteristics of your project.

One is interdependencies.

Project often interact with other projects being carried out simultaneously by their

parent organizations.

Obviously you need to have interaction interdependencies with other project and with your parent organization.

So, these interactions take the form of competition for scarce resources between projects.

So, people may fight for the resources that will lead to the competition.

So, project always interact with the parent organization's standard and ongoing operations.

So, project manager must keep all these interactions clear and maintain the appropriate interrelationship

with all external groups.

Another characteristic of any project is limited budget.

Often the budget is implied rather than detailed particularly concerning the personnel but

it is strictly limited.

When we give any project proposal, we may not have the exact personnel requirement.

We may have a rough estimate over the project duration of the time then we will realize

that we need more money, more budget for personnel.

So, that is so what is happening this budget is always limited.

So, the attempt to obtain additional resources frequently leads to a next attribute called

conflict.

We will study in detail about the conflict in coming lectures.

So, these are the some of the characteristics of the project.

So, dear student in this lecture I discussed about history of projects then I discussed

about the definition of the project.

Then I have explained what are the differences, how it is interconnected like programs, projects,

task and work packages.

Later I have discussed about triple constraint, then little bit I have expanded the concept

of scope, then I have discussed about ancillary goals, finally I have discussed about some

of the characteristics of the project.

Thank you.

Thank you very much.