Project Management:Life Cycle & Phases.

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Concept of Project & Project ManagementUnder guidance of:Presented by:Dr. Alok RaiAshutosh Mishra Associate ProfessorMBA-MarketingFMSBHUFlow of Presentation•What is a project?•Features of Project•Project Management•Project management vs. general management•Project Life Cycle•Phases of Project life cycle•Bangalore Metro Rail Project•Conclusion•References2What is Project?The word project comes from the Latin word projectum which means "something that comes before anything else happens".Source: www.wikipedia.orgA project is “a unique endeavour to produce a set of deliverables within clearly specified time, cost and quality constraints”.-Jason Westland, CEO MPMM“Trying to manage a project without project management is like trying to play a football game without a game plan.” - K .Tate3Features of ProjectUnique in Defined Approved NatureTimescaleBudgetLimited Element of Beneficial ResourcesRiskchangeSource: Project Management Guidebook4Typology of Projects2-5 years.StrategicHigh degree of change to customers.Highly complex.1-2 years.SystemsMedium degree of change to customers.Medium complex.Up to 1 year.OperationalLow degree of change to customers.Less complex.5What is Project Management?In project management a project consists of a temporary endeavour undertaken to create a unique product, service or result. It is a management environment that is created for the purpose of delivering one or more business products according to a specified business case.Project management comprises:•A set of skills.•A suite of tools.•A series of processes.Source: www.wikipedia.org6Project ManagementGeneral ManagementLines of authority Authority defined “fuzzy”.by management structure.Ever changing set of tasks.Consistent set of Responsibility for tasks.cross functional Responsibility activities.limited to their own functions.Only in project life duration.Permanent work scenario.Main task is resolution of conflict.Main task is Contains intrinsic optimization.uncertainties.Limited set of variables.7Project Life CycleThe sequence of phases through which the project will evolve is a project life cycle.A project life cycle is basically defined by it’s phases, according to which a project swims through & finally reaches to handover stage.8” The life cycle is the only thing that uniquely distinguishes projects from non-projects.” - Patel & Morris (The Role of the Project Life Cycle (Life Span) in Project Management :A literature review by R. Max Wideman)cleCye of Lif sesaPh9Sub-divisions in Project Life Cycle10