project management

MRDP503 Project Planning and Implementation:

Pradeep Randiwela - Faculty of Management and Finance MRDP503 Project Planning and Implementation Masters in Regional Development and Planning 2010/11 Faculty of Graduate Studies University of Colombo

About Pradeep Randiwela:

Pradeep Randiwela - Faculty of Management and Finance About Pradeep Randiwela Senior Lecturer in Marketing Winner of Best Professor in Marketing Award 2010 [CMO Asia] Former Dean – Faculty of Management and Finance (2002-2005) Former Head – Dept. of Commerce More than 24 years experience in both industry and academia including the World Bank, ILO, Oxford and Cambridge. Visiting Faculty – MBA (Moratuwa), MBS/MSC / PGDBM/ EDM/(Colombo), MBA (Peradeniya), MBA (Rajarata) and MBA (Wayamba)

-My teaching is based on::

Pradeep Randiwela - Faculty of Management and Finance -My teaching is based on: “Do not believe in anything simply because you have heard it. Do not believe in anything simply because it is spoken and rumored by many. Do not believe in anything simply because it is found written in your religious book. Do not believe in anything merely on the authority of your teachers and elders. Do not believe in traditions because they have been handed down for many generations. But offer observations and analysis, when you find that anything agrees with reason and is conducive to the good and benefit of one and all, then accept it and live up to it.” -Buddha-

Slide 4:

Pradeep Randiwela - Faculty of Management and Finance Knowing is not enough; we must apply.  Willing is not enough; we must do." Johann Goethe  (1749-1832) "Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young .” Henry Ford (1863–1947) Founder of the Ford Motor Company

What made you decide to read for this MASTER degree?:

What made you decide to read for this MASTER degree? Pradeep Randiwela - Faculty of Management and Finance

Evaluation Course Assignments (Group/Individual) 40% Final Examination 50% Attendance 10% :

Evaluation Course Assignments (Group/Individual) 40% Final Examination 50% Attendance 10% Course Text: Meredith, J. K., and Mantel, Jr. S. J., Project Management: A Managerial Approach, 6 th Ed.,(2006), Wiley India. Pradeep Randiwela - Faculty of Management and Finance

Overview:

Overview Project Management Growth Factors Project Aspects Project Criteria Project Life Cycle Project Management Profession Pradeep Randiwela - Faculty of Management and Finance

Project Management Emergence:

Pradeep Randiwela - Faculty of Management and Finance Project Management Emergence Explosion in human knowledge Mass customization of products and services Expansion of global markets

Forces Of Project Management:

Pradeep Randiwela - Faculty of Management and Finance Forces Of Project Management Forces driving Project Management: 1. exponential expansion of human knowledge 2. growing demand for a broad range of complex, sophisticated, customized goods and services 3. evolution of worldwide competitive markets for the production and consumption of goods and services Team-based problem solving v. individual

The Professionalism of Project Management:

Pradeep Randiwela - Faculty of Management and Finance The Professionalism of Project Management Complexity of problems facing the project manager Growth in number of project oriented organizations The Project Management Institute (PMI) was established in 1969 By 1990 it had 7,500 members 1995, over 17,000 members 1998--exploded to over 44,000 members This exponential growth is indicative of the rapid growth in the use of projects Importance of PMI as a force in the development of project management as a profession

Organizational Imperatives :

Pradeep Randiwela - Faculty of Management and Finance Organizational Imperatives Traditional hierarchical management declining Consensual management increasing Increasing reliance on systems engineering Projects integral to organizational strategy

The Definition of a “Project”:

Pradeep Randiwela - Faculty of Management and Finance The Definition of a “Project” Must make a distinction between terms: Program - an exceptionally large, long-range objective that is broken down into a set of projects Task - set of activities comprising a project Work Packages - division of tasks Work Units - division of work packages A specific, finite task to be accomplished

Project Management A Working Definition:

Pradeep Randiwela - Faculty of Management and Finance Project Management A Working Definition Project: A problem with a known solution scheduled for completion—unique and non-routine activities Project Management: The science and art of solving the problem within predetermined time and resource parameters Shouldering just enough risk to escape with your career intact!!!

Characteristics of a Project:

Pradeep Randiwela - Faculty of Management and Finance Characteristics of a Project Have a supported purpose/importance Performance specifications (form, fit, function) Known (bounded) solution Have a life cycle with finite due date Interdependencies Uniqueness Resource requirements and tradeoffs Stakeholder Conflict

Quasi-Projects and Fuzzy Goals:

Pradeep Randiwela - Faculty of Management and Finance Quasi-Projects and Fuzzy Goals Tasks without Specific Targets No Who, What, When, Where, How Much Implied Performance, Cost, Time Constraints “Projects” to Determine Project Scope Warning: If these Become Projects, Expect Delays, Cost Overruns, Dissatisfied Customers

Objectives of a Project:

Pradeep Randiwela - Faculty of Management and Finance Objectives of a Project Project Objectives: Performance Time Cost Expectations of clients inherent part of the project specifications

Objectives of a Project:

Pradeep Randiwela - Faculty of Management and Finance Objectives of a Project 3 Project Objectives:

Why Project Management? :

Pradeep Randiwela - Faculty of Management and Finance Why Project Management? Companies have experienced: Better customer relations Shorter overall delivery times Lower costs and higher profit margins Higher quality and reliability Higher worker morale

Why (not) Project Management?:

Pradeep Randiwela - Faculty of Management and Finance Why (not) Project Management? Companies have also experienced some negatives: Greater organizational complexity Increased likelihood of organizational policy violations Higher costs More management difficulties Low personnel utilization

The Project Life Cycle:

Pradeep Randiwela - Faculty of Management and Finance The Project Life Cycle Stages of a Conventional Project: Slow beginning Buildup of size Peak Begin a decline Termination

The Project Life Cycle:

Pradeep Randiwela - Faculty of Management and Finance The Project Life Cycle Projects also exist which do not follow the conventional project life cycle Comprised of subunits that have little use as a stand alone unit, yet become useful when put together

Project Management Life Cycle:

Pradeep Randiwela - Faculty of Management and Finance Project Management Life Cycle Definition Planning Implementation Delivery Level of effort 1. Goals 2. Specifications 3. Scope 4. Responsibilities 5. Teams 1. WBS 2. Budgets 3. Resources 4. Risks 5. Schedule 1. Status reports 2. Change Orders 3. Quality Audits 4. Contingencies 1. Train user 2. Transfer documents 3. Release resources 4. Reassign staff 5. Lessons learned

Proactive Project Life Cycle:

Pradeep Randiwela - Faculty of Management and Finance Proactive Project Life Cycle Level of Value of Effort Low High Define Plan Implement Delivery Scope WBS/OBS/Schedule Resource (Re)allocation “Learn Curve” Tradeoffs Detailed Budget Cost Containment Final Report Project Evaluation (Audit) Process Change Management System Project Manager Roles and Responsibilities Closed-Loop Planning-Monitor-Control System