Project Management Simplified Study Guide
Unit 1: Introduction
- **What is a Project?**
A temporary effort to create a unique product, service, or result. Projects have a defined beginning and end.
- **What is Project Management?**
The application of knowledge, skills, tools, and techniques to meet project requirements.
- **Phases of Project Management:**
1. Initiation - Define the project at a broad level.
2. Planning - Set goals, timelines, budget, and assign tasks.
3. Execution - Carry out the work defined in the plan.
4. Monitoring - Track progress and performance.
5. Closure - Complete project, document learning.
- **7-S of Project Management:**
Strategy, Structure, Systems, Shared Values, Style, Staff, Skills - ensures all organizational parts align.
- **Project Environment:**
Internal and external factors that influence project success - such as culture, economy, regulations.
- **Strategic Capability:**
Projects help execute an organization's vision and goals.
- **Performance Management:**
Setting key performance indicators (KPIs), tracking progress, and ensuring outcomes align with objectives.
Unit 2: Project Definition
Project Management Simplified Study Guide
- **Project Concept:**
Define what the project is about, its purpose, and justification.
- **Scope Management:**
Determines what's included and excluded in the project to prevent "scope creep".
- **Work Breakdown Structure (WBS):**
Breaks down the entire project into smaller, manageable parts.
- **Project Process:**
A systematic series of activities directed towards project goals.
- **Process Mapping:**
Visual representation of workflow; helps identify bottlenecks or inefficiencies.
- **Checkpoints:**
Regular review points to ensure everything is on track.
Unit 3: Time, Cost and Quality Planning
- **Time Planning:**
Gantt charts visualize task durations and dependencies. AoA diagrams help schedule sequences.
- **Cost Planning:**
Includes estimation (top-down or bottom-up), budgeting, and tracking expenses.
- **Quality Planning:**
Define quality standards and how to meet them.
- **Conformance vs Performance Quality:**
Project Management Simplified Study Guide
Conformance = meet standards; Performance = satisfy user needs.
- **Tools:**
Use MS Project or Excel to schedule and track budget and quality.
Unit 4: Plan Analysis and Risk Management
- **Time/Cost/Quality Analysis:**
Evaluate if timelines, budget, and quality metrics are being met.
- **Risk Management:**
1. Identify risks
2. Analyze impact
3. Plan mitigation
4. Monitor throughout
- **Quantification Techniques:**
Use probability and impact scoring to rank risks.
Unit 5: Project Organization: Structures and Teams
- **Organizational Structures:**
Functional, Matrix (shared authority), Projectized (full control).
- **Team Roles:**
Project Manager, Sponsor, Team Members, Stakeholders.
- **Teamwork Essentials:**
Clear communication, defined roles, conflict resolution.
Project Management Simplified Study Guide
- **Virtual Teams:**
Rely on digital tools; need stronger communication protocols.
- **Effective Meetings:**
Set agenda, assign responsibilities, follow up with action items.
Unit 6: Control of Projects
- **Control Systems:**
Monitor and correct project performance.
- **Constraints:**
Time, Cost, Quality - all need to be balanced.
- **Performance Monitoring:**
Use KPIs, dashboards, and PMIS tools for real-time tracking.
- **Change Control:**
Evaluate and approve changes systematically.
- **Development Control:**
Keep each phase aligned with the project's goals.
Unit 7: Supply Chain Issues
- **Supply Chain Management (SCM):**
Coordinates all steps from raw material to final delivery.
Project Management Simplified Study Guide
- **Purchasing & Contracts:**
Ensure timely and cost-effective acquisition of goods and services.
- **Relationship Management:**
Move from transactional to partnership-based sourcing.
- **Modern SCM Techniques:**
JIT (Just-in-time), EDI (electronic data interchange), automation.
Unit 8: Project Completion and Review
- **Completion & Handover:**
Finalize deliverables, documentation, and client transfer.
- **Improvement Activities:**
Use feedback and audits to identify what could be better next time.
- **Audit & Review:**
Assess success, budget, timeline, and team performance.
- **Cost of Quality:**
Evaluate cost spent on ensuring good quality vs cost of fixing issues.
