This video will give you information about Project and Project Management
A unique undertaking composed of interrelated activities which has a well defined beginning and end , often involving staff from cross-functional groups, that operates under specific constraints of resources, schedules, and requirements
Project : Converting a vision, a dream or a need to reality.
A job that has a beginning and an end (Time)
A specified outcome(Scope)
At a stated level of Performance (Quality)
At a financial plan(Costs).
Project Characteristics :
Temporary : Has definite Start and Finish
Unique : Product/Service is different in some distinguishing way
According to Harold Kerzner: A project is any series of activities and tasks that:
• have a specific objective to be completed within certain specifications
• have defined start and end dates
• have funding limits
• consume resources.
A Project is A TEMPORARY ENDEAVOR undertaken to create A UNIQUE PRODUCT, SERVICE or RESULT!
What is project management?
A set of skills and methods of planning, organizing, and managing a project from inception to its successful completion
Application of knowledge, skills , tools & techniques to project activities in order to meet stakeholder needs & expectations from a project.
Needs : stated part of the project
Expectations : unstated part of the project
“Completion of Project on time within financial plan without compromising Quality”
Why do companies use PM?
• To handle projects effectively in an organization.
• To define the project and agree with the customer
• To plan and assess resource needs for the project
• To estimate project cost and make proposals
• To plan & schedule activities in a project.
• To allocate the right resource at the right time.
• To assess hazard and failure points and make backup plans.
• To lead a project team effectively and communicate well among team members.
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