A Presentation of Concepts

of Project Management and

characteristics

Prepared By : Sahil Singla

Class : MBA IB
Roll no : 11353010
Project Management….

Work Smart Not Hard !!!

 What is a Project ?
A project is a series of tasks that need to be
completed in order to reach a
specific outcome. A project can also
be defined as a set of inputs and
outputs required to achieve a
particular goal.
Project management is the
practice of initiating, planning,
executing, controlling, and
closing the work of a team to
achieve specific goals and meet
specific success criteria at the
specified time.
 Why do people learn PM?
• To explore the latest concepts and techniques of
project management.

• To increase value/contribution to the organization. To

prove yourself skillful in managing projects.

• To learn a new thought process that helps organized

thinking and structured approach.

• To acquire a professional degree/ recognition and

increase job prospects.

• Endless possibilities and benefits……..

 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 risk and failure points and make

backup plans.

• To lead a project team effectively and communicate

Well among team
Advantages
In built Monitoring/ Sequencing
Easy and Early identification of Bottlenecks
Activity based costing
Identification and Addition of missing and new
activities
Preempting unnecessary activity/expenditure
Timely Completion
Assigning tasks
Reporting
 Characteristics of Project
The project should have a specified target.
The project should be unique and cannot be replicated with the
same task and resources giving the same results.
The construction project should not be a routine work, although
there are some aspects that are routine.
The construction project shall consists of a number of
associated activities contributing to the project as a whole.
The time limit for completion of project shall be defined.
The total cost of construction project shall be defined and
project shall be completed within the given budget.
The project should provide unique opportunities to acquire new
skills
 Characteristics of Project
• Uniqueness. Project requires the doing of
something different, something that was not done
previously. Even in what are often called “routine”
projects such as home construction, the variables
such as terrain, access, zoning laws, labour market,
public services and local utilities make each project
different. A project is a one-time, once-off activity,
never to be repeated exactly the same way again.
 UNIQUENESS
DMRCL HYDERABAD METRO
RAIL

1.NO. OF STATIONS-173 1.NO. OF STATIONS-88

2.LENGTH-231 KM 2. LENGTH-194 KM

3.DURATION- 4 YRS 3. DURATION-3 YRS

4. COST- RS.22373 CR. 4. COST-18800 CR.

 Implementation
Regular Monitoring
Resource Support
Critical issues discussed and solution
Meeting with the team on completion of
each major milestone
Track the progress against the plan
System to add/delete tasks in the PMT
 Consequences of
not using PMT
 DELAY

 COST

 WASTE OF RESOURCES
 QUALITY

 DISSATISFACTION

 BAD REPUTATION