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Project Management

Lecture 2 Project Management Concepts. Project Management. What is Project Management?. PMBOK defines Project Management as: “The application of knowledge, skills, tools and techniques to carry out project activities in order to meet stakeholder needs and expectations from a project”.

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Project Management

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  1. Lecture 2 Project Management Concepts Project Management

  2. What is Project Management? • PMBOK defines Project Management as: • “The application of knowledge, skills, tools and techniques to carry out project activities in order to meet stakeholder needs and expectations from a project”

  3. What is Project Management? • Project Management is the management of project related activities with in specified time, cost and performance standards along with good customer relation.

  4. Project Management Processes • PM can be defined in to five stages: • Defining • Planning • Executing • Monitoring or Controlling • Closing

  5. Defining • What is that project • What are the project objectives • What are the expectations of stakeholders • What are the project deliverables • What are the constraints of the project

  6. Planning • Plan all the project activities • Plan the relationship of these activities with each other • Plan the duration of these activities • Plan the deadlines • Plan the outcome of specific activity • Plan requirements for completing the project • Plan the risks associated with the project

  7. Executing • Build the project team • Assess the available resources for project • Assign resources for the project • Work on project begins

  8. Monitoring and Controlling • Look after the overall progress of the project • Keep comparing the actual parameters with targeted parameters • Keep making the necessary changes

  9. Closing • All stakeholders analyze the final outcome of project • Project team is pulled out from the project

  10. Project Management Environment • Some key components of Project Management environment are: • Stakeholders • Clients • Own company’s organizational structure • Market conditions • Competitors • New technology • Rules and regulations • Politics • Economic condition

  11. PM Bodies in World • APM (Association for Project Managers) • PMI (Project Management Institute), USA • IPMA (International Project Management Association) • AIPM (Australian Institute of Project Management) • PMAJ (Project Management Association Japan)

  12. Body of Knowledge • APMBOK • PMI’s BOK or PMBOK • IPMA’s BOK or IPMABOK

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