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Project Management Lecture 2

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Hemel Barua Udoy
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9 views20 pages

Project Management Lecture 2

Uploaded by

Hemel Barua Udoy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Preliminaries-2

Md. Thasinul Abedin


MBA(Accounting); MSc (Economics and Finance)
Assistant Professor of Accounting and Finance
University of Chittagong

February 6, 2025

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Role of a Project Manager [1]

The project manager is responsible for


coordinating and integrating activities across
multiple functional lines. The integration activities
performed by the project manager include:
▶ Integrating the activities necessary to develop
a project plan
▶ Integrating the activities necessary to execute
the plan
▶ Integrating the activities necessary to make
changes to the plan

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Role of a Project Manager [2]

Through the integrative responsibilities, a project


manager must convert the inputs (resources) into
the outputs of products, services, and ultimately
profits. In order to do this, the project manager
needs strong communicative and interpersonal
skills, must become familiar with the operations of
each line organization, and must have knowledge of
the technology being used.

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Role of a Project Manager [3]

Figure: Integration Management

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Role of a Project Manager [4]

▶ In the project environment, everything seems


to revolve about the project manager.
▶ Although the project organization is a
specialized, task-oriented entity, it cannot
exist apart from the traditional structure of
the organization.
▶ The project manager, therefore, must walk
the fence between the two organizations. It is
referred to as interface management.

5 / 20
Role of a Project Manager [5]

The term interface management can be described


as managing relationships:
▶ Within the project team
▶ Between the project team and the functional
organizations
▶ Between the project team and senior
management
▶ Between the project team and the customer’s
organization, whether an internal or external
organization

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Common Resources of a Firm

▶ Money
▶ Manpower
▶ Equipment
▶ Facilities
▶ Materials
▶ Information/Technology

7 / 20
How Project Manager Controls
Resources?
▶ Actually, the project manager does not
control any of these resources directly, except
perhaps money (i.e., the project budget).
▶ Resources are controlled by the line managers,
functional managers, or, as they are often
called, resources managers.
▶ Project managers must, therefore, negotiate
with line managers for all project resources.
▶ When we say that project managers control
project resources, we really mean that they
control those resources (which are temporarily
loaned to them) through line managers. 8 / 20
Today’s Project Manager
▶ Today, we have a new breed of project
manager. They have a command of
technology rather than merely an
understanding of technology.
▶ If the line manager believes that the project
manager does in fact possess a command of
technology, then the line manager allows the
assigned functional employees to take
direction from the project manager. The
result is that project managers are expected
to manage people.

9 / 20
Project Life Cycle [1]

Phases of Project Life Cycle are given below:


▶ Concept
▶ Definition
▶ Planning
▶ Execution
▶ Closeout

10 / 20
Project Life Cycle [2]

Figure: Phases of a Project Life Cycle

11 / 20
Vision Statement

It describes the desired long-term results of a firm’s


efforts. For example, Microsoft vision statement
was “a computer on every desk and in every home.”
A firm’s vision statement reveals, at the highest
levels, what an organization mostly hopes to be
and achieve in the long term.

12 / 20
Mission Statement

A mission statement provides a concrete,


action-oriented description of what a firm will do
and why. It communicates the firm’s purpose to
stakeholders, including investors, customers, and
employees.
A mission statement can serve as a road-map of
strategic planning to work toward the firm’s vision
statement.

13 / 20
Goals vs. Objectives

▶ Goals are the targets or outcomes individuals


set to achieve over a specific period.
▶ Goals provide clarity and direction, acting as
a road-map that guides us toward our desired
destination.
▶ Objectives are measurable steps taken to
achieve goals.

14 / 20
Strategies vs. Goals
▶ The difference between goals and strategies is
that while goals answer the question of what
to do, the strategies answer the question of
how to do it.
▶ Strategies can be defined as the
methods/plans/ways by which the goal
defined by the firm is to be achieved within
the prescribed time.
Example: The company plans to make a 25%
profit in the year 2021-2022 by increasing the sales
of its products by 50%.
15 / 20
Reasons of Project Failure
▶ Poor Planning
▶ Kitchen Sink Syndrome
▶ Inconsistently Defined Resources
▶ Setting Unrealistic Deadline
▶ Lack of Transparency
▶ Poor Communication
▶ Unrealistic Expectation
▶ Inadequate Monitoring
▶ Lack of Risk Management
▶ Inadequate Stakeholder Management
16 / 20
Poor Planning
▶ Project failures are mostly caused by
inadequate planning.
▶ The success of a project greatly depends on
how well the scope, responsibilities of each
participant, and timeline are defined.
▶ Unprecedented dangers and problems are
exposed to a project when there is no clear
planning.
▶ After the project is underway, trying to solve
problems will inevitably result in the waste of
valuable time.
17 / 20
Kitchen Sink Syndrome

When project requirements change during the


course of work and expand beyond the original
plan, firm ends up with more tasks and
responsibilities than expected. This situation is
known as scope creep or requirement creep, or
kitchen sink syndrome.

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Inconsistently Defined Resources

Planning shouldn’t just focus on schedules,


meetings, and duties. It’s also important to
consider human, financial, intellectual, and
structural resources. When these factors aren’t
clearly defined, project deadlines can be missed,
putting the project’s success at risk.

19 / 20
Inadequate Stakeholder Management

Poor stakeholder management, such as narrow


definition and failure to balance compliance and
strategic opportunities, can lead to project failures.

20 / 20

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