A CRITICAL STUDY

BY : N.SAMARENDRA

INTRODUCTION
People have been undertaking projects since the earliest days of organized human activity. The hunting parties of our prehistoric ancestors were projects for example; they were temporary undertakings directed at the goal of obtaining meet for the community. Large complex projects have also been with us for a long time. The pyramids and the Great Wall of China, were in their day of roughly the same dimensions as the Apollo Project to send man to the moon. We use the term project frequently in our daily conversations.

 The fundamental nature of a project is that it is a temporary endeavor undertaken to create a unique product, service, or result.
Projects are distinguished from operations and from programs

 TEMPORARY ENDEAVOR--To be temporary signifies that there is a discrete and definable commencement and conclusion UNIQUE DELIVERABLE --The uniqueness of the deliverable, whether it is a product, service, or result, requires a special approach in that there may not be a pre-existing blueprint for the projects execution PROGRESSIVE ELABORATION --Progressive elaboration is the revealing and focusing of details through time.

PROJECT VS.PROGRAM
A project can include a number of projects . EXAMPLE : A construction program might includes projects to develop new housing and other projects to renovate existing homes.

 Project management is the process of the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. That is, project management is an interrelated group of processes that enables the project team to achieve a successful project

CHARACTERISTICS
Initiation
Defines the project objectives and grants authority to the project manager.

Planning
Refines the project objectives and scope and plans the steps necessary to meet the projects objectives.

Executing
Puts the project plan into motion and performs the work of the project.

Controlling
Measures the performance of the executing activities and compares the results with the project plan.

Closing
Documents the formal acceptance of the projects product and brings all aspects of the project to a close.

ADVANTAGES OF USING FORMAL-PROJECT MANAGEMENT

Better control of financial, physical, and human resources. Improved customer relations. Shorter development times. Lower costs. Higher quality and increased reliability. Higher profit margins. Improved productivity. Better internal coordination. Higher worker morale (less stress).

ROLE OF PROJECT MANAGERS

A project manager is the person who takes ownership of a project within the boundaries set by the project committee project manager should also strive to think and act out of the box Develop the project plan Manage and communicate with project stakeholders Manage the project team and project committees Manage the project risk Manage the project schedule Manage the project budget Manage the project conflicts Manage quality

BASIC ELEMENTS TO MANAGE

PROJECT SCOPE BUDGET, BUSINESS PLAN AND REPORTS PLANNING PEOPLE

TOOLS AND TECHNIQUES OF PROJECT MANAGEMENT

Project management is a challenging task with many complex responsibilities Project managers should choose a project management tool that best suits their management style. No one tool addresses all project management needs Program Evaluation Review Technique (PERT) and Gantt Charts are two of the most commonly used project management tools

 PERT is a planning and control tool used for defining and controlling the tasks necessary to complete a project PERT planning involves the following steps Identify the specific activities and milestones Determine the proper sequence of activities Construct a network diagram Estimate the time required for each activity

PERT CALCULATION
For each activity, the model usually includes three time estimates: Optimistic time - the shortest time in which the activity can be completed. Most likely time - the completion time having the highest probability.

Pessimistic time - the longest time that an activity may take.

From this, the expected time for each activity can be calculated using the following weighted average:

Expected Time = (Optimistic + 4 x Most Likely + Pessimistic) / 6

Benefits of PERT chart

Improved planning and scheduling of activities. Improved forecasting of resource requirements. Identification of repetitive planning patterns which can

be followed in other projects, thus simplifying the

planning process. Ability to see and thus reschedule activities to reflect inter project dependencies and resource limitations following know priority rules.

 GANTT CHARTS are used to show calendar time task assignments in days, weeks or months. The tool uses graphic representations to show start, elapsed, and completion times of each task within a project. Gantt charts are ideal for tracking progress. The number of days actually required to complete a task that reaches a milestone can be compared with the planned or estimated number. The actual workdays, from actual start to actual finish, are plotted below the scheduled days.

Benefits of using a GANTT chart

Gives an easy to understand visual display of the scheduled time of a task or activity. Makes it easy to develop "what if" scenarios. Enables better project control by promoting clearer communication. Becomes a tool for negotiations. Shows the actual progress against the planned schedule. Can report results at appropriate levels. Allows comparison of multiple projects to determine risk or resource allocation. Rewards the project manager with more visibility and control over the project

vs
GANTT chart visually shows the duration of Tasks whereas a PERT chart visually shows the sequence dependencies between tasks. GANTT visually shows the Time overlap of Tasks whereas a Network does not show time overlap but does show which tasks could be done in parallel. Some form of GANTT chart can visually show Slack Time available within an Earliest Start and Latest finish time.. Most Project Managers find PERT very helpful for scheduling, monitoring and controlling Projects.

PERT is recommended for Large Projects with high inter task dependencies and the GANTT chart for simpler Projects.
Most Project Management Case Tools nowadays (eg. MS-Project ) allow the best feature of PERT to be incorporated into GANTT Charts.

CONCLUSION
A project is temporary, unique, and the product of a multifaceted and progressively elaborated process that produces a solution for a specific objective. For the endeavor to be successful, the project must be accomplished on time, within budget, and to the appropriate degree required to satisfy the objective. For success to be achieved, the project manager must be skilled and operate in an environment which enables a project team to function. Excellence in project management should be viewed as the positive trend in the performance of successful projects

THANK YOU