PROJECT MANAGEMENT

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. Project management is accomplished through the use of the following 5 processes: 

• Initiation
• Planning 
• Execution
• Controlling and
• Closure

The project team manages the various activities of the project, and the activities typically involve:

• Competing demands for: scope, time, cost, risk, and quality. 
• Managing expectations of stakeholders. 
• Identifying requirements. 

It is important to note that many of the processes within project management are iterative in nature. This is partly due to the existence of and the necessity for progressive elaboration in a project throughout the project life cycle; i.e., the more you know about your project, the better you are able to manage it. The term “project management” is sometimes used to describe an organizational approach to the management of ongoing operations. This approach treats many aspects of ongoing operations as projects to apply project management techniques to them. A detailed discussion of the approach itself is outside the scope of this document.

The project management processes common to most projects in most application areas are described here. The process interactions illustrated here are also typical of most projects in most application areas. 

• Initiating Processes: Authorizing the project or phase is part of project scope management. 
• Planning Processes: Planning is of major importance to a project because the project involves doing something that has not been done before. As a result, there are relatively more processes in this section. However, the number of processes does not mean that project management is primarily planning—the amount of planning performed should be commensurate with the scope of the project and the usefulness of the information developed. Planning is an ongoing effort throughout the life of the project.
• Executing Processes: The executing processes include core processes and facilitating processes. 
• Project Plan Execution - carrying out the project plan by performing the activities included therein. 
• Quality Assurance - evaluating overall project performance on a regular basis to provide confidence that the project will satisfy the relevant quality standards. 
• Team Development - developing individual and group competencies to enhance project performance. 
• Information Distribution - making needed information available to project stakeholders in a timely manner. 
• Solicitation - obtaining quotations, bids, offers, or proposals as appropriate.
• Source Selection - choosing from among potential sellers. 
• Contract Administration - managing the relationship with the seller. 
• Controlling Processes: Project performance must be monitored and measured regularly to identify variances from the plan. Variances are fed into the control processes in the various knowledge areas. Adjustments are made to the plan to the extent of the variances observed (i.e., those that jeopardize the project objectives). For example, a missed activity finish date may require adjustments to the current staffing plan, reliance on overtime, or tradeoffs between budget and schedule objectives. Controlling also includes taking preventive action in anticipation of possible problems. The controlling process group contains core processes and facilitating processes. 

The various interactions between core and facilitating processes are: 

• Integrated Change Control - coordinating changes across the entire project. 
• Scope Verification - formalizing acceptance of the project scope. 
• Scope Change Control - controlling changes to project scope. 
• Schedule Control - controlling changes to the project schedule. 
• Cost Control - controlling changes to the project budget. 
• Quality Control - monitoring specific project results to determine if they comply with relevant quality standards and identifying ways to eliminate causes of unsatisfactory performance.
• Performance Reporting - collecting and disseminating performance information. This includes status reporting, progress measurement, and forecasting.
• Risk Monitoring and Control - keeping track of identified risks, monitoring residual risks and identifying new risks, ensuring the execution of risk plans, and evaluating their effectiveness in reducing risk.
• Closing Processes: The following components make the closing process. 
• Contract Closeout - completion and settlement of the contract, including resolution of any open items. 
• Administrative Closure - generating, gathering, and disseminating information to formalize phase or project completion, including evaluating the project and compiling lessons learned for use in planning future projects or phase.

Project failures are all too common - some make the headlines whereas the vast majorities are quickly forgotten. The reasons for failure are wide and varied. These failures could be listed into four areas: People related or Process related or Product related or Technology related.