What is Project Management and its Implementation Successfully
Project management is the implementation of knowledge, skills, tools and techniques to a project’s activities to satisfy its requirements and achieve the expected benefits.
Companies that base their project management methodology on good Project Management practices lose 21 times less money than their counterparts that have no references in this area (PMI®, 2018).
We, therefore, dedicate this theme to the demystification of the operational mode of this discipline while explaining all its processes, methods, tools, and many other essentialities.
Summary
1- Project Management Files
2- What is Project Management
3- What is an operation?
4- What is a program?
5- What is a project portfolio?
6- The 3 ways to manage a project
7- The life cycle of a project
8- What are the stages of project management?
9- What are the tools and methods of project management?
10- Conclusion
Project Management Files
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What is Project Management
A project is a time-limited initiative undertaken to create a unique product, service or result.
It is different from an operation or a program.
Project management is mostly a lot of “common sense” backed by the application of knowledge, skills, tools and techniques to project activities.
The goal is to achieve the objectives set and achieve the expected benefit by creating value.
To simplify, we can say that project management is represented by what is called the golden triangle, or the triple constraint, which highlights three main project management constraints, namely:
Project Management Triangle
Indeed, the whole point is to manage and maintain the balance between its three decisive factors for the success of a project.
What is an Operation?
A transaction is a continuous and repetitive activity intended to provide products or services.
Within this framework, resources are assigned to perform the same tasks according to pre-established procedures.
What is a Program?
A program is a group of projects, other programs and operations grouped together whose management is coordinated to obtain benefits that would not be possible by treating them separately.
Attention: The programs are not large-scale projects.
What is a Project Portfolio?
Organizations may choose to use a project portfolio to manage multiple ongoing programs and projects effectively.
A portfolio refers to projects, programs, sub-portfolios and operations. It is managed as a group to achieve strategic objectives.
Learn more about managing a project portfolio.
The 3 Ways to Manage a Project
Project management is a solid foundation for organizations to achieve their strategic goals.
Nevertheless, we cannot stop at the definition of the management of projects evolving in an autonomous way.
Indeed, a project can be managed in 3 different ways reliant on the context of the project and the organization:
As a standalone project
as part of a program
or a wallet
In the latter two cases, project managers interact with program managers or portfolio directors.
As if that weren’t enough, did I need to introduce new notions of program and portfolio management?
The truth is worth it!
The following figure illustrates a simplified example of the relationship between portfolios, programs, projects and operations:
The Life Cycle of a Project
The project management process is represented by a life cycle comprising 5 phases, namely:
The preliminary project and the initialization
Planning
Execution
Control and follow-up
And the fence
Each phase comprises a series of tasks that work towards achieving a common project goal.
And each phase is characterized by several project deliverables. These are intermediate results that contribute to the achievement of the expected result of the project.
The project’s ultimate goal is to create value, which transitions a project from a current state to a desired future state.
What are the Stages of Project Management?
Here are the project management steps:
1) The preliminary draft
This project management step comes before the actual start. It is the collection of necessary and relevant information to clarify the decision to “start or not” the project.
The key outcome of this stage is the opportunity study.
2) Initialization
Once the opportunity study gets approval and the project is ready to proceed, the life cycle can begin.
The next step is, therefore, the initialization or start of the project.
During this phase, which marks the start of the project, it is essential to:
Framing the project objectives
Specify the expected deliverables of the project, the desired deadlines and the budget allocated to the project
Identify project stakeholders
Carry out an initial risk analysis
Set up project governance (authorities, who makes which decision, etc.)
The main deliverables of this stage are:
The project charter
The macro schedule
The risk register
The launch meeting or kick-off meeting
3) Preparation and Planning
At this stage, the content of the project is defined more precisely, and detailed planning is established for deadlines, budgets, and human resources.
This phase aims to define how this project will be carried out, monitored and controlled, and then closed.
The main deliverables of this stage are:
The project management plan
The expression of needs
Specifications
The Gantt chart
The RACI Matrix
The communications plan
4) Realization or Implementation
During this stage, the product or service is actually produced according to the planned plan and in accordance with the applicant’s requirements.
The objective of this phase is to achieve the project deliverables by implementing the project plan developed in the previous phase.
The main deliverables of this stage are:
Follow-up of deliverables
The meeting report
Change request log
The revenue strategy
5) Project Control
The control phase takes place in parallel with the execution phase.
The primary objective of this step is to ensure that the project objectives are achieved by regularly monitoring and measuring progress in order to identify deviations from the plan.
the project, so that corrective action can be taken if necessary.
The main deliverables of this stage are:
Budget tracking
The dashboard
6) Project Closure
At this stage, the deliverables are completed and the product or service is handed over to the internal or external client, the project assessment is carried out, and its administrative closure carried out.
Find out here how to develop project feedback.
In parallel with all these phases, the project manager continuously monitors and monitors the project work.
project management phases
Effective DB Project Manager’s Guide
What are the tools and methods of project management?
Each phase is characterized by the use of a number of project management tools, as well as various techniques.
1) Project Management Tools
Project management tools are resources (software, media and documents) that help organize and manage a project efficiently from start to finish.
To only cite a few :
SWOT analysis: analyzes the strengths and weaknesses of a project to get off to a good start
The Gantt chart: allows you to plan a project over time
The PERT technique: allows all project activities to be organized over time
The dashboard: allows you to communicate the progress of the project using key indicators
And many others
Discover our selection of project management software here.
2) Project Management Methods
Among the project management methods, there are two main families:
Classic methods
Agile methods
2.1) Classic Methods
Traditional methods are based on a sequential and linear approach to managing the different phases of a project.
These methods are generally suitable for projects where the finished product is known and mastered in advance. These break down as follows:
2.1.1) The Waterfall Method
This method suggests that the different project phases follow one another sequentially, starting with the expression of needs at the top of the cascade.
Generally, these phases follow one another as follows:
Framing: collection and documentation of needs
Analysis: analysis of the needs collected
Design: development of a solution that will meet the needs collected
Implementation: implementation of the solution according to the specifications produced during the design phase
Tests: identification of any non-conformities with the initial needs
According to this method, each phase must be completed to reach the next phase.
2.1.2) The V Cycle
Two streams of activity characterize the V-cycle: one descending and the other ascending:
Downward flow: this flow begins with the expression of needs to end with the implementation of the solution in accordance with the needs collected
Bottom-up flow: this flow verifies the quality of the product at each phase of the project: scoping, analysis, design, implementation, and testing
While the two models, V-cycle and cascade, are based on the same sequential management approach, the V-cycle is more realistic in that. It includes fewer round trips since the adjustments are made at the end of each phase.
Other examples of methodologies based on the sequential approach are Prince2®, PMP®, or even HERMES.
Examples of tools of these classic methods: the PERT technique, Risk matrix, the power/interest matrix for managing stakeholder commitments…
2.2) Agile Methods
Agile methods derive from agility, the purpose of which is to create a framework that allows the design of products with value.
It is recommended to operate in agile mode when:
Requirements are unstable or changing, and therefore customer and user involvement is highly expected
or when the project requires the use of new solutions never tested before
Examples of its tools: Scrum, Kanban, Extreme programming (XP), SAFe, etc.
These tools and methods are no longer the preserve of experts.
Anyone interested in project management or becoming a project manager can access these tools and methods more easily.
Conclusion
The success of your project will depend not only on your ability to manage the project tools but also, above all, to manage the project activities effectively while respecting quality, cost and deadlines.
In short, effective project management includes strategic, technical, and human aspects. The latter is a key success factor often overlooked or poorly managed by organizations.
After all, a project manager is a human resource who interacts daily with project participants and stakeholders. He, therefore, strives to develop good relationships inside and outside his organization.
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