You and I have heard the word "Project" uncountable times & we may have been participated in a project but ;
Do we really know what "Project" means?
Why that thing we participated was called a project?
Have we ever made an effort to understand the concept?
But Why??? Because no one we dealt with asked for an explanation on projects and concepts behind it. So why bother learning all that? 🤦♂️
After reading this if you still think project is something we do everyday, go knock your head somewhere (you don't have to do all what I say) but what I wanted to highlight is that "Projects" are special and should be treated accordingly.
What is a Project??
Look.....Even though I would give you a definition for "project" there is no such specific standard definition. You can define project the way you want but your definition MUST address few key points which i have highlighted below 😎.
A unique process, consist of a set of coordinated and controlled temporary activities with start and finish dates, undertaken to achieve an objective confirming to specific requirements, including the constraints of time, cost and resource.Now that you know what a project is, let's go through few key Characteristics of a Project.
Unique in nature - Done for a very specific requirement. Hence, different one to another.
Have definite objectives (goals) to achieve – Defined in terms of Scope, Schedule & Cost.
Requires a set of resources - All activities we do consume resources and most of them are scare.
Have a specific time frame for completion with a definite start and finish.
Involves risk and uncertainty - No future can be predicted with 100% accuracy. We proceed with estimated future after an analysis of historical data and other factors.
Requires cross-functional teams and interdisciplinary approach - No project is performed alone but different stakeholders may contribute. Don't try to do a "one man show" and fail 🤷♂️.
Has an end customer - You will always perform a project for another party which may be internal or external.
Just like you and me, Projects also go through different phases in life. We call that Project Life Cycle. You know in different stages in our lives we do different set of activities. For an example, when you are a teen it is more like educating ourselves and setting the base but when you are an adult you would have more responsibilities and your focus would be doing a job, feeding a family & etc and it is totally different when you are old, then you would focus on resting, taking right medicine if required and be around family. It is the same with projects. You will be performing various activities in project's life. Let us now go through the different phases of Project Life Cycle.
Initiation Phase This phase identifies a business need, problem or opportunity and brainstorm ways that your team can meet this need, solve this problem, or seize this opportunity. During this step, you figure out an objective for your project, determine whether the project is feasible, and identify the major deliverables for the project.
Planning Phase Larger project is broken down into smaller tasks, build the team and prepare a schedule for the completion of assignments. Not only the operational work directly linked to project but also activities such as budget preparation, approval matrix perparation, risk register, communication plan and other project related initial planning would be performed. Smaller goals within the larger project,will ensure each is achievable within the time frame. Smaller goals should have a high potential for success.
Execution Phase You plan and sleep will not make your dream come true. You have to work for it. This is thr phase where you turn the plan into action. The project managers job in this phase of the project management life cycle is to keep work on track, organize team members, manage timelines, and make sure the work is done according to the original plan. It is very important for the team to continuously montior and control activities to avoid deviations from the plan and minimize the risk of errors. Risk management team will work along with the main operational team to analyze potential risks and act proactively to mitigate the impact. Also, management report preparation and cost, quality & time management would be major activities during the execution phase.
Closure` The project team will provide final deliverables, release project resources, and determine the success of the project. A Post evaluation must be conducted after the closure to evaluate the successfulness of the project.
Did you realize that above is a lot of work and there is a requirement to manage all the activities effectively to achieve our final objective?
Project Management
This is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time.
Project Management will make no sense if you are not aware of the requirements to mange a project. Below are few points that would boost your awareness.
The achievement of the project’s main goal within the given constraints (Scope, time, quality & time).
The successful development and implementation of all project’s procedures.
Productive guidance, efficient communication and apt supervision of the project’s team.
Production of a complete project which follows the client’s exclusive needs and objectives.
Rubbing over the positives of projects and project management is not an assurance of success in future but negativity can be minimized if you are aware of possible reasons for failure.
Poor project and program management discipline.
Lack of executive level support - Senior management interest and involvement would make life easy for the project team.
Wrong team members - Right person should be given the right responsibility.
Poor communication - According to what I see, this is the most important activity in any stage of the project.
Not setting effective and accurate measures to evaluate the success of the project.
No risk management approaches - I always say that overconfidence can ruin a future.
Inability to manage change/s.
The Golden Triangle in Projecct Management
It is obvious that not all what we expect would come true. That is a common norm but we must be flexible to deal with such situations and overcome the negativities. Sometimes. overcoming negativities doesn't mean that you get back on the exact track to achieve the same objective you initially had instead you may have to slightly change but still achieve what you want to achieve.
Even in projects the norm applies the same way but the problem here is, there are many stakeholders who would participate in a project. Most important point is that you are performing the project activities to deliver an agreed outcome to a third party (You have a customer). Therefore, if you see a potential threat to achieve the initially agreed outcome, there would be a requirement for discussions/negotiations with stakeholders and agree upon changes.
There are three key areas linked to scope; Cost, Quality & Time. Stakeholders will have to play around these three to agree on a common ground and proceed forward. Below diagram would summarize the Golden Triangle.
Purindu B Jayatilake
MSc Eng (Reading), MBA, BSc (Hons) Eng, ACMA (UK), CGMA
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