ProjectManagement:Project Management comprises of two subjects:· Project· ManagementProject is a unique endeavor which have a unique startingand ending. Projects usually have following key things in them:· Unique start and end· Limited time and resources· Unique circumstances· Pre specified deliverablesWhile management is the art of getting things donethrough other people. Functions of the management are follows:· Planning· Organizing· Leading· PerformingNowin a broader way if we look at the definition of project management then “Project management isthe application of knowledge, skills, tools and techniques to projectactivities to meet project requirements.” (PMBOK®, 1). Project management helpsorganization to meet the customers need by reducing uncertainty and giving anoptimal solution in a specific time constraint. The basic purpose of projectmanagement is giving scope and quality of project in given time and cost.
Project Life Cycle:Project Life cyclerefers to a four step process followed by every project manager to complete therequirements of a project in given time moving through the completion of theproject. It provides a framework for the managers to complete any type ofproject. Every project has beginning, middle and an ending. These all combinetogether to show a path from starting to the end of the project are referred as”Project Life Cycle”.Following are the fourphases of project life cycle:1. Initiation2. Development(planning)3.
Implementation(execution)4. TerminationFollowing is thepictorial representation of Project Life cycle: Mavenlink, 2These four processes willcombine together to make a project successful. The explanation of these phasesare given below.
Initiation Phase:Itis the first phase of project life cycle. It is basically the starting point ofany project. It usually begin by defining the scope, purpose, objectives, deliverablesand the basic structure and flow of the Project.
It describe tat how theproject will move. What will be developed first and what will be developed atthe end. In initiation first of all project objective and need is identified.We define why we need to develop this project and what will be the outcomes ofthe project after we have developed it. A requirement document is usually madein the initiation phase in which all the requirements are identified. After theidentification of the requirements a feasibility study is done for the projectwhich describes that whether the specific requirements are possible in thegiven constraints or not. All the project discrepancies are addressed andsolved in feasibility study.
Onceall the discrepancies are removed then project deliverables and groups areidentified and project manager is appointed for the project. After theappointment of the manager we move to the second phase which is planning phase. Development (Planning) phase:Followingare the things done in this phase of cycle:· Project Plancreation· Scope Management· Risk Management· StakeholderIdentification· Budget estimation· Scheduling· Documentation Inthis phase first of all a plan of the project is made in which it is describedthat what are the requirements of the projects and further solution of theproject is started. In which way the project will go what technique will beapplied all of this is done in this phase. The project task and requirementsare identified this is scope management. It is the most important part of theproject life cycle. In the scope all of the basic needs that this project willdo is explained wisely. If it is not done properly then the project will fail.
For Example: As in Neelum Jhelum project the project scope was not identifiedproperly. In scope it was only give that the project manager is supposed tomake a dam but there was no scope of how this electricity will be connected toIslamabad grid station. After the completion of the dam the project manager hasattained all the requirements and the scope of the project was completed but itwas of no use for the government so it was a big failure. That’s why the scopedefining is very important. In case of risk management if any of the risk isremaining it is identified.Afterthe scope and risk management all the stakeholders are identified which willaffect the project directly or indirectly. Budget estimation is done after thisprocess. All cost of the project is made in this case.
In estimation of costusually there are two approaches top to bottom and bottom to top technique.This will make the manager to estimate the cost of the project. Scheduling anddeliverables are arranged in this phase too.
The most important thing everymanager need is documentation. Documentation is started in this process andeverything that we do during the project is documented and presented by themanager time by time to his head or the client to which the project is to bedelivered. Also it helps us to make any changes if we want to in the project bylooking at the documentation that where we have to make a change. At this pointthe project is planned in all the way and all the requirements and planning isdone and it is ready for the execution.
Implementation:Inthis phase all the planning that has been done in the last step is put intomotion and the project work is started. The most important thing of this phaseis maintaining control and communicating with the client as needed. Theprogress is done step by step and monitoring of each step is done. Aftercompletion of each step the manager ask for doing appropriate adjustments ifrequired in the project are made. Each of it is recorded also. Most of the timeof managers of each projects are spent in this step because of the reason thatevery step is to be monitored so closely and each of the deliverables of theproject is tried to be satisfied. If these are not satisfied then the projectwill fail.
So the manager spend a lot of time in this phase. During this phasetasks are performed by the people and the progress is shared to the manager bymeetings. This progress is also shared with the clients. Usually theinformation gained through these meetings and discussions are used by themanager to get the flow control of the project and if there are any variationsare to be made then it is also done in this project. All the stake holders arealso notified f any variances are to be made because stake holders will beaffected also if there has to be variations done in the project. The plan ofthe project is also updated and published time to time on regular basis becauseof the variations to be made every time. Project status reports are generatedalso on regular basis.
It tells a client that how much of his project is doneand how much of it is left.”Statusreports should always emphasize the anticipated end point in terms of cost,schedule and quality of deliverables”. After the implementation of each deliverable it shouldbe reviewed. If all the deliverables are produced and implemented onceaccording to the clients satisfaction and also he has accepted the finalproject solution then we move on to final phase which is termination phase. Termination:In this phase afinal touch is given to the project which include following things:· Releasing ofFinal Project to client· Termination ofProject· Termination ofsupplier contracts· Documentationdelivery· Project Resourcesrelease· Final AnalysisInthe termination phase all the project is submitted to client and all of itsdocumentation is provided to him. After doing it so all the contracts with thesuppliers are terminated and the project is also terminated. All thestakeholders are informed about the termination and resources of the projectsare released too.
At the end most of the big companies do is the analysis ofthe project in which they find out what were the hurdles in this project andwhat were the things that they did wrong and what were the beneficial thingsthat we have done in this project. Also these observations are very importantfor a manager so that he does not do these mistakes again. In this way the lifecycle of the project complete and also a project completes too.