Managing Projects Successfully

"Virtually every company will be going out and empowering their workers with a certain set of tools, and the big difference in how much value is received from that will be how much the company steps back and really thinks through their business processes…thinking through how their business can change, how their project management, their customer feedback, their planning cycles can be quite different than they ever were before." - Bill Gates quotes (American entrepreneur and founder of Microsoft Co.)

Project and Project Management

All entrepreneurs do not get success in battlefield. Since the age of war till date, strategic decisions and Excellency in operations had proved success. In most of the organizations, projects aren't well planned nor are they evaluated well.

The tendency is to jump right into execution and as soon as execution is completed (which usually isn't soon), move on to the next project without evaluating what happen on the present project and what could have been improved.

What is the NEED?

Project Management in simple terms is the application of knowledge, skills, tools and techniques to a broad range of activities to meet the requirements of the particular project. Successful project management requires more front and back end resources (and less middle) than are usually allocated."

Project management knowledge and practices are best described in terms of their component processes.

These processes can be placed into five process groups.

Initiating,
Planning,
Executing,
Controlling and
Closing.

The processes have further nine knowledge areas including all teams and groups of organization e.g. Production, Finance, HR, Sales and Quality (Research).

Project integration management,
Project scope management,
Project time management,
Project cost management,
Project quality management,
Project human resource management,
Project communications management,
Project risk management and
Project procurement management.

Few Examples on Successful Project Management

1. Rebuilding the Pentagon after the 9/11 terrorist attacks.
2. The transformation of IBM by Lou Gerstner from an IT hardware giant to an IT software and computer services leader.
3. Organizing and managing the Salt Lake City Winter Olympics
(Source: Project Management Institutes)
4. US Navy in the development of the Polaris missile system (Source: PM Today)

Probably we are now very much clear with project management – meaning, phases of life cycle and knowledge areas. Further for successful management, adoption of tools, methodology or techniques enable the organization to get enrich success in projects.

PRINCE (PRojects IN Controlled Environments)

PRINCE2 is one of the best-proven methodologies developed by the government of the United Kingdom (UK) and used internationally, especially in information technology (IT) environments. PRINCE2 outlines eight processes, which can be summarized as follows.

Start Up
Direction
Initiation
Control
Boundary management
Planning
Product delivery management
Closing

Startup: The decision-makers gather and appoint a Project Manager. Together, these people all define the need for the project and outline the processes by which it is to be executed.

Direction: A Project Board is responsible for the overall success of the project, but an individual called the Project Manager, who reports to the Project Board, is charged with the responsibility of managing the details.

Initiation: The Project Manager prepares a Project Initiation Document. This document is submitted to the Project Board for approval. If it is not approved, it is returned to the Project Manager for revision.

Control: The project is broken down into manageable stages, the number of which depends on the project size and risk level. Each stage contains plans for the succeeding stage. Before a new stage can be begun, the current stage must be fully executed.

Boundary management: The current stage is reviewed, and the process for the next stage is developed. The project can continue only after the Project Board has approved the execution of the current stage and the plan for the next stage.

Planning: This includes decisions as to what products will be produced, the activities that will be required to produce the products, estimates of the cost, time, and other resources that will be necessary, risk analysis, activity scheduling, and process streamlining.

Product delivery management: The Project Manager must make sure that the right products are produced according to the planned schedule.

Closing: After the project has been completed, the Project Manager conducts a Post Project Review, which is an evaluation of the project's outcome. Once the Project Board has approved this document, the project is closed down.

Log on an official PRINCE site prince2.com for further details.

Critical Chain Project Management (Theory of Constrains)

Theory of Constrains consists of a number of common-sense tools and processes.

The tools allow project manager to focus efforts on those few areas, called "constraints," which restrict team’s ability to improve.

These constraints are the leverage points towards which successful improvement efforts must be directed. Application of TOC to project management is relatively new, but initial results are very promising. Completion times have been dramatically shrunk for defense R&D contracts, aircraft repair, new product development and various types of construction.

MATISSE (Methodologies and Technologies for Industrial Strength Systems Engineering)

The approach of the MATISSE project involves exploiting and enhancing existing formal methods developed and used by the partners of the project together with associated technologies that support the correct construction of software-based systems.

PERT and CPM

"If your project doesn't work, look for the part that you didn't think was important"
- Arthur Bloch

PERT and CPM are both methods for predicting the cost and completion time of projects. PERT is usually concerned just with the time taken, while CPM looks at cost/time tradeoffs.

PERT and CPM belong within Network Theory, a variety of mathematical analysis originating in electrical engineering, but applicable to problems in many other areas. PERT was first used by the U.S. Department of the Navy in planning and carrying out the development of the Polaris submarine-launched missile program. It is now used for project planning in many industries.

I believe this has been quite knowledge sharing article on project management.

Other than adopting project management methodologies, the importance is personal interest of a project manager in project.

You flourish your project with your heart and mind. However let your team do their work with freedom to expand their horizons.

"With every project you do, you bring out a part of yourself, and it seems to be quite a good way of expanding a person," says Kate Beckinsale.