Basics of Project Management
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3 hours 24 minutes
Hello and welcome to the county. A project Close B K 0004
This is your instructor Murli Lab. You Today we are beginning with this interesting course.
Let's look at the learning objectives in general.
First, we're gonna learn what a project is in what is involved in his management. What are programs and portfolios having balance projects
and connections between projects on operations? Family? What justifies the only taking off problems?
So what is a Lotus Project? Mansions?
Project management is the application off practices. Knowledge tools experience techniques towards the successful completion off endeavor or project
as a temporary
defined by a start in an ending date, and that creates a unique product
service or result.
This is very important that we keep in mind as projects and operations are too different
irons, even though they could work
alongside each other, they do not have the same goals,
you know, now we know what a project is. What is a program?
connects different projects
starts different projects that have so relationship.
When the projects are related, they could be managed under a single program.
So we could say that program's a group off related projects that are being coordinated. Any coherence? Wait.
But what is the programs or the projects are not late.
What if there is a larger
seven goals that we are trying to achieve with different A tease?
Here we have The Project Portfolio Portfolio is a group of projects that could be related or not relatable,
but they are managed under a single operational control. In this case, this operational control is called the Project Management Office.
Let's have a visual look off how portfolios, programs and projects being are ready to leave.
You know? Example, we have a poor fool you
handled by Moon Project Management Office off the company X Y Z
Below. There are two programs, and each program has a number of projects. Problem on has products wanting to underneath meaning by that that this projects have some sort of association relationship. Maybe they share. Resource is maybe they have common goals.
Maybe they support each other in terms off.
The alcohol's are expected
on the ride we have program to and beneath. We have Project three, and as we can see, there's no connection between Project three and younger two projects.
Now this is the most interesting part. Off
Project Management Project Management has a number for streams, which we will explore later on
in one of the future moderns.
But the key
challenges are this. Pyramid triangle or or set off those strains that we'll always be present of in project. The 1st 1 string is the scope.
The scope is one must be done
and lies is important to know. If we do not have clear goals as to what is the intended goal and how it should be approached or achieved, we may end up investing. Resource is, namely people, money or time
that will not yield. They intend the results and D. A. L course.
Extending the project in anonymous is our way.
The other constrain is Stein, which I have mentioned already. It's part of the school.
affects the overall goal off the project where US time is a scheduled. If you remember, we mentioned, a project is defined ankle strain, but by beginning and ending date,
so you the amount of time that we have
or is not managed efficiently. We will have also assurance or we will have, uh, delay in delivering the intended outcomes. Finally, costs. And, as you know, time is money
and he's the skull perfects a time, and the time it affects the costs everything is into really modifying or emphasizing more on one of these three areas will definitely affect the results on the other two.
If we increase this coat costs, maybe we'll have to shrink the time or the scope if we affect the time. Maybe this will affect the cost on scope. And likewise, if we affect the scope, costs in time will be as well effect changing any value in any
drafting or unplanned way. Well, outer, the other two.
And now what is the difference between projects and operations? I said said before,
It's important that we remember that a project is constrained or defined as a temporary in there.
Where us operation is from teams is repaired.
So in terms off its duration,
projects have a short duration, or at least our finite one, where its operations are basically the life blood off the enterprise. So that means is continually being before
projects. As I said, I always temporary where US operations are ongoing.
The result of a project are planned and modern.
Where's the operations? The results are always executed and control.
Finally, the purpose off a project is that it has a specific objective wears in celebration. It sustains the business.
Put in other ways,
a project achieves a specific goal
to produce something new that the enterprise can later on. Focusing resources on where US operations are represented, the continuous effort through which the company subsists
One important aspect off project management is the Project life cycle. We will investigate and
invest some time on this five areas.
The present life cycle is a way off progressively and carefully planning the each stage each step.
So where's the successful conclusion or completion off the intended goals?
The idea for having a product lifecycle is to establish first how each of these
items are connected and how you can progress in the project objectives. So we start with the initiation at this point is where you explain what the purpose of the project is is it's called business case.
This is when you get a sign or the project gets chart.
The next stage is plan. Planning is as the name implies, is outlining all the different stages of expected outcomes in all other aspects off the project, including budget
Um, time resource is
the execution is the actual
stage where everything happens in where all your plans take place Now the execution stage. It doesn't have been sounding to progress into the monitoring stage. Execution of monitoring are always having hand. And depending on the results of the monitoring safe, he could go back to plan.
Maybe the intended resold, unintended task,
the not yield i every soul that is favorable. So you need to go back to the drawing board and re plan. So between planning on murdering those there could be, ah, cycle onto things are executed problem.
Now, the modern stage is basically to evaluate the progress and performance, measuring and report measurements to satisfaction off the
people involved and interested in the results off the project.
Finally, we have the closing stage. The closing stage is where we confirm that all our objectives have been met in where we also turn over the results off our project and the people involved at least sponsoring and interesting. The results will be interesting. Seeing
to wrap a boar first. Listen,
what have we learned to be? Well, first, what projects, programs and portfolios are and how they are connected.
The different challenges, namely three challenges that projects in project managers pace
the relationship between projects and operations. And finally, how this justify in how you can start your project life cycle
for now, that's all. Thank you so much, and I'll see you in our next.