Module 1 - What are projects?

This is the study summary for module 1. I'm going to start by listing the objectives given at the beginning of the module and trying to provide answers. This may prove to be enough for a summary, it may turn out that a lot more detail is required, or it may be that this is a bad approach. Only one way to find out!

This module's objectives

By the end of this module you should be able to:

• define a project;
• describe the difference between project management and general management;
• list the stages of the project life cycle;
• examine the importance of why we're doing projects;
• clearly identify the objectives of the project;
• analyse what a project business case (or project feasibility study) is.

Define a project

A project is a temporary endeavour undertaken to create a unique product, service, or result.

A project:

• has a specific objective;
• has a defined start and end point;
• has finite resources allocated;
• is unique.

Describe the difference between project management and general management

General Management	Project Management
Infinite, permanent	Finite, temporary
Efficiency orientated	Goal orientated
Rarely crosses organisational boundaries	Crosses boundaries
Enhancement	Fresh start
Manage by exception*	Everything is the exception
Maintains status quo (usually)	Drives change (often)

*Management by exception is a style of business management that focuses on identifying and handling cases that deviate from the norm, recommended as best practice by the project management method PRINCE2. - Wikipedia, “Management by Exception”

List the stages of the project life cycle

• Initiate
• Plan
• Deliver
• Close

These stages are given different names in different frameworks and my be broken up differently (more or fewer stages) but are always essentially the same.

PMBOK - more about the process of project management

PRINCE2 - more about the project outcome and achieving objectives

Agile - better for projects with high degree of uncertainty (change and risk) and works in short cycles.

Examine the importance of why we're doing projects

This object is worded ambiguously. Does it refer to the importance of particular projects? i.e. does it refer to the importance of why businesses conduct projects in general, or how to examine the need for, scope and objectives of a particular project? I’ll try to provide an answer for both.

Business regularly engage in projects (though at decreasing rate in recent years) because they enable the achievement of unique objectives (product, service, or result).

* This answer could/should be extended.

It is important to formally identify the need or driver for a project. These are usually associated with:

• Market demand
• Organisational need
• Customer requests
• Technological advances
• Legal requirements
• Ecological impacts
• Social needs

It is also important to interrogate the client to separate needs from wants; the client will usually communicate their wants. A thorough analysis should be conducted to determine needs and these communicated back to the client and other stakeholders to ensure strategic alignment.

Clearly identify the objectives of the project

The project begins with the project proposal, in which the objectives of the project are defined. This may be a formal or informal document. It should provide an early scope definition, outlining what is in the scope and what is not.

* This answer could be extended

Analyse what a project business case (or project feasibility study) is

The business case, or feasibility study, is a formal document that analyses the viability (particularly economic) of the project proposal. A sample business case (from assignment 2) is structured as:

1. Executive Summary

• Short, with minimal technical language

2. Project Need

• Service delivery requirements - problem/need/opportunity - business fit
• Alignment with program plan - strategic fit
• Particular project objectives
• Critical success factors
• Resultant organisational change

3. Options Analysis

• Options considered
• Options evaluation criteria
• Options development - detailed economic and financial analysis + preliminary risk assessment
• Options evaluation - tabulate results
• Recommended option

4. Project Definition

• Scope description - define scope of recommended option
• List constraints and dependencies of recommended option
• Define scope management process
• List project deliverables
• List project KPI’s

5. Project Approach

• Project management strategy
• Procurement strategy
• Communications and stakeholder management strategy

6. Budget, Program and Risk

• Timing/project readiness - indicate key milestones and timeline
• Budget/cost analysis and funding strategy
• Risk analysis and management strategy
• Project quality management strategy
• Project completion strategy - process for project completion including commissioning and acceptance
• Benefits realisation plan - how to measure and evaluate benefits

7. Appendices and Supporting Documentation

• Possibly includes:

1. Project schedule
2. Project cost plan
3. Risk register
4. Benefits realistion plan
5. Financial analysis
6. Preliminary environmental assessment
7. Stakeholder assessment matrix