Project Management & Economics: Session 1 DR Assem Al-Hajj

PROJECT MANAGEMENT & ECONOMICS
SESSION 1 DR ASSEM AL-HAJJ

Univation Ltd, RGU, Aberdeen, UK
SITP, NIGERIA
PROJECT MANAGEMENT & ECONOMICS

SESSIONS 2 - 3 INTRODUCTION TO PROJECT MANAGEMENT
INTRODUCTION TO MODULE
Is Project Management and Economics important? Two phases:
Project Management- THE PROCESS
Project Management- THE PEOPLE
DR ASSEM AL-HAJJ, Univation, RGU Project Management and Economics. SITP-SPDC, NIGERIA
LEARNING OUTCOMES
Evaluate project management processes and identify its historic development Explain the interaction between time, cost and quality Apply IT led techniques for resource planning, control and monitoring of a project Recognise the project managers activities, skills and responsibilities. Recognise the importance of team working and other critical success factors
1 PROJECT
MANAGEMENT & ECONOMICS
EXAMPLES OF PROJECTS
Major construction projects:
Sidney Opera House The British Library The Channel Tunnel
Testing and installing a piece of equipment Developing a new training programme Establishing a new youth centre The Olympic games Manufacture a new product Concord Installing a new computer system Research & development programme
SHELL INTENSIVE TRAINING PROGRAMMEDR ASSEM AL-HAJJ, Univation, RGU Project Management and Economics. SITP-SPDC, NIGERIA
SITP
SO! WHAT IS A PROJECT?

A structured process to achieve specific objectives within cost, quality and time constraints
A unique set of co-ordinated and interrelated events, to achieve something new A specific, finite task to be accomplished whether large- or small-scale or whether long- or short-run (Meredith & Mantel, 1995)
DEFINITION OF A PROJECT
Any series of activities and tasks that:
have a specific objective to be completed within certain specifications have defined start and end dates have funding limits (if applicable) consume resources (i.e. money, people, equipment)
(Harold Kerzner, 1998)
PROJECT CHARACTERISTICS
Has a specific purpose Has a beginning and an end A temporary team Uniqueness Interdependencies: cross departmental teams About making change
WHAT DOES A PROJECT INVOLVE?

DESIGN OBJECTIVES PLANNING FEASIBILITY STUDY DURATION PEOPLE FINANCE MANAGEMENT LUCK RISK OBSTACLES CONTINGENCIES SPECS. OBJECTIVES INFLATION DEFLATION VACATIONS BUDGET TECHNOLOGY SABOTAGE INTEGRATION VARIANCES COMMUNICATION ACCOUNTING TRANSPORTATION LOGISTICS TEAM WORK DELEGATION COORDINATION EMERGENCIES PUBLIC RELATIONS SAFETY HRM REVIEW FRAUD SPYING REGULATIONS CONSULTANCY POLITICS MARKET ECONOMY
WHAT DOES A PROJECT INVOLVE?

MONEY PEOPLE DESIGN TIME MATERIALS ORGANISATION TRAINING MONITORING EXECUTION EVALUATION SUPERVISION CREATIVITY CONTINGENCY MODELING TEAMWORK LEADERSHIP COMMUNICATION GOALS EQUIPMENT COMPETENCE STANDARDS INTEREST MOTIVE PLANNING
PROJECT
MANAGEMENT
& ECONOMICS
2. MANAGEMENT
Classical management is considered to have five functions or principles
1 Planning
2 Organising
3 Staffing
4 Controlling
5 Directing
PLANNING
A course of action that should: cover the whole project lifecycle have milestones and constraints involve participation of all parties have a clear operational plan
ORGANISING
It is the arrangement of resources: Resources organised around work Breakdown of work into manageable units Tasks, subtasks, & packages
STAFFING
Selection of individuals
Very important consideration Requires proper management
CONTROLLING
Measuring, reporting, & forecasting system Prediction of early deviation
Requires continual reporting Most difficult part of PM
DIRECTING
Guidance of the work required Development of an effective team Co-ordination of individual contribution Common effort & direction
DEFINITION OF PROJECT MANAGEMENT

The overall planning, organising, directing, & controlling of resources from inception to completion aimed at meeting Clients requirements in order to produce a functionally viable project that will be completed on time within authorised cost & the required quality standards.
The process by which a project is completed satisfactorily

(Project Mngt Guidelines, Shell)
PERFORMANCE/QUALITY
RESOURCES
PERFORMANCE/QUALITY
The Triangle of Project Objectives
Overview of Project Management
SUCCESSFUL PROJECT MANAGEMENT

Achieving project objective: Within time Within cost At the desired performance/technology level Effective and efficient use of resources Acceptance by customer/client
POTENTIAL BENEFITS OF PROJECT MANAGEMENT

1 Identification of functional responsibilities 2 3 Identification Identification of resources of time limits 4 Measurement of progress
5 Early identification of problems
6 7 Knowing Improving when objectives estimating for cannot be met future planning
OBSTACLES
Special requirements
Project complexity Risks
Organisational restructuring
Changes in technologies
Forward planning & pricing.

PROJECT MANAGEMENT &
ECONOMICS
3. ENGINEERING ECONOMICS
Concerned with assessing the real cost of using resources in order to establish priorities between competing proposals.
Provides the engineer with a means of judging the relative economic merits of alternative schemes and ensuring that available resources shall be used to achieve the desired end with minimum expenditure.

Project Management & Economics: Session 1 DR Assem Al-Hajj

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Project Management & Economics: Session 1 DR Assem Al-Hajj

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Direitos autorais:

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PROJECT MANAGEMENT & ECONOMICS

SESSION 1 DR ASSEM AL-HAJJ

PROJECT MANAGEMENT & ECONOMICS

Project Management- THE PEOPLE

MANAGEMENT & ECONOMICS

SO! WHAT IS A PROJECT?

WHAT DOES A PROJECT INVOLVE?

WHAT DOES A PROJECT INVOLVE?

DEFINITION OF PROJECT MANAGEMENT

The process by which a project is completed satisfactorily

The Triangle of Project Objectives

Overview of Project Management

SUCCESSFUL PROJECT MANAGEMENT

POTENTIAL BENEFITS OF PROJECT MANAGEMENT

5 Early identification of problems

Forward planning & pricing.

PROJECT MANAGEMENT &

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