What is project management?

Business Objectives

Manley’s is a family-owned house remodeling company. It has four stores around London and offers a variety of furniture, kitchens and bathroom designs. The company’s unique selling point is that it employs designers to provide professional installation and technology. With affordable prices and high levels of service and technology, Manley’s has grown rapidly. However, there are goals to be achieved to achieve greater growth. It is necessary to provide better services to customers by improving web pages, and it needs to have a management information system to enable more practical company operation. In other words, Manley’s should establish projects such as website improvement and introduction of management information systems and complete them economically and efficiently for the business goal of sustainable growth.

Determine Projects Required from An Appraisal of Business Objectives

What is Management Information System?

The management information system (MIS) refers to a system that oversees multiple information related to the company’s management. In other words, MIS is a system that enables efficient management of various types of subsystems of companies necessary to achieve business goals. By accumulating company data and providing information, it helps company members who need specific information and data to access efficiently and effectively.

The purposes of introducing a management information system

• The efficiency of operation: The management information system improves efficiency in the operation of the company, thereby increasing the productivity of the company.
• Bonds between customers and companies: It makes it easier to access customers’ needs and helps to analyze their potential needs.
• Decision-making: It helps the company make quick and reliable decisions based on the information they need when making business-related decisions.
• Promoting cooperation between different departments: The management information system makes it easier to cooperate with other company departments. It is because it is efficient in performing tasks by allowing each other to share necessary information quickly and effectively.
• Survival of a company: The era we live in is also called the information age. It is because the information is an important source of business. As a result, the management information system has become an essential element of the current company.

Project Sub-Divisions and estimations

There are diverse projects that have to be carried out to achieve business objectives. Whether the project is large or small, project managers need to prepare for smooth and active implementation of the project by creating a Gantt chart. The Gantt chart is a bar chart made by putting a bar graph in time to express a work plan and work schedule when planning a project. Based on this chart, the content and duration of the work are designated so that the project can be efficiently carried out.

This is the Gantt chart for Manley’s MIS project.

The chart above is a plan for Manley’s project. The project plan can be classified into five main phases. In this way, the concept classified into stages is called the project management life cycle. The project life cycle describes the phases required for the project manager to perform the project successfully. The five steps are initiating, planning, execution, monitoring, and closing.

• Initiation stage

At the beginning stage, project managers must identify business objectives, recognizing and analyzing projects to be carried out to achieve business objectives. In other words, an important point of this step is to determine a clear vision of the project and prepare the resources necessary for the project. Once the project vision is established and essential resources are secured in the initiation stage, the project manager can proceed to the planning stage after being approved for the project.

• Planning stage

At this stage, the project manager sets up a project management plan, classifies tasks, organizes a project team, allocates tasks, and plans a completion schedule. In other words, the manager divides the project into small objectives and then assigns each task to the team members to prepare for completion within the target period.

• Execution stage

If the manager obtained approval for the project progress, made a project segmentation plan, and formed a project team, he would be ready to move on to the implementation stage. At this stage, the planned things are put into action. The main role of managers at this stage is to manage so that tasks can be performed according to plans.

• Monitoring and control stage

It is a stage of monitoring the processes of the project and taking corrective action if action is necessary. Even if the plan is fully established, variables may occur during the project, so the manager should ensure that the plan is not disrupted through this stage. This stage must be done in conjunction with the execution stage.

• Closing stage

It is the last step in the project life cycle and evaluates the project results and the work performance of the project team. The outcome of the project is provided to determine whether it will be successful.

Project Management Methodology

For a project to proceed more effectively and efficiently, a project manager must select and perform the appropriate project management methodology.

What is the Project Management Methodology?

Various approaches are needed to carry out the project and achieve good results successfully, and this approach is an area that must continue to develop. For this reason, project managers must be aware of various project management methodologies and approach them in a way that suits the project. The project methodology is the principle or method necessary to organize a project effectively. In other words, this is a device that helps manage projects as efficiently as possible. Since operating a project is an essential element in the project’s progress, the manager must select a methodology suitable for the type of project team and the goal of the project. There are various methods of project management. Compared to the past, the types of projects, industrial styles, and production methods have diversified, so the appropriate project management methods have also diversified.

The following are representative examples of various project management methodologies.

• Waterfall Methodology: This method is one of the most used frameworks. In addition, this method is a traditional project management method. In this way, the project progresses sequentially. In other words, when the task of each step is completely completed, the next step can be started. It is a way to proceed in one direction like a waterfall. Because of these characteristics, it is suitable for proceeding with a very closely planned project. In addition, this method is useful for large-scale projects involving stakeholders.
• Agile Methodology: This method emerged due to the limitations of the approach of existing project management methods. It is a very different approach from the waterfall method. This method is suitable for carrying out projects that require flexibility and speed. In addition, it is also suitable for projects that require frequent real-time communication. For this reason, it is good for use in software-related projects where modifications are likely to occur frequently in the course of the project.
• Scrum Methodology: This is also called a part of the agile method. Thus, it can be said to be a framework rather than a methodology. This method is carried out by dividing the project cycle short. A separate short process is called sprints, and project members perform tasks suitable for each sprint. Usually, small teams use this method, and after performing certain tasks, they can report the progress or results to the Scrum Master (Project Manager) and then start or reset other tasks. Because of this characteristic, the scrum method is often used together in projects using the agile methodology.

In the case of Manley’s, it is recommended to build a management information system using both the agile method and the scrum method. Because Manley’s aims to improve customer service and expand the market by enhancing the company’s website, the agile way suitable for software projects is effective. In addition, with three months given, it will be effective to divide the project into several sub-works using a scrum method (sprint), assign the work to the appropriate project team, communicate in real-time, and complete it within the period.

Project Feasibility

What is the Project Feasibility (Feasibility study)?

Project feasibility is to analyze the project’s vision in advance before starting the project. Considering the costs and workforce to be incurred during the project, the estimated profits obtained after the project is completed are investigated in advance to examine whether this project is worth starting. However, the factors, which should examine before the start of the project, are not only the financial part. Other factors should also be included. Typical elements to review include financial feasibility, technical feasibility, operational feasibility, and market feasibility.

• Technical Feasibility: A technical feasibility study refers to examining the technology required for the project and the technological resources available. In other words, it is an investigation to check whether equipment and technicians necessary to complete the project are available. If this part is overlooked, it may be stopped due to technical problems during the project. For this reason, the technical feasibility study is one of the fundamental factors to be considered.
• Financial Feasibility: A financial feasibility study refers to investigating whether your company has any financial problems in working on this project. In addition, it includes predicting the project’s expected rate of return to determine whether the project has financial risks. In other words, the final objective of the financial feasibility study is to determine if this project is beneficial in terms of economy.
• Market feasibility: A market feasibility study refers to predicting how a product or service resulting from the project will affect the market. This survey includes market analysis, market competition, sales forecasting, and growth prospects.
• Operational Feasibility: This feasibility study reviews whether a company can complete a project. In other words, since it investigates whether various operational aspects of the company and projects to be carried out are harmonized, the feasibility study can be said to be the fundamental part of the project design stage. Factors to review include hiring employees, legal requirements, and organizational structure.

In addition to those described above, there are various project feasibility studies. For example, a time feasibility study predicts the period required to complete a project. Estimating whether it can be completed within the specified period is one of the important investigations, as the project will fail if more time is expected than the specified period.

Project Management Structure

The organizational structure of project management is very important in the overall project progress. If the team is formed with an inappropriate system and the project is carried out, the result will be a failure. Therefore, organizing a project management structure is so important that it directly affects the project’s outcome. Project management structures include functional structures, matrix structures, and projectized structures.

• Functional Organizational Structure:  The functional organizational structure refers to carrying out a project by maintaining a traditional corporate structure centered on each department within the company. The characteristic of this structure is the organizational structure centered on managers of each functional department. In other words, functional managers play a role in facilitating and coordinating projects. On the other hand, the roles of the project manager in this structure are weak or non-existent. Moreover, it is the most common organizational structure and stable. Management is also easy because managers in each functional department manage each department. Another advantage is that each department performs its project work, so the expertise in performing the work is high, and the scope of the work is clear. In summary, it can be said that this is a traditional structural method in which departments perform their tasks based on the type of work within the organization.
• Projectized Organizational Structure: This structure is contrary to functional organizational structure. In other words, it is a form of organization by project characteristics and field. In the projectized organizational structure, project managers have great authority and responsibility. The advantage of this organizational structure is that the responsibility and administration of the project are clear, enabling rapid decision-making and execution. In addition, communication is smooth because the organizational structure is relatively simple and has a single reporting system. On the other hand, there are disadvantages that the project team must be newly formed for the project, and after the project is completed, the team is disbanded, which can create anxiety about employees’ sense of belonging.
• Matrix Organizational Structure: This organizational structure is a mixture of functional organizational structure and projected organizational structure. Matrix organizational structures can be classified into three categories: weak, strong, and balanced matrix organizational structures. This organizational structure is effective in carrying out complex and dynamic projects. This organizational structure requires both the functional manager and the project manager to instruct the project team members, so managers must be careful about their work assignments and team management. After the project is completed, the team members return to their original department. In the weak matrix organizational structure, functional managers have greater authority and responsibility than project managers, while in the strong matrix organizational structure, project managers play a greater role. In the case of the balanced matrix structure, two managers have equal authority. However, the parts of the two managers are different. The project manager performs tasks related to the project schedule and budget, and the functional manager is responsible for resource distribution and equipment performance inspection.

The Roles of Project Manager and Project Team Members

For a company to grow, it depends on how effectively and productively they achieve their business objectives. The company must plan and complete projects to achieve its business objectives. For this reason, it can be said that the department that manages and is responsible for the company’s project is a very important part of the company.

Project Manager

The person responsible for the outcome of the project is the project manager. The manager’s role is to ensure that the project is completed within a fixed budget and time. In addition, project managers must establish project plans and supplement the workforce required for the project. The project manager must determine the methodology to carry out the project, the project schedule and task division step by step. Then the project manager must assign tasks to each project team member and manage the project team overall during the project period. Finally, the project manager must report the progress or results of the project to the top managers of the company on behalf of the team.

Project team member

The role of project team members varies based on project nature, and the project team may consist of in-house or external company employees. In other words, project team members depend on the project methodology and organizational structure. However, there is a universal role of project team members, such as performing tasks that contribute to project goals, providing expertise in their jobs, and documenting all processes.

Project Plan

A project Plan is a collection of work elements to be achieved to manage project-related tasks and schedules and achieve project goals systematically. When establishing a project plan, the project manager must include the contents of the project schedule, the scope of the task, and the results. The project plan is an important step for project completion. It is because if you do not establish a project plan, you will have difficulty managing the project. It affects external as well as internal factors necessary for the project. For example, establishing a project plan allows all company stakeholders to recognize the purpose of the project and their responsibilities related to the project. In addition, in establishing a project plan, the project manager can predict in advance variables that may occur during the project. In other words, the project can be completed only when the project plan is effectively established. There are seven steps to develop a project plan effectively.

1. Understanding Project Goals: The first thing to understand when establishing a project plan is the goal. It is the same for all companies to make plans for their goals. In summary, the project plan provides directions for the project team to perform.
2. Establishing Success Indicators: After understanding the project’s goals, success indicators must be set. Success indicators are needed to determine whether the project is going as planned.
3. Meeting with stakeholders: When carrying out a project, collaborators need to participate in the project. The project plan should be explained to stakeholders to be aware of the goals and the responsibilities of each stakeholder.
4. Budgeting: The project manager must set the budget required when executing the project. If the manager has set project goals and success indicators, explained the project to stakeholders and informed responsibilities, the budget should be set based on these factors. If you plan your budget in project planning, you can make effective decisions at the project execution stage. In other words, if the budget is set in advance, the company’s assets can be appropriately allocated when carrying out the project.
5. Setting project milestones: It is the most important part of project progress. Project milestones are specific implementations that must be performed during the project process. Milestone coordination helps the project team’s work direction and progress as planned. Setting milestones and effectively completing them can be a shortcut to successfully reaching project goals. Thus, when establishing a project plan, it is a very important planning process to set up milestones so that the teams involved in the project can identify and perform milestones.
6. Setting the schedule: The project manager must plan the schedule based on the contents derived through the above steps. When carrying out a project, there is bound to be a difference from the planned schedule, but by designing the schedule, it is possible to prioritize the work clearly. The project manager should determine the start date and deadline for the sub-works related to the project and manage it to proceed according to the planned schedule.
7. Communication System: Since the project involves internal and external stakeholders, various communication methods can lead to errors. Thus, the project manager must prepare and share a communication system that can grasp the project’s progress by everyone involved.

Once a project plan is established through these steps, it must be easy for everyone involved to access it so that the project can run effectively and efficiently.

Suitable Project Team Structure

The project team structure is one of the important essential elements leading to project success. To form a suitable project team, it is necessary to consider several factors rather than just consisting of professional engineers. The project team structure plays a role in managing a specific project and is organized by the company’s steering committee.

Major positions in the project team include project managers, project leaders, project management office that present practical matters to improve and develop project management, functional managers who manage the tasks of departments divided by function, technical managers who oversee the technical sector of the project. In some cases, project sponsors who support resources for the project and take action on the needs of the project team. A team of these members is created for a particular project, combines their various skills and ideas, and assigns roles and responsibilities to produce the best project outcomes. Project objectives must be determined first in forming project team members. It is because only then can the company determine what types of technicians and members need and deadlines. The company’s steering committee and human resources department are in charge of selecting team members. The criteria necessary for selecting members should consider the skills and experiences of members, the skills necessary for project execution, and the production capabilities of team members. In addition, it is also essential to select a project leader who can lead and organize the team tightly. To successfully achieve the project, it should be chosen based on the qualities that can effectively lead the team. In some cases, project managers dedicated to project planning and management even serve as project leaders. Still, in some cases, project managers and leaders exist simultaneously depending on the selected project organizational structure or goals. In other words, when the project is large, and several project teams are in charge of the project, each team selects a leader and project leaders to report the work situation to the project manager.

Of course, the team structure will vary slightly depending on the project organization structure, but this is a general project team structure.

Project Quality Management

What is project quality management?

Project quality management is constantly testing and filling in deficiencies until quality is achieved within the range desired by the company. The project quality management process reflects procedures to satisfy customers’ quality requirements. Through this process, companies aim to succeed in long-term business through customer satisfaction. Quality management processes include quality planning, quality assurance, and quality control.

Quality Planning

Quality planning is planning how to apply it in a project by setting standards to compare quality requirements suitable for the project and measuring quality. One of the important factors in quality planning is establishing quality measurement standards. It is because measurement criteria are needed to improve quality. In other words, project managers should set quality measurement standards and apply changes to enhance the quality until they reach the quality goal.

Quality Assurance

Quality assurance is verifying whether quality requirements and quality standards are being used. In addition, this process is also a form of showing stakeholders that established quality-related activities are being carried out as planned. The quality assurance process does not only guarantee products or services resulting from the project but also includes all the methods used to manage the project. The methods used in this process include such as a project checklist and a project audit system.

Quality Control

Quality control is the process of checking whether quality standards are reached through monitoring products or services resulting from a project and finding and solving the cause if they are inappropriate. In other words, it is finding and supplementing what is lacking to achieve perfect quality. In addition, the quality control process helps the project proceed as planned. Through this process, if the project results do not meet the standard, only certain parts that cause problems can be found and improved.

Through these three processes, companies can effectively improve the quality of project results to meet customer satisfaction.

The Project Change Request

The change request is a proposal to change part of the project. When implementing a project, it is difficult to proceed as planned from beginning to end. The important role of project managers is to effectively cope with variables that occur in the middle of the project. In the process, if the process of requesting and implementing change is not neat, it can also lead to confusion. For this reason, to make a clear change request, the project manager must fill out a change request form based on the appropriate procedure. If the change is made without a proper change request process, there can be great difficulties in progressing the project.

The Project Change Request Process

1. Firstly, it is necessary to identify the part to be requested for change. It is essential to understand everything in consideration of why that part ought to be changed, how it needs to be changed, and what it needs to be changed.
2. The impact of project changes should be identified. All parts of the project that will be changed due to the change request should be considered while grasping the scope of the entire project for the change request. For example, whether the change causes a change in the project’s budget or a change in the composed project team.
3. If the change request is configured considering the above steps, approval is required before implementing it. If it is a small range of changes, it can proceed only with the approval of the project manager, but if it is a large range, it must be approved by a higher manager.
4. Finally, if the change request has been approved, it should be communicated and implemented to the teams and all stakeholders involved in the project. When performing a project, all project team members must recognize and perform the requested changes.

Project Monitoring and Evaluation

What is Project Monitoring?

Project monitoring is one of the important steps in the project execution stage. In general, it is carried out as in the execution stage of all projects, managing the changes required for the project to complete perfectly and monitoring whether the project is going as planned. In addition, monitoring can guide the project by comparing the details of the project related to the project goal with the actual implementation stage.

What is Project Evaluation?

Project evaluation is the stage of making decisions based on the information collected through the monitoring stage. If it is confirmed that the project does not flow as planned through the monitoring stage, the cause is evaluated to find a fundamental problem and find a solution. The project evaluation process is carried out in all project processes. Even after the project is over, the evaluation process can be carried out. In summary, after discovering a problem through project monitoring, the process of finding a solution to the problem is project evaluation.

The Process of Project Monitoring and Evaluation

1. First of all, the process for monitoring and evaluating the project must be configured. After properly configuring processes tailored to project characteristics, a system that can store data should be established. The next is to choose a person in charge. It is necessary to select a person or team responsible for project monitoring and evaluation and to allow the project to proceed as planned through monitoring and evaluation. Based on the system configured for monitoring and evaluation, the selected person or team in charge must record the problems, problem-solving methods, and results encountered during the project. Then, to improve the efficiency of work, an evaluation plan must be prepared regularly. You can write improvements by receiving feedback from each project team.
2. The second step is real-time monitoring. While carrying out the project, it should be monitored at the same time to find problems and allocate necessary resources.
3. After monitoring, the project report should be evaluated. Project Report Assessment provides an accurate view of what the project team has achieved, and where it occurred if there had been a problem in the project process. Efforts should be made to improve the workflow based on the solutions of the identified causes.
4. Finally, project monitoring and evaluation play a good role not only in improving the project process but also in drawing out the continuous efforts of project members to find and solve problems. If there is any change through this process, you should not be easily reassured even when the project is completed. It can affect other project stages, so continuous monitoring and evaluation are required.

Project Controls

Project control refers to finding variables or problems by comparing the execution process of a project with a project plan and finding solutions to avoid delays in the project. The main controlling elements are project performance, project cost, and time. The project control system is needed to ensure that the actual implementation process of these factors proceeds smoothly according to the established plan. The project control system plays a role in finding and taking action to solve variables or problems that hinder the smooth progress of the project. Project control is a system that prevents problems before they occur rather than simply solving them after they arise.

1. Cybernetic Control: Cybernetic control is one of the most representative control mechanisms. It automatically monitors the situation during the project process and proceeds with the appropriate changes necessary for it. This control method mainly leads to automatic control over project outputs. This control method aims to reduce the deviation between the project plan and the actual progress.
2. Go, No-Go Control: This control method is used to check whether certain prerequisites are met in a project progress. In identifying specific prerequisites, if there is a risk factor that will affect the progress of the project, it takes the form of No-Go control, and if there is no risk factor, it takes the form of Go control.
3. Post Control: This control method is carried out after the project is completed. This method focuses on identifying errors, variables, and problems that appear during the project process rather than modifying the project results. It is perfecting the project process by improving the identified elements. If the fundamental problem is not solved, it is likely to be repeated, even if the result is modified. That is why this method of control is necessary.

Project Risks in the Final Stages of the Project

Projects are not simple tasks so that they can face various risks during the process. Project teams and managers should strive to prevent risks in advance through continuous monitoring when carrying out the project. The section where project risk occurs the most is the beginning phase, but there are several risk factors to be aware of in the final stage of the project.

1. Scope Risk: Failure to identify project objectives can lead to scope risks. It is the risk of confusing the project’s scope and causing confusion in the project. As a result, additional costs, time, etc., for project results may be incurred. For this reason, it is important for the project team and various stakeholders to grasp the objectives of the project accurately and always be aware of the scope of the project.
2. Cost Risk: It refers to the risks arising from exceeding the budget set at the project planning stage. When the cost risk occurs, various problems and variables can spread to other departments, so the necessary factors must be accurately measured when budgeting.
3. Resource Risk: Resource risk can arise if resources such as time, technology, and cost are insufficient to complete the project. As with the budget, it is necessary to effectively plan resource allocation at the project planning stage so that resource risk cannot occur during the project.
4. Time risk: Time risk occurs when the project takes longer than the predicted deadline. If the completion schedule is postponed, it affects project-related factors such as project results, delivery dates, and budgets. To prevent the occurrence of time risk, the project manager must systematize the project schedule using a Gantt chart at the planning stage. When setting a plan, if it is set too tight, there is a high possibility of exposure to time risk, so care should be taken.

In addition, various risks are arising from each project. However, to prevent these risks, it is to make a project plan before implementing it. Project managers are responsible for making efficient and effective project plans so as not to face risks in the project.

Closing the Project

The final step in the project management process, the closing phase, is the step in which the project results are evaluated, and all documents related to the project are approved. This step is not just a stage of evaluating and finishing the results but rather a phase of reviewing the entire project process. Through this process, various problems in the project process should be checked again to establish a solution to prevent such issues from occurring in the future. In addition, at this stage, all stakeholders should be helped to receive information, resources, and education on the outcome. Failure to proceed with this project closing stage can lead to confusion among everyone involved, customer dissatisfaction, and project liability issues. Thus, the project should be officially completed through the project closing stage so that all parties can share the same opinion.

Closing the project procedure

The first step in the closing phase is to transfer the project deliverables. All results should be reviewed and delivered to the customer. Then, it is necessary to make sure that each project-related person has completed each task. If all have been confirmed, the project manager must be approved by the final stakeholder. After approval, all project documents are reviewed, and the amount is paid. The next step officially dismantles project resources such as project-related suppliers, contracts, and team members. Project managers should notify the completion of the project to give them the freedom to participate in other projects. After resource dismantling, a post-control, an important step in the closing process, should be performed. It is necessary to review whether the project has been completed and feedback for future improvements. Once the post-analysis has been completed, all documents related to the project should be completed and kept for future project-related reference. By going through this process, the project is completely terminated. It would be nice to hold a celebration party with the project team and all stakeholders to boost each other’s morale.

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