Successful Project Management

How To Do a Project

Term Paper, 2011

23 Pages, Grade: 1,3


Table of Content

1. Project Management
1.1. What is Project Management?
1.2. What is a Project?
1.2.1. Defined beginning and end
1.2.2. Specific time, cost, responsibilities and goals

2. Initiating
2.1. Defining the Project Scope
2.2. Establishing Project Priorities
2.3. Destination of the Project
2.4. Kick-off Meeting

3. Planning
3.1. Structure a Project
3.2. Time Planning
3.2.1. Bar Chart Planning
3.2.2. Network Planning
3.3. Resource and Capacity Planning
3.3.1. Benefits of the Capacity Planning
3.4. Cost Planning
3.4.1. Benefits of Cost Planning
3.4.2. Approach for the production of the cost plan
3.5. Risk Management Planning and Optimization
3.5.1. Portfolio and SWOT Analysis

4. Executing
4.1. What is executing?
4.2. The start of the project
4.3. Project Management
4.4. The project documentation

5. Controlling
5.1. What is controlling?
5.2. Time Control
5.3. Cost Control
5.4. Quality Control

6. Closing
6.1. The Product Analysis
6.2. Project Evaluation
6.3. Closure of the Project

7. List of References

8. List of Figures

1. Project Management

1.1. What is Project Management?

Project Management has different phases in order to supervise, plan and navigate the project throughout the whole project life cycle. The goal of project management is the successful closing by supervising, planning and navigating the project despite all risks (Probst & Haunerdinger, 2001).

The following five steps will be explained throughout this project management manual:

- Initiating
- Planning
- Executing
- Controlling
- Closing

1.2. What is a Project?

A project is characterized by a unique definition. The experiences of a project can be assigned to other projects but the project is unique. Typically it is something that has never been done before (Probst & Haunerdinger, 2001).

1.2.1. Defined beginning and end

Other characteristics result from the uniqueness of the project as the project period. A project has a defined beginning and a defined ending where the result of the project is accepted by the client (Probst & Haunerdinger, 2001).

1.2.2. Specific time, cost, responsibilities and goals

A project has defined responsibilities and goals. A certain time and budget are provided to achieve the project goals. It is evaluated in order to what was accomplished, which means, cost and time frame are analyzed. Time, costs and performance underline one of the most important functions of project management which is balancing the adjustment between time, cost and performance while fulfilling the customer’s needs (Gray & Larson, 2000).

All in all a project is organized work with defined goals and objectives within a certain time and budget. The project success can be measured at the end of the defined period by evaluating how closely it met the goal within the defined time.

2. Initiating

To collect all necessary information in order to satisfy the stakeholders’ needs a structured method is required (Gray & Larson, 2000).

2.1. Defining the Project Scope

The project scope contains the overall goals of the project where all deliveries are defined under the guidance of the project manager and the customer. The scope will be used for planning and measuring reasons by the project owner and participants. To be sure of the completeness of the project scope there are five elements that have to be clear.

First of all, the project objectives need to be defined to meet the customer’s needs. Therefore definition, time and cost frame are named in this step. The second element are the deliverables, goals of time, quantity and costs are clarified.

In order to set milestones, certain control points at a certain time need to be set up.

The fourth and fifth elements of the project scope are the technical requirements, limits and exclusions which need to be discussed by the project manager and the customer.

Last but not least a review with the customer is arranged to be sure of the understanding and agreement of expectations (Gray & Larson, 2000).

2.2. Establishing Project Priorities

In order to complete a project successfully the customer must be satisfied. Therefore cost, time and performance of the project must interact perfectly. Performance

illustration not visible in this excerpt

Figure 1: Project Managements Trade-Offs (Gray & Larson, 2000)

That is why the project manager must manage the balance between the three elements.

To keep the balance between the tradeoffs the project manager has to define the priorities of the different elements for the project.

Because of that one can use a matrix which identifies which criteria is constrained, which one should be enhanced and which one can be accepted. It provides a clear definition of priorities so that misunderstanding can be avoided (Gray & Larson, 2000).

The matrix can look different in order to the different priorities, the customer sets.

illustration not visible in this excerpt

Figure 2: Project Priority Mix (Gray & Larson, 2000)

2.3. Destination of the Project

The destination of a project is the definition of the overall goals of the project. Without a destination a project cannot begin and cannot be evaluated afterwards. Expectations need to be defined at the beginning of the project. Due to that a project goal should be accomplishable and needs a clear vision. It must be measurable in matters of quality and quantity. The companies’ destination must be identifiable with the project destination so that no misunderstandings arise.

In order to define the goals of a project first of all aims need to be collected by a brainstorming or other methods without any validation. Afterwards the goals are structured and specified. Conflicts are analyzed to avoid misunderstandings followed by an evaluation by the priority of the aims. At the end a definition is adjusted and written down (Probst & Haunerdinger, 2001).

2.4. Kick-off Meeting

The kick-off meeting varies from organization to organization. Sometimes it takes place after the preparation of the project which means at the end of the initiating phase or after the planning phase to kick off the project.

Projects often fail because of their unclear requirements and expectations which is why the kick-off meeting happens at the very beginning of every project. It is a meeting of all the project members and stakeholders where the project goals and future plans are reviewed and discussed. Furthermore, roles and responsibilities are determined (Schwalbe, 2008).

The kick-off meeting contains:

- The meeting objectives
- The agenda (topics that will be discussed)
- A section for documenting action items goals, responsibilities
- A section with date and time for the next meeting

3. Planning

Appointment and cost adherence and attainment discharges mainly depend on the quality, accuracy and integrity of planning, as well as the level of troubleshooting costs.

Planning is not a statistical, but a dynamic process (Boy et al., 1997), but can rather only be precise enough for the first development steps, especially concerning long- term and large projects. The planning for later parts is going to follow afterwards. One of the most important things is to include a sufficient planning effort (Burghardt, 2000).

Planning is all about digesting future acts, finding and walk the way between starting point and target and reaching the claimed goal by using available recourses (Boy et al., 1997).

Besides the positioning of guidelines, procedures and programs to reach the corporate targets, a project manager and a project team (maybe also an external or internal expert or a purchaser) are essential to be involved in the planning process (Drees et al. 2010).

The order of different parts of the planning process of course varies from case to case, but a general structure would be (Burghardt, 2000):

1. Project Structure
2. Time Planning
3. Resource and Capacity Planning
4. Cost Planning
5. Risk Management Planning / Optimization

In the following chapters those five parts are being specified.

3.1. Structure a Project

A requirement for a goal orientated planning is to disassemble the work into handy portions (Burghardt 2000). To do this a concept of completeness is inevitable. There are two different ways to create a so-called Work Breakdown Structure (Drees et al., 2010):

- Top-Down, this is useful for projects, where experience about the approach already exists and the levels can be defined and disassembled from top to bottom.
- Bottom-up, this method is used for projects with less experience. All kinds of ideas are being collected by brainstorming or other techniques and are then clustered.


Excerpt out of 23 pages


Successful Project Management
How To Do a Project
Stralsund University of Applied Sciences
Catalog Number
ISBN (eBook)
ISBN (Book)
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1970 KB
successful, project, management
Quote paper
Laura Klöpping (Author)C. Fechner (Author)L. Hesse (Author)P. Kuckelkorn (Author)J. Radloff (Author), 2011, Successful Project Management, Munich, GRIN Verlag,


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