as project management evolves a new set of issues is demanding attention

8/6/2019 As Project Management Evolves a New Set of Issues is Demanding Attention

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Motivation, Project planning,Risk management,Negotiation,Cost time analysis. These

are the main pillars of the project management.Proper analysin g of tehese issues will

lead to succecc factor for any project.

Organization:

It is a system through which force of man, material, machinery and money arebrought together in an orderly way to turn out the product or finished goods at a

profit. It can also be defined as identifiable group of people contributing their efforts

towards attainment or achievement of common goals.

Following are some of the characteristics of any organization:

1. Self identification or brand establishment through advertisement of p roducts.

2. The members of organization work as team member.

3. Organizations are essentially cooperative enterprises, in the sense that, they

represent coordinate efforts of many individuals.

4. The existence of a group is another main character.

5. The goal and objectives are immediately connected with the organization.

6. The objectives give a sense of unity and direction to the member of organism

Structure of an organization:

Top managementPresident, Managing Director, Project Manager

Top

management

Middle

management

Lower management.

Workers.


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Middle management Departmental manager, Executive Directors, Dy. Managers.

Lower management - - Junior engineer,Draftsman,Supervisor

Workers --- Foremen, Workers, Security personnel,.

Necessity of an organization:

1. When production is carried out an a very large scale, it is not possible for a

single person alone carry out all the functions & operations by himself. He has

to delegate some of his functions to others. Naturally he has to supervise &

coordinate the work.

2. As the production process, become more & more complex. It is necessary for

the management to employ experts & specialist in different fields.

3. Because of large scale production & competition in the market, organization

has to look in the existence of the organization

4. To maintain discipline in all the members of organization and to improve

quality of the product to gain more and more business

5. To reduce wastage of manpower,materials,machinery,money and time

Essentials of an organization

They are based on following principles:

1. Division of work

The main department in any large organization can be divided into following

groups or departments

a. Secretarial/administrative department

i. Time office

ii. Labour office

iii. Account department.

b. Service department

i.Design, drawing, estimate of drawing.

ii.Other services.

iii.Inspection & quality control.

c. Manufacturing/production/executing department

i.Executing/ production/ Manufacturing

ii.Planning

iii.Progress.

d. Commercial department


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i.Purchase

ii.Sales/marketing

iii.After sales services.

e. Personal department/Human resources development

i.Recruitment, promotion, retirement or retrenchmentii.Training

iii.Labour relations or unions etc.

iv.Public relation

v.Liaison with government & other outside/external agencies.

2. Sources of authority.

i. Decision making

ii. Delivering order

iii. Maintaining discipline

3. Relationship.

i. Maintaining Relation ship with Government

agencies,suppliers,contractors,Lenders,customers.

ii. Developing and improving company goodwill in market.

Types of organization structure:

1. Line organization

Owner

_________|__________

| |

Site engineer 1 Site engineer 2

_______|__________

| |

Site supervisor 1 Site supervisor 2

|

Workers, clerks, operators.

This is the type of organization structure & is suitable for small

organization. It is also known as military type organization. This type is based on

relative authority & responsibility. Immediate superior is th e one who gives ordersto his subordinates, assign duties, dismisses & takes action against defaulters.

Advantages:

1) This type is easy to understand, control & strict in discipline.

2) Delay can be avoided in communication & orders.

3) Responsibility of job can be fixed on an individual worker. As a result each

worker can take full interest in the work.


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1) This system provides specific knowledge & guidance for each workman

through expert advice & supervision.

2) The division of work is planning to achieve greater efficiency.

3) The functional heads are relived from routine duties & hence can get more

time to think & plan about improvement & modernization.

4) Labour work is separated from mental or intellectual work.5) Such organization can take up more specialized jobs.

6) Functional; efficiency of each work is high & it naturally develops sense of

responsibility.

Disadvantages:

1) The system cannot maintain strict discipline as each supervisor or foreman

receives different instructions from different experts.

2) Separation of mental work from manual work leads to some kind of

monotony. This is specially true in case of the workers of lower levels.

3) If there is no proper coordination among different departments then there is

communication gap & delayed in progress of each work leading to increase in

project cost.

4) Sometimes it creates friction in different departments.

5) Every time the lower level workers require written instructions leading to

wastage of stationary.

6) Also the payments of expert & specialized are more.

3. Line and staff organization

This type of organization structure is a combination of about two types and is

normally observe almost in all big organization and companies. The upper part of

organization or staff part is not rigorously engaged in day to d ay routine works hence

they can think and plan for future and development of the organization. The lower

half of the organization is engaged in the day to day fortune production work. Still

these people have chances of promotions to upper part.The speciali st and experts

work as staff officers and advisors.

Advantages

1. Compared with the size of organization, the number of specialist is

reduced hence the organization becomes economical.

2. the effective co-ordination of functional heads and supervisory staff is

achieved

3. Specialists are meeting to think about the improvements and increase

profits by carrying research.


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4. Shrinking of responsibility is not possible at any level.

5. this type avoids confusion and friction that may prevail in functional

organization

Disadvantages

1. The prestige of line execution is suffered as the work is planned in

advanced and many decisions are already taken this hampers his

authority.

2. To establish the exact relationship between l ine and staff is difficult and

never be cleared defined.

Leadership and Motivation for the project team

Leadership can be define as that function or characteristic of human being which

binds a group of a people together and motivating its activities i n an organized

manner. A site engineer or a manager as a leader, directs guides and influences the

workers and offer subordinates in attaining definite goal.

Characteristics/Qualities of good leadership :-

1. Intelligence or intellectual level of the tender must be above average of the group.

2. Posses technical background and sound education; with sound judgement.3. Acquire /posses the art of effective communication with his subordinates.

4. Able to take quick and sound decision.

5. Must have sense of responsibility and accountability.

6. Capability to guide and teach the subordinates.

7. Must have good physical energy.(physical fitness)

8. Encourage teamwork and unity in the team members.

9. Analyse group functioning as member of a family.

10. Impartial.

Motivation:

One of the important aspects of management of an organization is to motivate the

subordinates to achieve the goal. Motivation means inspiring people to intensity

there desire (concentrate) and make them willing to execute their duties effective

and also to co-operate fulfilling common objectives.Motivation thus, produces will to

achieve and will to perform.


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Motivation system

According to ODONNEL & Knootz there are 4 parameters of any motivation

system in any organization

I. productive:The motivation system must be such that the workers should get a

sufficient encouragement to contribute their efforts in production. The

productivity should be at maximum level.

II. Competitive:

It means the organization must make profits through the effor ts of fully

satisfied workers .That is workers should get salaries, compensation and

incentives

III. comprehensive

The motivation system should be easy to understand for every worker

of the organization and it should take into consideration all the basic needs

and some of the other needs of workers.

IV. flexible:

the motivation system should be flexible that means when there is the

change in the situation of working conditions, working persons, errors,

mistakes ,new machinery etc, the motivation systems should also change to

adopt the new situation quickly and easily[without friction]

Project Manager:

Project manager is the key person in any oraganisation.He should possessgood leadership qualities.Overall project success depends on decision of

manager.he is the responsible for each and every activity. The project manager tries

to achieve a mission by

1. Managing--Time & progress;Cost & cash flow;Quality &

performance;Organisational behaviour.

2. With Organisational resources (human resources)

3. ByPlanning,Scheduling,Organising,Directing,Motivating,Controlling &

Monitoring Various resources.

4. Within Time,Cost,Quality and Environment Constraints.

Role of project manager:

1. Figurehead role.


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The project manager is the legal & social head of the project, & he is

the single focal point for making decisions, ceremonial functions & symbolic

duties.

2. Leadership role.

The project manager leads the interventional efforts in the project

organizational efforts in the project organization by building a performancemotivated team of skilled & experienced people to face the challenges or

projects.

3. Liasioning role.

Project manager maintains good relations & contacts o utside the

organization e.g. vendors (suppliers), prospective clients, government agencies,

top person in the same industry.

4. Monitoring role.

The project manager monitors various things in the organization like

time, cost, quality, speed of work to gain assured results.

5. Disseminators role.

The project manager transmits the relevant & new information received

from outside & internal sources to the people in his organization.

6. Spoke persons role.

The P.M. acts as sole representative of his organization to the clients

or external parties.

7. Entrepreneurs role

The P.M. seek an identifies opportunities to promote improvements &

changes.

8. Disturbance handling role.

The P.M. maintains organizational harmony by resolving disputes &

diagnosing organizational behavior on time. He takes corrective actions

during unexpected disturbance too.

9. Resources locaters role.

The project manager takes the responsibility for allocating the project

resources & makes any changes to ensure availability of adequate resources on

time.

10. Negotiators role.

The project manager negotiates important conflicting issues &

business, both inside of the project environment, to have better performance at

min or reasonable cost.

# Functions of project manager:

1) Planning

Never stop questioning--curiosity has its own reason for existence[Sir Albert

Einstein].[ http://freaky_freya.tripod.com/einstein.html ]

Approach of the manager should be like this,in the planning stage he should

considered various aspects and conditions of works.As----


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a. What, when and where it is to be done?

b. Who will do it?

c. What is the method to do it?

d. What resources are to be used?

The planning should be considering capacity and working conditions of

the organisation.Planning should be perfect, with 5 -10 % allowance foruncertainties.

2) Organizing

A group of people working together to achieve a common goal. The

organizing function of any management includes-

Division of work, selection of right person fro right job giving task or target for the

shift or working hours, training the workers for better performance, promoting the

workers at higher places, transfer of workers, record keeping of employees from

recruitment to retirement etc.

3) Directing

Directing the day to day activities of a project management. It includes

giving orders & instructions to the subordinates for hassle free working

environment for better performance & to reduce rate of accidents & wastage of

materials & also to reduce idle time.

4) Coordinating

The success of any organization depends on the collective efforts of

individual in that organization. Coordination involves the development of sense of

unity among all employees to achieve the common goal. i.e. if properly

coordinated, the individuals can supplement each others efforts & become more

& more productive.

5) Controlling

It means maintaining discipline in the organization. This is necessary

to keep the progress of the project work as per planning schedule, to maintain

hierarchy of the personals, to reduce wastage of materials & idle time & to make

the employees feel that they are responsible members of the organization.

6) Supervising

It means observing & maintaining the sped of day to day work for

quality control & stipulated progress of work. Here every individual is observed by

his superior for the betterment of the project & organization.

7) Economizing

It is another important function of any management to earn a

reasonable profit from the project for the organization. It can be achievedthroughQuality control, speed of work as per schedule, minimizing wastage of

material, reducing idle time of manpower & machinery etc.

Project Life Cycle & Planning:

Planning:


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Planning is the process of developing the project plan. It includes planning for

resources & scheduling. It means formulation of a time based plan of action for

coordinates to achieve the specified objectives; and putting the plan on

calendar/time scale. During execution the plan has to be modified due to various

construction & inference happening.

Planexecutionmonitoringre planexecution

This is an endless process until a completion of a project.Plan gets

alter several times due to change in customer demand and project concept.

Development of project plan is done by breaking down the project in

subprojects,defining work task,fixing the precedence activities,computing duration of

each activity,and calculating project total duration. Manner of execution,resources

available and mode of finance are the most crucial factors which are considered in

planning.

Planning of project on B.O.T basis:

Govt. side Contractor side

1) Pre execution planning

i. Initialization of concept

ii. Surveys.

iii. Finalization of site

iv. Design, drawing,

estimate.

v. Administrative approval-

budget provision

vi. Technical sanctioningvii. Land acquisition

viii. Floating tenders

ix. Verifying tenders of

succeeded or selected

contractor & finalization of

contract.

1) Pre execution planning

i. Study of tender

ii. Review of companys

capabilities

iii. Working out design,

estimates.

iv. Arranging for a raising

fund.

v. Accountsloan, interest,expenses, toll period,

profit.

vi. Filling the tender forms.

2) Execution

i. Handling over site

ii. Appointment of P.M.C. forapproval of changes in

design, drawing & estimate.

iii. Inspection & quality control

iv. Commissioning, functioning

of project.

2) Execution

i. Acquisition of site

ii. Work orderiii. Camping facility

iv. Breaking into sub projects

v. Modification in design &

estimate to economize the

project cost with out

affecting/compromising


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b. feasibility studies

The whole study is done in this stage on the part icular project.

The application, purpose is studied in this stage. No of affected people is

less.

c. various surveys

Various surveys are done for that project before theconstruction. It may be of measurement of land & its nature.

d. investment appraisal

In this stage the total cost expected for the project is calculated

by the government department.

Benefit cost ratio is also calculated.

e. project definition

In this stage the project is grouped in various construction

activity or the purpose of the project. E.g. bridge, canal, road etc.

Includes above all things.

2. Mobilization/Planning

a. project preliminary plan

The plans are prepared for the work. the planning is done for

money, machinery & labours etc. for the work. It is the overall view about

project.

b. design & drawings

The necessary design & drawings capacity, functional; structural

design & set of drawings are repaired for the work. It includes

1) the model or plan of project

2) The capacity of the project, function, structural design & set of

drawing

c. specifications & estimates.

The estimates are done & actual cost is found out for the project

& the specification of the work for project is also decided.

d. Contract finalization

In this stage the contractor is selected for project work by

tendering, B.O.T, or department or contract.

e. Resource mobilization

In this stage the source of money, machinery & labour & work is

started.

3. Execution or Construction

a. planning & contracting

The planning of machinery, equipments,& labours are done.

Subcontracts.

b. actual execution

the actual work is start in this stage.


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c. supervision & quality control

in this stage the supervision is done by the site engineers at the

same time quality control is also checked while construction.

d. Commissioning

The complete project is given to the owner or government

department. Demonstration of complete parts/components.

4. Completion

a. Site cleaning & pack up of workers, machinery etc.

In this site dearness is done & packing of all labours, machinery

& remaining material.

b. Handling over the project to owner or government department.

Handling over to the owner.

Risk management

Risk, An unfavourable elements/process which affects the normal functioning or

process or results of process is known as risk.It is an unpredictable activity in all

projects which hamper the project life cycle.Risk may occur in any form and at any

stage of project.The exact duration, start and end time of risk is very hard to

predict.Risk is unavoidable,but proper investigation and prevention can reduced the

quantity and effect of it.Most of the projects fail only due to improper risk

management, which is the only vital tool to fight against any certainties.

To develop or implement risk management technique it is necessary for any

organisation to analyse the risk.This is the basic step in risk management.Risk

management is not the fire extinguisher,used in emergency,but it has to used from

early planning stage t ill project delivery.No doubt risk management technique needs

some time and money.But it is worth to spend money and time for risk management

in the early planning stages of the project.Otherwise the impact due to risk will be

more higher than the time and money spend.So it is wise to implement such good

technique in early stages, as risk factor,its quantum and difficulty will go on

increasing as project life cycle progress,and it is hard and expensive to control risk in

delivery stage.

Techniques used in risk management

Risk Identification,Risk Assessment, Response Development, Risk response control.

Risk Identification:-


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Sources and quantity of various risks are identified with its impact on project

environment. A brain storming session between all organisational member is good

solution for possible outcome of potential risk. All members in this session analysed

and put their ideas about the risks and all such ideas are welcomed and noted

down.Discussions with experts, other project authorities, stak eholders is helpfull in

proper identification of risks.Other options like detailed study of design,drawing,pastproject review is additional information to organisation.the outcome of brain storming

sessions,discussions,design study will be indicative of v arious possible risk

occurrence situation.

Proper breakdown of project in 4 parts for risk identification is more suitable to

identify the risk according to/considering

i)Construction Risks

a)delay in project completion,

b)failure in acheivimg standard performance specification.

c) Availability of skilled labour & guarantee of labour productivity.

d) Inability of contractor to perform.

e) Safety risks related to injuries, accidents.

ii) Operating Risks

a)Cost difference between actual and estimated cost for operating &

maintaining plant.

b)Price fluctuation of raw materials.

c)Inconsistent supply of raw material from supplier.

d)Low customer demand for project output.

iii) Political Risks

a)Political instability,war,riots.

b)Increased taxes from government.

c) Inability of government to provide project facilities.

**It is very hard for project manager to control the political risk**

iv) Financial Risks

a) Increased interest rate.

b) Fall in share value, equity of company

c) Sudden inflation rate.

Risk Assessment:-


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It helps to getclear idea about the quality and quantity of risks and its possible

effect on project.Risk assessment is done in 2 types -

a)Qualitative

Quality of the risk is analysed with the help of list which indicates the risk

compiled from experience,interviews with key participants and ideas from

brain storming session.Likely occurrence and probability of risk is mostimportant aspect in qualitative analysis.

b)Quantitative

The actual loss due to risk is calculated by implementing more

sophisticated analysis techniques and computer programmes.Estimation of most

likely affected factors such as cost, duration, project activities are done.

Response Development:-

a)Avoiding,

Alteration in the original plan and working strategy to minimise potential of

risk. sing the approach that does not have risk, but this option is notalways feasible.This is the most effective risk management techniqu e if

utilised properly.

b)Transferring

Transferring responsibility of risk management to another party, by contract

or by hedging. Paying extra amount to transfer risk to party, which can deal

properly with risk.

c) Mitigation

Reducing the likely occurrence and effect of Risk event, by Insuring

property, machinery, material, manpower. Proper Risk analysis will help to

reduce the risk impact.

d)Sharing

Sharing or distributing risks with various authorities, responsible for project

completion. It may help to reduce time and cost for risk management. And as

risks is being shared with responsible parties, they will work more carefully to

avoid it.

e)Retaining

As far as possible any organisation tries to avoid the circumstances of risks,

though it is unavoidable.So best policy is to accept Risk, and plan the strategyfor risk preventive measures.

Risk response control:-

Organisation should monitor and keep control on the risk.Risk response

control involves a risk management plan; keeping record of past risk and the

methodology designed to counteract it;description of proposed corrective

plan;cost involved and resources implemented when situation arise;further


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information of possible risk which will keep organisation ready to battle

against risk.

Negotiation

The process in which the price level of any commodity is reduced to an acceptable

limit without compromising with quality and specification,further order size can be

adjusted to get some discount.

sually negotiations are held with the supplier after the receipt of quotations. Though

the prime purpose of any negotiation is to reduced the prices, it can also be to

finalized various other details like delivery schedules, quality discounts,

specifications as per standard material instead of special materials etc. etc.In

negotiation both sides tries to win according to their policy but the difference is thatone party wins more & other wins less.

Before negotiation starts both parties defined their negotiation policy, according to -

Fixing the right prices of the goods,insuring the delivery schedule& assuring

maximum cooperation from the supplier. It is advisable to consider the suppliers

capacity before fixing the delivery schedule.

In a major contract of procurement of materials, a large number of issues have to be

resolved, the actual negotiation session may be completed in a few hours or

prolonged to a number of days.

Preliminary sessionThis session is a sort of fact finding session where the facts are

discussed, the problems are defined & data collected is framed to formed the

agenda for the negotiation session. Both sides bring out the assumptions made

by them. Clarifications of certain technical terms are cleared.

Door Knob Method

Some times the negotiator uses a weapon what it is called as door knob or he

will leave if his offer is refused. In such situation the other party has to compromise

for getting business otherwise has to leave this transaction.

# Personal abilities of a good negotiator:

The prime qualities of a successful negotiator are as follows:

1) Knowledge:

A good negotiator must have a good working knowledge of all primary

functions of business like economics, finance, engineering cost accounting

business law etc. He should know the process of contract agreement & technique


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of negotiation. He should know the manufacturing technique, its raw material, its

substitute material etc. & the various factors affecting the price of the material. He

should be jack of all treads & should act as a leader of negotiation.

2) Skill

He must be skillful in identifying various issues & their importance in

planning, communication & arguing in negotiation meeting. He must posesfluency of expression.

3) Attitude

He should have studied psychology & philosophy & must understand

human relations & interaction of group members. He should think not only

positive but also happy & progressive.

4) Ability to analyze

He should have clear thinking & posses sound judgment to plan &

consider various alternatives objectively

5) Calm, quite & impersonalIn all situation, the negotiation should remain calm & quite but

impersonal. These are difficult quality to practice particularly during the hot

discussion in negotiations.He should be a good listener allowing others to talk

6) Company point of view.

He should approach a problem to safeguard the interest of his

organization only rather than his personal prestige.

7) Sense of humor

He must tactful & have a sense of humor. One cannot win every point

every time but the ability to make a job displays good humor even when loosing a

point.

8) Persistence(persuasiveness)

He must be able to persist in his efforts to solve the problem to mutual

satisfaction without causing any butterness.

Cost time analysis:

Cost:

Cost of production-

The cost of production in a general sense, is the cost of producing a

particular commodity. The cost of each of item & process included in producing the

finished product, right from purchasing raw materials to convert them in finished

goods, is taken into account to workout the cost of the product.


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Cost accounting can be stated as the process of recording business

transactions in systematic manner.

Necessity of cost control:

Cost control is an effective tool in PJM for both parties- owner & contractor.Its helps-

i. To reduce/avoid wastage & misuse of material.

ii. To increase the profit margin & reduce losses.

iii. To compare between budgeted expenditures and actual expenditures from

time to time. This gives an idea regarding the level of profit as loss to the

contractor.

iv. Cost control provides basis of modification of rates or processes to have

better output conditions.

v. It helps in taking remedial during the progress of work.

Stages of cost control

1. Before or Pre construction

At the time of design & drawing , care should be taken to prepare most

economic design of every component. Specifications should be properly framed.

The engineer should formulate a detailed schedule or netw ork with proper

progress rate.

2. during construction

Contractor should ensure that all required resources are adequate and

available in time. Optimum use of materials should be made & wastage

minimized. Optimum use of machinery with minimum idle time. Proper

supervision for quality control & also for cost control. Indirect losses due to

accidents or stoppage of work should be minimized by adopting safety measures.

# Variation of direct cost with time:


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Explanation of graph of Variation of direct cost w ith time

On the graph cost is taken on Y axis & time is taken on X axis. The graph

shows that if the time required for completion of any work is normal time or the work

is completed within normal time then the cost occurred for the completion of that

particular work is normal cost. But if we want to crash or minimized the time of

production of work or we want to complete the work before the normal time means in

the crash time then we have to appoint more labours, machinery for completion of

work, and we have to pay extra charges for the labours, machinery, light etc. Due to

this crash time the related cost will be increased. And if we does not complete the

work in normal time then the cost and time will also be increased.

Difference in costs crash cost normal cost

Cost slope = ---------------------- = ---------------------------

Difference in times. Normal time crash time


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1. Normal time:

It is the time to complete an activity with normally available resources

in normal conditions.

2. normal cost

it is the minimum direct cost when an activity is performed or

completed in normal time duration

3. crash time

it is minimum time in which an activity can be completed by increasing

other resources like manpower , material , machinery & hence money.

4. crash cost

it is the direct cost corresponding to crash time & is higher than normal

cost.

Principles of project management

1. Division of work;

Work is to be divided in number of units as per the type and nature of wo rk .it helps

in placing right person on right job and increases the efficiency and output.

2. Authority and responsibility

Authority is the right to give orders and power to command the subordinates while

responsibility is the duty or binding to perform. For better efficiency of a group,

authority and responsibility should go hand in hand

3. Disciple:

Discipline is respect for rules, norms etc. for smooth and stream line workconditions.

4. nity of command

It means that employees should have a single boss or if there are number of

superiors and specialist, then they should have unity in their commands. This avoids

confusion, mistakes, delay etc . . . . And creates obedience.

5. nity of direction

Activities having same objectives must be grouped, under one head and one plan.

It allows co-ordination of work and workers.

6. Subordination of individuals to general interest:No employee should initiate to have his interest prevail upon others interest. Instead

individuals should follow the superiors ord ers

7. Remuneration:

The wages or remuneration, salary paid to the employee must be fair and

reasonable. Other facilities like bonus, incentive, overtime, and share in profit etc.


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create a sense of satisfaction in the employees and these factors improve the

living standard of employees, the rate of production, efficiency etc.

8. Centralization

if the authority or power to pass orders, instructions etc.etc. are in the hands of

very few officers then it is called as centralization. It should be of moderate nature

otherwise high degree of centralization may cause delay in decision making at lowerlevels.

9. scalar chain

Chain of commands is the chain of authority ranging from the top rank of

management to the lowest subordinate in the organization. A ll communications are

transmitted along this path.

10. order

According to many management scientist there are right man for right work &

right materials for right man . If these are maintained in an orderly way, it helps in

stream lining the work procedure.11. Equity

It means fair delays giving equal chances & benefits to all subordinates.

12. Stability & security of job.

The employees must feel that they are stable & secure in their job. Any person

with a fear of loosing his job cannot be expected for higher productive.

13. Initiative

The employees must be encouraged to think out separately & suggested to

execute the plan with independent discretion.

14. nitynion is the strength. The management must encourage the subordinates for

team work. Divide & rule is not good principle of management, though it is normally

referred to as a popular principle of administration & dictatorship.

Conclusion:-

Project management is the demanding and most popular criteria for all projects fromdifferent sectors. It is a key having numerous solutions for project problems.But

proper implementation and utilisation of such a best technique in any organisation is

very crucial. Project management and project manager plays the key role for

projects. Project Manager is the responsible person for success as well as failure of

project. He is the only one person who can control and utilise the best resources he

had within the organisation.Now a days they are playing very important and broader

role,in addition to technical knowledge and traditional skills, he should possess good


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political skills,customer relationships skills,and business skills. Good organisation

with coordination and cooperation indicates that all projects are not only for failure,

but for sucessfull completion as well. Motivation is the good tool of project manager to

cheer up his team members and get work done on time.Project is not a ordinary

thing, which can be planned haphazardly.every project involves huge

investment,resources,techniques.therefore perfect and accurate planning isnecessary from the early stages of the project.Breakdown of project structure in

small activities is good practice.

Risk management is the tool ,through which one can get the idea about the

unpredictable furure uncertainties which affect the project.It not only reduces the risk

of cost and time overrun but also the impact on project.At the end of any project

overlook should be given to view the risks arrived and methodology adopted to

overcome it.No body wants to think about any uncertainties or wrong things arrising

in the project especially in the early stages,but doing so it is very important to plan

against any uncertainties. All project entities, team members experts and stake

holders should work in hand in hand with good cooperation and coordination.Proper

planning,risk management,good organisation,and Manager with good leadership

qualities are the main pillar of any successfull project .

References:-

y http://www.projectsmart.co.uk/history-of-project-management.html

y http://www.projectsmart.co.uk/introduction -to-project-management.html

y (http://www.projectsmart.co.uk/project-management-risk-management.html)

y (http://www.projectsmart.co.uk/project-management-risk-management-

options.html)


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y KK Chitkara ,Construction project management book,1998,India.

y Dr.Parvar Jamshid,Management of Project,Blackboard,The niversity of

Manchester, .K.

y Prof.Fiona Saunders,Project Finance, Blackboard,The niversity of

Manchester, .K. ]y Wisdom of Sir Albert Einstein, http://freaky_freya.tripod.com/einstein.html

y

as project management evolves a new set of issues is demanding attention

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