Understanding Projects and Project Management

Turkish version is also available: Proje ve Proje Yönetimi Kavramları

In the first installment of the series I'm starting on project management, I will share the introductory topics about project management along with the knowledge I've acquired and the results of my research. I hope this series, which I have written both as preparation for the PMP exam and as a learning tool for myself, will assist readers who aspire to succeed in this field. I wish you all enjoyable reading. ✌️

What is a Project?

• A project is a temporary and specific initiative that an organization or an individual plans and executes to achieve a particular goal or outcome. This initiative has a defined start and end point and is typically intended to be completed within a specific timeframe.
• Projects are created by bringing together a series of interconnected activities or tasks.

Characteristics of Projects

• It is a one-time effort: Projects are typically designed as one-time and temporary endeavors. They continue for a limited duration until a specific outcome is achieved and conclude once completed.
• It has a specific purpose and desired outcome: Every project aims to achieve a specific purpose or outcome. This purpose and outcome should be clearly defined at the start of the project.
• It has a beginning and an end: Projects begin with a defined start date and reach a specific end date. Within this timeframe, the project is expected to reach its goal.
• It has a time constraint for completion: Every project must be completed within a specified time limit. This timeframe plays a significant role in the planning of the project.
• It requires a group of various functions (cross-functional): Projects are executed by a team with different skills and expertise. This team may include members from different functions or areas of specialization.
• It has limited resources: Every project has a specific budget and resource pool. These resources need to be effectively managed to successfully complete the project.
• It follows a meaningful sequence of interconnected activities: A project involves a series of interconnected activities. These activities often follow a logical sequence and are dependent on the completion of the preceding ones.
• It has an obvious user of the end result (customer): The output or result obtained at the end of a project is typically intended for use by a customer or stakeholder. This result aims to meet the specific needs of a user.

These characteristics of projects are used to make project management more effective and ensure the successful completion of projects. Proper planning, efficient resource utilization, and aligning results with customer needs all contribute to achieving the project's purpose.

Success of Projects

In order for projects to be successful, elements such as time, cost, and performance need to be managed in balance. These three elements are often considered conflicting objectives because a change in one can affect the others.

1. Time: The project needs to be completed within the specified timeframe. Delaying the project can lead to extra costs and potentially impact other projects or business operations. Additionally, factors such as market conditions, competition, and technology may make time a critical factor at times.
2. Cost: It's important to stay within the allocated budget to complete the project. Cost overruns can lead to budget overruns, which can affect the financial health of the organization. Factors such as economic conditions, material prices, and labor costs can influence project costs.
3. Performance: The project needs to be completed according to the specified objectives and requirements. Performance includes factors such as functionality, quality, and customer satisfaction. Poor performance can result in customer dissatisfaction and additional rework.

A balance needs to be struck between these three factors. For example, allocating additional resources to shorten the time frame may increase costs or impact performance. Alternatively, cutting costs may affect performance unless carefully managed.

Project management involves developing and implementing strategies to balance these conflicting objectives. A skilled project manager effectively utilizes resources to achieve this balance and successfully completes the project.

Project Management

Project management is the process of planning, organizing, managing, and controlling resources and tasks to achieve the time, cost, and performance goals of a project.

1. Scope Management: Defining what will be included in the project and what will not is important. Scope management involves clearly defining the scope at the beginning of the project and then tracking and controlling changes to it as the project progresses.
2. Time Management: Determining the project schedule and ensuring the project is completed on time is crucial. Time management involves planning project activities, tracking progress, and updating the schedule as necessary.
3. Cost Management: Determining the project budget and keeping costs under control is essential. Cost management involves estimating project costs, budgeting, tracking expenses, and controlling costs throughout the project.
4. Quality Management: Ensuring that the project is completed to the specified quality standards is important. Quality management involves defining quality requirements, monitoring quality throughout the project, and performing quality control activities.
5. Human Resource Management: Creating, managing, motivating, and developing the project team is crucial. Human resource management involves assigning team members, providing training, monitoring performance, and managing team dynamics.
6. Communication Management: Facilitating effective communication among project stakeholders is vital. Communication management involves identifying communication needs, creating and implementing a communication plan, and ensuring that information is effectively distributed to stakeholders.
7. Risk Management: Identifying, analyzing, assessing, and managing potential risks is important. Risk management involves identifying risks, analyzing their potential impact, developing strategies to mitigate risks, and monitoring and controlling risks throughout the project.

Effectively managing these elements ensures successful completion of a project. Each one is a critical component that project managers and teams must carefully address.

Why Project Management?

1. It means planning, implementation, and control: Project management entails the process of planning, implementing, and controlling resources throughout the duration of a project. This process is crucial to ensure the successful completion of the project.
2. It provides modern business practices, a new business discipline for companies: Project management represents a modern approach in the business world. Working in a project-oriented manner allows for more efficient business processes and more effective achievement of goals.
3. It requires formal education and skill development: Project management is a field that relies on specific skills and knowledge. Therefore, project managers typically have formal education and specific experience. Project management skills can be developed and reinforced over time.
4. It is a common language in international business: Project management serves as a common language facilitating collaboration among teams from different cultures and geographical locations. Adopting a standard project management approach enables communication and cooperation in international projects.
5. It can be applied in processes ranging from small projects to large, international projects: Project management is a versatile approach that can be applied to projects of any size or scope. It is applicable in small-scale local projects as well as large-scale international projects.
6. It guarantees success when adhering to rules: Project management is a discipline based on established rules and best practices. When applied according to these rules, the likelihood of successfully completing the project increases. This reduces risks, ensures more efficient use of resources, and results in outcomes closer to expectations.

When Project Management?

Small-Scale Projects 🔥

Small-scale projects are typically those that can be completed with limited resources and within short timeframes. Implementing specialized project management for such projects can sometimes lead to unnecessary costs and time wastage. Instead, a more flexible and lightweight management approach or even a simpler structure managed by the business owner or team members may be preferred.

Medium-Scale Projects 🔥🔥

Medium-scale projects require more resources and time and are often more complex. For such projects, project management can be highly beneficial in effectively planning, monitoring, and managing resources required to achieve the objectives. Project management processes and tools can be used to track progress, manage risks, and address changes. Project management for medium-scale projects can often be cost and time-effective, ensuring successful project completion.

Large-Scale and International Projects 🔥🔥🔥

Large-scale and international projects are characterized by numerous stakeholders, complex processes, and high costs. Managing such projects without adhering closely to project management discipline is not feasible. Project management can help reduce complexity and ensure effective utilization of resources required to achieve project objectives. Project management processes can be used to coordinate stakeholders, allocate resources, manage risks, address changes, and monitor project progress.

In this article, I attempted to define the project and project management, discussed the characteristics of projects, and elaborated on why and when project management should be conducted. In my next article, I will be discussing the definition and characteristics of a project manager. You can access my next article through this link: Who is a Project Manager?