Janne tu ya Jaane na ____

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Janne tu ya Jaane na ____

• Film Making Discovery of Drug?

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WELCOME To ALL OF YOU Project Management

• RAHUL JAIN
• (Striving for excellence)
• BCOM (H), MBA, FCS

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Project - Meaning

• Project is an activity which is unique and
  temporary and helps in implementing the strategy
  of the organization.

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Project Management

• Project management is the art and science of
  directing a team of people to accomplish a
  discrete goal.
• Project Management deals with managing unique
  activities in a time bound schedule.

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Project

• Projects are used today as a way of achieving a
  variety of outcomes- in local or international
  locations for new constructions, new product
  development product improvement, process design,
  process improvement, utility installation, theory
  and technology development, and many more.
• Bringing a project to a successful conclusion
  requires the integration of numerous management
  functions like controlling, directing, team
  building, communication and others.
• Examples
• Developing a new product or service
• Constructing a building
• Implementing a new business procedure

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Aim of the Module

• The module is designed to facilitate your broad
  understanding related to Project Management
  concepts, principles, issues, and stages.
• This module will also familiarize you with the
  industry practice/ requirements to be a project
  manager and also inculcate the abilities to
  manage a project and work with a team.

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Spirit of Innovation Converting Idea into
Success

• Being Different
• Having Fun
• Vision creates Opportunities, Execution
  Creates Magic

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Being Different

• Can We change the status quo ?
• Can We take the Initiative ?
• Can We leverage on our strengths ?

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Some Examples
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Having Fun

• Can We be creative ?
• Can We do the same thing in better manner ?
• Can We enjoy the process ?

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If you win a 50 crore lottery. What kind of work
would you be doing?

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Our Strategy for achieving these Objectives?

• Concepts, Cases and Class Discussion
• Punctuality, Participation and Preparation
• (Its compulsory to bring your own calculators,
  Pen, Stationary, Registers, Prescribed Book,
  Printouts of the Intranet documents- Otherwise
  disciplinary action will be taken)
• Judgment challenge
• Learning to communicate ideas
• Learning from each other
• Learning through discovery

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What is Good Participation?

• Quality, not quantity.
• Analyzing and discussing course material.
• Questioning the analysis of others.
• Seeking clarification.
• Summarizing / synthesizing.
• Adherence to guidelines for professional conduct.

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Some Important rules

• Switch off your Mobiles
• Attendance rules will be strictly applied
• Non completion of Assignment will lead to strict
  disciplinary measures
• Students can gather additional bonus points by
  being a Performer 4 times in the whole course.
• Students falling in the Improvement category
  would be penalized.

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Project and Routine Activity Differences

• Temporary
• Unique

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Project and organization - Similarities

• Performed by people
• Constrained by resources
• Planned executed and controlled

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Comparison of Routine Work with Projects
Routine, Repetitive Work Taking class notes
Daily entering sales receipts into the
accounting ledger Responding to a supply-chain
request Practicing scales on the piano
Routine manufacture of an Apple iPod Attaching
tags on a manufactured product
Projects Writing a term paper Setting up a
sales kiosk for a professional accounting
meeting Developing a supply-chain information
system Writing a new piano piece Designing an
iPod that is approximately 2 X 4 inches,
interfaces with PC, and stores 10,000 songs
Wire-tag projects for GE and Wal-Mart
TABLE 1.1
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Integrated Management of Projects
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Project Life Cycle
FIGURE 1.1
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The Challenge of Project Management

• The Project Manager
• Manages temporary, non-repetitive activities and
  frequently acts independently of the formal
  organization.
• Marshals resources for the project.
• Is linked directly to the customer interface.
• Provides direction, coordination, and integration
  to the project team.
• Is responsible for performance and success of the
  project.
• Must induce the right people at the right time to
  address the right issues and make the right
  decisions.

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The Importance of Project Management

• Factors leading to the increased use of project
  management
• Compression of the product life cycle
• Global competition
• Knowledge explosion
• Corporate downsizing
• Increased customer focus
• Rapid development of Third World and closed
  economies
• Small projects that represent big problems

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Why Project Managers Need to Understand the
Strategic Management Process

• Changes in the organizations mission and
  strategy
• Project managers must respond to changes with
  appropriate decisions about future projects and
  adjustments to current projects.
• Project managers who understand their
  organizations strategy can become effective
  advocates of projects aligned with the firms
  mission.

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The Strategic Management Process An Overview

• Strategic Management
• Provides the theme and focus of the future
  direction for the firm.
• Responding to changes in the external
  environmentenvironmental scanning
• Allocating scarce resources of the firm to
  improve its competitive positioninternal
  responses to new action programs
• Requires strong links among mission, goals,
  objectives, strategy, and implementation.

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Strategic Management Process (contd)

• Four of Activities of the Strategic Management
  Process
• Review and define the organizational mission.
• Set long-range goals and objectives.
• Analyze and formulate strategies to reach
  objectives.
• Implement strategies through projects

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Strategic Management Process
FIGURE 2.1
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Characteristics of Objectives
S Specific Be specific in targeting an
objective M Measurable Establish a measurable
indicator(s) of progress A Assignable Make the
objective assignable to one person
for completion R Realistic State what can
realistically be done with available resources T
Time related
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Financial Goals of Project

• Profit maximization (profit after tax)
• Shareholders Wealth Maximization

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Profit Maximization

• Maximizing the Rupee Income of Firm
• Resources are efficiently utilized
• Appropriate measure of firm performance
• Serves interest of society also

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Objections to Profit Maximization

• It is Vague
• It Ignores the Timing of Returns
• It Ignores Risk
• Assumes Perfect Competition
• In new business environment profit maximization
  is regarded as
• Unrealistic
• Difficult
• Inappropriate
• Immoral.

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Shareholders Wealth Maximization

• Maximizes the net present value of a course of
  action to shareholders.
• Accounts for the timing and risk of the expected
  benefits.
• Benefits are measured in terms of cash flows.
• Fundamental objectivemaximize the market value
  of the firms shares.

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• Financials/Costing Of Project

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Annual Cash Flow

• Year1
• Sales 7,035,600
• COGS 5,800,000
• Other expenses 612,960
• Depreciation. 120,000
• Total. Op. costs 6,532,960
• EBIT 502,640
• Non Op. Expense 80,000
• EBT 422,640
• Taxes (40) 169,056
• Net income 253,584
• Add Depreciation 120000
• Cash Flow After Taxes 373584

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Project Costing Processes

• Resource planning determining what resources and
  quantities of them should be used
• Cost estimating developing an estimate of the
  costs and resources needed to complete a project
• Cost budgeting allocating the overall cost
  estimate to individual work items to establish a
  baseline for measuring performance
• Cost control controlling changes to the project
  budget

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Idea Generation

• http//www.knowthis.com/market-research/idea-gener
  ation-and-trends-research.htm
• http//money.cnn.com/popups/2006/biz2/crowdcasting
  /index.html

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Class Assignment I

• Individual Assignment-
• Maintain a file
• One page key learnings from Videos, Readings
  Class
• Write the Vision Mission statement of your life
  ( Both professional and personal) Short term
  professional goals. ( In A4 sheet)
• 3) Two Business Ideas with one para
  justification for each idea.
• Bold Show it in the IInd Class to have feedback
• Refer www.finishingschool.pbworks.com,
  rahulkjain16_at_gmail.com, 9811228852
•  

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Viva Vth Class - 3rd September

• Key learnings of first three classes Vision
  Assignment
• Make a file -27th