MODULE 1

Project Overview & Scheduling

Foundations of Project Management and Planning Techniques

Welcome to Module 1

This module serves as your gateway to understanding the fundamental concepts of project management, focusing on project initiation, feasibility assessment, and scheduling techniques. Over the next 5 hours of study, you'll develop the skills to analyze project viability and create effective schedules.

Learning Outcomes

LO1: Conduct comprehensive feasibility studies for new projects
LO2: Perform market and demand analysis to assess project viability
LO3: Develop accurate project cost estimates and financial appraisals
LO4: Create project schedules using appropriate techniques
LO5: Apply PERT and CPM methods for critical path calculation

Module Structure 5 Hours

This module is divided into two main sections:

  1. Project Overview and Feasibility Studies (2.5 hours)
    • Project Identification
    • Market and Demand Analysis
    • Project Cost Estimation
    • Financial Appraisal
  2. Project Scheduling Techniques (2.5 hours)
    • Fundamentals of Project Scheduling
    • Introduction to PERT and CPM
    • Critical Path Calculation

Key Topics Overview

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Projects & Their Characteristics

A project is a temporary endeavor undertaken to create a unique product, service, or result with a defined beginning and end.

Key Project Characteristics

Projects are characterized by their temporary nature, uniqueness of deliverables, progressive elaboration, constrained resources, and specific objectives.

Types of IT Projects
  • Infrastructure: Hardware, network, cloud deployment
  • Software Development: Custom applications, mobile apps
  • Implementation: ERP, CRM systems
  • Integration: Connecting disparate systems
  • Data & Analytics: Data warehousing, BI solutions
  • Security: Cybersecurity implementations
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Project Identification

The process of conceiving, defining, and developing project ideas to meet identified needs or solve problems.

Project Selection Criteria

Projects are typically evaluated based on strategic alignment, feasibility, cost-benefit analysis, and risk assessment.

Identification Methods
  • Problem Analysis: Identifying organizational pain points
  • SWOT Analysis: Exploring strengths, weaknesses, opportunities, threats
  • Gap Analysis: Comparing current vs. desired state
  • Brainstorming: Generating ideas from stakeholders
  • Benchmarking: Comparing against industry best practices
Idea Screening Process

Initial filtering of project ideas through preliminary analysis, categorization, prioritization, and alignment with strategic objectives before formal initiation.

🚀

Project Initiation

The formal process of authorizing a new project and defining its initial scope, objectives, stakeholders, and boundaries.

Key Initiation Activities
  • Project Charter Development: Creating the authorizing document
  • Stakeholder Identification: Mapping all affected parties
  • Initial Requirements Gathering: High-level needs assessment
  • Resource Estimation: Preliminary budget and resource planning
  • Risk Identification: Preliminary assessment of major risks
Project Charter Components

A comprehensive charter includes project purpose, objectives, scope (inclusions/exclusions), high-level requirements, deliverables, milestones, assumptions, constraints, success criteria, stakeholders, and preliminary budget/schedule.

📊

Market & Demand Analysis

Systematic approach to understanding market needs, customer demand, and competitive landscape for a proposed project.

Key Components

Includes market size estimation, demand forecasting, pricing analysis, and distribution channel assessment.

💰

Cost Estimation

The process of forecasting the financial resources needed to complete project activities.

Estimation Techniques

Analogous, parametric, bottom-up, and three-point estimation methods are commonly used.

📈

Financial Appraisal

Evaluation of a project's financial viability using various financial metrics and indicators.

Key Metrics

NPV (Net Present Value), IRR (Internal Rate of Return), Payback Period, and ROI (Return on Investment).

⏱️

Project Scheduling

The process of listing tasks, activities, and milestones with planned start and finish dates.

Scheduling Components

Includes work breakdown structure, activity sequencing, duration estimation, and schedule development.

🔄

PERT & CPM

Network-based scheduling techniques for project planning and management.

Key Difference

PERT uses probabilistic time estimates, while CPM uses deterministic time estimates.

Project Overview

What is a Project?

A project is a temporary endeavor undertaken to create a unique product, service, or result. Projects are fundamentally different from ongoing operations in that they have defined beginning and end points, specific objectives, and typically involve a team assembled for the particular purpose of delivering the project outcomes.

Distinguishing Characteristics of Projects:

The Project Management Lifecycle

The project management lifecycle provides a framework for managing projects from initiation through closure. Understanding this lifecycle is essential for effective project planning and execution.

1. Project Initiation

The formal process of starting a new project by defining its purpose, objectives, scope, and stakeholders.

  • Key Activities: Developing project charter, identifying stakeholders, conducting initial feasibility analysis
  • Outputs: Project charter, stakeholder register, preliminary scope statement

2. Project Planning

Establishing the total scope, defining objectives, and developing the course of action required to attain those objectives.

  • Key Activities: Scope definition, schedule development, cost estimation, resource planning, risk assessment, quality planning
  • Outputs: Project management plan, project schedule, budget, risk register

3. Project Execution

Performing the work defined in the project management plan to satisfy the project specifications.

  • Key Activities: Team coordination, resource allocation, quality assurance, stakeholder engagement
  • Outputs: Deliverables, work performance data, change requests

4. Project Monitoring & Controlling

Tracking, reviewing, and regulating the progress and performance of the project.

  • Key Activities: Performance measurement, integrated change control, scope verification, risk monitoring
  • Outputs: Performance reports, updated project documents, change requests

5. Project Closure

Finalizing all activities across all process groups to formally close the project.

  • Key Activities: Deliverable acceptance, administrative closure, lessons learned documentation
  • Outputs: Final product/service/result, project archives, lessons learned documentation
Project Identification Case Example

Scenario: A financial services company is experiencing customer complaints about the time it takes to process loan applications. The customer service department has identified this as a significant issue affecting customer satisfaction and retention.

Identification Approach:

  1. Problem Definition: Customer loan application processing takes 7-10 business days, while competitors average 3-5 days
  2. Opportunity Assessment: Reducing processing time could improve customer satisfaction scores and reduce customer churn
  3. Gap Analysis: Current manual processing vs. potential automated workflow
  4. Stakeholder Input: Customer service, loan officers, IT department, and senior management perspectives considered

Project Identified: Implementation of a Loan Processing Automation System to reduce processing time to 2-3 business days

Preliminary Selection Criteria Assessment:

Project Initiation Best Practices

Effective Project Charter Development:
  • Involve key stakeholders in charter development to ensure buy-in
  • Clearly define the project's business case and value proposition
  • Establish specific, measurable project objectives
  • Define high-level scope boundaries, including explicit exclusions
  • Identify major milestones and constraints upfront
  • Secure formal approval from project sponsor before proceeding
Common Project Initiation Pitfalls:
  • Scope Ambiguity: Lack of clear scope definition leading to scope creep
  • Stakeholder Exclusion: Missing key stakeholders during initiation
  • Unrealistic Expectations: Setting overly optimistic objectives or timelines
  • Inadequate Authority: Unclear project manager authority and decision-making boundaries
  • Poor Business Case: Weak or unquantified business justification
Project Charter Template Elements:
  1. Project Information: Title, duration, sponsor, project manager
  2. Business Case: Problem/opportunity statement, justification
  3. Objectives: Specific, measurable project goals
  4. Scope: Major deliverables, boundaries, exclusions
  5. Success Criteria: Measurable indicators of project success
  6. Constraints: Time, budget, resource limitations
  7. Assumptions: Factors presumed to be true for planning purposes
  8. Key Stakeholders: Names, roles, and influence levels
  9. High-level Risks: Major identified threats and opportunities
  10. Initial Resources: Preliminary budget and resource requirements
  11. Approvals: Signatures of project sponsor and key stakeholders

Feasibility Study Components

A feasibility study is a structured investigation that assesses the viability of a proposed project or solution. It serves as a critical decision-making tool before significant resources are committed, helping organizations determine whether to proceed, modify, or abandon project ideas.

Feasibility Study Technical Feasibility Technology Technical Skills Integration Economic Feasibility ROI NPV Payback Market Feasibility Demand Competition Customers Operational Feasibility Processes Change Efficiency Legal Feasibility Compliance IP Rights Contracts Schedule Feasibility Timeline Milestones Critical Path Resource Feasibility Human Material External Environmental & Social Impact Sustainability CSR

Key components of a comprehensive feasibility study

Comprehensive Feasibility Study Components

1. Technical Feasibility

Evaluates whether the organization has or can acquire the technical resources, expertise, and infrastructure to successfully implement and operate the project.

Key Assessment Areas:
IT Project Example:

For a new enterprise resource planning (ERP) system implementation, technical feasibility would assess whether:

Key Questions:

2. Economic/Financial Feasibility

Determines whether the project is financially viable and justifiable from an investment perspective.

Key Assessment Areas:
Methodology:
Financial Metrics Calculation Guide:

3. Market Feasibility

Assesses market conditions, customer demand, and competitive landscape to determine if the project output will succeed in the marketplace.

Key Assessment Areas:
Research Methods:
Critical Success Factors:

4. Operational Feasibility

Evaluates how well the proposed solution will work within the organization's existing operational framework and business processes.

Key Assessment Areas:
Implementation Considerations:
Warning Signs of Low Operational Feasibility:

5. Legal and Regulatory Feasibility

Examines legal implications, regulatory requirements, and compliance considerations.

Key Assessment Areas:
IT-Specific Legal Considerations:
Regulatory Documentation Requirements:

6. Schedule Feasibility

Determines whether the project can be completed within required timeframes.

Key Assessment Areas:
Schedule Estimation Techniques:
Schedule Risk Mitigation:

7. Resource Feasibility

Assesses whether necessary human resources, materials, and assets are available for project execution.

Key Assessment Areas:
Resource Planning Tools:
Best Practices:

8. Environmental and Social Feasibility

Evaluates the project's environmental impact and social implications.

Key Assessment Areas:
IT Project Considerations:
Assessment Frameworks:

Feasibility Study Process

1. Preparation Phase

2. Data Collection Phase

3. Analysis Phase

4. Recommendation Phase

Case Study Example: Enterprise CRM Implementation

Background: A mid-sized insurance company plans to implement a new customer relationship management (CRM) system to improve customer service and sales processes.

Feasibility Study Highlights:

Technical Feasibility:

Economic Feasibility:

Market Feasibility:

Operational Feasibility:

Recommendation: Based on positive findings across all feasibility dimensions, the study recommended proceeding with the CRM implementation with specific risk mitigation strategies for data migration and change management challenges.

Common Pitfalls in Feasibility Studies
  1. Confirmation Bias: Unconsciously favoring data that supports desired outcomes
  2. Inadequate Stakeholder Involvement: Failing to include key perspectives
  3. Optimism Bias: Underestimating costs and overestimating benefits
  4. Narrow Focus: Emphasizing only one or two feasibility dimensions
  5. Insufficient Risk Analysis: Failing to identify and assess key risks
  6. Ambiguous Criteria: Lacking clear standards for determining feasibility
  7. Documentation Gaps: Insufficient detail to support conclusions
  8. Unrealistic Assumptions: Basing analysis on improbable scenarios
Best Practices for Successful Feasibility Studies
  1. Establish Clear Objectives: Define what success looks like before starting
  2. Use Diverse Expertise: Include perspectives from different functional areas
  3. Apply Rigorous Methodology: Use systematic and data-driven approaches
  4. Challenge Assumptions: Critically evaluate all underlying assumptions
  5. Consider Multiple Scenarios: Test feasibility under different conditions
  6. Document Thoroughly: Provide complete supporting evidence
  7. Update Iteratively: Revise as new information becomes available
  8. Present Balanced Findings: Acknowledge both strengths and limitations
References and Further Reading
  1. Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition. Newtown Square, PA: Author.
  2. Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling – 12th Edition. Hoboken, NJ: Wiley.
  3. Hoagland, H., & Williamson, L. (2000). Feasibility Studies. Kentucky: University of Kentucky.
  4. Schmidt, M. J. (2002). Business Case Essentials: A Guide to Structure and Content. Solution Matrix Ltd.
  5. Ward, J. L., & Daniel, E. M. (2012). Benefits Management: How to Increase the Business Value of Your IT Projects. Chichester: Wiley.

Critical Path Method

The critical path is the longest sequence of activities in a project plan which must be completed on time for the project to complete on its due date.

Real-World Application

Construction Project Example: A building project with the following activities:

The critical path would be Foundation → Walls → Roof totaling 22 days, as this is the longest path through the project network.

Feasibility Study: Analysis of project viability considering various factors

Market Analysis: Assessment of the target market's size and characteristics

Cost Estimation: Process of forecasting project expenses

Financial Appraisal: Evaluation of project's financial worthiness

PERT: Program Evaluation and Review Technique

CPM: Critical Path Method

Critical Path: Longest path through project network

Float/Slack: Amount of time an activity can be delayed

Technical Feasibility: Evaluation of technical requirements and capabilities

Operational Feasibility: Assessment of how well a project fits within operations

NPV: Net Present Value - sum of discounted cash flows

IRR: Internal Rate of Return - discount rate at which NPV equals zero

Interactive Learning

Recommended Resources

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