Project Management Internship

What is Project Management?

Definition

Project management is the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters. Project management has final deliverables that are constrained to a finite timescale and budget.

A key factor that distinguishes project management from just 'management' is that it has this final deliverable and a finite timespan, unlike management which is an ongoing process. Because of this a project professional needs a wide range of skills; often technical skills, and certainly people management skills and good business awareness.

What is a project?

A project is a unique, transient endeavor, undertaken to achieve planned objectives, which could be defined in terms of outputs, outcomes or benefits. A project is usually deemed to be a success if it achieves the objectives according to their acceptance criteria, within an agreed timescale and budget. Time, cost and quality are the building blocks of every project.

Time: scheduling is a collection of techniques used to develop and present schedules that show when work will be performed.

Cost: how are necessary funds acquired and finances managed?

Quality: how will fitness for purpose of the deliverables and management processes be assured?

When do we use project management?

Projects are separate from business-as-usual activities and occur when an organization wants to deliver a solution to set requirements within an agreed budget and timeframe. Projects require a team of people to come together temporarily to focus on specific project objectives. As a result, effective teamwork is central to successful projects.

Projects require a team of people to come together temporarily to focus on specific project objectives. As a result, effective teamwork is central to successful projects. Project management is concerned with managing discrete packages of work to achieve specific objectives. The way the work is managed depends upon a wide variety of factors.

The scale, significance and complexity of the work are obvious factors: relocating a small office and organizing the Olympics share many basic principles, but offer very different managerial challenges. Objectives may be expressed in terms of:

outputs (such as a new HQ building);

outcomes (such as staff being relocated from multiple locations to the new HQ);

benefits (such as reduced travel and facilities management costs);

Strategic objectives (such as doubling the organization's share price in three years).

Why do we use project management?

Project management is aimed at producing an end product that will effect some change for the benefit of the organization that instigated the project. It is the initiation, planning and control of a range of tasks required to deliver this end product. Projects that require formal management are those that:

produce something new or altered, tangible or intangible;

have a finite timespan: a definite start and end;

are likely to be complex in terms of work or groups involved;

require the management of change;

Require the management of risks.

Investment in effective project management will have a number of benefits, such as:

providing a greater likelihood of achieving the desired result;

ensuring efficient and best value use of resources;

Satisfying the differing needs of the project's stakeholders.

Process Management Triangle

The project management triangle visualizes the problem of "triple constraints"-the need to balance scope, cost, and time in order to maintain a high-quality final product. Every project manager who has known the frustration of trying to keep their team productive with too little time, not enough budget, and an impossibly large scope has experienced the project management triangle in action.

No single variable of the project triangle can be changed without making tradeoffs with the other two points of the triangle. It's the project manager's job to balance all three elements in order to keep their project within budget and on deadline while still fulfilling the specifications of the project's scope.

Below we break down and examine the three points of the project management triangle, how they're related, and how project managers can keep them in balance to ensure project success.

What is the project management triangle?

The project management triangle is made up of three variables that determine the quality of the project: scope, cost, and time.

The triangle demonstrates how these three variables are linked-if one of the variables is changed, the other two must be adjusted in order to keep the triangle connected. If the triangle breaks-that is, if one point is moved without adjusting one or both of the other points along with it-the quality of the project will suffer.

It's a project manager's job to balance the three points of the triangle to achieve the best possible quality while staying within budget, on deadline, and adhering to the project specifications.

How scope, cost, and time are related

There are two types of relationships at play in the project triangle. The first is the relationship between scope and the two other project variables. Scope is directly proportional to both time and cost, which means it moves in the same direction as those factors. When scope increases, time and money must also increase in order to tackle a larger project.

The second type of relationship is the relationship between time and cost, which is an inversely proportional relationship. These two factors move in opposite directions. If costs need to be cut, then deadlines will have to be extended; but if you encounter a sudden time crunch, you'll need extra budget to adjust to shorter timelines.

These two relationships can't be altered-nothing you can do will make it possible to change one variable without causing a corresponding change, either directly or inversely, in the other two points on the triangle. This is why the project triangle is often called the iron triangle of triple constraints. No matter how strong a project manager is, the iron triangle can't be bent to their will.

Roles & Responsibilities

Successful projects are usually the result of careful planning and the talent and collaboration of a project team. Projects can't move forward without each of its key team members, but it's not always clear who those members are, or what roles they play. Here, we'll explain five project team roles - project manager, project team member, project sponsor, executive sponsor and business analyst - and describe each of their responsibilities.

Project Manager

The project manager is primarily responsible for the successful completion of a project. The project manager's role is to ensure that the project proceeds within the specified time frame and under the established budget while achieving its objectives. Project managers make sure that projects are given sufficient resources while managing relationships with contributors and stakeholders.

Project Manager Responsibilities

Project manager responsibilities may include:

Developing a project plan

Managing deliverables according to the plan

Recruiting project staff

Leading and managing the project team

Determining the methodology used on the project

Establishing a project schedule and determining each phase

Assigning tasks to project team members

Communicating with upper management

Project Team Member

Project team members are the individuals who actively work on one or more phases of the project. They may be in-house staff or external consultants, working on the project on a full-time or part-time basis. Project team member roles can vary according to each project.

Project Team Member Responsibilities

Project team member responsibilities often include:

Contributing to overall project objectives

Completing individual deliverables

Providing expertise

Working with users to establish and meet business needs

Documenting the process

Project Sponsor

The project sponsor is the driver and in-house champion of the project. They are typically members of senior management and have a stake in the project's outcome. Project sponsors work closely with the project manager. They legitimize the project's objectives and participate in high-level project planning. They also often help resolve conflicts and remove obstacles that occur throughout the project life cycle and sign off on approvals needed to advance each project phase.

Project Sponsor Responsibilities

The project sponsor's responsibilities usually include:

Making key business decisions for the project

Approving the project budget

Ensuring availability of resources

Communicating the project's goals throughout the organization

Executive Sponsor

The executive sponsor is ideally a high-ranking member of management. He or she is the visible champion of the project with the management team and is the ultimate decision-maker, with final approval on all phases, deliverables and project scope changes.

Executive Sponsor Responsibilities

The executive sponsor is typically responsible...