1.1 Introduction to Project Management

• 1.2 a project is "a temporary endeavor undertaken to create a unique product,service, or result" (PMBOK definition)
• temporary 
• it has a beginning and end, it is not ongoing like business operations. 
• not necessarily of short duration
• the product, service other deliverable of the project might be long lasting or ongoing, but the project ends when its objectives are met, if it has not been terminated before that
• it can create a unique
• product or sub component
• "capability to perform a service" e.g. a team or a new sales department in a newly entered country
• a outcome e.g. a document (research, report...)
• Characteristics
• done at every level of an organisation
• it may involve some repetition but the outcome is fundamentally unique
• company operations produce a repeated outcome, a project produces a unique outcome 
• 1.3 What is project management? 
• PMBOK definition: "the application of knowledge, skills, tools and techniques to project activities to meet project requirements"
• 5 phases of a project: Initiating > Planning > Execution > Monitoring & Controlling > Closing
  
  
• it includes
• defining and documenting requirements
• dealing with stakeholders' needs
• managing the constraints
• constraints
• give and take: if one constraint must be changed then others will have to yield 
• the mix of constraints is unique to each project
• forget 'triple constraints' and focus on the 'competing restraints', including:
• cost, scope, quality, risk, resources, time, + others particular to the project CSQRRT
• balance the needs of these with stakeholder needs and goals of project
• e.g. if the scope is expanded then you will need more time and cost will go up, that or quality will come down