Project Management Basics: An Introduction for Beginners

Hi there, wonderful humans!

Welcome to Project Manager’s Log! As a freelance project manager and an undergraduate, I’ve come to appreciate the importance of project management in both personal and professional contexts. Today, I’m excited to share with you the basics of project management, including its purpose, key components, the triple constraints, and essential terminology. By the end of this article, you’ll have a solid understanding of what project management is and why it’s vital for both personal success and organizational efficiency.

What is a Project?

According to the Project Management Body of Knowledge (PMBOK), a project is defined as “a temporary endeavour undertaken to create a unique product, service, or result.” The PMBOK emphasizes that a project is distinct from ongoing operations or repetitive tasks. While operations are ongoing and repetitive, aimed at maintaining the status quo, projects are specifically intended to bring about change and create value through innovation and improvement.

For instance, when a client requests a new system to monitor server status and ensure security compliance, developing and implementing this system initially constitutes the project phase. However, ongoing tasks like regularly updating data and generating reports post-implementation fall under operations, as they involve maintaining and optimizing the system’s functionality over time.

What is Project Management?

Project management is the practice of leading the work of a team to achieve a specific goal or to meet a specific success criterion (scope) within a specified timeframe (time) while ensuring we’re within the allocated resource constraints (cost/budget). It involves applying knowledge, skills, tools, and techniques to project activities to meet the project requirements.

The Triple Constraints

A fundamental concept in project management is the triple constraints, often depicted as a triangle with three sides: scope, time, and cost. These constraints are interdependent; changing one constraint will affect the others.

1. Scope: The boundaries of the project, defining what will and will not be included. For example, in a logo design project, the scope includes the design process but not the printing of materials.
2. Time: The schedule for the project, including deadlines for each task and the overall timeline. For instance, completing a website redesign within three months.
3. Cost: The budget allocated for the project, encompassing all financial resources. This includes expenses like materials, labour, and overhead costs.

Balancing these constraints is crucial for project success. If the scope of a project increases, it will likely require more time and cost. Conversely, reducing the time available for a project may necessitate a decrease in scope or an increase in budget.

The Purpose of Project Management

As discussed earlier, there could be many purposes of doing Project Management and the purpose could be subjective in perspective of different individuals. But altogether, the primary purpose of project management could be defined as to ensure that a project is completed on time, within budget, while completing the expected scope and while adhering to the required quality standards. This involves:

• Defining Clear Objectives: Setting specific, measurable goals for what the project will achieve.
• Planning: Outlining the tasks, timelines, and resources needed to complete the project.
• Execution: Coordinating people and resources to carry out the plan.
• Monitoring and Controlling: Tracking progress and making adjustments as needed to stay on track.
• Closure: Finalizing all activities, delivering the finished product, and evaluating the project’s success.

Key Components of Project Management

1. Project Initiation: This is the starting phase where the project’s value and feasibility are measured. For example, when I take on a new freelance project, I begin by understanding the client’s needs, then study briefly on the subject area beforehand and defining the project scope and objectives, while having numerous discussions with the sponsor/ client.
2. Project Planning: Detailed planning is crucial for project success. This phase involves defining the scope, setting goals, creating a project schedule, and budgeting. For instance, when planning a new product launch campaign for a client, I create a timeline that outlines all tasks, deadlines, and assigned responsibilities after studying about the resource's availability. Tools like Gantt charts and project management software (MS Project, Trello boards, Jira boards and even MS Excel or Google sheets) can be invaluable.
3. Project Execution: In this phase, the project plan is put into action. Tasks are assigned, resources are allocated, and teams are coordinated to work towards the project goals. For example, when executing a website redesign, I ensure that designers, developers, and content creators work together seamlessly to meet the project timeline, while having frequent discussions with the teams and maintaining a common space to check the progress of the project such a Jira board/ Trello board.
4. Project Monitoring and Controlling: Continuous tracking of the project’s progress ensures it stays on track. This includes monitoring key performance indicators (KPIs), managing changes to the project scope, and addressing any issues that arise.
5. Project Closure: This final phase involves completing all project activities, delivering the final product to the client, and conducting a post-project review to identify lessons learned and assess the project’s success.

Basic Terminology

These are some of the basic terminologies you’ll come across when we’re moving forward with this blog series.

• Scope: The boundaries of the project, defining what will and will not be included.
• Milestones: Key points or achievements in the project timeline.
• Deliverables: The tangible or intangible products or results that the project is expected to produce, like a final report or a completed website.
• Stakeholders: Individuals or groups with an interest in the project’s outcome, such as clients, team members, or investors.
• Risk Management: The process of identifying, analyzing, and responding to project risks, such as potential delays or budget overruns.
• Work Breakdown Structure (WBS): A hierarchical decomposition of the total scope of work to accomplish the project objectives and create the deliverables.
• Critical Path: The sequence of stages determining the minimum time needed for an operation.
• Change Management: The approach to transitioning individuals, teams, and organizations to a desired future state, effectively managing change to ensure project success.
• Quality Assurance (QA): The process of ensuring that the project’s deliverables meet the required standards and specifications.
• Resource Allocation: The process of assigning and managing assets in a manner that supports the project’s goals.
• Project Charter: A document that formally authorizes a project, outlining objectives, scope, stakeholders, and the roles and responsibilities of the project team.

In conclusion, Project management is essential for achieving specific goals within scope, time, and cost constraints. Defined by the PMBOK as a temporary endeavor to create a unique product, service, or result, projects differ from ongoing operations. Key components include initiation, planning, execution, monitoring and controlling, and closure. Balancing scope, time, and cost is critical. Understanding basic terms like milestones, deliverables, stakeholders, and risk management is crucial. Project management ensures timely, budget-friendly, and quality-compliant project completion. It enhances organizational skills for freelancers and professionals and optimizes resources for SMEs and startups.

Cheers to your success!

And hey, don’t forget to stay tuned with our blog! We’ll be diving into various topics on project management and tools in the upcoming stories. Follow along for insightful discussions and practical tips to elevate your project management game.