Project Engineering & Management

Why Project Engineering & Management is necessary?

As per the current situation, in the world of competition, engineering skill is not enough to stand out among engineers. To be a perfect engineer you have to learn skills like planning, managing, leadership, and many more. 

To get the idea of that skill and attributes, Project Engineering & Management is necessary. This teaches us how to plan a project, how to start it, how to execute, how to control, and how to complete it with the desired output.

What is Project?

A project can be considered to be any series of activities and tasks that:

• Have a specific objective to be completed within certain specifications
• Have defined start and end dates
• Have funding limits (if applicable)
• Consume human and nonhuman resources (i.e., money, people, equipment)
• Are multifunctional (i.e., cut across several functional lines) 

Project Management

Project management contains five major process groups:

1. Project initiation 
2. Project planning 
3. Project execution
4. Project monitoring and control 
5. Project closure  

Let's see what each process group contains:

1. Project initiation

• Selection of the best project given resource limits 
• Recognizing the benefits of the project
• Preparation of the documents to sanction the project
• Assigning of the project manager

2. Project planning

• Definition of the work requirements 
• Definition of the quality and quantity of work 
• Definition of the resources needed 
• Scheduling the activities 
• Evaluation of the various risks 

3. Project execution

• Negotiating for the project team members 
• Directing and managing the work 
• Working with the team members to help them improve 

4. Project monitoring & control

• Tracking progress 
• Comparing actual outcome to predicted outcome 
• Analyzing variances and impacts 
• Making adjustments 

5. Project closure

• Verifying that all of the work has been accomplished 
• Contractual closure of the contract 
• Financial closure of the charge numbers 
• Administrative closure of the paperwork

Successful project management can be defined as having achieved the project objectives:

• Within time 
• Within cost 
• At the desired performance/technology level 
• While utilizing the assigned resources effectively and efficiently 
• Accepted by the customer

Benefits of Project management

• Identification of functional responsibilities to ensure that all activities are accounted for, regardless of personnel turnover 
• Minimizing the need for continuous reporting 
• Identification of time limits for scheduling 
• Identification of a methodology for trade-off analysis 
• Measurement of accomplishment against plans
• Early identification of problems so that corrective action may follow 
• Improved estimating capability for future planning 
• Knowing when objectives cannot be met or will be exceeded

Obstacles of Project management

• Project complexity 
• Customer’s special requirements and scope changes 
• Organizational restructuring 
• Project risks 
• Changes in technology 
• Forward planning and pricing

For your better understanding here is a visual link: Project Management Training

Video Credit: PMC Lounge

 

So, that's it as an overview of project management.

Thanks & see you in the next one.