Category Archives: 1. Knowledge

What is Project Life cycle

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What is Project Life cycle
• In simple word : Is Collection of Project Phases
• Is collection of generally sequential and sometimes overlapping project phases whose name and number are determined by the management and control needs of the organization involved in the project , the nature of the project itself, and its area of application.

• Project phases are divisions within a project where extra control is needed to effectively manage the completion of a major deliverable.
• A project phase is not a Project Management Process Group

• The life cycle provides the basic framework for managing the project,
• Life cycle structure:
• Starting the project
• Organizing and preparing
• Carrying out the project work
• Closing the project

What is Program Management?

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What is Program Management?

• Program management is the centralized coordinated management of a program to achieve the program’s strategic benefits and objectives.
• In addition, themes to help ensure the successful accomplishment of the program. These themes are: benefits management, stakeholder management, and program governance.
• Good program management requires visionary, entrepreneurial, and motivational zeal, combined with sound management processes.

• Program Management focuses on the project interdependencies and helps to determine the optimal approach for managing them: ,
• Resolving resources constrain and/or conflicts that affect multiple projects within the system.

• Aligning organizational/ strategy direction that affects project and program goal & objective.

• Resolving issues and change management within a shared governance structure, not jut only administration or logistic or even financial only.

• The Relationship Between Program Management and Project Management:
• During a program’s life cycle, projects are initiated and the program manager oversees and
provides direction and guidance to the project managers.

• Program managers coordinate efforts between projects but do not manage them.

• the interactions between program and project domains tend to be cyclical. Information flows
from the program to the projects in the early phases (initiating and planning) and then flows
from the projects to the program in the later phases of executing, controlling and closing.

What is Oracle E Business Suite Projects

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What  is Oracle E Business Suite Projects

Oracle Projects consists of the following products:
• Oracle Project Costing
• Oracle Project Billing
• Oracle Project Resource Management
• Oracle Project Management
• Oracle Project Collaboration
• Oracle Project Intelligence
• Oracle Project Portfolio Analysis
The applications that make up the Oracle Projects suite work together to provide a
complete enterprise project management solution. They give you a flexible approach
to defining and managing your projects and the people, schedules, deliverables, and
finances associated with them.

The following sections provide detail information on each of these products:

Oracle Project Costing
• Provides an integrated cost management solution for all projects and activities within an enterprise. With Project Costing we can manage costs across currency and organizational boundaries.
• Project Costing also acts as a central repository of project plans and transactions, processes project costs, and creates corresponding accounting entries to satisfy corporate finance requirements.
• Project Costing gives complete and timely access to project performance information and the resulting accounting impacts thereof.
• Detailed cost information to monitor project performance in a productivity-enhancing format, and enables to track the total cost of running the business.
Oracle Project Billing
• Oracle Project Billing enables enterprises to simplify customer invoicing, streamline corporate cash flow, and measure the profitability of contract projects.
• Using configurable accounting rules, Oracle Project Billing extends Oracle Project Costing functionality by processing actual costs, creating corresponding accounting entries for revenue accrual to satisfy corporate finance requirements, and creating customer invoices for project work.
• With Project Billing, project managers can review project invoices online and analyze project profitability, and accounting managers can see the corporate impact of project work.

Oracle Project Resource Management
• Oracle Project Resource Management manages human resource deployment and capacity for project work.
• It enables efficient coordination of project resource needs, profitability, and organization utilization through the location and deployment of qualified resources to projects across the enterprise.
• Oracle Project Resource Management empowers key project stakeholders–such as project managers, resource managers, and staffing managers–to make better use of their single most critical asset: their people.
Oracle Project Management
• Successful project management requires continuous decision-making in order to meet expected delivery and financial targets.
• Oracle Project Management gives project managers the visibility and control they need to deliver projects successfully and operate efficiently.
• It presents project managers with a comprehensive integration of the major elements of project management: plans, progress, issues, changes, documents, effort and cost, financial information, performance, and status reports.
• With Oracle Project Management, project managers can proactively plan and forecast their projects, manage change and performance in real-time, focus on desired project outcomes rather than data management, and make better decisions with less effort.

Oracle Project Collaboration
• Oracle Project Collaboration assists members of global or virtual project teams in the ongoing effort to review and complete project tasks by enabling them to collaborate and communicate with ease.
• Project teams can also include people from inside and outside an enterprise — each requiring personalized access to project information.
• Oracle’s integrated, collaborative system enables all relevant project stakeholders to share information, anytime and anywhere. With complete visibility to assigned tasks, issues, and deliverables, team members work together more efficiently, make more effective decisions, and deliver superior results faster.

Oracle Project Intelligence
• Oracle Project Intelligence delivers aggregate and detail information about the projects in an enterprise directly to the people who need it.
• Executive managers can use Oracle Project Intelligence to review information summaries in both graphic and tabular formats and drill down to specific projects and tasks as necessary.
• Oracle Project Intelligence is a comprehensive reporting solution that provides cross-project visibility to opportunity bookings, resource utilization, and profitability and activity analysis. Utilizing secure, role-based portals, it provides daily summaries of key metrics including revenue, cost, margin, bookings, backlog, and utilization.
Oracle Project Portfolio Analysis
• Oracle Project Portfolio Analysis leverages the rich project management functionality
of Oracle Projects to facilitate evaluation and collection of projects in a portfolio.
• It uses financial criteria, strategic goals, and information on available funds to help us evaluate, prioritize, and select the right projects to match your business objectives.
• It enables to standardize project funding decisions based on business and financial objectives by defining weighted criteria and targets, such as return on investment, market fit, and technology risk.
• Project Portfolio Analysis provides graphic charts to compare and rank new and continuing projects. We can also create and compare multiple “what-if” scenarios to understand the impact of changes to projects and finances.

Project Success is Always Measured in Business Value,

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Project Success is Always Measured in Business Value,

‘If you build it, they will come’ But if you build it and it doesn’t provide value, they will soon leave!

We need to focus on the fact that the project is only as successful as the business value it adds to the organization.
 If we’re producing a something, the evaluation factors for “success” are clear. We need to use our project management skills to bring this product to market quicker so we can get it sold to a large portion of the customer base before the competition is able to produce a similar or even better product.
 Without connecting the project to the business need, great product could be a failure from the organization’s return on investment (ROI) point of view.
 Customer satisfaction includes in business need criteria.
Motivating teams and making difficult decisions on the spot become easier when we understand specifically how the completion of this project is intended to benefit the company.

In order for a project to be successful, the project team must:
 Select appropriate processes required to meet the project objectives,
 Use a defined approach that can be adopted to meet requirements,
 Comply with requirements to meet stakeholder needs and expectations, and
 Balance the competing demands of scope, time, cost, quality, resources, and risk to produce the specified product, service, or result.

What is Project?

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What is Project?

In PRINCE2 , a project is : A temporary organization that is created for the purpose of delivering one or more business products according to an agreed upon business case

In PMBOK , a project is : A Project is a temporary endeavor undertaken to create unique product, services or result.

Project Characteristic:
 Temporary nature of projects indicates a definite beginning and end.
 The end reached:
• When the project objectives have been achieved
• or when the project is terminated because its objectives will not or cannot met.
• Or when the need of project no longer exist
 The Project is a finite process !, not floating or never ending or regular or periodically or repetitive processes,
 A Operation definition : Permanent endeavor undertaken to create unique product, services or result.
 Temporary Does not mean short duration.
• Projects can be large or small and take a short or long time to complete.

 Unique : Every Project is unique. (Things are not always what they seem.— Phaedrus, Roman writer
and fabulist)
Deliverables Project is always unique, intangible or tangible
 Tangible could be phisically such as created factory, bridge, create software etc
 Intangible such as change culture or Learning Project Management Is could be a Project

 A Project comprises a number of activities that must be completed in some specified order, or sequence.
o To determine the sequence, it is helpful to think in terms of the following inputs and outputs:
 What is needed as input in order to begin working on this activity?
 What activities produce those deliverables as output?
 When you know what your dreams are, you know what your problems are.
o Project is A dream with a deadline
 Want to build new house?
 Want to start a new business?
 Want to new car?
o Each dream with a deadline or an opportunity we want to realize is a project. And that project defines the problems we face. And when we face those problems and solve them, that’s a project, too.
 The project must have goals with precisely described and activities to be carried out must be structured
 Project is Balancing the competing of constrains: Scope, Quality, Schedule, Budget, Resources,Risk
 Projects are managed using project management.
 Projects is cross functional: involve a team of people with different skills working together to introduce a change, often cross from functional dept within organization.