Project management for Beginners | Vishwesh | Skillshare

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Project management for Beginners

teacher avatar Vishwesh, Entrepreneur, Business Coach,T

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

21 Lessons (1h 11m)
    • 1. Introduction

    • 2. Why project management?

    • 3. What is project?

    • 4. Project VS Operation

    • 5. Where do Project come from?

    • 6. Classification of Project

    • 7. Project Constraints

    • 8. How do you define project success?

    • 9. Progressive ellaboration and Prototype

    • 10. Strategic Plan

    • 11. SMART goals

    • 12. Resource Optimality

    • 13. Project sponsor and Project charter

    • 14. Project manager and Deliverables

    • 15. Project team

    • 16. Project management office (PMO)

    • 17. Project Life Cycle

    • 18. 10 Stage Project Management processes

    • 19. Project Procurement

    • 20. Project stakeholder

    • 21. Stakeholder engagement model

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About This Class

Hello and welcome

In this course, I have covered the basics of project management. 

If you are someone who is new, who is just starting or interested in starting a career in project management, this is the course for you.

Topic Covered 

  • What is a project
  • Where do projects come from
  • Project constants
  • How do you define project success
  • What is Project Management
  • Program and portfolios
  • Project manager
  • Organizational¬†structure
  • Project Management office
  • project stakeholder
  • project management life cycle
  • project management processes




    Monitoring and controlling


Meet Your Teacher

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Entrepreneur, Business Coach,T


Vishwesh is an experienced business trainer and speaker. I did my engineering in elecrtical and electonics  from Galgotia college of engineering and technology. My goal is to create high quality courses that cover both the theory behind a topic as well as real-world applications. Should you have any questions regarding any of my courses, please feel free to contact me

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1. Introduction: Hello and welcome to this course. My name is Refresh. And today we're looking into the fundamental off project management. This is a gateway to the world off public management. If you are someone who is new, who is just starting or interested in starting off a carrier in project management, this is the situation for you. So what can you expect out of this long lasting session, Right. What can you expect? Why should you watch this session first thing? Like I said earlier, this is going to be your gateway to the world off project management. So we talk about a lot of basic or project has been. This is going to be an introduction session again. If you are already aware of the basics or project management and once you go to the nation's light initial portable system, you will already know the basics or project management. Then we are going to take a step ahead. We are going toe, are step deeper into the world of project management, and we will know some more stuff about project management, which will be much better than just the basics. So if you are into position has been if you're starting off your kedia in project management or if you're thinking in getting into the domain off project has been. Decision is differently going to help you. And another point is this is going to introduce you to the PM Pecos Fear No PMP. If you're not aware, it is the gold standard certification in the field of project management, it is offered by B M I that this project has been institute USC and B M P stands for project management professional. And if you have PMP certified, you can get the job off. Good presentment is been anywhere in the world. This is going to be the outline for the course. A lot of hard work has gone into medical sleep, designing the scores. Like I said earlier, a lot of work has gone just to ensue that recover first basics. Then we take step ahead. I'm so excited to bring you on this journey. Let's get started 2. Why project management?: welcome to this course. So project management is primarily a subject which is acquiring increasing significance over the years. There are two main reason for that. One is that a large amount of money have been invested into the possessed or the world. In fact, the investment into the project runs into billions of dollars, and these amounts are so hoping that it could be much more than the GDP up several small country to enter segments. Investment is one of the reason even Goldman invest Hughes the morning to the project and government also desire that officer who come to occupy key position in the government. They should have sound knowledge of project management. But these and other reason for the significance off this subject. And that is, according to one survey connected by P. M. I. That is presentment ISM institute, that more than 70% projects World war gets failed. That is, failure rate of project is very high, and being the case world over put it gets filled. If your project is not able to achieve its objective when it is near 82 days, failed project either partially or fully. But in any case, like In order to make police successful, we must know what are the peanuts and principle which go into making a successful for how they should be applied in project. So project management, his family will be the application off new concept, fundamental concept or project management in order to make them eventually successful. Okay, the first thing I will be talking What is that? PM I It is Project Management Institute. OK, it was said every 96 name. It is present Minusma Institute. OK. And in every four year am I comes out with a guide which is called Les BMB. Okay, okay, it's full form. Is project management body off knowledge? You can assume it just like a bible of project transplant. OK, as I said every four years being my publishes This guy, the first Radiation Open book was published in 1996. No wiping book. It's so important to us for the simple isn't that the World War being broke serve as a reference book or reference guide for not only practice now, but also for academician and also for those who are interested in acquiring the knowledge of opposite management. And there's an ETA reason for its importance. That be my conducts an examination in the world. A world that is called BMP examination that is project management, professional examination. It has certain prequalification. Once you a PMP certified, then you are visible to get a job off. Good politic, Melissa. Anywhere in the world, OK? 3. What is project?: no word is sporting. Let's see the definition. Okay. This definition is given by B. M I Notice project Mannesmann Institute. It says that ah project is a temporary endeavour undertaken to create a unique product service or result. So here one work, um temporary, Which means time born, ok and indeed governments a fault. Okay. And unique means something no other parallel or something entirely new. For example, you see a great prom it off. Is it OK and great wall of China these massive structure on my less sticky structure? These will the project in their time. Although that time the knowledge of project management was not so widespread. But essentially the principle of project management were practised by those people. But we can make out that there must have been a complete, comprehensive and meticulous that circulation off that idea. There must have been centralized planning. Without that, it could have never been possible. It means that practice of polygamy resident principle, it's an old listing. We have been practicing present Mannesmann for a long time. Okay, I agree. Project management subject is new, but the practice of project management is not a new concept. We have had the knowledge off project management for a long time. So all this project not only in the US, India, China they could have never been possible without the knowledge off the principle of project not looks comfortable definition unique. Every project is unique and every project is time won't mince temporarily any activity which is unique and first time you are doing. And it is time bone del it'sa Predict whether you're starting a business whether you starting a business, developing a software, constructing a road or making a five star hotel or even you're making your own house. These are all present because you're creating for the first time, right? They're all project, they are unique and time bone and every public has to be completed in a certain time. So when we understand project, every project has these characteristics that is posits are unique and they're temporary. If in any endeavor, any other two component is not there, then it is not covered in the professional project that will be called not a predict Butta cause I project the meaning of course eyes half so caution can be ox. What is cause I present because I present is one in which either one or many goals or projects are not clear and one which does not satisfy the basic drink characteristics off the project. So because I project means it has a characteristic or project to some extent, but not all character sticks, it should have these drink statistics, okay? 4. Project VS Operation: So in the last lecture we saw what is project. Okay, so in this lecture we will see the difference between possession Operation Park. The posit means any endeavor, as we saw in deflation, which brings about a change which is unique, which a certain different goal and which is time on. And if there is repetitiveness and continuity in that, then it is called operation not present. Let's see one example. Let's suppose you have conceptualized to make a plastic try some new design you have in your mind the fasting. What you will do is whatever plastic designed you have in your mind. You will developer design that is called product imaginary. But design itself is not sufficient. You have to manufacture it also. So for manufacturing, you will have to make a mold to which you can ableto meant for each other. Toy, isn't it? And the mold which you will make it will be as part of a design that is called production engineering. And when bored, the things designing as well as mold basically, mold means we are creating a facility for the production. Okay, That is why we are making the mold and render both things design As villas mold gets ready , you can start your production using the raw materials, right? So there are three aspects. The first is protecting unit and then production in Yining production and union was greeting facility for the production off Oy! And once the product engineering and production engineering is done, we start production. The 1st 2 states are called Project and the last days is called Operation not let us understand some technology with the diagram, because question can be asked like identical replication. Property belongs to work, so we should knew what is there. So let us understand with her diagram when we perform a walk, then it has to possible consequences. Either it will bring about a change already to be just an are going exercise or process. If it brings about a change, we call it a project or, if it is, an ongoing size or routine matter will call operation. If it is a project that it will have to character stick, it will be unique and temporary, or if it is a non presentment, it is operation, but it will be repetitive and continuous if it is a unique that it means it is good for the first time and if it is temporary, that it means it has different big nick and different end. And if it is the repetitive that it means it will lead to what is known as identical replication, if it is continuous and it really either nonstop or permanent. So these are the standard technology which we follow for the project in operation. So if in exam question is asked, identical replication belongs to protect or oppression. Look uneasily Answer that are identical Replication is the property off operation knowledge to see some example of project in operation to set up a factory is a project and was the factory set of we start put producing goods. This comes under operation because producing goods is a repetitive work. For example, we were producing same same toy every day because it is a repetitively process. So it comes a note operation Construction of irrigation dam is a project because we're constructing in a new environment. New in a new challenge, we're creating it there for the first time. Then supplying water from the irrigation dam is there is comes under operation installation off new software on a computer system is a project. Using that software is an operation construction of road highway. He's a project then using and maintaining the highway is an operation development off new variety off rice seeds. That is a project harvesting rice crops that is, an operation expansion off cells into new territory is a project. Selling in that territory is an operation setting up a Carmen infection plant isn't project manufacturing. The car is a operation because we're manufacturing the same car every day that comes under operation because these are replicated property in that. So this was all about the difference between project in operation. See you in the next lecture. 5. Where do Project come from?: So where do the project come from? How do we come up with the project? That's a good question. That's a good place to start. So if there is a new king in the technology or the new technology has come up right then put it May must from when GPS came to the move. Oil phones There were lots of project lots off APP did that were developed to make use off the GPS, so new technology brought new projects than competitive force. If you were in the market and there are forced in your competition off course, you may have to come up with a new project to stay ahead off the competition. Then material issue right. You might be using certain material for certain projects, which are no longer used than political changes. Market demand Economics genius Are all geniuses rated? Do all side off your office. The real world changes right then. Customer request. If a customer wants something, well, you have to deliver. It's too cold or demon legal requirement so something it could be legal issue with your you know, with your product or anything that you offer, and that may you know, you may have toe come up with new project to deal with those legal requirement. For example, that comes to mind that Samson note phone. Which kind of blasting with the customer, right? I'm not sure what phone was dead. Was that not or something, but yeah. So that phony started blasting and customers started reporting it. News media started covering it so legally, you cannot sell a phone. That is, that is a potential bomb. So you have to come up with a new project. And that put it was how you're going to deal with media, how you are going to deal the customer, how you are going to phase out those phone so that you kind off stuff manufacturing off those phone. But how you deal with all of this, that is a potential present. A legal requirement has lead to that project. Then business process, improvement, strategy, opportunity, business needs, social needs. Environmental consideration also lead to new projects. So these are some of the avenues some of the pointer that you know are basically initiating project. These are some pointer that give birth to present 6. Classification of Project: to see the classification of president. We also call it exo Normie Off projects. Okay, so there are five years by which we can classify the project. The 1st 1 is according to nature Off work Redivide put it in two parts industrial put it and known industrial project in the street. Projects are product oriented and known Industrial projects are service oriented. Now let us draw table OK, we will see. We will get more clarity in the difference between industrial and non industrial project. OK, so as as I said in the street project is productive Rangers and known industry lease service oriented OK like to see the example setting up a super mill will come on. Will commander product oriented, looking again to establish a petrochemical refinery, is also product oriented project creation off facilities for the manufacturing off airplane is also product oriented design and development off multi multi task rowboat is also a product oriented then banking present. It comes under service oriented banks provide service to us. Okay then educational projects is also said. We sort injured social service project. Even my husband projects is also service oriented. Sales and marketing projects are also service oriented I D projects and then military and aerospace project. Basically, it is a different service. Okay? It is also a severance oriented project. OK, No, second classification is based on the duration of projects. So according to duration, first is long term projects. So according to duration, the 1st 1 is long duration project That is more than five year duration. Okay, then the median duration put it. That is true to five year duration than the short duration. It is 123 year duration. OK, it takes 1 to 3 years and then finally special short duration project, that is, it takes one year less than one year. Okay, then that hurt classifications Based on the value of project, OK, first is mega value projects in which the investment is more than $10 million and the second is large value projects whose investment is in between 3 to $10 million then median value bullets in which the investment is 1 to $3 million. Then the small little project less than $1 million. Okay, not afford classification is based on a piece off. Work means speed off work according to the pace of work. We have two types off project that is normal track and fostering normal tracks are the project, which gets completed in normal time or in a given time. Fast track projects, which can be completed in less time or fast Rick Okay, means they can be fast tracked if needed, depending on the embers and need by some amendment in planning or in any way, no for strict protector for the classified in today that his 1st 1 is crashing in for striking. Okay, no far striking. Supposing any university four buildings are to be made for the East building cost 100 and one after the other. The buildings are to be made. The first building will remain, then second and third and then fourth. If each building takes one year, the total duration of project will be four years. Because four buildings are there. When we make four buildings, barely, then the project will get completed in one year. This is called fast tracking. No, let us see the definition of fart. Striking for striking means to carry your activities off a project badly or concurrently, to reduce the project completion time without changing their resources. We're nor changing changing the resources? No. Also, we are making this each building in 100 k Same amount of material. The material which would have been using for years, were using in one year. Simple. As simple as that sort. Material is constant. There's no genuine resources. All we're doing is instead of going one by one, we're doing simultaneously. No, there is one more mattered by which we can compress the project completion time. What we do is if in each building, we make resources four times like worker four times supervisor four times and some everyone's equipment, which makes the process faster. For examples, support a building. Walls dry in four days with the help of advanced equipment. It can get drying one day so we can employ extra dryer. So my point is, if you make resources four times and then each building will get ready in three months instead of one year. So for four building it will get completed in one year. This is called crashing, so let's see the definition off question, clashing with reducing the project completion time by increasing or multiplying their resources as simplistic. So this was a difference between crashing and fast tracking not afford. Classification is based on ownership. Business ownership projects are classified into four groups. The first is public sector project. Second is private sector, then Tardis drying sector and the forties Gorman Center Bullets. Public sector Projects. Our Own My public or government, for example. Education, gas and oil industries. Emergency services. Healthcare like law enforcement. These are example. Off public sector projects. What is the meaning off ownership Supposed management ownership is provided to those company or enterprise or government whose shareholding is more than 51%. Supposing any company, you have a share more than 51%. So you are the owner of that company. You can take decision in that company, but that is the meaning of ownership. So in public sector project, Goldman shares share is more than 51%. Okay, No, no. 2nd 1 is private sector projects which are owned by private, individual or private organization. Example. Like Microsoft projects, General Motor projects, apple projects. Okay, this is an example of private sector projects. Not a target is drying sector. Perhaps they are jointly owned by government and private party or private operation, and the last three Goverments, doctor put its These are owned by Goldman. This production completely severest oriented. For example, supposed days. A project in which government wants to give fertilizer at a subsidized rate through a former Okay, this comes under service oriented, no public sector production, also owned by Goldman. But but in that pose, EPS share can be bought by public. But in case or government sector project share is not available in the market. You cannot purchase the share okay in government sector projects, there's no link is with the market. Goldman Sachs Republics are also on my comment or public, but they do not have any link with the market because their service oriented pull it. That is as simple as that. So this was all about the classification of project suing the Lexx lecture. 7. Project Constraints: I wanted to see what what are the characteristics or project? Not a very first characteristics or protective that the project is performed by the people to bring about the change. It is very obvious. Okay, straightforward. Not a second characteristics is that products are created to produce the intended results. Okay. And the toadies, the activities over projects are that the projects are carried out on the various constants . A lot of questions can be axed water, the triple constants water the various constants applicable to a project. So the project constants have three. Moral. The very first model is called classical Project Management triangle. According to this, every put it has got its three constant. First is a scoop. Second is cost and the Tardis time we call them triple constants. That is school cost and time, and the result is quality. If you assume this as a paper triangle, if we pinch any off the corner that other to corner gets affected and called you also gets affected. So they are all interdependent perfectly. School means what we want to make. We defined it exactly. It's called school in how much time you want to make. We call it. Sure, you'll or time, period. And what is the budget? How much budget is allotted to it? Digital mine It okay, Remind the cost. After that, we get the result in quality. No, The second mortal is called her diamond constants. Okay, second, mortal is called Diamond Constant model Damn in Mortal says that in project not only three but four constants are there like scoop, time, cost and quality. You can see that quality is one off the constants here and result in this expectation year not at her moral is called sextuple mortal. Okay, 66 departments. Six. It is also called six constant model. No. According to this model, there are six constant which are constantly working on a project First of the scope, then time Tardis cost and the fourth is quality and the 50 the sources and sixties project risk. So these are six constructs which are constantly applicable to approach it and the resultant off This six constant is project objectives, because whatever project we perform, these certain risk associate it with it and the sources are also required in order to complete the present. Their risk and sources are also included in order to achieve the project objectives 8. How do you define project success?: So how do you define a project? Success? Not if you have delivered a project. If you are done with a construction that you were talking about, how do you know that the protective delivered was a successful project or not? So we just talked about Constant. And those are the some areas that define success off a present as well. So the number one is going to issue. Do you need to continually It will. Radio progress as you go as a presentment is er you need to make sure that there should you'll. You have supposed six months construction project. You need to make sure that to continually check with the project team after one month. What are you What is your progress? Will we be able to finish the remaining task in the remaining five months? At the end of second month, you need to go ahead and check with the protective again. Where do we stand? Will be ableto complete the project in next four months. So this is something that you as a project manager I need to do. And you need to work out the slippages in a timely manner. If you supposed to have completed a certain part of the construction project by the end off three months, but you are not able to do so. The hard you handle those slippages that again is a part and job up off project manager, for example, or is no deadline for my two friends. One was March 2010 Ban Louisa Place in India or is the deadline for Bangla Metro? Face one WAAS. March 2010. After missing nine subsequent publicly announced deadlines, the fears one matter was finally open to public in October 2000 and 11. So you can see that days er delay. It was supposed to completed in 2010 but it was completed in 2011. So should you lose something which is very important, and it defined the success off field project if you are delivering your position on should you, that it is quite possible that you can say that your present will successful project. But delivering the project on show you is that the only way you define us a fistful protect off course not. There are four more. Let's look at our second is going to be the cost and I would agree with you. If you look at this point and say, Well, this should be actually rank one in the in the list to help with the should do What about the cost, right? What about our dollars were all about the money and of course it could rang. Actually first in the list. How do you hold and control cost is you evaluate Just is true. Do you need to a village the amount that your project has already spent? You need to do that in a timely manner You can also look forward, Andriy four cost toe compare Ritter or is nobody? So let's say that that should you Almost six months for the construction project that we were talking about in the previous life. Let's say the school for the sake off simplicity. Let's say the cost that you had forecast in the beginning off the project was $60,000. So at the end off three months, you should be ideally at 30,000 U. S. Dollars, right? And of course, this is just for the sake of simplicity. Collects at the month off. Three months. If you have already spent 40,000 U. S. Dollars and you are left with three months with $20,000. Then you need to do a the forecast and you need to compare that with the original butter and you need to make sure that your project falls in place or we need to make sure that the extra funds are arranged. But at the first place you need to so that you don't waste money. You don't spend more than you are supposed to cost over. Then he's going to fettle your project. Mark my words on there, so let's take example. In 2006 current three kilometre bang Lord Metro Phase one work had a baseline cost off 6395 corrode in Indian rupees, which means 63.95 billion in indelible due to really an extension on Metro walk to 42.3 kilometre. The final cost off phase one work came out to be 14,000 and 405 crore in in European. So here is something important to know that there is no scope of the project. Waas title three kilometre right. The construction wants to be done for today three kilometer. But later that scope Waas changed its course change to 42.3 kilometre. Change off almost a little less than 10 kilometer. But just look at the cost that has changed. 66,395 crores to the final cost off 14,400 and five crew. So this project basically had a major case off cost overrun. But this also had a change in its scope. But if you see the cost has actually changed, it is now costing more than twice the original budget with a change off just less than 10 kilometers. So we cannot say it was a fully successful party. Okay, no number three quality without a guest. If you recall the constant model we talked about, cost is here, should you'll easier and now qualities also here. These three defined whether your present wants success or not Again, there are two more factors that defined, which we will look into after this light so quality hard. You maintain quality for your present. I can just like cost, just like should you call it is something which you need to reroute timely and at the end of each project phase as well. So what is Project faith? This is something we will be discussing later on this sister. Keep that in mind. Let's spark that aside for now, but understand the fact that you need to review as a present. Mariza. You need to review the quality. Timely know how do you review the quality that is rare Quality standard. Come into picture, right? You know, six months project for construction, right? You need to have a quality standard with you. You need to understand what is the quality standard for a two months old project. Right? Let's make another example for the sake off simplicity. Let's try to understand from the perspective of Web development present, let's say you are creating a website. Ah, well defined quality standard would mean that home based should lord in a 20.5 seconds. First thing is this is a very well defined quality standard that the project minister and President team is aware off and they should be working towards achieving this quality standard. And second thing is it should be accessible. The quality standards which are defined by the end customer and by the positive sponsor, whoever has designed or defined the quality standards this is standard should be easily accessible by the positive. It should not be locked of it somewhere on another country where protective cannot reach out for it, right. This should be easily accessible. Know some example here is the food is not good here that the movies were reporting. This four is really bad. If you see the quality standards in this example are not well defined, not good. What do you mean by not good? What is the definition off good Similarly movies boarding. How boring is it? What is the definition of boarding you call a movie boarding? It may be boring for one, but it could not be boring for another person. Right? So call The standards are very subjective in this example. And this should be really find these quality standards are not well defined. The fort is really bad. This is something very personal. You miss say that windows phones are very bad. I made tends to think the opposite. I'm I feel when those phones are really good. So we need to define the quality standard. And that is why I call it is important. That is where quality should be reviewed timely and standards should be defined. This is an important factor. Toe. Determine whether you're possessed for successful or not known. The next factories. Stakeholder satisfaction. No, I have a separate section on the stakeholder as well. This is one of the important topping for being people operation as well. So I have taken a brief session itself. So we will talk about a stakeholder in further detail as well later on in this session. But this is also something which is, but this is also something which defines how successful your opposite wars. So you may see a lot off survey in your daily life, right? Facebook puts out survey or let's say you're employed. Puts out a survey or let's say your political party or Goldman puts art history. They are all there for a reason. Did just like all previous light when we did a timely check on should do with really time that you can cost. We did damage on quality. Surgery is also time reject, with the stakeholder level of satisfaction so even qualitative, checked during the course of project is worth it. Is there instead off somehow working through the project and completing it, with only project manager being happy while you were while you were working on that six month construction project at the end off two months or at the at the end of three months, your present team are the person who is paying for that project and arts. Their feedback even It is qualitative, right? You don't have toe asked them to give you marks out of 10 on 10 different topics. You don't have to do that. Even qualitative check is everything good or is everything nor good ordered objects like those are also going to help you. Make sure that stakeholders are satisfied with your project. Finally, last point is assignment to business case, so there's a business case for every project a project needs to make business sense. And what is project sense that the posit is going to make is written in the business gets document. So how aligned was your project to read Business case document cost should do quality are just one part off the opposite DiDio present meet the original benefit it set out for, and this benefit are defined in the business case document. So do the problem that led to project being conceived. It still exist. Are you working on something nobody wants. So that six months construction project that we were talking about was actually a house being built for someone who was paying for it. But we came to know that at the end off four month that the person paying for the construction off house is actually moving towards different country permanently. Do that. Do that mean he wants that house? No, may not be. Maybe the problem that the president was going to solve has not even existing anymore at that time for you as a present. Melissa, you need to do a check on this as well, Whether you posit is still a lying to the business case or not. What if people find shared cap? A better, more convenient and cheaper alternative to Metro If you are the presentment is a working on bang Lord Metro, and you find within the course off delivering your project that the people are finding shared cap as a better and more convenient and even cheaper alternative to Metro. Are you going to still go ahead and deliver the bag Lord Metro that you had promised that you were working on may be or may not be because the original business case, the original problem that the matter was going to solve has already built has already been sold. So these were the five factor that define after you were done video project, and this five factor defined whether you pose it was a success or not. 9. Progressive ellaboration and Prototype: so the next character sticks or project is a progressive elaboration. Okay, let's understand this whenever we develop a plan for any project and it is not always possible to decide all the activities in detail in advance. Even if you decide, then also, when project progresses, Emerson situation changes. And due to the change off situation, we will have to make changes in the plan and our plan will actually become more detailed and better. It is not easy for distant future activity to estimate its duration cost in detail, so we make a sketchy plan for nearby our immediate preacher activities. We can estimate the details for the project. We can estimate the details for them, but for far off activities. We cannot incorporate complete details. But as the project progresses or execute according to plan, they will get more authentic information and more accurate estimates. In this way, our plans get better, and eventually the politically perform will be the result off progressive elaboration. Let's see the definition. So the definition, says the progressive elaboration, is a planning approach in which the project plan become more detailed and elaborate as we proceed to execute the plan and start getting mawr or tent information and more accurate estimates. That is what I explain. OK, no. The pain book that is BMB Yuki predict men has been body of knowledge medicines. One more type of progressive we'll operation called proto Typing. So prototyping is a project management process in which, based on project concepts and political search riddle of several working moral all product types off the intendant product and test them under several life condition to select one off them on which present is developed. For example, you want to make a hybrid car or a car which can move on land as well as can fly and can float in water as well. I'm in multiple Decca, so you will contact experts. You'll share our idea. They will start research and experiment, and they will come up with a various prototypes and one of the prototype get selected and on which the project is develop. Okay, so this is what the prototyping is. Okay, 10. Strategic Plan: not the next character sticks off project is strategic plan projects are the results off strategic plan off the cooperate or the company? Static plan is developed by taking input from various sources to satisfy the static goal off the organization. So the question can be asked, What are the various sources of a strategic plan? So there are six sources off strategic plan and the major sources that police called technological advancement. As the technology progresses, corporate the tap into that technology, they conceptualize new areas, and they integrate those ideas into their strategic plan and come up with a lot of new products. Let us take example. Let's say, in the field of computer, earlier supercomputer size were very big, not the size of computer. Have Shinto really small size with more power. This is amazing technological advancement. So whatever technological advancement happened, corporate integrate that advancement into the stairs. It plan, and they come out with a revolutionary product and the second important sources market demon. Let's see example, when malware like viruses grows on horses when they started attacking the computer system, then there was a dire necessity, and it becomes ready as a new that somebody maker anti virus software it become a market demand. People's computers started crashing one by one, that many antivirus company securities companies started making. Anti wear software would. Always your computer mobile cannot work because of lot off malware available in the market . Then what they do is the demand gets included into their studies. It plan, and they come up with a particular entities that are important specters, corporate own requirement. Cooperate one their cells. Corporate warn their cells to be double or triple or multiply their cells. So in order to multiply their cells, new technology has to be injected. And for new technology, big project has to be launched and will have to include this in their strategic plan. So corporate own requirement is a big factor. Is every companies in the competitive environment and in competitive environment. In order to survive, you will have to come up with innovative areas and new technology, so this become the cooperated own requirement for this will have to be included in strategic plan. After that customer request. It is a big factor in the contribution to strategic plan solution which gives customer are processed by the company and Accordingly we make a strategic plants and then there's a legal requirement, for example, then just introduced means good and services tax. So all company had to make their system justic compliant compulsorily. It was a legal requirement because it was it became a rule. So you cannot do new things with old system. You will have to upgrade. Okay, so you will have to include that in your strategic plan. Next and the last is cooperate. Research corporate have their own search and on the basis off their research, they come up with innovative and good ideas, better ideas, more sustainable ideas, viable ideas. You can see how fierce competition is there in the mobile market laptop market. So cooperated Search is really important for this competitive environment. So accordingly we make a start. Is it plants? 11. SMART goals: so more than projects Heavy, smart goals. OK, let's see the meaning off. Smart. What does it mean? Okay, as represent our space trick. Okay? Project should be specific. M eminence miserable. Okay. And a means attainable and our means to live in position. We live in and de de de present time only Look so projects have goals and the mortar projects have smart girls without a goal. The project is not a project. So what do you want to achieve? Unless you don't know what you want to achieve? How will you achieve it? What do you want to make a fire? This total or three startle 1000 types of waters are there what type you want? Oh, you want toe hotel with 100 rooms? 100 rooms based mince words. Hundreds rooms can be made in various ways. What all do you want? What facility you want complete will ask you such questions to sponsor it? Many of the sponsor have money. They want to make projects. They don't know how. Because of that many project gets failed because of this. His points of blindly in West Germany, they started into dealing tick All the market information that didn't take completar information. They didn't do physically study with no prison. And they start the project. And then Mr 1,000,002 million, five million. And in future, they came to know that the product you are making is already better available in the market with more features. And you already invested a lot of money and nobody's taking over there. So this is a big problem. So knowledge of project management for any sponsor is very important. And everything is perfect, which you want undertaking for the first time is the present Okay? So more than project heavy, smart girls, smart man, specific, measurable, attainable 11 and Time Warner looking. 12. Resource Optimality: so the next characteristics off project is resource optimum ality. Okay, so it is a condition in which the optimum until additional project resources to maximise productivity means in order to maximize the productivity. How should we properly realize the resources that is called opt immunity condition? Okay, Next, more than protect a highly complex this is now and increasingly or corrective steps off more than projects that they're highly complex. There are two main reason for holly compass. First is new. New fields are being generated. New types of materials having invented because of this larger interrogation is made. Second reason is new subject knowledge This integration also necessary in it into resident . It is not possible to make project with only civil engineering knowledge. You need to have knowledge off mechanical engineer computer science in gentleman's idee. You need to have a knowledge off application water. That type of different APs and how they're processing is done. So you need to have a knowledge off. Man has been filled. Also, Project manager should have multiple dimension knowledge because of this, lot of complexities have come in the project. That is why there's a principle with the help of which, in spite of which predict complexity, resignations should not lose the site or project objective. And that principle is kiss principle, Not That s okay. It is. Keep it simple. Stupid. Okay. Next. All projects are customer oriented. Even the Goldman take care of customer orientation. And, of course, private sector compulsorily customer oriented. Because if you don't make custom oriented poorer than customer real Nordby. So cooperation do every possible effort to know the customer needs. They do a lot off surreal. They do a lot of economics analysis. They do opinions, pours every possible it for to make to find out what is the requirement off customer. And the last characteristic is that is more than projects use interdisciplinary approach and cross functional team. As I said, interdisciplinary approach have become complicity. We combine various full knowledge to achieve project objective cross function. Timmons, expert from different function work as a team to achieve the objective. Okay, so these were some corrective sticks off projects. Okay, 13. Project sponsor and Project charter: only to see water The elements off project Okay, The first element of the particulars Project sponsor. Okay, sometimes called Klein and sometimes customer. Also, the person or organization who funds the project is called Project Response. He's the key person behind the project. Hey, develops the business case for the project. He also developed the Project Charter and approves it. Sometimes the writing off public charter is delegated to possess Melissa. But even in that case, Charter should be approved by project Sponsor her towards come Business case and and project charter there to see what over there. No business case. It is a justification for the launch off new product. OK, a business case includes financial analysis off potential benefits from the project. Okay, in order to see what is present charter. It is the first official document which declares the existence off project put. A charter is developed by political sponsor and sometimes jointly developed by public sponsor and Melissa, but eventually approved by Project sponsor. No water. The Contents Off Project Charter legacy. It contains aims and objective of the projects Scope a project, the methodology to develop the project. It also includes ah, high level should you'll and budget off the project. It includes Egyptian and constraints applicable to the projects. It includes the details off project sponsor and project manager. It includes Cooperate requirement, customer requirement or you can say beneficiary equipment and also stakeholders list. Now who is stakeholder? So remember that ah person, group or organization that has interest or concern in the project is a strict order. His stakeholder can't effect all be affected by the project objectives and policy. For example, Project Manager is also stakeholder okay, because public money can affect the project. Okay, Project management and also the employees off the project are also stakeholder bank because bank provides loans and financial help to the project. Bank is also stakeholder, so stakeholder can be anyone a group, organization or person that has interest or concern in project work. According to OPM UK Okay, pin book that this project management body of knowledge put it. Charter is like a contract between the Pulitzer sponsor and project manager to jointly work and achieved opposite objective and also it authorizes project manager to use the company resources. Okay, 14. Project manager and Deliverables: no. The next important element off project is project Manager. Okay, Opposite his plan should you'll executed and close by presentment iza with help off protective. He's a single point responsibility centre responsible to produce all the project deliverables in given time and budget toe handle to the sponsor. No hear one word comes deliverables. OK there to see the definition on this it is any 10 10 visible or intangible goods or services as a as a component off our project outcome to be handed over to the sponsor tens women's any anything which is in the physical form. Okay, it is that is the meaning off tangible. In order to see example, a document can be a The liberals are report can bear The liberals are mortification in the software can were deliverables electrical system off a building can be delivers the electrical system off a building can be are the liberals plum big system for building is also our deliverables Masonry work off a building is also the liberals Okay, let us understand with examples Harvey and identified er deliverables Ok Suppose you want a presentment. You have been given a project to make a school building the first thing you will do is will prepare a mercenary structure as the creation foundation. Brick walls moving, etcetera. So this is one off the deliverables off the project. After that, it's carpentry work, windows and doors is another delivers after that electrical work secretary is another delivers. Tennis Air condition system is also one of the day liberals. Ceiling work is another deliverables. After that is finishing off the wall, then all your system in the classroom. They're also durables. These are the various durables. Suppose you made a school, but you did not make up limbic system. Don't tell me whether is the whether the sponsor will accept the project differently? No. Therefore, each deliverables is equally important in present. With that, you make Kendall deliverables or 100 delivers or 1000 after indicating all the rivers push gets completed and handed over to the sponsor, so you can say project is a collection or integration off all day liberals. Okay, public management is nothing but management off deliverables, right? 15. Project team: not. The next elemental project is a project team. Okay, A project is administered by the project team, which is headed by Project Manager. Okay, Passaic Team is a combination off various experts and manager necessary to achieve the project objectives. Now we'll make a team off software development project. From that, you will get the idea. What? The members off protect him off a software development. Be like, OK, at the apex. We have a project manager. Okay, then under him, we have a system architect that under him, we have development engineer. Then I know him. We have a test in junior. Okay, then under the project Minutes, a rehab. Put it controller Under him, we have a project administrator that under him, we ever support service manager. Okay. So we can make out here that under project. We have a system architect who actually developed the design of the system. The architecture of the system, what is going to a system like? OK. And then based on that design, that architecture the development engineer really do courting okay, according will be done in some highly with language like java a C plus plus six spectra, then test engineer will test whether the courting has been adequately done. Whether it is producing the expected result or not, all will be done by testing union. Then present Controller will control the funds off the project. Okay. Sponsor will pass on the phone to the project manager. Project manager will pass on to the controller. And if anybody wants, the fun will have to apply to protect controller. OK? And if his requirement is genuine, he will order it and then pass it. Then contract administrator, okay. Or project administrator. Work is to ensue that every close off the project is complied with, and all terms and conditional contracts are set. His fight, then support and service monitor will provide support service to the entire team so that it is able to achieve its goal. Right. So this is what the software development team looks like. Okay. 16. Project management office (PMO): So next element of the project is that is project Management Office that is also called BMO . So what is it? It is an organization within the fold of business enterprise responsible for documentation , training or IT standards and educating the project minutes about the goal and objective of the project. Basically, Project Management Office, that is BMO works on the behalf Off Higher management and also Mender Project manager means educating project Melissa and also trained Passaic Team provide Stander What postseason Aren't we followed? Okay, Deployed It brought house standards to be followed. It tells what type of documents is to be made in project. So basically PM Eloisa depository off all documents it conducts ordered off the project So these are the various function off bmo No in larger cooperation there are many PMO because bigger corporation have many projects simultaneously goes on and they have project within the within the country and outside the country so they cannot be controlled by a single PMO . Therefore, in those organizations, there are many people most and these Podemos works are controlled by e. P. M. Model is Enterprise Project Management Office OK, so he PMO is a higher organized organization, then BMO So under ppm, Montel is Enterprise Product Management office There there are several PM Most okay, so question can be asked, What did he pay? More? So you can see that in larger corporation there are several project management offices which are controlled and coordinated by Enterprise Project Management Office according to strategy goal of the organization. Okay, as as simple as that. 17. Project Life Cycle: Let's see the next element of project that is a project life cycle. So sequence off project phases from initiation toe closing used as a project management technique to give all the project. It is called Project Life Cycle. No, from the perspective of present minister there. Five phases in the project life cycle that is. 1st 1 is initiation, then planning next execution, then monitoring and controlling, then in closing. OK. But in actual reality, bruzek management faces are not sequences like this. There's a twist. What is that? To understand how, exactly the practice off present Mannesmann happens in Project Life Cycle. Let's draw a diagram there to see from the diagram first his initiation. Then we have planning and after planning, we have execution. Then we have a more intriguing controlling and then closing. Actually, what happened is when project is initiated. Relied the charter, repair the stick or the list. Then we develop a sick plan and based on that project plan, re execute the project. Okay, and salmon, seriously, we do more intrigue and controlling. Okay? There's no gap between executing and monitoring and controlling. They're simultaneously carried out. Okay, so implant, redo, monitoring and controlling. If there's any division in the plan, re media take corrective action and we change our plan and then we implement and execute er Jane to plan. Okay, if there's any any division in process. Basically, we modified the plan. If there is any deviation as the processes go on Okay. So we can say that in planning execution and monitoring and controlling, we can see a days a cycle which is going on that is this plan Do jik act okay, Peas for plan. These four do seems for check and is for act. Okay, there's a cycle which is going on plan Do check act This cycle is called So this is a pdc a cycle. Okay, which is constantly going on so in combine. This is a perfect mannesmann process. Okay, basically I p e c c initiation planning, execution, monitoring and controlling and losing. Somebody asked what his project management process So project millions process nothing, but I pcc cycle. Okay, so we saw Pretty said Really see a cycle that this plan do check Act. This is also called daming cycle. Okay, this was given by the first given by Daming. Okay. No, I p E C C, which is initiation, planning, execution, controlling and closing. This is a project management cycle, but this is the basic difference between daming cycle and project Management cycle. So we can say that PDC a cycle that is David Demming cycle is the hard off project management process, okay? 18. 10 Stage Project Management processes: So in the previous lecture, we saw five. He stays Project Life cycle. Okay. In which we saw initiation planning, execution than monitoring and controlling and then closing. Okay. And we understood all the dimension off there. Okay, No tennis stays present. Life cycle is necessary to understand. Okay. It will give you deeper inside off project management. Okay, so now, in the very first phase, or foster strays, that is corporate reason. So cooperate reason means its long term aim off the corporate. Okay, It's long term in basically corporate reason. Decide the philosophy off, corporate or company. It decide they're working culture. That what? Actually that corporate wants. Okay. For example, you very well know the punch line off LG. Okay, That is life. Life is good. They want to bring the smile to the face off people. It is their larger reason. Okay. It's a long term aim. They want to make gadgets which will make you life more comfortable. Right? So this is reason according to reason, whatever is possible, they are doing correct. So reason decided, working philosophy and working culture. Okay. And second is corporate requirement. You need to understand one thing. It is not enough to have a reason. You have to develop your specific requirements. The fulfilled. That reason you should know exactly where you should invest your money. Which field is likely to be more successful for you? Okay, no days. There are diverse number of feel. You have lots of money as a corporate. Okay, Multinational Corporates have lots of money they're having almost unlimited. So they have to decide that in which feel they should have their focus on Okay, with a software development will be better for them. All biotechnology or robotics will be better for them, or space aviation will be better for them. So so many areas are there. In which Phil, you want to go? Who will decide? This is the most important expect for any multinational organization to decide which field they should go for. Because once you made a wrong decision and you went in the wrong field, then he has down the line after spending millions of dollars. If you realize that this is not the rightful for you, and you have no future in the in this field, other companies went into other field and are flourishing. And you are not flourishing. Then there will be nothing except repentance. That means you have to decide initially, right? This is another right. Time is a meaning off corporate requirement. Okay, Now, who will develop the right decision for that? We need a people that have that level of intelligence experience and for that level off experience and intelligence. Reappoint portfolio manager. Okay, Portfolio. Melissa looks after company stairs IQ interest, Poor fool Human is a develops cooperate requirement that in Westfield company should do their investment if they decide that yes, nanotechnology is the emerging field These technological advancement that it's so amazing that those supercomputer which used to be a giant size their size God shrink into a laptop after that processing part off left off regard into a handheld movil. The way this size are getting showing it means nanotechnology have a great future in the coming years. So complete can decide that the company has risen that nanotechnology has a future technology on In future, such type of device will come which will be nano driven technology, right, and it is definitely likely to be sold. OK, but to capitalize that vision, it is necessary to have our expert to suggest various project in the field of negative nanotechnology in nanotechnology, there can be 1000 off Riddick. But how should we start for that redeveloped business case? So most important thing is that corporate requirement, which the four full humans are develops, cooperates of various project. It is no necessity that cooperation is working in a single fit, nor this corporation works on numerous filled simultaneously, and it is necessity. Also. This is called diversification. If they work in only one direction, and in one field it is it is called intensification. But if they walk in so many food, it is called diversification. And diversification is one of the risk management technique. If you let all your eggs in one basket, you are at a great risk, and if that basket goes off, then you're don't. But if you put your eggs in different baskets, if one or two off them are off the net, least you can bank upon other right. This is called risk minimization. Esterhazy. It is definitely advisable, so corporate don't go for only one field. They go. Several possible field were there can be a long term profitability, so that is the meaning off corporate requirements. So they will have a lot of programs, a lot of project combination off them, and they will prioritize them. They will look after only those which are statistically important to them at a given time. Then, as I said, this project in that field, should we go for that will be decided by business case Document. OK, developing. Business case document is actually a work off project sponsor. Okay. Nine Multinational corporation. We have a stating committee who actually look after business guest development. Walk. So all these three phases, if you put together this is called a statistic face. Okay, strategy face, then. After this, we have four different project Mannesmann face, which we have already seen in the previous slight Okay than fourth for his initiation. After that planning, then we have an execution. Then we have a closing. So I have no shown here monitoring and controlling separately, assuming that it is a part off planning and execution. Okay, it is a part of planning and execution face. So this four face we call it Project Face. Okay, We we combined Lee call it project face, which we have already understood enough previous slide end up on the slide off Project Lifecycle looking after closing. We have made a facilities. Okay, we turn. The needed for manufacturing means protecting ginning and production injuring. Have complicated. Then next next is production. Okay, the next is operational Start or personally start up. Now we start the operation and then every product has a life cycle. So in the middle off lifecycle correct will face intense competition. Everyone will face a lot of competition because the moment you lost product number of competitors this CEO protect we corporeal product will improve upon your product. Okay, Okay. We'll launch a better product in the coming year. This is what happens sometimes they would do reengineering. They will come to know What is it? What is there inside? So they will open your car and see each and everything. So the competition will come in the market in the field of compression, if you want to sustain the only remaining is to improve upon your ability. Your product Okay. You have to improve upon an organization. You working culture blueprint has to be better in market in the product off your competitive. For that it is complicity When there is intense competition Then the product which has supposed to be eight year off lifecycle, will fist such a present that we will have to upgrade it after four years. Then it is called Half Life upgrade. Okay, That basically means that we're improving the quality of product. You're making it more vibrant, more acceptable, more competitive Not as a product which are coming their life seconds are getting decreased . Product lifecycle have become a big concern for Multi Nestle Corporation. It has become big challenge because new products are coming. Know it better products comes with less price. Why you will go for the already existing product Anyways, What I'm saying is amazing devices keep coming but eventually you have to. When the cells are down to such a level, the break even can be maintained. That loss is the star. Mounting cells are no longer picking up. Then you have tow dispose. Okay, Tenements disposal off facilities. This is the tent face. Okay? No, If you combine 89 and 10 face Okay. These all three phases will come under operational fish. Okay, so we divide steady, steady face project phase and or personal face. Okay, so This is a tennis stays life cycle. This is how it goes. So we understood all dimension off this tennis test lifecycle. But now the only last point we need to understand is that that oppose it, Melissa. Only this project phase is therefore predict, Melissa. Okay, means involvement. A project minutes. There is from face 4 to 7. Okay. From initiation. Do closing only. And the involvement off. Protect his phone service from business case document or personal set up. Okay, you can clearly see. And they engagement off support for human minutes. That is from to do 10. Okay, cooperate requirement to disposal. Okay, but for a top mannesmann. Okay, top management includes CMD Board of Director, Chief Executive Officer. All these guys who are actually deciding the top most policy off the corporation for them life cycle will have all the 10 faces. Okay, Their involvement, their engagement. Really, in all the 10 faces. Okay for top management, but for pulled full humanism, it will be from corporate requirement to disposal. And for presentment is, um, it would be from initiation toe to closing and for and for sponsor it really from business gets document. Oh, disposal. Okay. Dispose all about canisters. Present lifecycle sealing the lex like choking 19. Project Procurement: opposite procurement. No procurement, as you all understand, is pan early. Nothing but the process of procuring the materials complete presentment is but his family and mainly contracts management various procurement. We do through contracts. So first, let us understand what is procurement. The process of procuring various resources required for project completion is called project procurement. Predict procurement is carried out through contracts. No contracts are legal documents enforceable by law and contents, several general and specific clauses to satisfy its various terms and conditions. Now we should understand in contracts water this basic and general clauses are there. Some closes I will mention here, but that does not mean these are the only closest. There are a whole lot of clauses in the contract, but I will discuss the important ones which are necessary for us to know. OK, so in contact closes the very first closes payment close, then delivery. Sure, you'll close then liquidated. Damages close, then force missile clause. And after that integrity close. No payment. Close means when the contractor has made his supplies or rendered his services or whatever as part of a contract that he will present his bill then the bill will be audited, passed by the buyer. Operation and payment will be made. Payment can be made, for example, it can be lump sum payment or it can be running account payment. Lump sum payment is one time payment, basically at the end of the supply. If everything is phone okay, that is billed, as I said, will be artistic posit and payment will be released. It is a one time payment. If everything is found in order, then payment will be released. And of course, if he has falters on some clauses, then penalty will be imposed upon him according to the banality close. So there is a penalty clause that underworld condition finality will be imposed. So passing off, the bill is dependent on all closes off the contract not only on one close right, because he has to comply with all closes off the contract in order to Elizabeth 400% payment. But if he does not comply with one or two or anyone off them to that extent, payment will be reduced depending upon to what extent he has violated that clause, whether it's a quality clothes or it's a non disclosure close or it is a liquidated damage , close or whatever. No running account payment means that if he has done 20% of the world that he will be given 20% of the payment. If he had been 40% work, that payment will limit 40%. Okay. Like that, then delivery. Should you close? OK, it is basically when in what quantity and where the material will be supplied. It is timetable. Okay? It is a timetable. It's like a should you. On what date? How much material to be supplied, Whether the material will goto warehouse or it has to go to site or to any space. Rick, go down. Everything will be mentioned in delivery. Shoot close. Okay, then liquidated. Damages close is important. Okay, simple meaning off. This is that if a contractor violates any terms and conditions of the contract and because of that by organizations, so for any damages that he has to make up for those Demas is for example, here's to deliver some critical software within three months. I know future process were dependent on that software. Right. Buyer has made a huge investment for the looping certain infrastructure and we are waiting for that sort Where And the company promises to deliver the software within three months company agility by two months. As a result, off that delay, we have been called a massive loss. So in at once it should be written, liquidated. Close. If you will let these things, then you will in post banality. So what we have understood. If the contractor violates any of the terms and conditions off the contracts resulting in damages to the buyer, then penalties can be imposed upon him under liquidated. Close. Okay, that is the meaning off this. Now come to force. Measure close. They're just first understand the meaning of this. Suppose you have given a contact for making a flyover and flour is being built in an area where there are plenty off landslides. So you want to make a robot structure off flyover. For that you have given the contract and in one year flavor is to be ready. Contractor did six months off work and he did a good job in the meantime, but suddenly a massive landslide, aka and everything is destroyed. Knowing this, whose mistake is there? Contractor has done good job. And you were also seeing his work Not for such cases. Force middle clauses already written in everyone's that for such cases which is uncontrollable. Then you will give relief to contractor in terms of delivery. Should do that instead of one year. He can deliver in 1.5 year. This is logical thing. Okay, If not in one year, you can complete in 1.5 year. Correct. And you will have to give composition. You will have to give extra finance and support to the contractor Verification team will go and examine to what extent damages as awkward on the basis off that competition can be given. So you will have to write these things. Enforce measure close in advance. So what does it say if a contractor So for damages due to the uncontrollable factors like landslides, floods, lightning, a terror attack, etcetera then under disclose relief or compensation or both can be given to the contractor s father terms off the clothes. Okay, this is the meaning Off force Mezza close. No, integrated. Close. Okay. That means the contractor is supposed to carry out the work in all integrity in every possible way. It should be fair, honest and profit there should be no violence off any fairness. In other words, he should not indulge in any unfair practices. For example, bribing you might have seen in international contracts. Big companies bribe to the officers off other countries for the signing off the contract so that the contracts rate gets high. Okay, so what does it say if the contractor in the listen any unfair practices like Bribing Spectra than his contract can be cancelled or that organization can be blacklisted or penalties can be imposed upon the contractor? This is called Integrity Clause. It is generally presenting the international contracts, but not necessarily, and it can be in national contracts as well. So that is all about the present procurement. 20. Project stakeholder: no easy stakeholders. Suppose you suppose you're making education them. OK, so farmer is going to be benefited from delegation them. So farmer is also stakeholder. Then banks will provider funds were confined. Insert support. So bank is also a strict order. Goldman, Goldman provide various approvals. Government is also stick order. Then Project manager is a stakeholder. Okay, Project team is a stakeholder. So any diesel or regulation who is grating, effected by the consequences or the outcome up the project is a stakeholder. Okay, so what? I said 80 unusal organization who is directly or indirectly affected biter processes or outcomes offer project are called stakeholders. So I'm going to make a diagram from its You will easily identified a stakeholder. Okay, The very first is Project Manager. Okay. Project Manager is a stakeholder Then Project sponsor is the stakeholder. Then Passaic team is the state quarter. Then program and port for human Asia are also stakeholder then functional Melissa Okay, functional minutes Art experts in their respective fields. Example Marketing Minister Exporting marketing then production manager. Okay, export in exporting production then Finance Minister Export of finance. Okay, So these other functional manager the Operation Manetta. Okay, operation Minister means when our production will start, we call it operation. Okay, then Operation Manager Will man is the operation. Okay, then we're never and supplier. Okay, They will either supply raw materials or their services or do contract for the project. Okay, They're all renders then beneficiary and customer. Okay, customer, is the data beneficially off the project? Ok then. Banks and financial institutions. They comes in just 1/4 because they provide funds or loans for the project, then Goldman departments because they provide approval for many cases, then others in others those will come. For example, we're making a education. Damn two division, the water will inundate and some was the area. And you do the submergence. Many former will lose their farms, their livelihoods. So they also affected by the project. Correct. So they have to be rehabilitated. So they're also stakeholder of the bullet because they're getting infected. Better outcomes off project. Ok, As I said, government is also a stakeholder because they provide environmental clearance. It is their responsibility and every project has to sick over environmental clearance from the government. But that the project is damaging the environment. If it does, that has to be adequately compensated for Okay, So these are there important stakeholder off any project? OK, 21. Stakeholder engagement model: not a real with different stakeholders. Project manager have different responses. Okay, because we know different type of stakeholders are their banks. Are there financial institutions? Are there Goldman departments are there higher management is there? Okay, talk management is there like sponsor program Man is airport for human is a whole lot of guys are there Bless blew him. Assistant Minister, we have for functional ministers have their operational managers are there and then supervisors have their workers Are their whole lot of people so different stakeholders are there? So how should he respond to various district Holder? Some mistake would have a higher power than project Manager Some have less power than Project Mineta So how should the response to them? For this? We have to models their old responsive mortal. 1st 1 is powered interest model 2nd 1 is Sally in modern. Let's see what is power interest model? Ok, it is one off the stakeholder engagement model. Okay, let's on why excess power is there and on X axis Interested there. Okay, So stakeholder power is high and interest is also a so project manager will have to manage closely. Okay, This is the standard language if his power is Luke and interest is also low than just monitor. If power is high and interest is low, keep satisfy. Okay, Power is low, but interested high. Keep informed. For example. Supervisor wants to know from Project Manager that in our product want to stand A should I use because I am not clear who is the standard I. Shall you sow that percentage reduction? Get the reduce right? So he's asking very frequently with high interest. But Supervisor Power is less, but he's asking very frequently, so it is necessary to inform him that you should use so and so standard, right? So he has to be informed. But if Sponsor is asking sponsor parties, I OK if he's asking something, but he has not much interest. He's asking you that last year assessment report within 10 or 15 days, but you have to satisfy him. Okay, So keep satisfying because its policies high. But he's asking with with less interest, so keep satisfying. But Portfolio manager itself is asking directly protect Melissa that this particle information you give me with all financial figure current progress within 2 to 3 days know what will you do his power is also I he needs immediately. She's a powerful stakeholder. Now what will you do? Man is closely okay after making report check again and again. If there is any loophole in the report Otherwise, you will be in trouble if suppose worker whose power is low and interest is also low. He wants to give some cessation. Okay, just monitor. If he's saying something less, it met and take it into consideration. No. One more model. Is there Sally in bottle? Basically, it defined the category office stakeholder in salad model. There's a category of a stakeholder, so caution can be arcs that on what basis Salin model is based so silent model is based on power. Beijing our agency based on legitimacy if he stakeholder power is high and in his matter agencies there. And that Stan which he is taking or he won't certain things to be done, is less intimate means lawful. Okay, then that's straight quarter will come in the category off. Definitive. If, yes, power licit Macy, but nor agency. Then he will be dominate. Then then that stakeholder will be dominant. It's supposed yes, power and urgency, but no legitimacy. Then he will be dangerous. That is, stakeholder is dangerous. If he has less to Missy an urgency but no power, then he will be dependent. If he has only power knowledge, it may see an urgency. Then he's dormant Then that stockholders dormant. If only agencies there, then he will be demanding. Okay, if no power and leads leads to messy but only agency. 10. Hamza demanding If he has only let it messy then he will be discretionary. OK, in this one thing, you need to understand that all seven category starts with letter D, whether it is definitive, dominant, dangerous, dependent, demanding, discretionary, dormant all started letter D. Okay, recall it's selling mortal off is take holder engagement more the local It categorizes the stakeholder that what will be the type of a stakeholder he would be. Suppose if he s power but he doesn't have legitimacy. Whatever he's asking to put it more able to do is illegal. And he's bored fully stakeholder, right? For example, port for humans are programming is a okay. He's more powerful than project manager and he's asking public major to do something illegal, like asking project measure to bribe government officer to get sanction environmental approval. But this is ethically wrong. Instead of driving comment, Project manager should compliance with government requirement. So this situation is dangerous. If suppose he is only power, but no agency and like legitimacy, then it is dormant. Okay, Means hidden later. Later on, it can surface up. Okay, let alone he can be active. Okay, Discretionary. In this category, Stakeholder is having legitimate issue in his mind. But he doesn't have power. He may be just a humble the sport of supervisor or humble worker. Okay, He wants to talk sense, okay? He wants to give some solution. Okay, which is less estimate? Okay. Demanding means agencies there, but not have power. He's demanding dependant. Okay. Independent stakeholder is having our agency and legitimacy, but don't have power. He is dependent. He needs support off someone. Okay, If all three card area is being satisfied, then definitely that work needs to be done. Ok, so this is all about selling more than