SV Group Services Project managment

Project managment

Project is a time-constrained endeavour undertaken to achieve some unique product, service or result.  

Why do projects fail?

It’s because a project is not managed. In project management we apply standard SV Group project management methodology which is based on years of experience in managing and implementing complex IT and organizational projects, and standards defined by the Project Management Institute (PMI), described in ‘A Guide to the Project Management Body of Knowledge’.

Project Management

Projects fail to meet the deadline, deliver contractual functionalities and exceed agreed upon budgets because projects are not managed or standard management processes are not followed. 

Why do projects fail?

  • Poor communication (28%)
  • Insufficient resource planning (18%)
  • Unrealistic schedules (13,2%)
  • Poor project requirements (9,8%)
  • No support from interested parties (6,7%)

Source: PM Network vol 21 / 2007 (PMI publication)

Project management standard sorts all processes into five process groups:

  • Initiating: defines and authorises the project
  • Planning: defines and supports the objectives, plans activities needed to achieve the objectives and the scope for which the project was initiated
  • Executing: integrates people and resources so as to carry out the project management plan
  • Monitoring and Controlling: measures and monitors the implementation progress, with the purpose of determining the differences in relation to the project management plan, in order to take corrective measures, if need be, to achieve the project objectives
  • Closing: formalizes the acceptance of project results and brings the project to its orderly close

Project management includes project requirements identification, interested parties expectations and balancing of project constraints concerning the scope, quality, time plan, budget, resources and risks.

Due to this uniqueness, a project is progressively refined; a project plan is constantly improved and gets more meticulous through a sequence of iterations, all based on information which gets more detailed during the realization of the project while assessments become more precise.

Each project has to have a clearly defined beginning and end. A project is finished when it is mutually established, between the Customer (or on behalf of the Customer by the supervisory body) and the Supplier, that the project objectives have been met or not or cannot be met. A project is carried out by a project team of limited duration and is relinquished when the project is done.

Project management is transfer of knowledge, skills, tools and techniques into project activities in order to achieve project requirements.

In project management we apply standard SV Group project management methodologywhich is based on:

  • Years of experience in managing and implementing complex IT and organizational projects on state and major banks level and
  • Standards defined by the Project Management Institute (PMI), described in ‘A Guide to the Project Management Body of Knowledge’

PMBOK is a catalogue of processes and knowledge accepted as best practices in the field of project management. PMBOK is an internationally accepted standard. (ANSI/PMI 99-001-2008, IEEE Std 1490-2003).

Project management is a standardized process applicable to all project types and sizes. Along years of experience in implementing complex IT projects, some of which were EU-funded, we also hold a project management certificate – Project Management Professional (PMP) issued by PMI.

Since every project is individual, and at same time a joint venture of both sides (Customer and Supplier), we are willing to customize our standard SV Group project management methodology to specific requirements of each individual project.

Consequences of not applying project management: 

  • 20% of projects fail at the start
  • 50% of projects exceed the planned budget
  • 70% of projects do not fulfil the set objectives (deadlines, cost, quality)
  • Only 30% of projects end successfully

Project management means: 

  • Establishing project organization
  • Defining project organization
  • Defining project team structure
  • Defining roles, tasks and responsibilities
  • Defining work structure (WBS – Work Breakdown Structure)
  • Defining project time plan with checkpoints and phase deliverables
  • Identifying, quantifying, planning, monitoring, managing risks, time, cost, scope, resources, changes
  • Systematically, continuously, documented reporting about project progress in reference to the project plan
  • Dealing with the project plan deviations
  • Running the change management process
  • Establishing effective and timely communication system on the project

Deliverables

  • Project Charter
  • Project Scope
  • Project Management Plan
  • Continual reports about project progress
  • Acceptance and Delivery Record  

Change Management 

Every change on the project, particularly within the work scope, can affect planned deadlines, planned costs and planned quality of requested products or services. In the authorized Change Request the change is described, as well as the reason for the change and the impact of the change on the work scope. Authority which decides on the changes can, upon reviewing the Change Request, accept or disregard the same.

Successfully managed projects are significantly boosted by unambiguously defined requirements, conciliated expectations of interested parties, project plans, realistic budget and deadlines, experience of project manager and effective communication. For a project to succeed it is crucial to have defined processes and methodology.

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