Project Management Overview
This unit will cover what project management is, the stages of the process, and some tips and tricks for effectively overseeing your F1 in Schools team. All content in this unit was created in partnership with the Project Management Institute Educational Foundation. To learn more about the Project Management Institute and to view these units in a pdf instead of on our site, click the button below.
This overview section defines many of the terms that are referenced in the later sections of this unit and in the Competitive Regulations and Key Performance Indicators on the competition rubrics.
Principles of Project Management
You probably are already engaging in project management in your everyday life. Each time you plan what clothes to pack for vacation, scheduled a time for your group of friends to get together, prepared a presentation or enter a competition with your team, you were participating in various aspects of project management. Project Management is a process followed to help ensure that all project work that must be completed to create a product, service or result is understood, planned and finished within the constraints of time (the schedule), cost (the budget) and quality.
What is a Project?
Perhaps it is best to say what a project is not… It is not a daily, weekly, or even monthly routine or activity such as walking the dog or weekly chores. These activities are called ongoing operations. A project is temporary, it has a beginning and end and it creates a unique product, service, or result. It can vary in size, be simple or complex and will involve resources such as materials and people. Some examples of a project are planning a school prom, a birthday party, or your entry into F1 in Schools.
Key Roles in Project Management
Project manager: This is the person responsible for making sure that each of the project’s goals and objectives are completed. The project manager oversees the project from beginning to end and ensures that everyone involved is informed about how the project is going. In an F1 in Schools team this could be the Team Manager or you could create a Project Manager role within your team.
Project stakeholder: This a person or an organisation who is involved or has an interest, positively or negatively, in the project or the outcome of the project. Project stakeholders may include customers, clients, vendors, team members and contributors to daily activities. All stakeholders need to be kept informed of the project’s progress. The project stakeholders in F1 in Schools could include your school or college, F1 in Schools HQ or your in- country coordinator.
Project sponsor: This is a key project stakeholder and is the person that provides financial and other needed resources for the project. The project sponsors in F1 in Schools are your financial and in-kind sponsors or indeed your school or college.
Project team members: These are the people who work on a project and contribute to its success. This is your F1 in Schools team.
The Triple Constraints of Project Management
Every time you start a project you will be concerned with what has to be done(scope), how much it will cost(budget), and how long it will take (time). You do this all of the time, using the above examples of planning the prom or a birthday party. We call the three parameters the triple constraints of project management.
Your team’s project manager will want to define these parameters early in the project. Once defined, you will use these parameters as guideposts as you plan and later execute your project. You will also determine which parameter is most important and use the other two as negotiating points if necessary. For example, you might determine the most important parameter is being ready for your regional competition (time) with a car that meets the specifications (scope). If you run behind schedule, you might need more money or resources (cost) to manufacture the car correctly and make it to the competition on time. You will notice the parameter of quality in the middle of the triple constraints and resources and risks as influencers. Quality, risks and resources are used as references to attain your goals. You always need to keep them in mind as you plan and execute.
Overview
Any project, no matter the size or complexity, involves using specific skills, tools, and procedures to complete the project’s goals. Project management can be broken down into five processes:
These processes help the project manager and team members define, organize, and keep track of all the work that needs to be completed for a project to be successful.
The Initiating Process is the beginning of the project. During this process, project stakeholders are identified and a project manager is selected. Project goals and objectives are defined and authorisation is obtained to proceed with the project.
During the Planning Process, the project plan is created. The project manager and team members define the activities and tasks needed to complete the final product, service or result. They also determine what staff and resources are needed and establish the timeline and available budget for the project. The planning process is very important to the overall success of the project. Without careful planning, a project manager and project team may find it very difficult to achieve project success.
Executing is the process of working through the project plan. The executing stage involves performing the activities outlined during the planning process.
Monitoring and Controlling occurs throughout the entire project. Monitoring and controlling involves ensuring that all the tasks in the project plan are completed on time and within budget, as well as addressing any changes necessary to successfully achieve the project goals.
In the Closing Process, project goals are delivered. Final administrative work is completed, and lessons learned are captured to improve future projects. The closing process involves taking the time to celebrate the team’s successes along the way toward completion of the project.
Each stage is further defined in its own section in this unit.