Project Characteristics
Function-Process-Time Relationship
The time, process, and function components of project management
form a relationship which may be viewed as three-dimensional. This
relationship is shown in Figure 2. The figure
shows functions which are to be managed, the processes which are
used by management, and their variation in terms of effort required,
as the project progresses from beginning to end.
Project Stages
There are four distinct project phases or stages which make up
the typical project life cycle, namely: Concept; Planning; Execution;
and Termination. These phases may be more easily remembered by the
letters CDEF standing for:
- Conceive
- Develop
- Execute
- Finish.
Figure 2: The Function-Process-Time relationship in project management
Note: The diagram shows the relationship which makes project
management both universally applicable and unique to all project
work
Of special significance to project management is the variation
in the level of effort required to conduct a project during its
life time. This LOE variation, and the activities involved for,
say, building a process plant, is shown in Figure
3.
Project Management Functions
The management functions involved in a project typically include
human and material resources, scope, cost, time, quality, communications
and risk management. Each represents a special discipline calling
for varying degrees of training, and the requirement for each function
depends on the size and nature of the project in question.
A breakdown of these various project management functions, into
processes, activities and techniques which may be anticipated within
each function is now considered to be part of the Project Management
Body of Knowledge. It is available from the Project Management Institute,
Box 43, Drexel Hull, Pennsylvania 19026, U.S.A.
Figure 3: The four basic periods of a typical project life cycle
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Typical
Environment 
