Chapter 1: INTRODUCTION TO PROJECT MANAGEMENT

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What is a project?
-has a unique purpose
-is a temporary endeavor
-has a beginning and an end
-is developed using progressive elaboration
-requires resources, often from various areas
-should have a primary customer or sponsor
A project is a way to create…
-a product
-an improvement
-a service
-a result
Portfolio
a collection of projects, programs, and operations managed as a group to support strategic objectives
Program
is grouped within a portfolio
Project Management
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements
The 5 process groups (Project life cycle)
1. Initiating
2. Planning
3. Executing
4. Monitoring and Controlling
5. Closing
the knowledge area of Project Integration Management
Ensure that all the project’s components are properly coordianted
the knowledge area of Project Scope Management
Define the processes that limit and control the work included in a project
the knowledge area of Project time Management
Manage the activities to complete the project within the allotted time
the knowledge area of Project Cost Management
Plan, estimate, and manage resources in order to complete the project within budget
the knowledge area of Project Quality Mangement
Ensures that the project outcomes meet the needs
ex: TQM and Six Sigma
the knowledge area of Project Human Resource Management
Includes such concepts as staffing decisions; team management; and organizational culture, style, and structure
the knowledge area of Project Communications Management
Include processes to ensure that project information was collected, disseminated, stored, and destroyed at the appropriate time
the knowledge area of Project Risk Management
Includes risk identification, quantitative analysis, risk monitoring
the knowledge area of Project Procurement Management
Include processes of solicitation, vendor selection, contractual agreements, and closeout processes
the knowledge area of Project Stakeholder Management
Appropriately engaging project stakeholders in key decisions and activities associated with the project
Triple Constraints
Time, cost, and scope
Time
the actual time required to produce a deliverable
Cost
Total estimated costs to deliver a successful project
Scope
What needs to be achieved and all of the work involved to deliver a successful project
Progressive elaboration…
..allows a project team to define work and manage it to a greater level of detail as it evolves
Portfolio Management
Prioritizes and selects right project for organization by maximizing return on investments
Program Management
Harmonizes and coordinates multiple projects
Project Management
Develops and implements plans to achieve a specific scope on an individual project
Project, program, and portfolio …
…are driven by organizational strategies
Project Management Office (PMO)
a management structure that standardizes project related work. It can serve as a stakeholder and key decision maker in an organization. The primary function is to support project managers through coaching and mentoring, monitoring and compliance, managing shared resources, identifying best practices, standards, policies, procedures and templates
The three degrees of control and influence
Supportive (low control), controlling (moderate control), and directive (high control)
Projects (projects vs operations)
-Projects are temporary endeavors
-they are unique
-purpose is to accomplish its objectives and then terminate
-project is completed once deliverables have been accomplished
Operations (projects vs operations)
-operations are ongoing and repetitive
-purpose of ongoing operations is to sustain the business
-operations adopt revises objectives and the work continued
Categories: Project Management