Chapter 1 - Introduction
Chapter 1 Review
---Project Initiation Context. Why Projects are Created Purpose : to build business value 1. Regulatory, legal, or social requirements 2. Stakeholder requests 3. Technological advances (hardware, software, or construction environment - technology or improvement) 4. Create, Improve, or fix products, processes, or services ---Projects Are Temporary This does not mean a short term duration, temporary means not on-going. Projects have definite beginning and ending. Project Charter When we create deliverables, we know projects are done when we meet objectives. Projects end when: Objectives met Objectives cannot or will not be met Funds are depleted Need no longer exists Resources are no longer available Legalities or convenience terminates the project --Project Create Unique Products, Services, or Benefits Projects Drive Change Change from current state to desire state (future) We are Moving, Adding, Changing or Delete (MACD) This is a test to know if we are doing a project. 1. Transition period is possible, especially in IT. I.e. (Windows X to Windows Y, we have 1000s of people we have to take care of. We update our customers in several iterations at a time. We have customers in Windows X and Windows Y. 2. We are giving product in someone else support, like bldg, solution. There is certain type of warranty or solution. There is period of support we help customers to get in the desire state. --Projects Enable Business Value Creation Project Iniation Context - The reason organization creates a project, there is a certain value the project brings this is called business value. ****Business value - means benefits for the organization and stakeholders Two types: tangible, intangible Tanigible business value - monetary assets, stockholder equity fixtures and tools, market sure Intangible business value - Goodwill and reputation, brand recognition, public benefit, trademarks, strategic alignment. --Defining Project Management A Project Manager, is an individual who manages projects. Also manages change in organization. Changing from current stage to desired stage. PMBOK Definition: Appliaction of knowledge, skills, tools, and techniques to meet the project requirements. First step: I have to understand the vision of your project. Extract the requirements from customer. Second Step: Understand logisticis, laborer, and etc. 49 Project Mgmt. Processes Five project management process group: Initiating, Planning, Executing, Monitoring and Controlling, Closing. I only do the processes that are needed in the project. --Typical Project Management 1. Identifying requirements 2. Addressing needs, concerns, and expectations of stakeholders. 3. Setting up, maintaining, and carrying out communications 4. Managing stakeholders (anyone that can affect the project, or who is affected of the project. 5. Balancing competing project constraints: (Scope, Quality, Schedule, Budget, Resources, Risks) --Progressive Elaboration - Started very board, and get more more information until we are very specific. 1. Idea or concept 2. Formulate the idea 3. Business case 4. Feasibility 5. Project --Project Management Application Areas 1. Construction 2. Healthcare 3. Government 4. Information Technology A project is a project. The priniciples of Project Mgmt. can span all application areas. The expected practices are universal. We always plan, execute, monitor/control and close. It's a universe approach, allows us to speak to all terminology. --Reviewing a Project Cycle Project Management Life Cycles - Describes, initiation, planning, executing, monitoring/controlling, and closing. Common process groups, we all use as Project management. The project life cycle is unique to each type of project. It describes the phases of the project. Each phase develops the project life cycles. Project Life Cycle - Is unique to the project you are doing. Some projects have their own unique life cycle. The project life cycle is always unique, each phase describes the work and deliverable. Milestone - is a significant accomplishment of the assignment. Define Project Foundation What is a Project? Operations or Project Tempoary Nature of Projects. Create a unique product, service, or result. Business Value - Projects create business value (very important, know this Mark!) Project Iniation Context - Why projects are iniated and funded What's Project Management? How can it work in different industries. Its a framework, set of practices. Reviewing the project life cycle and compare to project management life cycle.
Phase gate
A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, of to the end a program or project. The project's performance and progress are compared to project and business documents including but not limited to: project business case, project charter, project management plan, benefits management plan. Depending on the organization, industry, or type of work, phase gate may be referred to by other terms such as phase review, stage gate, kill point, and phase entrance or phase exit.
Project management data and information
A significant amount of data is collected, analyzed, and transformed. Project data are collected as a result of various processes and are shared with the project team. The collected data are analyzed in context, aggregated, and transformed to become project information during various processes. Information is communicated verbally or stored and distributed on various formats as reports.
Portfolio management
Defined as projects, programs, subsidiary portfolios, and operations manager as a group to achieve strategic objectives. Also defined as the centralized management of one or more portfolios to achieve strategic objectives. The programs or projects of the portfolio may not necessarily be interdependent or directly related. Also confirms that the portfolio is consistent with and aligned with organizational strategies.
Operations and project management
Projects can intersect with operations at various points during the product life cycle, such as; When developing a new product, upgrading a product, or expanding outputs While improving operations or hr product development process At the end of the product life cycle At each closeout phase
Program Management
The application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually. This refers to project to determine the optimal approach for managing the project. Program management focuses on the interferences between projects and between projects and the program level to determine the optimal approach for managing them.
Tailoring
The appropriate project management processes, inputs, tools, techniques, outputs, and life cycle phases should be selected to manage a project. This selection activity is known as tailoring project management to the project. The project manager collaborates with the project team, sponsor, organizational management, or some combination thereof, in the tailoring. Tailoring is necessary because each project is unique; not every process, tool, technique, input, or output identifies in the PMBOK Guide is required on every project. Tailoring should address the competing constraints of scope, schedule, cost, resources, quality, and risk. The importance of each constraint is different for each project, and the project manager tailors the approach for managing these constraints based on the project environment, organizational culture, stakeholder needs, and other variables. In tailoring project management, the project manager should consider the varying levels of governance that may be required and within which the project will operate, as well as considering the culture of the organization. In addition, consideration of whether the customer of the project is internal or external to the organization may affect project management tailoring decisions.
Project Benefits Management Plan
The project benefits management plan is the document that describes how and when the benefits of the project will be delivered, and describes the mechanisms that should be in place to measure those benefits. A project benefit is defined as an outcome of actions, behaviors, products, services, or results that provide value to the sponsoring organization as well as to the project's intended beneficiaries. Development of the benefits management plan begins early in the project life cycle with the definition of the target benefits to be realized.
Project Charter and Project Management Plan
The project charter is defined as a document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authorization resources to project activities. The project management plan is defined as the document that describes how the project will be executed, monitored, and controlled.
Iterative life cycle
The project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team's understanding of the product increases. The life cycles develop the product through a series of repeated cycles, while increments successively add to the functionality of the product.
Project life cycle (predictive)
The project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed. Also referred to waterfall.
Work performance data
The raw observations and measurements identified during activities profiles to carry out the project work. Examples are Work physically completed, quality and technician performance measures, start and finish card if schedule activities, number of change requests, number of defects, actual costs, actual durations. Project data are usually record in a PMI system
Adaptive Life Cycle
Are agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration. Also referred to as agile or change- driven life cycles.
Project phase
A collection of logically related project activities that culminates in the completion of one or more deliverables. The phases of a life cycle can be described by a variety of attributes. Attributes may be measurable and unique to a specific phase. Like Name, Number, Duration, Resource Requirements. Also Entrance Criteria for a project to move into that phase, like "specified approvals documented, specified documents completed." As well there exit criteria for a project to complete a phase "documented approvals, completed documents, completed deliverables." Projects may be separated into distinct phases or subcomponents. These phases or subcomponents are generally given names that indicate the type of work done in that phase. Examples are feasibility study, customer requirements, build, test, milestone review or etc. Using multiple phases may provide better insight into managing the project. It also provides an opportunity to assess the project performance and take necessary corrective or preventive actions in subsequent phases. A key component used with project phases is the phase review.
Hybrid life cycle
A combination of a predictive and an adaptive life cycle. Those elements of the project that are well known or have fixed requirements follow a predictive life cycle, and those elements that are still evolving follow an adaptive development life cycle.
Project management process group
A logical grouping of project management inputs, tools, and techniques, and outputs. The project management process groups include initiating, planning, executing, monitoring and controlling, and closing. Project management process groups are not project phases.
Project management group
A logical grouping of project management processes to achieve specific project objectives. Process groups are independent of project phases. Project management processes are grouped into the following five Project Management Process Groups.
Relationship of project, program, and operations management.
A project may be managed by three different scenarios. A standalone project or part of program or portfolio. Project Managers interact with portfolio or program managers when a project is within a program or portfolio. For example, multiple projects may be needed to accomplish a set of goals and objectives for the organization. Projects may be grouped together in a program. Some organizations may employ the use of a portfolio to effectively manage multiple programs and projects that are underway at any given time. Program management and portfolio management differ from project management in their lifecycles, activities, objectives, focus, and benefits. However, portfolios, programs, projects, and operations often engage with the same stakeholders and may need to use the same resources, which may result in a conflict in the organization. This type of a situation increases the need for coordination within the organization thriftiness the use of portfolio, program, and project management to achieve a workable balance in the organization. Program and project management focus on doing programs and projects the "right" way; Portfolio management focuses on doing the "right" programs and projects.0
Methodology
A system of practices, techniques, procedures and rules used by those who work in a discipline.
Project management processes
A systematic series of activities directed toward causing an end result where one more inputs will be acted upon to create one or more outputs. Every project management process produces one or more outputs from one or more inputs using appropriate project management tools and techniques. The output can be a deliverable or an outcome. Outcomes are an end result of a process. Project management processes apply globally across industries. Project management process are logically linked by the outputs they produce. Processes may contain overlapping activities that occur throughout the project. The output of one process generally results in an input to another process or a deliverable of the project or project phase. Processes used once or at predefined points in the project. The processes Develop Project Charter and Close Project or Phase are examples. Processes that are performed periodically as needed. The process Acquire Resources is performed as resources are needed. The process Conduct Procurements is performed prior to needing the procured item. Processes that are performed continuously throughout the project. The process Defined Activities occur throughout the project life cycle, especially if the project uses rolling wave planning or an adaptive development approach.
Project management knowledge areas
An identified area of project management defined by its knowledge requirements and described on terms of its component processes, practices, inputs, outputs, tools, and techniques.
Operations Management
Concerned with the ongoing production of goods and/or services. It ensures that business operations continue efficiently by using the optimal resources needed to meet customer demands.
Incremental life cycle
The deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame. The deliverable contains the necessary and sufficient capability to be considered complete only after the final iteration.
Work performance information
The performance dada collected from various controlling processes, analyzed in context and integrated bases in relationships across areas. Examples of performance information are status of deliverables, implementation status for change requests, and for add estimates to complete.
Work performance reports
The physical or electronic representation of Work performed information complied in project documents, which is intended to generate decisions or raise issues, actions, or awareness. Examples are status reports, memos, justifications, information more, electronic dashboards, recommendations, and updates.
Project Life Cycle
The series of phases that a project passes through from its start to completion. Provides the basic framework fir managing the project. The basic framework applies regardless of the specific project work involved. Phases may be sequential, iterative, or overlapping. Project life cycles can be predictive or adaptive. Within a project life cycle, there are generally one or more phases that are associated with the development of the product, service, or result. These are called a development life cycle. Development life cycles can be predictive, iterative, incremental, adaptive, or a hybrid model: ITs up to the project management team to determine the best life cycle for each project. Identifying the process or processes to be performed in each phase. Performing the process or processes identified in the appropriate phase, adjusting the various attributes of a phase.
Initiating Process Group
Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
Closing Process Group
Those processes performed to formally complete or close the project, phase, or contract.
Monitoring and Controlling
Those processes performs to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.
Executing Process Group
Those processes required to complete the work defined in the project management plan to satisfy the project requirements.
Planning Process Group
Those processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.
