Introduction: Project Management

What are the four qualities that characterize projects of all types?

1. Creates a unique product, service, or result 2. Is a temporary endeavor 3. Drives change 4. Enables business value (the benefit that results) creation

The 6 Business and Project Artifacts

1. Data and Info - Work performance data: raw observations and measurements identified during activities performed to carry out the project work 2. Business Documents - Project business case (documented economic feasibility study - driving document created in a needs assessment), and the project benefits management plan (how and when the benefits of the project will be delivered) 3. Agreements - Mutually binding document that obligates a seller to provide the specific products, services, or results of a contract, or other tangible forms 4. Project Charter - Document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities 5. Project Management Plan - Comprehensive document that describes how the project will be executed, monitored, and controlled 6. Project Documents - Series of project documents will be used through the life of the project. Used as an output from a process then used an inputs for other processes

The 5 Process Groups

1. Initiating - 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. 2. Planning - 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. 3. Executing - Those processes performed to complete the work defined in the project management plan to satisfy the project requirements. 4. Monitoring and Controlling - Those processes required 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. 5. Closing - The process performed to formally complete or close the project, phase, or contract.

What are Process Groups?

A logical grouping of project management processes to achieve specific project objectives Independent of process phases as well as the application area or industry focus

What is a program? What is program management?

A program is a group of related projects, subsidiary programs, and/or program activities that accomplish a set of goals Focuses on the interdependencies between projects and the program level to determine the optimal approach for managing them. A program is made up of subsidiary programs and projects

The 10 Knowledge Areas

1. Integration - Identify, define, combine, unify, and coordinate the various processes and project management activities within the project management process groups 2. Schedule - Manage timely completion of the project 3. Quality - Incorporating the organization's quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meeting stakeholder's expectations 4. Communications - Ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information 5. Procurement - Purchase or acquire products, services, or results needed from outside the project team 6. Scope - Ensure the project includes all the work required, and ONLY the work required, to complete the project successfully 7. Cost - Planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget 8. Resources - Identify, acquire, and manage the resources needed for the successful completion of the project 9. Risk - Conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project 10. Stakeholder - Identify the people, groups, or organizations that could impact or be impacted by the project; to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effective engaging stakeholders in project decisions and execution

Project Phase

A collection of logically related project activities that, together, produces one or more deliverables Can be described by a variety of attributes that may be measurable and unique to a specific phase. Examples: Prototype, Design, Build, Test, Concept Development, Transition

What is a deliverable?

A deliverable is defined as any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project

What is a portfolio? What is portfolio management?

A group of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives Facilitates the effective governance and management of the work that helps achieve organizational strategies and priorities. Aligns portfolios with organizational strategies by selecting the right programs or projects, prioritizing the work, and providing the needed resources. "Right" programs to align with business strategy

What term best represents a methodology for rapidly changing requirements and stakeholder involvement?

Adaptive/Agile

Phase Gate

A review at the end of a phase in which a decision is made to continue, modify, or end a phase or project The project's performance and progress are compared to the project and business documents. Examples: Phase reviews, stage gates, kill points, phase exits

Project Management Processes

A systematic series of activities where inputs are acted upon by tools and techniques to create outputs An output can be a deliverable or another type of outcome Processes are linked by the outputs they produce and 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 phase

What is a project?

A temporary endeavor undertaken to create a unique product, service, or result It has a definite beginning and end and are undertaken to fulfill objectives by producing deliverables

Success Factors

Achievement of the project OBJECTIVES Three key questions: 1. What does success look like for this project? 2. How will success be measured? 3. What factors may impact success?

What are Business and Project Artifacts?

Act as inputs and outputs across all processes

What is a project life cycle that is agile, iterative, or incremental?

Adaptive Life Cycle

What is a Knowledge Area?

An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques

Factors that cause a project to start

Meet regulatory, legal, or social requirements (Material/Legal) Satisfy stakeholder requests or needs (Market demand/Customer request/Stakeholder demands/Social need) Implement or change businesses or technological strategies (New technology/Competitive forces/Political changes/Market demand) Create, improve, or fix products, processes, or services (New technology/Material issues/Market demand/Customer request)

Projects are undertaken to fulfill objectives by:

Producing Deliverables

Which of the following is the definition of project management?

Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements

Project Life Cycles

Series of phases that a project passes through from start to completion; a framework for managing the project Can be predictive or adaptive with phases that may be sequential, iterative, or overlapping

Product Life Cycle

Series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and retirement Phases in a product life cycle can include one or more project life cycles

What is true of Project Management Process Groups?

The five Process Groups are independent of the application areas (such as marketing, information services, or accounting. Or industry focus (such as construction, aerospace, telecommunications) The NUMBER of process iterations and interactions between processes varies based on the needs of the project

What are operations? What is operations management?

Transforms resource or data inputs into desired goods, services, or results, and delivers value to the customers. DIFFERENT FROM PROJECTS - they are ongoing and are managed by organizational managers, not project managers Ongoing production and continued efficiency to meet customer demands. Does not pertain to formal project management