Project Management Framework Notes

Project
  • Is a temporary endeavor
  • Will have definite start and end date (or beginning and end)
  • Can be to create a unique product, service or result
    • Effecting a change in structure, staffing or style of organization
    • Developing or acquiring new new/modified information system
    • Constructing a building or infrastructure
    • Implementing a business process or Procedure
  • End is reached when:
    • Objectives achieved
    • Project terminated (goals will not or cannot be met)
    • Project is no longer needed
  • Temporary nature does not mean the duration of the project is short
  • There might be repetitive elements, but fundamental uniqueness will be there.
  • Can involve a single person, a single organizational unit or multiple organizational units
Project Management
  • Application of knowledge, skills, tools and techniques to the project activities to meet the project requirements
  • Achieved through the application and integration of below process groups:
    • Initiating
    • Planning
    • Executing
    • Monitoring and Controlling
    • Closing
  • Managing a project typically includes:
    • Identify requirements
    • Address stakeholder needs, concerns and expectations while planning
    • Balancing below constraints:
      • Scope
      • Quality
      • Schedule
      • Budget (cost),
      • Resource (Human Resource)
      • Risk
Project Management Plan
  • Is iterative in nature and goes through progressive elaboration throughout the project life cycle
Portfolio Management
  • Portfolio is a collection of Programs or Projects and other works grouped together to facilitate effective management of work to meet statigic business objectives
  • Programs/Projects need not be interdependent or related
  • Portfolio Management is the management of a collection of projects, programs or portfolios. This also includes identifying, prioritizing, authorizing, managing and controlling.
  • Focus on ensuring that projects/programs are aligned to the organizational strategies.
Program Management
  • Group of related projects
  • A program will have always projects
  • If the relationship of the project is only that of a shared client, seller, technology or resource – the it should be treated as portfolio, and not program
Strategic Considerations
  • Reasons for a project are:
    • Market demand
    • Strategic opportunity or business need
    • Customer request
    • Technological advance
    • Legal requirements
Project Management Office
(PMO)
  • An organizational body for the management of projects in an organization. They give project management support to directing the management of projects.
  • Managed projects  may not be related
  • Form, functions and structure is dependent on the needs of the organization
  • May delegate as an authority to act as:
    • Integral decision maker
    • Make recommendations
    • Terminate projects
    • Selection, management and deployment of shared/dedicated project resources
    • Identifying and developing project management methodology, best practices and standards
    • Coaching, mentoring, training and oversight
    • Monitoring compliance with project management standards, policies, procedures and templates via project audits
    • Developing and managing project policies, procedures, templates and other shared documents
    • Co-ordination of communication across projects
  • Activities in PMO are aligned to the strategic needs of the organization
Operations Management
  • Operations are organizational ongoing functions. Eg: Manufacturing, Accounting
  • Projects intersect with operations at many points. Eg: Closing phase
  • Operations are permanent endovers
Project Manager
  • Achieve project objectives
  • May report to Functional Manager or Portfolio Manager or Program Manager, depending on the organizational structure
  • Possess:
    • Knowledge about project management
    • Performance – what PM is able to do or accomplish
    • Personal – behavior when performing activity (attitude, core personality characteristics, leadership
Functional Manager
  • Concentrates on specific administrative/functional/operations area
  • Responsible for facet of core business
Enterprise Environmental Factors
  • Refers to internal and external factors that influence or surround a project’s success
  • Refers to:
    • Organizational culture, structure and processes
    • Govt. or industry standards
    • Infrastructure
    • Human resources
    • Personal administration
    • Company work authorization systems
    • Marketplace conditions
    • Stakeholder risk tolerances
    • Political Climate
    • Communication Channels
    • Commercial Databases
    • Project Management Information Systems

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