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Project Management 1
Chapters 1-3
| Term | Definition |
|---|---|
| Organizational Project Management (OPM) | the framework that integrates portfolios, programs, and projects to achieve strategic objectives appropriately. Enables organization to consistently/predictably deliver -- producing better performance, results, and a sustainable competitive advantage. |
| 1) portfolio 2) program 3) project | portfolios = programs + projects and prioritizes and provides resources program = harmonize program components project = enables achievement of organizational objectives |
| Project Management Process | how a project life cycle is managed |
| How a project management process is performed | it can be performed at predefined points, periodically as needed, or continuously throughout a project |
| project management Knowledge Areas | integration, scope, schedule, cost, quality, resource, communications, risk, procurement, stakeholder |
| project management Tailoring | a project manager's selection of any methodology which includes the system of practices, techniques, procedures, and rules used by those who work in a discipline. Also the project approach, life cycle, and PM process to meet project and product reqs |
| project management Life Cycle | a series of phases that a project passes through. May be sequential, iterative, or overlapping. They contain development life cycles. Phases are time-bound with control points |
| types of Development Life Cycles | predictive/waterfall, iterative, incremental, adaptive, hybrid of predictive and adaptive |
| project management Process Groups are the way processes are organized | Initiate - define/approve project Plann - scope, objectives, course of action Execute - complete work defined Monitor/Control - track, review, regulate (or change) progress & performance Close- Formally complete project, phase, or contract |
| Deliverable | a verifiable product, result, or capability that services/helps complete a process, phase, or project. Tangible or intangible |
| Stakeholder | an individual, group, or organization that affects/is affected by the decision, activities, or outcome of a project. Internal/external, actively, passively involved, or unaware of project. Positive or negative impact/impacted by project |
| project Data | is collected from various processes and turn into Work Performance Docs (ie WP Data recorded in PMIS, WP Info analyzed in context for status and estimates, WP Reports to make decisions or raise issues, actions, or awareness) |
| Project Business Case | developed to outline project objectives, the required investment, and financial/qualitative criteria for project success. Success is measured at the end of the project against the stated objectives. (A needs assessment precedes the Business Case) |
| Benefits Management Plan | a Report that describes how & when benefits will be delivered, and the mechanisms in place to measure said benefits. May include: target benefits, strategic alignment, timeframe for realizing (short, long term and ongoing), benefits owner, metrics, risks |
| Program Governance | seeks to control EEF and OPA by aligning and guiding key functions and principles to Organizational Project Management |
| Enterprise Environmental Factors (EEF) | conditions not under the control of the project team that influence, constrain, or direct the project. Can be internal or external, positive or negative. May impact at enterprise, portfolio, program, or project level |
| Organizational Process Assets (OPA) | are internal to the enterprise and affect the management of the project. (ie, change control procedures, templates, info from previous projects, and lessons learned in repositories) |
| 4 Domains of OPM | alignment, risk, performance, and communications. Each domain has functions of oversight, control, integration, and decision making |
| Key Functions of management | divides work based on special skills and availability, authorizes specific work, performs work approp. assigned based on skill & experience, discipline of action, unity of command, unity of direction, general org. goals >> individual goals, pays fairly |
| Key Principles of management | optimal use of resources, clear communication channels, right materials right person right job right time, fair/equal treatment, clear security of positions, safety of ppl at workplace, open contribution to planning/executing, optimal morale |
| Program Management Offices (PMO) | stadardizes and is the natural liaison of project related governance processes and shares resources, tool, & techniques. May be a key Stakeholder or decision maker of a project |
| types of PMOs | Three types of PMO are supportive (consultatory and repository) , controlling (require compliance), and directive (directly manages projects) |
| the Talent Triangle | Technical project management -> Leadership -> Strategic and Business management -> (loop back) |
| Business Knowledge | same as Domain knowledge. The PM should know Enough to Explain a project's essential business aspect, Continuously work with a project sponsor, team, and SME to Deliver and Implement delivery that Maximized business value. |
| the least Business knowledge a project manager should know | at the least, a PM should be able to explain Strategy, Mission, Goals/Objectives, Products/Services, Operations, Market/Market Conditions, and Competition |
| when Integration takes place | takes place at 3 different levels: Process, Cognitive, and Context. If a PM fails to integrate project processes where they interact, objectives will not be met. |
| Complexity within projects | complexity within projects have 3 dimensions: system behavior, human behavior, and ambiguity |
| a Project is | a temporary endeavor to create a unique product, service, or result. So there is a beginning and an end. Terminating a project requires approval |
| how Project Management is accomplished | is accomplished through appropriate Application and Integration of the PM Processes identified for the project. |
| how a project is Managed | identify requirments, address needs/concerns/expectations of stakeholders, est. & maintain active communication with stakeholders, manage resources, Balance competing project constraints that include scope, schedule, cost, quality, resources, risk |
| how program management Supports organizational Strategies | by authorizing, changing, or terminating projects and managing their interdependencies. InterD include resolving resource constraints/conflicts, align strategies affecting goals/obj., manage issues and changing |
| 3 Ways a project can be Managed (structurally) | standalone project (outside a portfolio or program), withing a program, or within a portfolio. |
| Organizational Governance | structured to provide direction/control through policies, processses to meet strategic/operational goals. Usu. conducted by board of directors to ensure accountability, fairness, and transparency to stakeholders. May impact OPM by enforcinging legal regul |
| Elements of a project governance framework | include principles or processes for: stage gate or phase reviews, Identifying escalating and resolving risks and issues, definging roles responsibilities and authorities, process for project knowledge management and capturing lessons learned, decision mak |
| When projects are typically initiated | market demand, strategic opportunity/business need, social need, environmental consideration, customer request, technological advancement, legal or regulatory req, existing or forecasted problem. |
| a Phase | collection of logically related activities that add up to completion of 1+ deliverables. Sequential, iterative, or overlapping. Phases are time bound w/ control points (aka phase review, phase gate, control gate etc). Charter, docs, performance reviewed |
| Who assigns a project manager and Why | assigned by performing organization to lead the team responsible fo achieving project objectives |
| Interpersonal Skills needed for project management | leaderships, team builidng, motivating, communicating, influencing, decision making, political/cultural awareness, negotiating, facilitating, managing conflict, coaching |
| Succes for a project manager | is when objectives are met, and stakeholders are satisfied. So a PM must tailor the project approach, life cycle, and PM process to meet project and product requirements |
| process groups are Not project phases | if a project is divided to phases, the processes in each group only interact within each phase. Process groups are repeated as necessary in each phase until completion criteria have been satisfied |
| Tailoring is necessary bc each project is unique. Part of tailoring is the PM and team Identifying the project management Components needed for a particular project | select appropriate processes, inputs, tools, techniques, outputs, EEFs, OPAs for use on specific project. PM plan components are subsidary manage plans (to do with the KAs), baselines, description of project life cycle. PM plan = input. Updates = output |
| Project Documents are other documents not part of the project management plan | PM is accountable for what docs are needed for a process and what will be updated an output of a process |
| Business Documents | documents originating outside of project and used as inputs to the project (ie, business case and benefits management plan). Use depends on the company culture and project initiation process |
| Minimum Attributes of a project manager should have | knowing business environment, technical aspects, info needed to manage effectively, skills to lead team, collab with stakeholders, problem solve, make decisions, develop/manage knowledge areas, presentations, reports, personality, attitude, and ethics |
| Integration (knowledge area) | to coordinate processes and activities within the process groups |
| Scope (knowledge area) | all work and only work required to complete the project |
| Cost (knowledge area) | within approved budget |
| Quality (knowledge area) | doing all processes in order to meet stakeholders expectations |
| Resource (knowledge area) | identify, acquire, and manage resources needed for successful completion |
| Communications (knowledge area) | ensure timely disposition of project information |
| Risk (knowledge area) | the process of planning, identifying, analysis, response plans, response implementation, and monitoring the risk of a project |
| Procurement (knowledge area) | the process to purchase/acquire products services or results needed from outside the project team |
| Stakeholder (knowledge area) | to effectively engage stakeholders in project decisions and execution |
| Schedule (knowledge area) | timely completion of the project |
Created by:
Hamncheese52
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