Chapter 1: Introduction to Project Management Flashcards
What is a project?
*A temporary endeavour undertaken to create a unique product, service or results.
* Operations: work done to sustain the business
* Projects ends when their objectives have been reached or the project hat been terminated
Project attributes (7)
-Has a unique purpose
-Is temporary
-Drives change and enables value creation
-Is developped using progressive elaboration or an iterative fashion
-Requires resources, often from various areas
-Should have primary customer or sponsor
-Involves uncertainty
-> Project sponsor usually provides the direction and the funding for the project
-> Project managers work with the project sponsors, the project team and the other people involved in a project to define, communicate and meet project goals
Project constraints / The magic triangle
-Scope: What work will be done as part of the project?
-Schedule: How long should it take to complete the project?
-Cost: What should it cost?
-> schope, schedule & cost are always in tension, it’s called a triple constraint
Other project constraints
-Technical constraints
-Quality
-Availability of key resources
-Risk
-Customer satisfaction
-Stakeholders
-Statutory regulation
-Sustainability
-Ethics
-Organizational structure and processes
-Methodologies
Project success / Different ways to define project success (5)
-The project provided value
-The project met scope, schedule and cost requirements
-The project satisfied the customer
- One method used to measure customer satisfaction is net promoter score -> a number that represents a customer’s wilingness to recommend a product or a service to others
- The project produced the desired results
Project Management
-The use of knowledge, skills, tools & techniques to project activities to meet project requirements
Project Management Framework
*Stakeholders with needs and expectations
*5 process groups
- initiating
- planing
- executing
- monitoring & controlling
- closing
*10 knowledge areas
- scope
- schedule
-cost
-quality
-resources
- communication
-risk
-procurement
-stakeholders
- integration
* Tools and techniques
* Project success -> enteprise success
Project management knowledge areas
Project Integration management
Project Scope management
Project Schedule management
Project Cost management
Project Quality management
Project Ressources management
Project Communication management
Project Risk management
Project Procurement management
Project Stakeholders management
Project Integration Management
Project integration management is an overarching function that coordinates the work of all other knowledge areas
Project Scope Management
Project scope management involves working with all appropriate stakeholders to define, gain written agreements for, and manage all the work required to complete the project succesfully.
Project Schedule Management
Project schedule management includes estimating how long will it take to complete the work, developing an acceptable project schedule given cost-effective use of available resources and ensuring timely completion of the project.
Project Cost Management
Project cost management consists of preparing and managing the budget for the project
Project Quality Management
Project Quality Management ensures that the project will satisfy the stated or implied needs for which it was undertaken.
Project Resource Management
Product Resource Management is concerned with making effective use of the people and physical resources for the project
Project Communication Management
Project Communication Management involves generating, collecting, disseminating and storing people information
Project Risk Management
Project Risk Management includes identifying, analyzing and responding to to risks related to the project
Project Procurement Management
Project procurement management involves acquiring or procuring goods and services for a project from outside the performing organizations.
Project Stakeholders Management
Project Stakeholders Management focusses on identifying project stakeholders, understanding their needs and expectations, and engaging them appropriately throughout the project.
Project Management Tools & Techniques
- Project charters, scope statements, WBS
- Gantt chatts, network diagrams, critical path analysis
- Net present value, cost estimates, and earned value management
- Agile project often requires product roadpmaps, backlogs, burndown charts, retrospectives
Programs
*A group of related projects, subsidiary programs and program activities managed in a coordinated manner to obtain benefits not available from managing them individually
* tactical goals
- Are we carryint out projects well?
- Are projects on time and budget?
*A programm manager provides leadership & direction for the project managers heading the projects within the program
Portfolio
*Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives
*Strategic Goals
- Are we working on the right project
- Are we investing in the right areas?
Project Lifecycle / Development approaches
*Preditice -> Hybrid -> Adaptive
* increasingly iterative and incremental
Agile / Adaptive
used to describe an approach where the project scope cannot be well defined upfront, incremental released are desired and changes are expected
Predictive / Waterfall / Traditional
used to describe an approach where most of the project planning is done upfront, there is a single final product, service or result delivered at the end of the project, change is constrained, costs and risks are controlled, and stakeholder are involved at specific milestones
