Chapter 7 Flashcards
Project management
Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
Program Management
Managing multiple related projects in a coordinated way to achieve benefits not available from managing them individually
Portfolio Management
Selecting, prioritizing, and controlling an organization’s projects and programs in line with its strategic objectives and capacity to deliver.
Role of project manager
manage schedule
manages budget
manage scope
initiates project
get resources
ensure quality
manages stakeholders
closes project
- Manage Schedule: organizes and tracks project timelines to ensure timely completion.
- Manage Budget: Oversees financial resources, keeping project expenses within the allocated budget.
- Manage Scope: Defines and controls the project’s objectives and deliverables to prevent scope creep.
- Initiates Project: Launches the project by setting goals, defining tasks, and assembling the team.
- Get Resources: Secures necessary personnel, tools, and materials for project execution.
- Ensure Quality: Ensures that project deliverables meet the required quality standards.
- Manages Stakeholders: Engages with stakeholders to align their expectations and secure their support.
- Closes Project: Finalizes all activities, delivering the project and ensuring all objectives are met.
Roles of project manager
Planning:
The project manager carefully develops comprehensive project plans, outlining objectives, timelines, resources, and milestones to ensure a clear roadmap for project execution.
Organizing
: In this role, the project manager efficiently allocates tasks, resources, and responsibilities among team members, creating a structured framework for project implementation.
Leading:
As a leader, the project manager inspires and motivates the team, providing guidance, resolving conflicts, and fostering a positive work environment to drive project success.
Controlling
The project manager continuously monitors project progress, comparing actual performance against planned objectives, and implements corrective actions when necessary to keep the project on track.
Stakeholder Management
: The project manager skillfully engages with various stakeholders, managing their expectations, communicating project status, and ensuring their needs are addressed throughout the project lifecycle.
Quality Assurance
Ensures that project deliverables meet the required quality standards by implementing and overseeing quality control processes
Budget Management:
The project manager carefully oversees the project’s financial aspects, managing budgets, tracking expenses, and ensuring cost-effective resource utilization.
Oversees financial resources, keeping project expenses within the allocated budget.
Time Management
Effective scheduling and time allocation are critical, with the project manager ensuring tasks are completed within set timeframes and the overall project adheres to its timeline.
Communication
As the central point of information flow, the project manager facilitates clear and consistent communication among team members, stakeholders, and other relevant parties.
Five Major Project Phases
1 initiation
: Defining the project, obtaining authorization, identifying stakeholders.
2 planning
Establishing the project scope, objectives, and procedures; developing a detailed project plan.
3 execution
Coordinating people and resources to carry out the plan, producing project deliverables.
4 monitoring & controlling
Tracking progress, comparing actual performance with planned performance, making adjustments as necessary.
5 closure
Finalizing all project activities, handing over deliverables, releasing project resources, and conducting a post-project review.
Planning is crucial stage in PM which outlines
Scope
Objectives and goals
Timelines
Resources
Milestones …
to ensure a clear roadmap for project execution.
