Module 3: Managing Our Projects: Tools, Best Practices, and Agile 🤸🏻♀️ Flashcards
Project Constraints
limiting factor that affects the execution of a project, program, portfolio, or process.
Artifacts
ANY documents and records related to your project; serve as evidence of the project’s planning, execution, and completion
Project Documents
refer to all of the different documents used to initiate, plan, execute, monitor and control, and close the project thatDO NOTinclude the items that are apart of your project management plan
PMIS
tools that help track and manage your project - think PM software + file repositories + any shared drives
Data Gathering
involves collecting information, a crucial tool in project planning and execution
Data Analysis
aiming to make informed decisions and drive the project forward
Alternative analysis
The evaluation of the different choices available to achieve a particular project management objective. It is an analytical comparison of different factors
Cost benefit analysis
Cost of the proposed actions and the consideration of the benefits the actions will create!
Root cause/causal analysis
Determine what activities, people, organizational processes, or other factors are contributing to an effect - fishbone diagrams or ishikawa are good examples of root cause diagrams.
Trend analysis
Analyzing recurring problems, threats and opportunities
Variance analysis
Differences in planned vs experienced; budget assessment
Data Representation
transforms collected data into visual formats, such as line graphs or diagrams.
Work Performance Data
raw information collected during project execution
Ways of Working
emphasizing diverse disciples and practices to ensure versatility in project execution
Power Skills
focusing on essential skills such as team collaboration, conflict resolution, motivation, and effective communication
Business Acumen
Highlighting the significance of understanding and aligning projects with organizational goals and strategies
INITIATING
The project or phase will get authorization to start. Initiating has 2 processes. It is the smallest of the process groups. The project charter and stakeholder register are the main outputs.
Authorize the project to get started
Assign project manager
Identify stakeholders
Determine business case, objectives, why is the project needed?
Identify very high level estimates for time and costs
Determine high level risks that can affect the project schedule or budget
Identify high level assumptions an constraints
PLANNING
Iterative and ongoing processes to establish the total scope of effort, to define objective, and identify the course of action required to attain those objectives. Main output is creation of the project plan which includes many different planning documents.
Create the project management plan and all of it’s subsidiary plans
Collect requirements from stakeholders
Create and plan out scope, cost, time (all added into project management plan)
Identify risks and create risk planning to mitigate those risks before they happen
Determine what components need to be obtained from outside vendors (procurement planning)
Plan to meet the quality requirements - what does quality in the project mean? how will that be measured/ tracked/ calculated?
Obtain approval of the project management plan
EXECUTING
Getting the project work done, acquire and develop your team, and bring the team together to complete your deliverables (work).
Carry out project work according to project plan
IMPLEMENT change requests (corrective and preventative actions as well as defect repairs and other approved changes)
Select and acquire team members
Manage and resolve conflicts among project stakeholders
Manage quality by conducting quality assurance and improving processes
Update project stakeholders on progress through meetings, reports etc
Select vendors and award contracts (procurement)
Engage stakeholders on the project so they are aware and apart of what is happening
Implement the risk responses
Capture and document the lessons learned (Capturing lessons learned is not an activity limited to project closeout.It is a vital action that project teams should continually perform throughout)
MONITORING AND CONTROLLING
There are 12 processes in M&C. M&C ensures that the project stays on track. You must look at the work getting done and compare it to the original plans, ensuring that the project is on budget, schedule, in scope, to verify, review, and compare. In this process group the project manager is taking corrective actions and may need to enter change requests.
Run checks to ensure that the scope, time, and budget of the project is on track
Ensure quality requirements are met
Control risks by performing risk reviews, reassessments, and audits
Manage and evaluate procurements ensuring work they are completing matches SOWs and agreements
Request changes to ensure project is on track, perform integrated change control, Inform stakeholders of change requests, influence factors that affect changes
Ensure stakeholders are actually being engaged as stated in the stakeholder engagement plan
Measure performance against performance measurement baselines
Analyze performance data
Determine if variances require changes
Create forecasts
Get deliverables formally accepted so the project can move towards closing
CLOSING:
This process group happens after the client or sponsor has accepted the project deliverables. Once deliverables have been accepted, contracts need to be closed out, lessons learned need to be documented and finalized and the completed deliverables need to go through a hand over to project customers, or sponsors.
Confirm work is done and get it accepted by customer/ sponsors
Complete final procurement closure
Archive project documents
Create final reports on the project
Update templates and knowledge basis / PMIS
Delphi Technique
a project management method that involves consulting a group of experts and using systematic feedback rounds to make decisions about complex issues. The technique is based on the idea that collective wisdom is greater than individual knowledge. It’s also known as the “Wide-band Delphi” technique. Can use this for estimating and quantifying costs and risks.
Monte Carlo Simulation
a mathematical technique that predicts possible outcomes of an uncertain event. Computer programs use this method to analyze past data and predict a range of future outcomes based on a choice of action.
PMI Talent Triangle
Business Acumen, Ways of Working, Power Skills
