PM1 Flashcards
We live in a world where change—and the rate of change—is constantly increasing. In order to survive and prosper, organizations need to
continually modify their products and services. Projects are the means by which these innovations are delivered.
Managing projects is different from managing ongoing operations because
Every project has a start and finish, and every project is unique.
project management has become a
strategic capability for organizations and a popular career track for individuals
Greater change =
more innovations = more projects.
project managers are
optimists, pragmatic problem solvers, and team‐oriented servant leaders
Global turbulence from a pandemic, economic upheaval, revolutionary innovation, and environmental crisis underscore the need for
pragmatic and visionary leadership in a world of constant change
organizations need leaders who can
synthesize facts and assumptions to set a direction.
Project management is
a set of critical thinking and communication tools to navigate the ever‐increasing avalanche of change that surrounds us.
when done well, is a triumph of human cooperation and critical thinking.
is a discipline—a set of methods, theories, and techniques that have evolved to manage the complexities of work that is unique and temporary
project manager’s primary responsibility is
as a leader of diverse stakeholders,
who turns visions of what might be into tangible products and services
Technological innovation is
a relentless engine of growth and destruction.
We are constantly transforming our global civilization in
tiny increments. One project at a time.
Innovation means
bringing a fresh solution to a problem that matters to people. Innovation is always built on projects. Innovation is a must‐have capability for every organization. We do not all need to be inventors, scientists, and software developers to innovate.
Projects are all the
work we doone time. Whether it’s designing an aircraft, building a bakery display case, or creating a business logo, every project produces an outcome and every project has a beginning and an end.Fundamental to understanding the importance of projects is realizing that each one produces something unique.
The challenge of managing projects is to lead a disparate group of people to make good decisions, over and over, as they make something new.
Manufacturing and other repetitive processes are defined as
Manufacturing and other repetitive processes are defined as ongoing operations.
The challenge of managing operations is to become highly proficient at known tasks.
Project communication tools helpus with a range of leadership duties:
Communicating with team members and stakeholders from project conception through completion.
Estimating the effort, cost, and time it will take to deliver a project, and evaluating whether the benefits of the project will justify the forecasted costs.
Rapidly building cohesive project teams that are highly productive even though team members have not worked together before.
Coordinating the actions of a diverse workforce, assembled specifically for a project, to achieve the goal for the least possible expense and in a reasonable time frame.
Accounting for progress and productivity to provide accurate forecasts of project completion dates and budget amounts.
Managing the varying staffing needs that result from continually running multiple projects concurrently, all of which share a common pool of personnel.
The tools of project management help people make rational decisions based on objective information.
project management toolset helps us navigate
project management toolset helps us navigate uncertainty and turn dreams into realities.
project managers alone can’t carry the burden of creating mature organizations whose project management capability produces a strategic advantage.
leaders at every level must be able to speak the language of project management.
Top level leaders or Executives select projects. They also stand behind projects as
champions or sponsors, overseeing project progress and providing advice to the project manager and team, ultimately accountable for its success and are also accountable for the project portfolio, the collection of all active projects that have been selected as the best way to achieve the organization’s goals.
Middle level leaders or Functional managers sponsor
lead, or oversee projects within their departments. They make decisions about project priorities as they assign their staff to project teams.
Bottom level team members when they understand
project management make the entire project run more smoothly. They make the project manager more effective because they make better estimates, identify risks, and participate in planning and problem‐solving.
part‐time project leaders tend to be senior staff and functional managers tasked with leading smaller or part‐time projects. They don’t want
the project manager title or career path. But they still need to clarify goals, make practical plans, and communicate regularly. These people view project management as one more set of tools that make them effective leaders.
As the new normal is continuous transformation the ability to
navigate new territory is the most enduring skill
Twenty‐five years ago successful project was
on time, on budget, and delivered to specification. But times change. Too many projects have “delivered to specification” without actually being valuable to the organization that paid for them. The most common offenders have been expensive information technology (IT) projects that produced reports or systems that didn’t make a positive difference or it didn’t solve the real problem
Any project team that focuses only on delivering the specified product
but loses sight of the context of the project can be guilty of failing to deliver value
project manager should understand the business case—why was this project approved and the perception of who the stakeholder is
After all, if a solution to my part of the organization causes pain to your part of the organization, have we made things better or worse?
change control addresses
controlling changes to scope, schedule, budget, and other previous agreements.
change management has a growing role on project teams and refers to
assisting affected people to change their behaviors in support of the project goal thereby leading to project solutions being accepted and used and achieving their potential, planned and desired impact.
when project managers see their job as
leading change that delivers business value, they realize the bigger picture and increase their contribution to their employer and to all stakeholders.
the science of project management provides a
foundation for the art of leadership
the best project managers are also outstanding leaders. They have
vision, they motivate, they bring people together, and, most of all, they accomplish great things.
project management is a skill that can be taught and learned. certain characteristics are consistently found on successful projects in every industry. Boiled down, they consist of these five project success factors
- Agreement among the project team, customers, and management on the goals of the project
- A plan that shows an overall path and clear responsibilities and that can be used to measure progress during the project. It contains the details for estimating the people, money, equipment, and materials necessary to get the job done. And because the plan is the basis for measuring progress, it can also act as an early warning system for tasks that are late or over budget.
- Constant, effective communication among everyone involved in the project. A successful project is a result of people agreeing on goals and then meeting them.
- A controlled scope. successful project manager will ensure that everyone involved understands exactly what can be accomplished within a given time frame and budget. This is called managing stakeholder expectations.
- Management support. Project managers rarely have enough formal authority to make all the decisions it takes to complete a project. They rely on people in traditional management roles to supply people and equipment, make policy decisions, and remove organizational obstacles.
Success comes from persistent use of the science of project management, as well as
art, which is immensely important. Art encompasses political and interpersonal skills, making creative decisions when complete information is lacking, knowing intuitively when to delegate work, and more. But learning the basic science is requisite to practicing this art.
Project management can be viewed as
the ability to inspire a team to achievement, to make tough choices, and to act with integrity when mistakes are made.To grow, we must recognize the difference between knowing the science and practicing the art.
The art of project leadership embodies skills that are gained through
experience, sensitivity, and a thorough knowledge of the basic science of management. Learning the basics of project management can be your first step on the road to becoming a skilled and inspiring leader.
Project management is about how
to get agreement on goals and how to reach them, how to enlist team members and project sponsors, how to negotiate schedules and budgets, and how to reduce risk and increase the odds of success.
What do we have to do to make money?
Build a product, business infrastructure, and sales and marketing distribution structure
oft‐used warning about scope creep
Let’s not try to solve world hunger
