Section 5: Project Management Principles Flashcards
What are project management principles?
-Foundational guidelines for strategy, decision making, and problem solving
-Professional standards and methodologies are often based on principles
-Principles for project management provide guidance for the behavior of people involved in projects
What is the PMI Code of Ethics and Professional Conduct?
Principles can, but do not necessarily, reflect morals.
A code of ethics is related to morals.
A code of ethics for a profession can be adopted by an individual or profession to establish expectations for moral conduct. PMI is based on four values:
-Responsibility
-Respect
-Fairness
-Honesty
Project vs General Management Principles
Principles of project management can also have areas of overlap with general management principles.
12 Principles of Project Management?
- Be a diligent, respectful, and caring steward
- Create a collaborative project team environment
- Effectively engage with stakeholders
- Focus on value
- Recognize, evaluate, and respond to system interactions
- Demonstrate leadership behaviors
- Tailor based on context
- Build quality into processes and deliverables
- Navigate Complexity
- Optimize risk responses
- Embrace adaptability and resiliency
- Enable change to achieve the envisioned future state
What is Stewardship?
The act of taking care of, or managing something, for example property, an organization, money or valuable objects.
Stewards act sensibly to carry out actions with integrity care and trustworthiness while keeping compliance with internal and external guidelines. They demonstrate a broad commitment to financial, social, and environmental impacts of the projects they support.
Stewardship has responsibilities both within and external to the company.
Four main elements of being a good Steward
Integrity - behave honestly and ethically
Care - fiduciaries of the organizational matters in their charge, and they diligently oversee them.
Trustworthiness
-represent themselves, their roles, their project team, and authority accurately, both inside and outside the organization.
Compliance
-Comply with laws, rules, regulations, and requirements.
A holistic view of stewardship considers financial social technical and sustainable environmental awareness.
How do you create a collaborative project team?
TEAM
Projects are done by project teams.
Made up of people with diverse skills, knowledge, and experience.
Project teams that work collaboratively can finish a shared objective more effectively and efficiently than individuals working on their own.
Project teams work within organizational and professional cultures and guidelines often establishing their own local culture.
A collaborative project team environment facilitates alignment with other organizational cultures and guidelines, individual and team learning and development and optimal contributions to deliver desired outcomes.
What can we do to affect teams?
Team Agreements - represent a set of behavior parameters.
Organizational structures - project teams use, tailor, and implement structures that help.
Processes - define processes that enable completion of tasks and work assignments.
How do you create a collaborative team environment?
Transparency on roles, responsibilities can improve team cultures
Authority - the order of having the right within a given context to make relevant decisions, establish or improve procedures, apply project resources, expend funds, or give approvals.
Accountability - the condition of being answerable for an outcome. Accountability is not shared.
Responsibility. The condition of being obligated to do or fulfill something. Responsibility can be shared.
A diverse project team can develop the project atmosphere by bringing together different perspectives.
Teams should incorporate practice standards, ethical codes, and other guidelines as a part of the professional work within the project team and org.
A collaborative project team environment promotes free exchange of information and individual knowledge.
Adaptability & Resiliency
Adaptability vs Resiliency
- Adaptability is the ability to respond to changing conditions
- Resiliency is the ability to absorb impacts and to recover qucklly from a setback or failure.
Adaptability & Resiliency
What should we realize about projects?
Projects rarely go exactly as planned.
Build adaptability and resiliency into project team’s approach.
Focus on outcomes rather than outputs to facilitate adaptability.
Projects are influenced by both internal and external factors. New requirements, issues, stakeholder influence, which exist in a system of interactions.
Adaptability & Resiliency
How to embrace adaptability and resilience.
- Short feedback loops to adapt quickly
- Continuous learning and improvements
- Regular inspection and adaptation.
- Open and transparent planning that engages stakeholders
- Small-scale prototypes and experiements
- Open organizational conversations
- Diverse project teams with broad skill sets, cultures and experience
- Understanding from past learning.
Adaptability & Resilience
What does adaptability and reslience promote?
Building adaptability and resiliency in a project keeps project teams on track to the desired outcome when factors change and it helps recovery from setbacks.
These features also help project teams learn and imporve so that they can quickly recover from failures or setbacks and continue making progress toward delivery value.
Change
How can you enable change to achieve the envisioned future state?
- Prepare those impacted for acceptance to go from the current state to the intended future state created by the project output.
- A structured approach will help individuals groups, and othe org transition from current state to a future desired state.
- Change can originate from internal influences or external sources.
- Enabling change can be challenging as not all stakeholders embrace change.
- Attempting too uch change in short time can lead to change fatigue and resistance
- Stakeholder engagement and motivational approaches assist in change adoption.
Remaining relevant in today’s business environmnt is a fundamental challenge for all organizations.
* Change in an organization can originate from internal sources and external sources
* Effective change management uses a motivational strategy rather than a forceful one.
* Knowing and addressing needs of stakeholders to embrace change throughout the project life cycle helps to integrate the resulting change in the project work, making a successful outcome more likely.
Project Performance Domains
What are domains?
Group of related activities that are critical for the effective delivery of project outcomes.
they are interactive, interrelated, and interdependent areas of focus that work in unison to achieve desired project outcomes.
They operate as an integrated system, with each domain being interdependent of the other domains to enable successful delivery of the project and its intended outcomes.
The specific activities undertaken within each of the performance domains are determined by the context of the organization the project, delvierables, the project team, stakeholders, and other factors.
Project Performance Domains
What are the Principles of Project management?
- Good stewardship
- Foster collaboration
- Effective Engagement
- Value-Focused
- System interaction awareness
- Demonstrate Leadership
- Tailor projects based on context
- Build Quality into Process and Deliverables
- Navigate Complexity
- Optimize Risk Responses
- Embrace Adaptability & Resiliency
- Enable Change to Achieve
Project Performance Domains
What domains are impacted by principles of project management?
- Stakeholders
- Team
- Development Approach and Life Cycle
- Planning
- Project Work
- Delivery
- Measurement
- Uncertainty
Performance Domain
Stakeholders
Addresses activities and functions associated with stakeholders.
A productive working relationship with
stakeholders throughout the project.
Stakeholder agreement with project
objectives.
Stakeholders who are project beneficiaries are supportive and satisfied while stakeholders who may oppose the project or its
deliverables do not negatively impact project outcomes.
Defining and sharing a clear vision at the start of the project can enable good relationships and alignment throughout the project.
Performance domain
Effective engagement of STAKEHOLDERS
Effective Engagement:
Identify
* Identification is done throughout the project to understand who your stakeholders are, both internal and external.
Understand and Analyze
* the project manager and the project team should seek to understand stakeholders’ feelings, emotions, beliefs, and values.
Prioritize
* Focus on stakeholders with the most power and interest as one way to prioritize engagement.
Engage
* Entails working collaboratively with stakeholders to introduce the project, elicit their requirements, manage expectations, resolve issues, negotiate, prioritize, problem solve, and make decisions.
Monitor
* Throughout the project, stakeholders will change as new stakeholders are identified and others cease to be
stakeholders.
Performance Domain
Team
Deals with activities and functions associated with the people who are responsible for creating project deliverables that realize business outcomes.
Outcomes includes:
◦ Shared ownership
◦ A high-performing team
◦ Appropriate leadership and other interpersonal skills
This performance domain entails establishing the culture and environment that enables a collection of diverse individuals to evolve into a high-performing project team.
Terms used in this domain made of:
◦ **Project Manager: ** Assign by the business to lead the team and is responsible for accomplishing the project objectives
◦ Project Management team: People who are directly involved in project management activities◦ Project Team: A group of individuals performing the work of the project to achieve its purposes
What are project management principles?
Foundational guidelines for strategy, decision-making, and problem-solving in projects.
What are the four values of the PMI Code of Ethics?
Responsibility, Respect, Fairness, Honesty.
What are the 12 principles of project management?
(1) Stewardship, (2) Collaborative Team Environment, (3) Stakeholder Engagement, (4) Focus on Value, (5) System Thinking, (6) Leadership, (7) Tailoring, (8) Quality Processes, (9) Navigating Complexity, (10) Risk Optimization, (11) Adaptability, (12) Enabling Change.
Why is stewardship important in project management?
Ensures integrity, trust, compliance, and a commitment to financial, social, and environmental impacts.
How can project teams create a collaborative environment?
By setting team agreements, defining clear roles, establishing trust, and enabling open communication.
Why is stakeholder engagement crucial?
Stakeholders impact scope, budget, outcomes, and success; engagement ensures alignment and buy-in.
What is systems thinking in project management?
A holistic approach to understanding how different project components interact and influence outcomes.
How does leadership differ from authority in project management?
Leadership involves influence, motivation, and vision, while authority is the formal power to make decisions.
Why is tailoring necessary in project management?
Each project is unique, and tailoring ensures processes fit the project’s specific needs.
How can projects adapt to change effectively?
By incorporating adaptability and resilience, using iterative feedback loops, and fostering continuous learning.
What is a project?
A temporary endeavor that produces a unique product, service, or result.
What is the difference between project, program, and portfolio management?
A project is a single effort, a program is a group of related projects, and a portfolio is a collection of projects and programs.
What is the role of a project manager?
Planning, executing, monitoring, and closing projects while managing risks, changes, and stakeholders.
What are the key project constraints?
Scope, Schedule, Cost, Risk, Quality, and Resources.
What are the key project phases?
Initiation, Planning, Execution, Monitoring & Controlling, and Closing.
Who are key project stakeholders?
Project Manager, Customer, Team, Sponsor, Functional Manager.
What are the two main project management approaches?
Predictive (Waterfall) and Adaptive (Agile).
What is the difference between product and project management?
Product management focuses on the lifecycle of a product, while project management focuses on delivering a specific goal within constraints.
What is a milestone?
A significant event in a project that marks a major achievement or phase completion.
What is the purpose of a Project Management Office (PMO)?
Standardizing processes, providing support, and ensuring governance.
What are project performance domains?
Interdependent areas of focus that work together to achieve project success.
What is the stakeholder performance domain?
Managing relationships and engagement with stakeholders throughout the project.
How can stakeholder engagement be improved?
Identify, Understand, Analyze, Prioritize, Engage, Monitor.
What defines a high-performing project team?
Open communication, trust, collaboration, adaptability, empowerment, and shared ownership.
What is servant leadership in project management?
A leadership style focused on developing and supporting the project team.
What is the development approach and life cycle performance domain?
Selection of appropriate development methods (Predictive, Agile, Hybrid) and structuring the project lifecycle.
What is the planning performance domain?
Ensures the project moves in an organized and deliberate manner while adapting to changes.
What is the project work performance domain?
Managing project activities, resources, and learning processes efficiently.
How does project delivery impact success?
Ensuring scope and quality expectations are met and stakeholders are satisfied.
What is the measurement performance domain?
Monitoring project progress using KPIs, dashboards, and metrics.
What is the uncertainty performance domain?
Identifying and managing risks, ambiguity, complexity, and volatility to keep the project aligned with objectives.
