Day 2 Project Management FrameWork

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Project Management Frame Work

Day 2 Project Management FrameWork :

 

 

 

• PMBOK Key Terms
• Project Life Cycle and Organization

 

PMBOK Key Terms

• " A Project  is a temporary endeavour undertaken to create a unique product, service or result"

• "Project Management is the applicatication of knowledge, Skills, tools and techniques

to project activities to meet project requirements"

 

Project Characteristics

Temporary

• Has a definite beginning  and a definite end.
• It does not necessarily mean short in duration.
• Projects are not ongoing efforts.
• Team members disable and reassigned when project ends

Uniquieness 

• A quantifiable product or artefact that is produced.
• A capability to perform a services such as business functions supporting product.
• A result such as outcomes or documents in a research.

Progressive Elaboration 

• Developed in steps and continuing by increments
• Broadly described in beginning but made more explicit and detailed as the project team

develops a better and more complete understanding of the requirements and deliverable.

 

Projects Vs Operations

Projects: temporary and unique.
Operations: ongoing and repetitive

Similarities:

• Performed by people
• Constrained by limited resources
• Planned, executed, controlled

Projects from a PMI perspective are large projects.


 large projects mean large in scale from PMI perspective

For example:

• Where you  have 200+ people working on the site
• Works is being done round the clock, in 4 different countries
• In 4 different time zones. 
• The Work force have different cultures, beliefs, religions etc.
• 
  

• When you think of such a large scale, you have to plan for every small detal

How to communicate, how to enforce standards, qualify , ethics?

 Projects

• Projects conclude when specific objectives have been attained
• Undertaken at all levels of the organization
• Involve a single person or many thousands
• Duration ranges from few weeks to several years
• Can involve one or many organizational units

Example of Projects 

• Developing a new product or service
• Building a water system for the community
• Implementing a new business procedure or process
• Responding to a contract solicitation
• Effecting a change in the structure of the organization

  PMP Exam Question:

Your company is in the business of creating dolls for kids in the age group 2-6 year of age
It is planning to introduce an "Executive Doll" in 3 colours, and with separate accessories for
the make up and 5 different dresses for the days of the week. The new products will begin to sell from christmas onwards and will sell indefinitely. How would you define the situations?

A) This is a Project because this New Doll has never been manufactured before by the company.
B)This is an ongoing operation, because the company is the business of manufacturing dolls,
and this is just a new model of the same basic doll.
C) This can not be considered a " project"  or a " process". This is simply a new product, introduction, and does not interfere with operations.
D) This is recurring process because the doll will be sold indefinitely.

Reasons Projects are Authorized

Driving forces are problems, opportunities or business requirements:

• Market demand (build electric cars.......)
• Organizational need ( Create new products to market)
• Customer request (Create a new condo or block)
• Technological advancement (Smaller, lighter hard disks)
• Legal requirements (disposal of toxic waste)
• Social needs (Green..)

Project management:

Accomplished  through the application and integration of 5 PM process groups:

• Initialting
• Planning
• Executing
• Controlling
• Closing

Project Management include the following:

• Identify requirements
• Establish clear and achievable objectives
• Balance competing demands for quality, scope, time, cost, resources, risk etc.
• Adapt specs, plans and approach to different concerns and expectations of different

stakeholders

• Manage response to uncertainty risks

Question: The de factory Standards for Project Management techniques have been set by:

A) PMO

B) Each organization on their own

C) PMI

D) PMBOK

Triple Constraints of a Project:

• Project Management often talk about a "Triple Constraint" in managing competing project

requirements

• Triple constraint means project Scope, Time and Cost.
• Project Quality is affected by balancing these three factors.
• If one of the factor is affected, the project quality will be affected.
• Attain customer satisfaction from good quality.

• The main purpose of a Project Manager is:
• To deliver the required product, service or result within scope, on time and within budget.

In Large project, there are actually more than just 3 project constraints.

• Risk
• Resources
• Quality
• Customer Satisfaction
• Time 
• Cost 
• Scope

Question: The holy grail of project management Consists of the " Triple Constraints". There are:
A) Time, Cost & Quality.
B) Quality, Customer Satisfactions and Timeliness
C) Cost, Human Resources and integration with customers.
D) Scope, Cost , Time.

Area of Expertise needed by Project Team

Application Area Knowledge,Standards and Regulations

Not Common to all projects; comprises:

• Functional departments & Supporting disciplines
• Technical elements
• Management Specializations
• Industry groups

Standards:
Guidelines approved by recognized body

Regulations:
Requirements imposed by authorities

Different organization levels can mandate compliance

Understanding the Project Environment 

Project have intended/unintended positive or negative impacts on:

• Cultural and Social environment
• International and political environment
• Physical environment.

General Management Knowledge & Skills:

• Financial Management & Accounting
• Purchasing & Procurement
• Sales & Marketing
• Contracts & Commercial law
• Manufacturing & Distribution
• Logistics & Supply chain
• Strategic, tactical & organisational planning
• Organization structure & HR Functions
• Health & Safety practices
• Information Technology

Interpersonal Skills:

• Effective Communication
• Influencing the organization
• Leadership
• Motivation
• Negotiation and Conflict management
• Problem solving

Project, Program, Portfolio:

• A program is a group of related projects. Their management is coordinated because

they are related. This gives benefits and control not available from managing them 

individually.

• Programs may include work outside the scope of the discrete project in the program.
• A project may or may not be a part of a Program, but a program will always have projects.
• Portfolio is collection of projects or program grouped together to facilitate effective Management of the work and meet strategic business objectives (like Maximizing the return of Investments.)

• The programs may not be related other than the fact that they are helping to achieve the 

common strategic goal.

Portfolio:

•  Collection of project or programs that meet strategic business objectives
• Not necessarily interdependent or related

Program: 

• Group of related projects managed in a coordinated way, with synergistic benefits
• May involve cyclical undertalkings

Sub project:

•  Component of a project often contracted to external party or functional unit
• Based on process, skills requirements, or technology

Question: All of the following statements are true except for:

A) A project may or may bot be part of a program.

B) programs are group of related Projects.

C) A Portfolio is a group of related projects or programs.

D) A Program is a group of related Projects.

PM Context:

PM Context:

Project Management office (PMO)

• An organizational unit to centralize and coordinate management of projects in the organizations.
• Not a person.
• Focuses on coordinated planning, prioritization and execution of projects / programs, including the management of shared resources

• May be supportive in function or may receive delegated authority.

"Management by projects"

• An org managerial approach that mimics PM principles and Culture (eg: Magazine Publishing)

Constraint:

• An applicable restriction that will affect the performance of the project.

• Example: predefined budget, contractual provisions, labour union requirements, organizaion

Structure of performing organization.

Assumptions:

• Are things that are expected to be true but may not be true 
• Project teams often identify, document and validate assumptions as part of their planning process
• Create Risk

Standard VS. Regulation

Standard:

• A document approved by a recognized body that provides for common and repeated use,

rules, guidelines for products. Processes or services with which compliance is not mandatory

Standards start out as guidelines and later with widespread adaptation becomes accepted as if they were regulations

Regulation:

• A document which lays down product, process or service  characteristics, including the

applicable administrative provisions, with which compliance is mandatory.

Question:

A Project is considered successfully when.............................................

A) The Project meets or exceeds the expectations of the customer.
B) The Sponsor announces that the project is considered complete.
C) The Product of the project has been manufactured.
D) The Product of the Project is handed over to operations to handle the ongoing 
operational work of the project.

End of Project Management Framework - Key PMBOK Terms

Questions ???