Professional Documents
Culture Documents
What is a project?
Project a temporary endeavor undertaken to create a unique product, service, or result. PMBOK Guide A project requires an organized set of work efforts. Projects require a level of detail that is progressively elaborated upon as more information is discovered. Projects are subject to limitations of time and resources such as money and people. Projects have a defined beginning and ending.
What is a project?
A project has a unique combination of stakeholders
stakeholders persons or organizations that are
actively involved in the project, or whose interests may be positively or negatively affected by the project.
PMBOK Guide
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Understanding Projects
Several frameworks that help a person understand project management include:
The professional association Project Management Institute (PMI); The Project Management Body of Knowledge (PMBOK) How companies use project management as a system What constitutes both project success and failure The range of project types commonly used in business today The hierarchical manner in which portfolios, programs, projects and sub-projects are organized.
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Project management process group a logical grouping of the project management processes described in the PMBOK Guide. Collectively, these five process groups are required for any project, have clear dependencies, and must be performed in the same sequence on each project, independent of the application area or the specifics of the applied project life cycle. PMBOK Guide
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Successful Projects
Project success is creating deliverables that include all of the agreed upon features Outputs please the projects customers. Customers use the outputs effectively as they do their work (meet quality goals) The project should be completed on schedule and on budget (meet time and cost constraints). Completed without heroics People who work on the project should learn new skills and/or refine existing skills. Organizational learning should take place and be captured for future projects. Reap business-level benefits such as development of new products, increased market share, increased profitability, decreased cost, etc.
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Types of Projects
Classifying by industry Classifying by size Classifying by timing of determination of project scope Classifying by application
Classifying by Industry
Projects in different industries often have unique requirements PMI specific interest groups
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Classifying by Size
Large projects often require more detailed planning and control
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Portfolios
Multiple projects may be underway at the same time Each project in the portfolio should have a direct impact on the organization.
Portfolio a logical grouping of the project management processes described in the PMBOK Guide. Collectively, these five process groups are required for any project, have clear dependencies, and must be performed in the same sequence on each project, independent of the application area or the specifics of the applied project life cycle. PMBOK Guide
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Portfolios
Portfolios should be balanced including:
large and small projects high-risk high-reward and low-risk projects projects that can be completed quickly and some that will take substantial time to finish.
Programs
Programs may last as long as the organization lasts Specific projects within a program are of limited duration Project managers are concerned with the tradeoffs of cost, schedule, scope, and quality on their individual projects The program manager is concerned with making tradeoffs between projects for the maximum benefit of the entire program.
Program a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of work outside of the scope of discrete projects in the program. PMBOK Guide
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Programs
Programs deal with a specific group of related projects A portfolio deals with all of an organizations projects. A portfolio can include multiple programs as well as multiple projects. Portfolios and programs are managed at a level above the typical project manager
Subproject a smaller portion of the overall project created when a project is subdivided into more manageable components or pieces. PMBOK Guide
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Project Roles
Project Executive-Level Roles Project Management-Level Roles Project Associate-Level Roles
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Sponsor the person or group that provides the financial resources, in cash or in kind, for the project. PMBOK Guide
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Project schedule the planned dates for performing schedule activities and the planned dates for meeting schedule milestones. PMBOK Guide Budget the approved estimate for the project or any work breakdown structure component or any schedule activity. PMBOK Guide
Monitor and control project work the process of monitoring and controlling the processes required to initiate, plan, execute, and close a project to meet the performance objectives.. PMBOK Guide Close project the process of finalizing all activities across all of the project process groups to formally close a project or phase. PMBOK Guide
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Summary
A project is an organized set of work efforts undertaken to produce a unique output subject to limitations of time and resources such as money and people Project management includes work processes that initiate, plan, execute, control, and close project work. Tradeoffs must be made between the scope, quality, cost, and schedule All projects, regardless of size, complexity, or application, need to be planned and managed. PMI is a very large professional organization devoted to promoting and standardizing project management understanding and methods
Summary
A Guide to the Project Management Body of Knowledge (PMBOK Guide), is composed of five process groups: initiating, planning, executing, monitoring and controlling, and closing along with nine knowledge areas: cost, time, scope, quality, risk, communications, Human Resources, procurement, and integration. Successful projects require an understanding of what project success is and what drives it Successful projects require an understanding of project failure and its major causes. Project management requires an understanding of the various executive, managerial, and associate roles in project management
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