Week 2: Education Edge PMBOK Office Read - Day 2 Chapter 2 and 3

Week 2: PMBOK Chapter 2 and 3

Project Lifecycle

The project life cycle is a collection of generally sequential and sometimes overlapping project phases whose name and number are determined by

(1) the management and control needs of the organizations involved in the project (2) the nature of the project (3) Its area of application

 

Organizational structures

-Functional
-Matrix (weak (managed by functional manager), balanced (mixed management), strong (managed by project manager))
-Projectized
-Composite (mix of functional, matrix and project)

 

 Project Stakeholder

individual, group or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity or outcome of a project. May be actively involved in the project, or whose interests may be positively or negatively affected by the performance or completion of the project

 

Sponsor

the person or group that provides resources and suport for the project and is accountable for enabling success.

 

Customers/users

the persons or organizations who will approve and manage the project's product, service or result. Users will use the project's product, service, or result.

 

Sellers (vendor, supplier, or contractor)

external companies that enter into a contractual agreement to provide components or services necessary for the project.

 

Functional Managers (as related to stakeholders)

key individuals who play a management role within an admin or functional area of the business, ex: finance, accounting, hr, etc.

 

Project managers

Assigned by the performing organization to achieve the project objectives and is the lead person responsible for communicating with all stakeholders, particularly the project sponsor, project team, and other key stakeholders, and occupies the center of the interactions between stakeholders and the project itself.

 

Project team

Comprised of the project manager and the group of individuals who act together in performing the work of the project to achieve its objectives..

 

Project Governance

An oversight function that is aligned with the organization's governance model and that encompasses the project life cycle. Provides the pm and team with structure, processes, decision-making models and tools for managing the project while supporting and controlling the project for successful delivery. Involves stakeholders, policies, procedures and standards.

 

 

Project Success

Should be measured in termos of completing the project within the constraints of scope, time, cost, quality, resources and risk as approved btwn pm and senior mgmt. PM shall set realistic and achievable boundaries fo the project iot accomplish within approved baselines.

 

Series of phases that a project passes through from its initiation to its closure. Phases can be broken down by functional or partial objectives, intermediate results or deliverables, milestones or financial availability. Can be predictive or plan-driven or adaptive to change driven approach.

 

Generic life cycle structure

-starting the project
-organizing and preparing
-carrying out the project work
-closing the project

 

Characteristics of generic project lifecycle (2-9)

- cost and staffing levels are low at the start, peak as work is carried out and drop at close
-some cost much more at the beginning to acquire needed resources
-risk and uncertainty is greatest at the start of the project, then decrease over lifecycle
-ability to influence the final characteristics of the project's product without significant impact to cost is highest at the start and decreases towards completion

 

Project Phases

project phase is a collection of logically related project activities that culminates in the completion of one or more deliverables.

 

Characteristics of all phases

-work has a distinct focus that differs from any other phase
-achieving the primary deliverable or objective of the phase requires controls or processes unique to the phase or its activities
-closure of a phase ends with some form of transfer or hand-off of the work. Point may be referred to as a stage gate, milestone, phase review, phase gate or kill point. Usually needs to be approved.

 

Phase to phase relationship

Two basic types:
Sequential (reduces uncertainty but can't reduce time for delivery) or overlapping (can fast track but may increase risk and cause rework)

 

- Predictive Life Cycle
-Iterative and Incremental Life Cycles
(start with a vision, intentionally repeat one or more activities in order to incrementally ad to the functionality)
-Adaptive life cycle: used in a rapidly changing environment to respond to high levels of change and ongoing stakeholder involvement.

 

 

Organizational structures

-Functional
-Matrix (weak (managed by functional manager), balanced (mixed management), strong (managed by project manager))
-Projectized
-Composite (mix of functional, matrix and project)

 

 

Project Stakeholder

individual, group or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity or outcome of a project. May be actively involved in the project, or whose interests may be positively or negatively affected by the performance or completion of the project

 

Sponsor

the person or group that provides resources and suport for the project and is accountable for enabling success.

 

Customers/users

the persons or organizations who will approve and manage the project's product, service or result. Users will use the project's product, service, or result.

 

Sellers (vendor, supplier, or contractor)

external companies that enter into a contractual agreement to provide components or services necessary for the project.

 

Functional Managers (as related to stakeholders)

key individuals who play a management role within an admin or functional area of the business, ex: finance, accounting, hr, etc.

 

Project managers

Assigned by the performing organization to achieve the project objectives and is the lead person responsible for communicating with all stakeholders, particularly the project sponsor, project team, and other key stakeholders, and occupies the center of the interactions between stakeholders and the project itself.

 

Project team

Comprised of the project manager and the group of individuals who act together in performing the work of the project to achieve its objectives..

 

Project Governance

An oversight function that is aligned with the organization's governance model and that encompasses the project life cycle. Provides the pm and team with structure, processes, decision-making models and tools for managing the project while supporting and controlling the project for successful delivery. Involves stakeholders, policies, procedures and standards.

 

 

Project Success

Should be measured in termos of completing the project within the constraints of scope, time, cost, quality, resources and risk as approved btwn pm and senior mgmt. PM shall set realistic and achievable boundaries fo the project iot accomplish within approved baselines.

 

Series of phases that a project passes through from its initiation to its closure. Phases can be broken down by functional or partial objectives, intermediate results or deliverables, milestones or financial availability. Can be predictive or plan-driven or adaptive to change driven approach.

 

Generic life cycle structure

-starting the project
-organizing and preparing
-carrying out the project work
-closing the project

 

Characteristics of generic project lifecycle (2-9)

- cost and staffing levels are low at the start, peak as work is carried out and drop at close
-some cost much more at the beginning to acquire needed resources
-risk and uncertainty is greatest at the start of the project, then decrease over lifecycle
-ability to influence the final characteristics of the project's product without significant impact to cost is highest at the start and decreases towards completion

 

Project Phases

project phase is a collection of logically related project activities that culminates in the completion of one or more deliverables.

 

Characteristics of all phases

-work has a distinct focus that differs from any other phase
-achieving the primary deliverable or objective of the phase requires controls or processes unique to the phase or its activities
-closure of a phase ends with some form of transfer or hand-off of the work. Point may be referred to as a stage gate, milestone, phase review, phase gate or kill point. Usually needs to be approved.

 

Phase to phase relationship

Two basic types:
Sequential (reduces uncertainty but can't reduce time for delivery) or overlapping (can fast track but may increase risk and cause rework)

 

- Predictive Life Cycle
-Iterative and Incremental Life Cycles
(start with a vision, intentionally repeat one or more activities in order to incrementally ad to the functionality)
-Adaptive life cycle: used in a rapidly changing environment to respond to high levels of change and ongoing stakeholder involvement.

 

 

Week 1: Education Edge - PMP Office Read 1 (Chapter 1 and Chapter 2)

PMBOK Office Read - Project Management Introduction and Framework (Chapter 1 and 2)

 

Project

A project is a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates a definite beginning and end

 

Project Management

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements (remember requirements that meet the objectives.

 

Project Management Process Groups

1. Initiating
2. Planning
3. Executing
4. Monitoring and Controlling
5. Closing

 

Progressive Elaboration

Continually improving and detailing a plan as more detailed and specific information and more accurate estimates become available. Uses the iterative process of continually re-looking at and refining the plan to make it accurate.

 

Portfolio

A collection of programs and other work that are grouped together to facilitate effective management of that work to facilitate strategic business objectives.

 

Portfolio Management

• The central management of one or more portfolios. Includes identifying, prioritizing, authorizing, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives
• Project portfolio management refers to the selection and support of projects or program investments.
• These investments in projects and programs are guided by the organization`s strategic plan and available resources.

 

Program

A group of related projects managed in a coordinated way to obtain benefits and control. Includes related work outside the scope of the discrete projects in the program. A project may or may not be part of a program; a program will always have projects. Think the Space Program.

 

Program Management

The centralized coordinated management of a program to achieve the programs strategic objectives and benefits. Projects within a program are related through the common outcome or collective capability. Focuses on the project interdependencies and helps to determine the optimal approach for managing them

 

Strategic considerations that typically authorize a project (reasons for a project to start)

• Market Demand;
• Strategic opportunity / business need;
• Social Need
-Environmental Consideration
-Customer Request
• Technological advancement;
• Legal requirements;

 

PMO

Project Management Office. A management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools and techniques. Can be supportive (consultative), controlling (monitoring and auditing), or directive (takes charge of projects).

 

How can a PMO support project managers?

• Managing shared resources across all projects administered by the PMO;
• Identifying and developing project management methodology, best practices, and standards;
• Coaching, mentoring, training, and oversight;
• Monitoring compliance with project management standards, policies, procedures, and templates via project audits;
• Developing and managing project policies, procedures, templates, and other shared documentation (organizational process assets); and
• Coordinating communication across projects

 

Business Value

The entire value of the business; the total sum of all tangible and intangible elements. PM can assist by effectively managing projects and delivering quality products.

 

Project Manager

The person assigned by the performing organization to achieve the project objectives

 

Characteristics of a project manager

• Knowledge of project management;
• Performance: what the project manager is able to do or accomplish whilst applying the project management knowledge;
• Personal: how the project manager behave - encompasses attitude and leadership

 

PMBOK

Project Management Body of Knowledge. A standard of managing most projects most of the times across many industries; Describes the project management processes, tools, and techniques used to manage a project;

 

Organization Process Assets

The plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization. They include any artifact practice or knowledge from any or all of the organizations involved in the project.

 

Org's processes and procedures for conducting project work include (any historical documents:

-Initiating and planning: Guidelines, Standards, templates
-Executing Monitoring and Controlling: Status reports, Change control documents, financial controls, issue and defect  management , communication, risk control or register or RAID logs, performance measurement,
-Closing: Project closure guidelines or requirements, lesson learned

 

Corporate Knowledge Base from the Org Process assets include:

- Configuration management
-Financial databases
-Historical info
-Issue and defect management databases
-Process measurement databases
-Project files from previous projects

 

Enterprise environmental factors

Conditions not under the control of the project team, that influence,
constrain or direct the project
-culture
-geographic distribution of facilities
-gov't or industry standards
-infrastructure
-human resources
-established communication channels
-stakeholder risk tolerance

 

 

Week 1: PMP Office Read - Purpose

Dear Friends,
In an effort to maintain focus, we will continue to send out PMBOK / PMP weekly office reads to you. What ever is covered in the class will form a part of this office read.

The purpose of this PMP office read blog is to use some time at work to go over the content covered in the class and consolidate our learning.

Happy learning and stay blessed.

Hemant Dhariyal and Dave Odigie
Education Edge - PMP Decoded.